Net Lease Walmart Property for Sale Date January 26, 2017
The Boulder Group is pleased to exclusively market for sale a single tenant newly constructed net lease Walmart Neighborhood Market property located at 15047 Airline Highway, Prairieville, LA. The net lease Walmart Neighborhood Market is strategically located at the signalized intersection of Duplessis Road and Airline Highway (US-61), the primary thoroughfare of Ascension Parish, Louisiana. The property is a new prototype featuring a drive-thru pharmacy, fuel station and all-new online grocery pickup. This is one of the first 41.2 prototype which highlights a new open layout to make merchandise more visible, an expanded and improved service deli & bakery, and an upgraded building elevation. The fifteen year Walmart Neighborhood Market lease is expected to commence in April 2017. The lease features 3% rental escalations every five years throughout the primary term and 5% rental escalations in each of the seventeen 5-year renewal options periods. There are no landlord responsibilities in this absolute triple net lease.
There are over 33,000 people living within a three mile radius of the property earning an average household income of over $95,000 per year. Prairieville is an expanding bedroom suburb of Baton Rouge, with new residents particularly drawn to the area by its high-performing public schools and low crime rate. Prairieville is the largest community in Ascension Parish.
The 43,482 square foot Walmart Neighborhood Market is located at the signalized intersection of Duplessis Road and Airline Highway (US Highway 61). US Highway 61 is the primary north-south thoroughfare in the trade area and experiences traffic counts of 22,742 vehicles per day. There are a number of new developments in the area as the local community continues to grow. A new development across the street on US Highway 61 recently opened anchored by a LeBlanc’s Foods, a Louisiana grocer and one of the Top 100 businesses in the Baton Rouge MSA.
Walmart Neighborhood Market stores are used to fill the gap between supercenters and discount stores, offering a variety of products including full lines of groceries, pharmaceuticals, health and beauty aids, and a limited selection of general merchandise. Walmart currently has 683 Neighborhood Market stores. Walmart is an investment grade rated tenant with a Standard & Poor’s rating of AA.Back