61,793...Other: Early termination right with 90-day notice if sales during any lease year do not...
Transcript of 61,793...Other: Early termination right with 90-day notice if sales during any lease year do not...
CONFIDENTIAL OFFERING MEMORANDUM
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SHOPPING CENTERCROWLEY
27,228 SF | +/- 2.21 Acreswww.dumesfalk.com
Vehicles Per Day 61,793
22,111Combined
Vehicles Per Day
Acadia General HospitalHalf Mile Away
SUBJECTPROPERTY
Building Two: 753 Odd Fellows Road,
Crowley, LA 70526
Building One: 725 Odd Fellows Road,
Crowley, LA 70526
C O N F I D E N T I A L I T Y & D I S C L A M E R
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the
party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of
Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and
to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the
income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the
property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and
Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or
any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has
been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information
contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation
whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to
verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,
Inc. © 2018 Marcus & Millichap. All rights reserved
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package.
The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said
corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap,
and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
N O N - E N D O R S E M E N T N O T I C E
SHOPPING CENTERCROWLEY
JOEL M. DUMESSenior Vice President Investments
Senior Director - National Retail Group
Cincinnati Office
Tel: (513) 878-7720
Fax: (513) 878-7710
Licenses: OH SAL.2003013045, KY 63818
STANTON R. FALKFirst Vice President Investments
Senior Director - National Retail Group
Cincinnati Office
Tel: (513) 878-7721
Fax: (513) 878-7710
Licenses: OH SAL.2012001364
www.dumesfalk.com
RYAN K. ROEDERSHEIMERSenior Associate
Director - National Retail Group
Cincinnati Office
Tel: (513) 878-7796
Fax: (513) 878-7710
Licenses: OH SAL.2015004880
Broker of Record: Chris Shaheen
TABLE OF CONTENTS
01INVESTMENT OVERVIEW
02
03
PRICING & FINANCIAL ANALYSIS
DEMOGRAPHICS & MARKET OVERVIEW
01INVESTMENT
OVERVIEW
6
INVESTMENT HIGHLIGHTS
Walmart Shadow Anchored Shopping Center | Two Buildings Totaling 27,228 Square Feet
18 Percent or 4,800 Square Feet of Realizable Vacancy Upside
95 Percent of Current Income from National and Regional Tenants
Strong Historical Occupancy | All Triple-Net Leases Except for One Tenant
Ample Parking with Multiple Points of Ingress and Egress
Positioned Off Interstate-10 Which Sees Over 60,000 VPD
Located Near Acadia General Hospital, City’s Largest Employer
Parish Seat of Acadia Parish, Louisiana | Lafayette, LA MSA
P
SHOPPING CENTERCROWLEY
7
BUILDING 1
8
BUILDING 2
9
Building Two
Building One
10
Vehicles Per Day 61,793
22,111Combined
Acadia General Hospital
Half Mile Away
Vehicles Per Day SUBJECT
PROPERTY
53 Miles WestLake Charles
23 Miles EastLafayette
Major Crowley Employers• Acadia General Hospital• Walmart• Capitol Manufacturing Co.• Francis Drilling Fluids LTD• First National Bank of LA
*Site plan is a representation of the property with the number of units, parking spots and relative size of both. It does not show the absolute exact size of the units relative to the other spaces or the exact number of parking spots. 11
Hibbett Sports(1)
Check Into Cash(2)
Cricket Wireless(3)
Nail Salon(4)
GameStop(5)
Advance America Cash
(6)
GNC(7)
4,000 SF 1,275 SF 1,275 SF 1,275 SF 1,403 SF 1,200 SF 1,200 SF
AT&T(8)
Republic Finance(9)
Sally Beauty(10)
XpressMedUrgent Care
(11)
Vacant(12)
Select Physical Therapy
(13)
US Agencies(14)
1,600 SF 1,600 SF 1,520 SF 2,200 SF 4,800 SF 1,800 SF 2,080 SF
Key:NOT Included in Deal
Included in Deal
54321
SUBJECT PROPERTY
Acadia General Hospital
Notre Dame High School
Southwind Nursing & Rehab Center
Harvest Labs, Inc.
