St. Mary Plaza | Morgan City, LA
Sands Investment Group is Pleased to Exclusively Offer For Sale the 138,168 SF St. Mary Plaza Located at 855 Highway 90 East in Morgan City, Louisiana. This Deal Includes Four (4) Buildings on Three (3) Separate Tax Parcels. 78% Occupancy Rate, With National Credit Tenants Make up 39% of GLA. LOI in Hand to Add an Ollies to the Center.
- 78% Occupancy Rate, True Value-Add Deal Providing Immediate Value Enhancement Through the Lease-Up of the Remaining Vacancies With in Hand Ollies LOI – Ask Brokers For More Info
- 70% of the Existing Income is From Nationally Branded Tenants, Providing Strong National Traffic and Long Term Stability With Roses, Harbor Freight, Aarons, Etc
- LOI in Hand From National Credit Tenant Ollie’s For 19,500 SF Providing Immediate Upside and Including the O’Reilly’s and Fast Food Building Outparcels in the Sale
- Very Strong Visibility With Over 32,000 VPD Passing in Front of the Center on Highway 90 and Immediately Adjacent to Strong Performing Walmart For the St. Mary’s Market; Additionally, the Market Has an Average Occupancy Rate of 95.9%
- Spanning Across Three (3) Distinct Tax Parcels, This 138,168 Square Foot Center Compromises Four (4) Separate Buildings Offering a Unique Opportunity For Future Individualized Sales, Thereby Enhancing Its Versatility and Potential For Personalized Investment Options
- Recently Signed 10-Year Lease Agreement With Fitness 1440, and Recent Extension From Roses and Purple Lemon With Upside of Remaining Square Footage to Be Leased
- Nestled in a Strategic Location Along the Prominent U.S. Route 90, Which Serves as the Primary Artery Connecting the Vibrant Cities of Lafayette and New Orleans in the Southern Region of Louisiana
- The Market Rents Currently Stand at an Advantageous Rate of $15.08/SF, Presenting an Exciting Opportunity For New Ownership to Capitalize on the Potential For Rental Increase
In Cooperation With Sands Investment Group Louisiana, LLC – Lic. #BROK.0995702111-CORP BoR: Andrew Ackerman – Lic. LA #BROK.0995700567-ACT
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