Stable Occupancy with Immediate Cash Flow: The center is 82.5% occupied with 5.14 years WALT, generating over $800,000 in annual base rent as of May 1, 2025.
Value-Add Opportunity: The investment offers multiple avenues to add value including; leasing the 17,476 SF of vacant space, conversion of all leases to triple net, extending co-anchor Harbor Freight, and marking select leases to market upon expiration.
Anchor Tenants Driving Traffic and Stability: Planet Fitness (25,504 SF, lease to 1/31/2035) and Harbor Freight Tools (15,394 SF, lease to 8/2026) are major draws ensuring long-term stability and foot traffic.
Diverse Tenant Mix with Recession-Resistant Elements: Includes financial services (Citizens Inc., Foti Financial, Advance America) and specialty retail/dining (Boost Mobile, Exclusive Cuts, Hot Blondys), balancing essential and discretionary income streams.
Strategic Location in a Retail Corridor: Positioned on East Admiral Doyle Drive with over 22,000 vehicles per day, near Walmart Supercenter and Rouses Market, and accessible via Highway 90, enhancing visibility and customer draw.
New Iberia Economic Development:
• First Solar is investing $1.1 billion in a new manufacturing facility in New Iberia, LA—the largest in the parish’s history—bringing over 700 high-paying jobs and driving strong demand for housing and commercial real estate. This presents a prime opportunity for investors to capitalize on the area's rapid economic and population growth.
• The $26 million Acadiana Crime Lab breaking ground in New Iberia is a major regional investment that will enhance law enforcement capabilities across eight parishes and is expected to spur local economic and real estate growth. Its central location and anticipated completion in 2025 present a timely opportunity for investors to capitalize on increased demand for nearby commercial and residential properties.