Crowley City Court
Grand Opera House of the South
Louisiana Rice Mill
Falcon Rice Mill
New World Forest Products G & H
Seed
Southwest Rice Mill
SLCC Acadian Campus Martin Luther
King Building
Capitol Manufacturing
RivianaFoods
North Crowley Elementary School
South Crowley Elementary School
Crowley Grain Drier
Army National Guard Recruiting
Edwards Park
Acadia Parish Alternative School
Crowley Middle School
Bayou Bend Country Club
Bronco Fields
N
12
13
195-Miles
82-Miles
154-Miles
75-Miles
229-Miles
205-Miles 177-Miles228-Miles
440-Miles
473-Miles
208-Miles
274-Miles
403-Miles277-Miles
23-Miles
02PRICING & FINANCIAL
ANALYSIS
Building One: 725 Odd Fellows Rd, Crowley, LA 70526
DEMOGRAPHICS
1-Mile 3-Miles 5-Miles
2018 Estimated Population 2,901 15,976 18,945
2018 Estimated Households 1,118 6,026 6,987
Daytime Population 4,078 16,645 18,555
Average Household Income $55,098 $53,648 $54,952
SITE DESCRIPTION
Built 1999 | 2000
Gross Leasable Area (GLA) 27,228 SF
Current Occupancy 82%
Lot Size +/- 2.21 Acres
Ownership Fee Simple
MAJOR TENANTS
TENANT GLALEASE
EXPIRATIONLEASE
TYPE
Hibbett Sports #278 4,000 03/31/2021 NNN
XpressMed Urgent Care 2,200 07/31/2022 Gross
USAgencies #746 2,080 03/31/2021 NNN
Sally Beauty #2143 1,520 07/31/2024 NNN
AT&T Mobility 1,600 01/31/2024 NNN
MAJOR EMPLOYERS
EMPLOYER
Acadia General Hospital
Walmart
Capitol Manufacturing Co
Francis Drilling Fluids LTD
First National Bank of LA
15Marcus & Millichap makes no representations as to the accuracy of the information contained herein. Buyer must verify all information and bears all risk for any inaccuracies.
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EXECUTIVE SUMMARY
Building Two: 753 Odd Fellows Rd, Crowley, LA 70526
SHOPPING CENTERCROWLEY
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RENT ROLL AND TENANT LEASE SUMMARY
Marcus & Millichap makes no representations as to the accuracy of the information contained herein. Buyer must verify all information and bears all risk for any inaccuracies.
Tenant Name (Lease Type)
Tenant Description
SquareFeet
Pro-RataShare
Lease
Commence
Lease
Expiration
AnnualRent/ SF
Monthly
Base Rent
Annual
Base Rent
Base Rent
Changes On
Base Rent
Changes ToTenant Option Terms
Advance America #257 (Triple-Net) 1,200 4.41% 10/30/1998 07/31/2022 $21.85 $2,185 $26,218 None None One, Three-Year
Advance America, Cash Advance Centers, Inc.
+/- 1,900 Locations
A national provider offering easy in-store and
online cash advances, fast cash loans, title loans
and more.
CAM & MGMT: Pro-rata share (Opt. 6) 08/01/2022 $26,400 Years 24 – 27
Taxes: Pro-rata share
Insurance: Pro-rata share
Other: Early termination due to a change in law with a 90-day notice and payment of 6 months rent
GNC #8563 (Triple-Net) 1,200 4.41% 01/27/1999 07/31/2023 $19.95 $1,995 $23,940 None None One, Five-Year
General Nutrition Corporation (NYSE: GNC)
+/- 8,800 Locations
The largest global specialty retailer of nutritional
products, including supplements, herbs, sports
nutrition, diet, and energy products.
CAM & MGMT: Pro-rata share with 7% increase cap excluding snow removal (Opt. 6) 08/01/2023 $25,140 Years 25 - 30
Taxes: Pro-rata share
Insurance: Pro-rata share
Other: Early termination right with 90-day notice if sales during any lease year do not exceed $225,000
AT&T Mobility (Triple-Net) 1,600 5.88% 01/28/1999 01/31/2024 $17.50 $2,333 $28,000 None None One, Three-Year
New Cingular Wireless PCS, LLC.
+/- 5,000 Locations
A subsidiary of AT&T, Inc., is one of the largest
mobile voice and data communication services in
the United States.
CAM & MGMT: Pro-rata share (Opt. 6) 02/01/2024 $28,800 Years 26 – 29
Taxes: Pro-rata share
Insurance: Pro-rata share
Other: None
Republic Finance (Triple-Net) 1,600 5.88% 02/01/2017 06/30/2023 $16.50 $2,200 $26,400 None None One, Five-Year
Republic Finance, LLC.
+/- 211 Locations
A regional provider offering a variety of consumer
loans, flexible lending options and incomparable
customer service.
