• 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