DEALS

Deals

Aspen Dental and Stanton Optical – Lafayette, LA

THE OPPORTUNITY

  • Net Lease 
  • Corporately guarantee
  • 10 Year Initial Term  through 2027
  • Aspen Dental operates 1,000 locations 
  • Stanton Optical operates 185+ locations 
  • Aspen Dental is one of the largest Healthcare Retailers in the country
  • Stanton Optical is an industry leader in eye care service
  • 10% Rent escalations in years 6 – 10 of each of the leases
  • Landlord Responsibilities:
  • Roof, Structure (further outline on page 6)
  • Three 5-year options
  • 10% Rent escalations in every renewal​​​

THE HIGHLIGHTS

  • Excellent visibility from both Johnston St and Ambassador Caffery Pkwy
  • Combined traffic counts at the intersection are 79,269 ADT
  • Center is located at the hard corner of the submarket
  • Multiple access points to both corridors and adjacent property
  • Area retailers include Sams, Hobby Lobby, Best Buy, and the Acadiana Mall
  • Constructed in 2017
  • Market rents in the submarket have grown by 5.5% in the past 12 months
  • Vacancies in the MSA are currently under the five-year average​​​

THE DEAL POINTS

  • Cap Rate: 5.85%
  • Price: $5,225,000
  • Year Built: 2017
  • NOI: $305,700
  • Occupancy: 100%
  • Square Footage: 7,844 SF

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