CAM & MGMT: Pro-rata share plus 10% admin. fee (Opt. 1) 07/01/2023 $29,040 Years 7 – 11
Taxes: Pro-rata share
Insurance: Pro-rata share plus 10% admin. fee
Other: None
Sally Beauty #2143 (Triple-Net) 1,520 5.58% 03/10/1999 07/31/2024 $14.00 $1,773 $21,280 None None None
Sally Beauty Supply, LLC.
+/- 3,000 Locations
The largest retailer of professional beauty
supplies in the world with more than 9,000
products for hair, nail and skin.
CAM & MGMT: Pro-rata share with 8% increase cap excluding snow removal
Taxes: Pro-rata share
Insurance: Pro-rata share
Other: Early termination right at anytime during 8/21 to 7/22 with 180-day prior notice
XpressMed Urgent Care (Gross) 2,200 8.08% 03/31/2017 07/31/2022 $15.00 $2,750 $33,000 None None Two, Five-Years
Xpress Urgent Care of Crowley, LLC.
2 Locations
A local urgent care offering all non-life
threatening medical needs using the latest
testing and state of the art x-ray equipment.
CAM & MGMT: None (Opt. 1) 08/01/2022 $36,300 Years 6 – 10
Taxes: None (Opt. 2) 08/01/2027 $39,930 Years 11 – 15
Insurance: None
Other: One-time early termination right at end of 36th month with 90-day notice and payment of 3 months rent
Select Physical Therapy (Triple-Net) 1,800 6.61% 04/15/2016 08/30/2021 $18.85 $2,827 $33,922 09/01/2020 $34,770 Two, Three-Years
Crowley Physical Therapy Clinic, Inc.
+/- 1,600 Locations
A national provider offering a wide range of
services such as hand therapy, sports medicine
and work injury prevention and management.
CAM & MGMT: Pro-rata share with 7% increase cap excluding snow removal and utilities (Opt. 1) 09/01/2021 $35,639 Year 6
Taxes: Pro-rata share (Opt. 1) 09/01/2022 $36,530 Year 7
Insurance: Pro-rata share (Opt. 1) 09/01/2023 $37,443 Year 8
Other: One-time early termination right at end of 36th month with 90-day notice and payment of 3 months rent (Opt. 2) 09/01/2024 $38,380 Year 9
(Opt. 2) 09/01/2025 $39,339 Year 10
(Opt. 2) 09/01/2026 $40,323 Year 11
SHOPPING CENTERCROWLEY
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RENT ROLL AND TENANT LEASE SUMMARY
Marcus & Millichap makes no representations as to the accuracy of the information contained herein. Buyer must verify all information and bears all risk for any inaccuracies.
Tenant Name (Lease Type)
Tenant Description
SquareFeet
Pro-RataShare
Lease
Commence
Lease
Expiration
AnnualRent/ SF
Monthly
Base Rent
Annual
Base Rent
Base Rent
Changes On
Base Rent
Changes ToTenant Option Terms
USAgencies #746 (Triple-Net) 2,080 7.64% 02/03/2010 03/31/2021 $17.50 $3,034 $36,410 None None None
CIGH Property Holdings, Inc.
+/- 83 Locations
A brand to trust with experienced insurance
advisors for low-cost auto insurance, with
locations throughout Alabama and Louisiana.
CAM & MGMT: Pro-rata share with 5% increase cap excluding snow removal and utilities plus 10% admin. fee
Taxes: Pro-rata share
Insurance: Pro-rata share
Other: None
Hibbett Sports #278 (Triple-Net) 4,000 14.69% 03/28/2000 03/31/2021 $14.75 $4,917 $59,000 None None One, Three-Year
Hibbett Sporting Goods, Inc. (NASDAQ: HIBB)
+/- 1,085 Locations (S&P: 600 Component)
A full line sporting goods retailer offering a wide
range of athletic equipment, footwear and
apparel.
CAM: Pro-rata share with 5% increase cap excluding snow removal plus 15% admin. fee (Opt. 5) 04/01/2021 $61,000 Years 21 - 23
Taxes: Pro-rata share, does not reimburse increase in taxes due to sale or transfer
Insurance: Pro-rata share
Other: Co-Tenancy with Walmart
Check Into Cash #16028 (Triple-Net) 1,275 4.68% 06/06/2000 11/30/2019 $20.47 $2,175 $26,100 None None Three, Three-Year
Check Into Cash, Inc.
+/- 800 Locations
A national leader in short-term credit solutions
offering everything from online payday loans to
walk-in bill pay.
