Southgate Strip

Highlights:

• 5K SF Center Shadow-anchored by Domi- nant, Grocery-anchored Community Center. - The available 5,000 square foot building (Phase II) is adjacent to Southgate shopping center, which features 157,818 square feet of premier retail space and fourteen (14) tenants including Market Basket, Dollar Tree, Office Depot and Books-a-Million among others.
• Value-Add Opportunity with Strong Placer.ai Rankings. - Currently 80% leased, the 5,000 SF Southgate Phase II building is a 3-unit property with two (2) tenants and one (1) vacant unit including 1,000 square feet of available space to lease. Wingstop is open for business, and Zen Bowl Express is building out its space and expects to open June/July 2026. According to Placer.ai, there are more than 1.3 million annual customer visits to Southgate (phase I & II) and three (3) existing anchor tenants at Southgate maintain compelling chain store rankings:
• Market Basket: Top 73% (percentile) of stores statewide - 5th out of 15 stores
• Books-A-Million: Top 72% (percentile) of stores nationwide - 30th out of 107 stores
• Dollar Tree: Top 67% (percentile) of stores statewide - 58th out of 177 stores
• Below-Market Rents and Compelling Rent Growth. - Based on the in-place and proforma Net Operating Incomes (NOI’s) for the 5K SF property, an investor could realize an increase of approximately 175 basis points of annual cash return once the existing vacant space is leased. Existing rents at Southgate Phase I and II average only $13.10/SF and are considered well-below market in the Lake Charles market.
• Affluent/Growing Household Incomes and Dense Population. - Southgate is surrounded by affluent incomes and dense population. Within a 1-mile radius, there are more than 10,151 residents with average household incomes of $77,340 (2024) and $89,691 (2029). Within a 3-mile radius of the center, there are more than 63,160 residents with average household incomes exceeding $77,492 (2024) and $89,499 (2029).

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