Single-Tenant Industrial

Stella Industries

406 Beau Pre Rd, Lafayette, LA 70508

Listing Price: $1,905,000

Cap Rate
8.50%
Gross SF
14,240
Price/Gross SF
$133.78
Lot Size
5.67 acres
Year Built
2014
Rentable SF
14,240

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 406 Beau Pre Road in Lafayette, Louisiana leased to Stella Industries. The subject property consists of approximately 14,240 square feet of space and is situated on 5.67 acres of land. The asset is a newer built-to-suit property completed in 2014 for the tenant who has long-term historical occupancy. With no deferred maintenance, the real estate has 5.67 acres of extra space providing opportunity for future tenants or occupiers with outside storage. Over the past five years, the Greater Lafayette Submarket has posted net absorption of about 58,000 square feet per year, on average. Rents grew by four percent over the past 12 months, easily exceeding the 2.5 percent average annual change over the past decade. The property is conveniently located on Beau Pre Road, with close access to Highway 90 East.

The 7.8 million square feet of industrial space in Greater Lafayette represents more than a third of the Lafayette markets total industrial inventory. There are no supply-side pressures on vacancy or rent in the near-term, as nothing is underway. Though the pipeline is empty, the submarket has seen recent development. Roughly 18,000 square feet has delivered over the past three years, representing a modest inventory expansion of 0.2 percent. Industrial properties traded with regularity last year, consistent with the generally high level of activity over the past three years. (CoStar)

Lafayette is a city in and the parish seat of Lafayette Parish, Louisiana, located along the Vermilion River in the southwestern part of the state. The city of Lafayette is the fourth-largest in the state, with a population of 126,185 according to 2019 U.S. Census estimates. It is the principal city of the Lafayette metropolitan statistical area, with a 2015 estimated population of 490,488. The larger trade area or combined statistical area of Lafayette-Opelousas-Morgan City CSA was 627,146 in 2015. Its nickname is The Hub City.

Investment Highlights

  • Property is Conveniently Located on Beau Pre Road with Close Access to Highway 90 E
  • The Submarket has Posted Net Absorption of about 58,000 SF Per Year on Average
  • Rents Grew by 4.0% Over the Past 12 Months
  • Easily Exceeding the 2.5% Average Annual Change Over the Past Decade
  • Newer Build Completed in 2014 No Deferred Maintenance
  • Real Estate has 5.67 Acres of Extra Space Providing Opportunity for Future Tenants

Exclusively Listed By

Broker of Record

  • Chris Shaheen

    Associate

    License(s): LA: BROK.0995692662-ACT

    Louisiana

Single-Tenant Industrial

Stella Industries

Listing Price: $1,905,000

Cap Rate
8.50%
Gross SF
14,240
Price/Gross SF
$133.78
Lot Size
5.67 acres
Year Built
2014
Rentable SF
14,240

Investment Highlights

  • Property is Conveniently Located on Beau Pre Road with Close Access to Highway 90 E
  • The Submarket has Posted Net Absorption of about 58,000 SF Per Year on Average
  • Rents Grew by 4.0% Over the Past 12 Months
  • Easily Exceeding the 2.5% Average Annual Change Over the Past Decade
  • Newer Build Completed in 2014 No Deferred Maintenance
  • Real Estate has 5.67 Acres of Extra Space Providing Opportunity for Future Tenants

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 406 Beau Pre Road in Lafayette, Louisiana leased to Stella Industries. The subject property consists of approximately 14,240 square feet of space and is situated on 5.67 acres of land. The asset is a newer built-to-suit property completed in 2014 for the tenant who has long-term historical occupancy. With no deferred maintenance, the real estate has 5.67 acres of extra space providing opportunity for future tenants or occupiers with outside storage. Over the past five years, the Greater Lafayette Submarket has posted net absorption of about 58,000 square feet per year, on average. Rents grew by four percent over the past 12 months, easily exceeding the 2.5 percent average annual change over the past decade. The property is conveniently located on Beau Pre Road, with close access to Highway 90 East.

The 7.8 million square feet of industrial space in Greater Lafayette represents more than a third of the Lafayette markets total industrial inventory. There are no supply-side pressures on vacancy or rent in the near-term, as nothing is underway. Though the pipeline is empty, the submarket has seen recent development. Roughly 18,000 square feet has delivered over the past three years, representing a modest inventory expansion of 0.2 percent. Industrial properties traded with regularity last year, consistent with the generally high level of activity over the past three years. (CoStar)

Lafayette is a city in and the parish seat of Lafayette Parish, Louisiana, located along the Vermilion River in the southwestern part of the state. The city of Lafayette is the fourth-largest in the state, with a population of 126,185 according to 2019 U.S. Census estimates. It is the principal city of the Lafayette metropolitan statistical area, with a 2015 estimated population of 490,488. The larger trade area or combined statistical area of Lafayette-Opelousas-Morgan City CSA was 627,146 in 2015. Its nickname is The Hub City.

Exclusively Listed By

Broker of Record

  • Chris Shaheen

    Associate

    License(s): LA: BROK.0995692662-ACT

    Louisiana

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