Marcus & Millichap is pleased to present the opportunity to acquire the property located at 21095 South Frontage Road in Lacassine, Louisiana. The subject property consists of approximately 127,800 square feet of warehouse space and is situated on 30 acres of land. The single-tenant asset features a clear height of 18’, eight dock-high doors, metal construction, three-phase power, and 45 parking spaces. Zoned I2 for heavy industrial, three-quarters of the property is air-conditioned warehouse space with a storage capacity of 1,500 tons. For sale as vacant, the property is ideal for owner use as a distribution and logistics facility. The property sits at the site of the BNSF Lacassine Railyard which allows for the future development of a rail spur. Located along Interstate 10 between Beaumont, Texas and Lafayette, Louisiana, the property has same-day shipping access to the Port of Houston, the nation’s largest port for waterborne tonnage.
The subject property is the largest industrial asset and the only distribution facility available in the city of Lacassine, which is positioned just outside of the Lake Charles market. Containing only 6.2 million square feet of industrial space, the Lake Charles market is situated along the Texas border and the Gulf of Mexico. In Q1 2024, the vacancy rate among industrial properties fell to just 3.0 percent, representing half the national average. Despite vacancies remaining tight, asking rents continued to slow but at 6.4 percent, the annual growth rate doubled that of the Consumer Price Index. Going into the second quarter, there were no industrial properties under construction in Lake Charles, which means that vacancies and rents will be unaffected by new supply for the foreseeable future. With a market cap rate of 8.8 percent, industrial properties in Lake Charles also offer higher returns than most markets in the U.S. (CoStar).
Beaumont is located in Jefferson County along the Neches River and serves as the county seat. The city is part of the Beaumont-Port Arthur metropolitan statistical area and located 85 miles east of Houston. The Port of Beaumont, a deep-water port located near the mouth of the Neches River, is the fourth busiest port in the United States according to the American Association of Port Authorities. The port is also the busiest military port in the world for processing United States military equipment. Beaumont is home to Lamar University, a public university that is part of the Texas State University System. The university has an estimated enrollment of 17,000 students.
BROKER OF RECORD
Steve Greer
Louisiana Broker of Record
10527 Kentshire Court, Suite B
Baton Rouge, LA 70810
Tel: (225) 376-6800
Steve.Greer@marcusmillichap.com
License: BROK.995710346-ACT
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2024 Marcus & Millichap. All rights reserved. (Activity ID: ZAE0050543)
