Value-Add Retail Opportunity
National Credit Tenancy with Durable Income - FedEx (Baa2/BBB) and Leslie’s Pool (operates over 900 stores in 35 states) comprise 70% of rental income with an attractive weighted average remaining term.
Upside Potential - The center is 69% leased within a trade area that has average occupancy rates of 97%.
Quality Improvements - Newly developed in 2007, the improvements are attractive with good signage on College Ave.
In-Fill Location within Primary Retail Hub - limited developable parcels available within Baton Rouge’s primary retail trade area. Retailers are attracted to a strong consumer base of 86,000 residents and average household incomes over $75,000.
Strong Market Fundamentals and Stability - Retail occupancy in the trade area of 97%. Demand drivers include the State Capital, Louisiana State University (located less than 2.5 Miles from the property), numerous Fortune 500 petrochemical refineries and a large healthcare and research presence.
Attractive New Basis - Offering provides potential purchasers an opportunity to acquire the property at a basis well below the replacement cost.
Development Potential - The Property includes additional unimproved land, currently leased to Treppendahl Tree & Landscaping (exp. 2/2020), for future potential development.
RealINSIGHT Marketplace and Cushman & Wakefield are pleased to present College Creek, an 11,772 SF, Neighborhood Center located at 3151 College Drive in Baton Rouge, Louisiana. College Creek was constructed in 2007 and is situated on a 1.30 acre parcel. The Center is 69% leased with 70% of rental revenues derived from quality national tenancy. The rent roll provides an excellent base of in-place income and offers significant upside potential through lease-up of the remaining suites.
Prospective Investors are provided an attractive opportunity to acquire this 11,772 square foot neighborhood strip center, located in Baton Rouge, Louisiana. The Property is well-occupied by FedEx (17% of NRA) and Leslie Pools (29% of NRA) on a long term basis. The Property is positioned within a strong in-fill location that boasts occupancy levels of 97%
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
Platform fee for this transaction is 5.00% or a minimum of $25,000.
Cooperating brokers may be eligible for a 0.50% co-op fee if their client is the winning bidder. If you are a broker, click here to login and identify your client.
Lamar P. Fisher
Fisher Auction Company Inc.
License: 1983 Co: AB-424