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Harbor Marketplace, Mandeville, LA

Harbor Marketplace

Mandeville, LA

Price $3,184,000
Cap Rate 6.25%
NOI $199,000
Lease Term Various
Lease Type Various
Rental Increases Various
Year Built 2017
Building Size 4,700 SF
Lot Size 0.59 Acres (25,700 SF)
Status Available
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Jonathan Walker, CCIM
Maestri-Murrell, Inc.
225.810.3294
jwalker@mmcre.com
LA RE License #74518

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Louisiana-licensed real estate broker Cushman & Wakefield, Inc.

Investment Highlights

100% LEASED TO STRONG TENANTS
» Fully leased retail center with new long-term leases and scheduled rental increases
» Corporate guarantee from Chipotle Mexican Grill, Inc.
» Chipotle is a nationwide chain with strong brand recognition
» Urgent care is one of the fastest growing fields in healthcare today

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Immediate access U.S. Highway 190 (56,370 AADT) and the Lake Pontchartrain Causeway, which connects Mandeville to New Orleans and is the primary commuter route between New Orleans and St. Tammany Parish
» Excellent access and visibility to 25,456 vehicles per day on Highway 22, a heavily traveled residential and commercial corridor
» Outparcel to large shopping center featuring major retailers, including The Fresh Market, which is undergoing an expansion and remodel

CENTRAL LOCATION
» Within walking distance of Mandeville High School, the tenth largest public high school in Louisiana, with a total enrollment of 1,737 students
» Close proximity to Lakeview Regional Medical Center (175 beds, more than 240 physicians and specialists, and 800 employees)
» Directly across from Beau Chene Country Club, featuring two 18-hole championship golf courses

LARGE, AFFLUENT CUSTOMER BASE
» Surrounded by wealthy residential neighborhoods, with average household incomes greatly exceeding $100,000 within one-, three-, and five-mile radii
» St. Tammany Parish is the wealthiest parish in Louisiana and is located in the Northshore region of the New Orleans MSA, which is home to some of the most affluent communities in the area
» St. Tammany Parish is the fifth most populous parish in Louisiana and one of the fastest growing parishes in the state

FILL OUT THE FORM BELOW TO ACCESS OFFERING MEMORANDUM



Property Description

The property is conveniently located on Highway 22, a heavily traveled residential and commercial corridor, with excellent access and visibility to 25,456 vehicles per day. Highway 22 provides immediate access to U.S. Highway 190, with a high traffic count of 56,370 vehicle per day, and the Lake Pontchartrain Causeway, a major commuter thoroughfare connecting Mandeville to New Orleans. Both Highway 22 and U.S. Highway 190 are dense commercial and retail corridors, and the property is surrounded by a number of large shopping centers and national tenants. The property is outparcel to Northlake, a shopping center anchored by Stage and The Fresh Market, which is currently undergoing an expansion and remodel. Premier Center is less than half a mile from the property. The center is anchored by Stein Mart, Whole Foods Market, Bed Bath & Beyond, and T.J. Maxx and includes several other notable tenants, such as Barnes & Noble, Rack Room Shoes, Victoria’s Secret, Old Navy, and Banana Republic. The property is also a short drive from River Chase, anchored by Sam’s Club, Target, Belk, and JCPenney. River Chase is the largest shopping destination in St. Tammany Parish and is the second largest openair shopping center in Louisiana. Other retailers located near the property include McDonald’s, Party City, Dollar Tree, PetSmart, Starbucks, Massage Envy, CVS, and Walgreens.

The property is centrally located near recreational areas, healthcare centers, schools, and affluent residential neighborhoods. Beau Chene Country Club is directly across from the property, and features two 18-hole golf courses, sports and fitness facilities, and upscale restaurants. Also near the property is Lakeview Regional Medical Center, with 175 beds, over 240 physicians and specialists, and 800 employees. Mandeville High School is within walking distance of the property. The school has a total enrollment of 1,737 students and is the tenth largest public high school in Louisiana. Additionally, the property is surrounded by wealthy residential neighborhoods, with average household incomes greatly exceeding $100,000 within one-, three-, and five-mile radii.

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