Address: 2211-2217 Engineers Rd. Belle Chasse, LA 70037
We are pleased to announce the recent closing of this investment driven multi-tenant industrial service center. The purchase price against the net income indicates an implied un-levered capitalization of around 9% and a pro forma on projected market rental rate increases that push the un-levered rate into the double-digits.
The purchaser is a well-capitalized out of state real estate investment company assembling a portfolio of like-kind assets across the region. During the course of this marketing engagement, we secured an excess of buyers with a market demand response that proved really positive in this exact space. As an asset class, industrial real estate continues to remain a safe haven with durable returns and long-term value appreciation potential.
Troy Hagstette and Parke McEnery represented both the seller and the purchaser in what proved to be a successful transaction for all parties. Please contact Parke and Troy regarding additional properties that may also qualify.
Sale Price: $3,375,000 | $34.10 PSF
Cap Rate (proforma): 10%
Gross Building Area: 99,000 SF
Site Size: 5.42 acres
# of Units: 32 Units
Occupancy: 100%
For further details please contact Troy Hagstette 504-251-5719 or Parke McEnery 504-236-9542
