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6721 Westbank Expressway - Dollar Tree | Corp NN | 5 Miles from Downtown, Marrero, LA

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6721 Westbank Expressway - Dollar Tree | Corp NN | 5 Miles from Downtown

Marrero, LA 70072 - Outer Jefferson Parish Submarket


Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2012
Building Size:11,200 SF Land Area:1.04 AC (45,302 SF)
For Sale Price:$1,919,000 Price/SF:$171.34
Cap Rate:7.50 %
Parking:Free Surface spaces are available; Ratio of 5.8/1,000 SF
Features:Bus Line, Dedicated Turn Lane, Pylon Sign, Signage


The brand-new Dollar Tree is an 11,200 square foot property located in Marrero (New Orleans), Louisiana. The property is optimally located along the Westbank Expressway, which continues as U.S. Highway 90 throughout the entire New Orleans metropolitan area. The brand-new (2012 construction) brick building is being built to accommodate its single tenant retailer, Dollar Tree, who hand-picked this particular location for its expansion in Louisiana and the United States. This newest built-to-suit location is on pace to open in June 2012 on a brand-new, 10-year Triple Net (NNN) Lease through 2022 with (3) 5-year renewal options thereafter. Dollar Tree conveniently places their stores in thriving areas, which allows for them to remain the most successful single price point retailer in the United States. Dollar Tree is publicly traded on NASDAQ under ticker symbol "DLTR" and has reported profits growing by double digits for five consecutive quarters. The Fortune 500 Company whose business momentum remains strong as their sales, operating margins and earnings continue to expand time and time again. Growth has remained constant and record earnings were just reported for year-end 2011 with both, significant net income and revenue increases. The brand-new building along with its location on a main thoroughfare in a rapidly growing city gives an investor the rare opportunity to acquire an unbeatable asset with minimal responsibilities.

The Dollar Tree is strategically positioned on the main thoroughfare (Westbank Expressway) and is surrounded by a heavy concentration of residential homes, national retailers, commercial properties and major employers. The freestanding building is being built to accommodate Dollar Tree for the necessity of their products to the surrounding community. U.S. Highway 90 crosses the Mississippi River on the Crescent City Connection and runs along the Westbank Expressway west of the bridge and part of the Pontchartrain Expressway in the New Orleans Central Business District. The property is in an area that is highly sought after in a high barrier to entry market. The location in a prime area for commuters of the residential community that pass by on their commute along the Westbank Expressway/U.S. -90 into Downtown New Orleans. The store is being constructed with significant frontage with convenient access off the Expressway, and is positioned within a high population density (222k people within 5-miles of the property) area with average household incomes over $75k within a 3-mile radius of the property.

Metropolitan New Orleans is a major regional hub for the health care industry and boasts a globally competitive manufacturing sector. Ochsner Health System is the area's largest employer with over 10,000 employees and is ranked as one of the best hospital systems. The center city possesses a rapidly growing industry sector, and is, of course, renowned for its cultural tourism. New Orleans has many major attractions, from the world renowned French Quarter and Bourbon Street's notorious nightlife to St. Charles Avenue. Also drawing people to the area is the vast amount of higher education opportunities that include, Tulane University (9,100+ students), Loyola university New Orleans (3,400+ students) and The University of New Orleans (8,200+ students) to name a few. The area has a wealth of educational opportunities and an abundance of major employers in the immediate vicinity, such as Tulane University, Acme Truck Line, and A1 Copeland Investments. All have more than 2,000 employees, and many of the employees reside by the Dollar Tree and commute along the Westbank Expressway in to Downtown creating a convenient place to stop to pick-up any needed items. Another added benefit to the area is the TPG Golf Course, which is only a few miles west of the property. The PGA course welcomes avid golfers to its beautiful course. A recent Travel & Leisure poll of "America's Favorite Cities" ranked New Orleans first in ten categories, the most first-place rankings of the 30 cities included.

Sale Notes:
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building) in an NN leased, corporate guaranteed, single tenant, Dollar Tree, investment property located in Marrero, LA. The tenant, Dollar Tree Stores, Inc., has approximately 4.5 years remaining. The lease features approximately 3.7% rental increases at the beginning of each option period, and is NN with landlord responsibilities limited to roof and structure.

SRS National Net Lease Group
Patrick R Luther
(949) 698-1115

Matthew Mousavi
(949) 698-1116

  
SRS Real Estate Partners
Brad Gibbs
(214) 560-3238

  
SRS Real Estate Partners
John A Topping
(678) 420-1384




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