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Millerville Greens, Baton Rouge, LA

Millerville Greens

LA, United States

Price $2,745,000
Cap Rate
NOI
Lease Term Various
Lease Type
Rental Increases Various
Year Built 2017
Building Size 5,600 SF
Lot Size 0.91 Acres (39,640 SF)
Status Sold
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

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

BRAND NEW, 100% LEASED MULTI-TENANT RETAIL CENTER
» New 2017 high-quality construction, limiting near term deferred maintenance or capital costs
» 10% rental increases every five years

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located off of Millerville Road, with excellent access and visibility to 24,870 vehicles per day
» Prime location near an Interstate on/off ramp, which sees a traffic count of 115,259 vehicles per day, providing easy access and great visibility
» Located near the Mall of Louisiana, the largest mall in Louisiana, which houses major national tenants, including Apple, Dillard’s, Sears, and Macy’s
» Well-known retailers surrounding the site include Super Target, Best Buy, Lowe’s, Golden Corral, Zaxby’s, and Mattress Firm

PRIME BATON ROUGE LOCATION NEAR MAJOR EMPLOYERS, EDUCATIONAL INSTITUTIONS, AND NATIONAL TENANTS
» Baton Rouge is the second largest city in Louisiana, with a population of 228,590
» 31,527 students attend Louisiana State University, located less than 10 miles away
» Prime location in the Greens at Millerville, a 52-acre mixed-use development » 153,276 people live within a five-mile radius of the site

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located off of Millerville Road, which experiences a high traffic count of 24,870 vehicles per day in front of the site. The site benefits from immediate access to Interstate 12, which boasts a traffic count of 115,259 vehicles per day and connects with Interstate 10 to cross through Mississippi into Louisiana. Downtown Baton Rouge is less than 10 miles to the west of the property. Also located near the property are Louisiana State University, which has an enrollment of 31,527 students; Bone Carre Technology Center, located approximately nine miles from the site, with over 4,000 employees; and an ExxonMobil refinery, located a little over 10 miles west, with 4,213 employees. 153,276 people live within five miles of the busy, Louisiana location.

Numerous national tenants surround the property, adding to the site’s appeal. Major retailers include Super Target, Best Buy, Mattress Firm, Lowe’s, Zaxby’s, Cracker Barrel, and Golden Corral, among others. The site also benefits from its close proximity to new developments in an up-and-coming area of Baton Rouge. The site enjoys a prime location at the entrance to the of the Greens at Millerville, a 52-acre mixed-use development that is currently under construction. A Zoe’s Kitchen, Pacific Dental, and GNC, are also currently under construction on the other side of Millerville Road, directly across from the site.

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