Albertsons - Baton Rouge, LA

9650 Airline Hwy Baton Rouge , LA 70815-5505

Albertsons - Baton Rouge, LA - Retail for sale

Overview


JLL is pleased to offer for sale the fee simple interest in a single tenant Albertsons (the Property or "Asset) located in Baton Rouge, Louisiana. The Asset is subject to an absolute NNN lease with Albertsons LLC (the Tenant), and features over 12 years of primary term remaining. In addition, the lease features ten percent rent escalations every five years throughout the primary term. This Asset presents the opportunity to purchase a property leased to one of the countrys largest grocery chains on a long-term basis with contractual rental growth and absolutely zero landlord responsibilities. Broker of Record: Greg Riera - LA - PB00067463

Investment Highlights


• Over 12 years remaining on an absolute NNN lease requiring zero landlord responsibilities, allowing for a completely passive investment
• Anchor tenant to Hammond Aire Plaza, a shopping center with a robust lineup of national retailers that includes Burlington Coat Factory, Marshalls and Rainbow Shops
• Guaranty from Albertson’s LLC, one of the largest grocery operators in the United States with over 2,300 locations across 33 states under 18 well-known banners
• Ten percent rental escalations every five years throughout the primary term, offering steady income growth and a hedge against inflation
• Strategic location near the hard corner and signalized intersection of Airline Highway and Old Hammond Highway, an intersection that sees a traffic count of 90,000 vehicles per day
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 9650 Airline Hwy, Baton Rouge, LA 70815-5505
Land In Acres 5.8
Building Size 66,430  ft2
Financial
Price $12,665,985
Cap Rate 6.75%
Current NOI $854,954.00
Lease
Tenant's Name Albertsons Companies, Incorporated
Guarantor Albertsons Companies, Incorporated
Lease Type NNN
Annual Rent $854,954.00
Lease Expiration Date 10/31/2030
Remaining Term 11.5Yrs
Download Offering Memorandum

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