Walmart Shadow Center

Walmart Shadow Center

4021 Behrman Place
New Orleans, LA

Price: $6,870,000
Cap: 8.75%
NOI: $601,3888
Building Size: 59,438 SF
Lot Size: 7.49 AC

Investment Highlights

• DENSELY POPULATED IN-TOWN NEW ORLEANS 5 MILE POP: 264,332 | HHI: $62,858
• STRATEGIC HIGH TRAFFIC LOCATION (27,000 VPD)
• STABLE HISTORY | AVERAGE OCCUPANCY 10+ YEARS
• LEASING MOMENTUM | 3 NEW LEASES & 2 RENEWALS IN 2019
• STRONG NATIONAL TENANT LINEUP (63%)
• SHADOW TO HIGH VOLUME WALMART SUPERCENTER

WALMART SUPERCENTER SHADOW CENTER
• The subject property is a 59,438 SF Walmart supercenter shadow anchored retail center located in New Orleans, LA.
• 63% of the center is leased to national brands including Family Dollar, CATO, Shoe Depot, GameStop, Chase Bank, and more.
• Strong Leasing Momentum: three (3) new leases & two (2) lease renewals all in 2019.
• The center has a long standing history | Average tenant occupancy of over 10+ years.
• Upside Opportunity with 11% (6,745 SF) Vacancy.

HIGH TRAFFIC | HYPER DENSE | IN-TOWN NEW ORLEANS
• The subject property is located in an incredibly dense in-town New Orleans location.
• Solid 5-Mile Demos | Pop: 264,332 | Avg HHI $62,858.
• The subject is located in a high traffic corridor on Behrman Place (27,000 VPD).
• The center shows strong real estate fundamentals with Good Visibility, Signalized intersection, and multiple points of ingress/egress.

NEW ORLEANS, LA
• The subject property is located in the booming City of New Orleans, LA; famous for its Vibrant Culture and Tourism.
• The city had 17.74 million tourists in 2017, spending $8.7 Billion.
• The city is experiencing massive real estate growth with 33.7 billion in Metro Area Industrial projects planned in the next 3 years (See Market Overview for details).
• Outside of Tourism New Orleans has a thriving and diverse economy driven by industrial, health care, and educational employers. This Includes Ochsner Health System (23,000 Employees), Tulane & New Orleans University (20,000 Total Students & 5,425 Employees), and Entergy (3,000 Employees). Health Care and industrial expansions are expected to add 12,200 jobs in 2019 alone

Zach Taylor
OFFERING MEMORANDUM

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