7.31% Cap | Expro Operations Since 2008 | ~3% Annual Rent Growth | Lease Through April 2030 | 28,091 Sf On 2.2 Acres

Description:

KW Commercial South is pleased to exclusively offer for sale 124 & 130 Equity Boulevard, a two-building industrial investment located within Sugar Pointe Industrial Park in Houma, Louisiana. The offering consists of approximately 28,091 square feet of gross building area situated on approximately 2.2 acres and is offered at $3,100,000, representing a 7.31% cap rate on current annualized NOI of $226,590.

The properties support the established Houma-area operations of Expro, a publicly traded global energy-services company (NYSE: XPRO), and are leased to Frank’s International, LLC, an Expro company. Expro and its predecessor operations have maintained a presence at this location since 2008, providing approximately 18 years of operating history at the property.

The tenant initially occupied 130 Equity Boulevard before subsequently expanding its operations into neighboring 124 Equity Boulevard. Throughout its tenure, the operation has completed multiple lease renewals and invested in specialized infrastructure supporting its equipment service, storage and offshore-support activities. Tenant-installed improvements include two 10-ton overhead cranes, two ½-ton jib cranes, compressed-air equipment and other specialized operational infrastructure. Importantly, 100% of the enclosed shop/warehouse areas in both buildings are HVAC-conditioned, providing a highly functional climate-controlled environment for equipment servicing, storage and industrial operations.

The most recent lease amendment extends the lease term through April 30, 2030, with contractual base rent increasing approximately 3% annually through expiration. Current annualized base rent is approximately $255,852. Ownership is responsible for property insurance, currently approximately $29,262 annually, resulting in current annualized NOI of $226,590. The lease places substantial property-level operating obligations on the tenant, including real estate taxes, maintenance and repairs, providing ownership with limited ongoing landlord expense exposure.

Property Improvements

The offering includes two complementary industrial facilities totaling approximately 28,091 SF GBA, with 100% HVAC-conditioned enclosed shop/warehouse space:

130 Equity Boulevard – ±19,203 SF


±9,532 SF 100% HVAC shop/warehouse
±2,408 SF first-floor office
±2,263 SF second-floor office
±5,000 SF covered work area
Two tenant-installed 10-ton overhead cranes
Compressed-air infrastructure


124 Equity Boulevard – ±8,888 SF


±6,000 SF 100% HVAC shop/warehouse
±2,888 SF covered work area
Two tenant-installed ½-ton jib cranes
Compressed-air infrastructure


The improvements are situated on approximately 96,000 SF (2.2 acres) and provide substantial industrial yard functionality, concrete/limestone parking and work areas, covered workspace and equipment-intensive service capabilities. The property is zoned I-1 Light Industrial and located in FEMA Flood Zone X.

Established Global Energy-Services Occupant

Expro is a global energy-services provider supporting customers throughout the well lifecycle, with capabilities spanning well construction, well flow management, subsea well access, and well intervention and integrity. The company operates in more than 60 countries with approximately 7,000 employees and reported approximately $1.61 billion in 2025 revenue. Expro Group Holdings N.V. is publicly traded on the New York Stock Exchange under the symbol XPRO.

The Houma location benefits from a particularly compelling operating history. Expro and its predecessor operations have occupied the property since 2008, expanded from one facility into two, invested in specialized equipment and infrastructure, and repeatedly extended their occupancy. Expro also occupies additional nearby industrial properties under separate ownership, further demonstrating the established nature of its Houma-area operation.

Strategic Houma Energy Corridor Location

124 & 130 Equity Boulevard are positioned within one of Houma's established industrial and energy-services corridors. The property is approximately 6.8 miles from U.S. Highway 90 / the future I-49 corridor, approximately 6 miles from Houma-Terrebonne Airport, approximately 8 miles from the Port of Terrebonne, and approximately 60 miles from Port Fourchon.

For generations, Houma has served as an important Gulf Coast center for offshore energy services, marine logistics, engineering, fabrication and industrial operations. The property's location provides access to an experienced industrial workforce, established energy-service supply chains, regional transportation infrastructure and the broader offshore energy economy of South Louisiana.

124 & 130 Equity Boulevard offer investors the opportunity to acquire highly functional, climate-controlled Gulf Coast industrial real estate with an established global energy-services occupant, approximately 18 years of location-specific operating history, contractual rent growth through April 2030, specialized tenant investment and limited landlord expense exposure.




Investment Highlights


$3,100,000 Asking Price
7.31% Current Cap Rate
$226,590 Current Annualized NOI
±28,091 SF Total GBA on ±2.2 Acres
100% HVAC-Conditioned Shop/Warehouse Areas
Frank’s International, LLC, an Expro company
Expro / predecessor operations at the location since 2008
Lease through April 30, 2030
Approximately 3% annual contractual rent increases
Multiple historical lease renewals
Tenant expanded from 130 Equity into 124 Equity
Two 10-ton overhead cranes + two ½-ton jib cranes
Tenant-installed compressed-air infrastructure
Substantial covered work areas and industrial yard functionality
Limited landlord expense exposure
I-1 Light Industrial zoning
FEMA Flood Zone X
Established Houma energy-services corridor location

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