Broussard, LA - Fortress Downhole Tools

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an Absolute NNN leased, Fortress Downhole Industrial Building investment property located in Broussard, Louisiana. The tenant, Fortress Downhole Tools, LLC recently signed a brand new 6 year lease with 1 (6-year) option to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 3 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is Absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The building is going through $338,000 worth of expansions and renovation that features a state-of-the-art design with high-quality materials.

The subject property is located near U.S. Hwy 90, a major retail road serving the city of Broussard averaging nearly 40,200 vehicles passing by daily. The site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Walmart Supercenter, Home Depot, AutoZone, Dollar General, Albertsons, Chevron, and many more. Strong tenant synergy increases consumer draw to the immediate subject area and promotes crossover store exposure to the site. The property’s significant street frontage along Sugarland Dr. creates excellent visibility for the site. Furthermore, the subject property is located in close proximity to Katharine Drexel Elementary School (558 students), further increasing consumer traffic to the site. The 5-mile trade area is supported by more than 52,000 residents and 29,000 daytime employees, providing a direct consumer base from which to draw. Residents within a 1-mile of the subject property boast an affluent average household income of $118,717.