Shopping Neighborhood
Park Plaza Shopping Center
924 Rees St, Breaux Bridge, LA 70517
Listing Price: $3,300,000
Investment Overview
Marcus & Millichap is pleased to exclusively offer Park Plaza Shopping Center, a 64,251 square foot neighborhood center anchored by Super 1 Foods and Family Dollar. The center's national and regional tenants occupy 82% of the GLA and contribute 87% of current base rental income.
Park Plaza is currently 93% occupied, offering an investor the opportunity to acquire a stabilized asset with a
synergistic tenant mix and the opportunity to add value through leasing of a 4,800 square foot
vacancy.
The property is located in the northeast metropolitan area of Lafayette, Louisiana just 9 miles from the Lafayette Regional Airport (LFT) in the suburban community of Breaux Bridge, designated the Craw?sh Capital of the World. Lafayette, often called “the Hub City” for its central role in the Gulf Coast’s oil and gas industry, is the ?fth largest city in the state and famous for its Cajun and Creole cuisine.
Park Plaza Shopping Center
Investment Highlights
- Anchored by National and Regional Tenants representing 82% of GLA
- 93% Leased Neighborhood Center with Grocery and Discount Retail
- Just off I-10 Exit Parallel to Busy Retail Corridor with 17,592 VPD
- Retail Submarket Vacancy of only 4.6%
- Below Market Rents Averaging $5.88 vs Market Rents of $12.10/sf
Exclusively Listed By
Broker of Record
-
Steve Greer
First Vice President Investments
Listing Price: $3,300,000
Investment Highlights
- Anchored by National and Regional Tenants representing 82% of GLA
- 93% Leased Neighborhood Center with Grocery and Discount Retail
- Just off I-10 Exit Parallel to Busy Retail Corridor with 17,592 VPD
- Retail Submarket Vacancy of only 4.6%
- Below Market Rents Averaging $5.88 vs Market Rents of $12.10/sf
Investment Overview
Marcus & Millichap is pleased to exclusively offer Park Plaza Shopping Center, a 64,251 square foot neighborhood center anchored by Super 1 Foods and Family Dollar. The center's national and regional tenants occupy 82% of the GLA and contribute 87% of current base rental income. Park Plaza is currently 93% occupied, offering an investor the opportunity to acquire a stabilized asset with a synergistic tenant mix and the opportunity to add value through leasing of a 4,800 square foot vacancy. The property is located in the northeast metropolitan area of Lafayette, Louisiana just 9 miles from the Lafayette Regional Airport (LFT) in the suburban community of Breaux Bridge, designated the Craw?sh Capital of the World. Lafayette, often called “the Hub City” for its central role in the Gulf Coast’s oil and gas industry, is the ?fth largest city in the state and famous for its Cajun and Creole cuisine.
Exclusively Listed By
Broker of Record
-
Steve Greer
First Vice President Investments
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