DEALS

Deals

Prien Lake Shopping Center – Lake Charles, LA

CALL FOR OFFERS: THURSDAY, JUNE 23, 2022

THE OPPORTUNITY

  • Premier shopping destination in the market•Strong Term Remaining: Tenants occupying over 70% of GLA have term until at least 2026•Tenant Longevity:
  • Anchor tenants have been at the center since at least 2003
  • 50% of tenants have been at the center for at least 10 years
  • Leasing Upside: 94% occupied
  • National Tenants: 80% of GLA occupied by national tenants
  • No short-term rollover:
  • All anchor tenants have term until at least 2026
  • All tenants have term until at least 2024

THE HIGHLIGHTS

  • Lake Charles cost of living is among the lowest in the region at 15% below the national average•Calcasieu Parish is the 3rd fastest growing parish in Louisiana•$22 Billion of industrial development underway in the market
  • Located at the only Target in the market
  • Strong daily traffic with over 88,000 cars
  • I-210: 43,657
  • Nelson Rd: 27,175
  • W Prien Lake Rd: 17,779

THE DEAL POINTS

  • Cap Rate: Market to Determine
  • Price: Market to Determine
  • Year Built: 2002
  • NOI: $1,793,840
  • Occupancy: 94%

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