Investment Overview

Marcus & Millichap is pleased to exclusively list for sale West Willow Grocery-Anchored Shopping Center, a grocery-anchored retail center with 100,264 square feet of leasable area, located at 215 West Willow Street in Lafayette, Louisiana. West Willow Shopping Center is located at the southwest corner of West Willow Street and Evangeline Thruway, seeing approximately 75,000 vehicles per day. This intersection is an important retail hub in its submarket, evidenced by the property’s anchor tenant, Super 1 Foods, which ranks in the top 89 percent of foot traffic for locations nationwide, according to Placer AI. The subject property’s co-anchor, dd’s Discounts, ranks in the top 75 percent of locations in Louisiana for foot traffic, according to Placer AI. West Willow Shopping Center is offered at a price of $4,610,000 ($45.98 per square foot), which represents an 8.75 percent day one cap rate. The Offering is 100 percent economically occupied and 88 percent physically occupied. Suite 207 (8,450 square feet) and Suite 209 (3,200 square feet) are vacant, and the seller shall sign Master Leases at closing for those units for three years at a rental rate of $10 per square foot. The total Master Lease rent over the three-year term, in the amount of $349,500, shall be escrowed with Title, to guarantee the Buyer’s monthly receipt of Master Lease rent for Suites 207 and 209, or to be used as agreed to between Buyer and Seller, towards concessions to lease the unit(s) to new tenant(s). The 8.75 percent day one cap rate underwrites the rent payments made through the Master Lease.