CAM & MGMT: Pro-rata share with 7% increase cap excluding snow removal (Opt. 5) 12/01/2019 $27,600 Years 20 – 22
Taxes: Pro-rata share (Opt. 6) 12/01/2022 $28,980 Years 23 – 25
Insurance: Pro-rata share (Opt. 7) 12/01/2025 $30,429 Years 26 – 28
Other: Early termination due to a change in law with a 90-day notice and payment of 6 months rent
Cricket Wireless (Triple-Net) 1,275 4.68% 12/01/2016 03/31/2021 $18.00 $1,913 $22,950 None None One, Three-Year
Optimal Wireless, LLC
+/- 153 Locations
An authorized Cricket retailer offering prepaid
wireless services using the AT&T’s national
network.
CAM & MGMT: Pro-rata share (Opt. 1) 04/01/2021 TBD: Market Rate Years 6 – 8
Taxes: Pro-rata share
Insurance: Pro-rata share
Other: None
Nails & Tan (Triple-Net) 1,275 4.68% 09/12/2017 05/31/2022 $16.94 $1,800 $21,600 06/01/2020 $22,200 One, Five-Year
Personal
1 Location
A local nail salon dedicated to providing clients
with premium nail services and has received
excellent online reviews.
CAM & MGMT: Pro-rata share plus a 10% admin. fee (Opt. 1) 06/01/2022 $22,200 Years 6 – 7
Taxes: Pro-rata share (Opt. 1) 06/01/2024 $22,800 Years 8 – 9
Insurance: Pro-rata share plus a 10% admin. fee (Opt. 1) 06/01/2026 $23,400 Year 10
Other: None
GameStop #2650 (Triple-Net) 1,403 5.15% 02/01/2004 01/31/2020 $19.24 $2,250 $26,998 None None None
GameStop, Inc.
+/- 7,275 Locations
An American video game, consumer electronics,
and wireless services retailer with 22,000 full-
time employees throughout five countries.
CAM: Pro-rata share plus a 15% administrative fee
Taxes: Pro-rata share
Insurance: Pro-rata share
Other: Co-Tenancy with Walmart
Vacant 4,800 17.63%
Total Occupied 22,428 82.37% $32,152 $385,818
Total Vacant 4,800 17.63% $0 $0
Total 27,228 100% $32,152 $385,818
SHOPPING CENTERCROWLEY
18
PRICING DETAIL & OPERATING DATA
List Price $4,000,000
CAP Rate 8.91%
Price/SF $147
Net Operating Income $356,217
Gross Leasable Area (GLA) 27,228 SF
Occupancy 82%
Scheduled Base Rental Income $385,818
Expense Reimbursement Income
CAM $13,175
Insurance $10,401
Real Estate Taxes $34,701
Management Fees $10,909
Total Reimbursement Income $69,187
Pylon Sign Income $4,200
Effective Gross Revenue $459,205
Less: Operating Expenses ($102,988)
Net Operating Income $356,217
Debt Service ($215,729)
Net Cash Flow After Debt Service 14.05% $140,488
Principal Reduction $59,651
Total Return 20.01% $200,139
CURRENT OPERATING DATA
Loan Type Proposed New
Down Payment 25% | $1,000,000
Loan Amount 75% | $3,000,000
Interest Rate | Amortization 5.25% | 25 Years
Debt Coverage Ratio 1.65
LOAN INFORMATION
Marcus & Millichap makes no representations as to the accuracy of the information contained herein. Buyer must verify all information and bears all risk for any inaccuracies.
Operating Expenses Current Per/SF
Com
mon A
rea
Main
tenance Electric $3,557 $0.13
Landscaping $2,750 $0.10
Lot Sweeping $5,472 $0.20
General R&M $6,035 $0.22
Total CAM Expenses $17,814 $0.65
2018 Insurance $14,000 $0.51
2019 Real Estate Taxes* $46,710 $1.72
Management Fee (4% of EGR) $17,764 $0.65
Estimated Reserves $6,700 $0.25
Total Expenses $102,988 $3.78
*Real Estate Taxes based on 2019 value of $3,888,200
THE OFFERING
SHOPPING CENTERCROWLEY
03DEMOGRAPHICS & MARKET
OVERVIEW
20
DEMOGRAPHIC OVERVIEW
Marcus & Millichap makes no representations as to the accuracy of the information contained herein. Buyer must verify all information and bears all risk for any inaccuracies.
Source: © 2018 Experian
Created on April 2019
POPULATION 1-Miles 3-Miles 5-Miles▪ 2023 Projection
Total Population 2,869 15,693 18,665
▪ 2018 Estimate
Total Population 2,901 15,976 18,945
▪ 2010 Census
Total Population 2,865 15,950 18,864
▪ 2000 Census
Total Population 3,241 16,806 19,533
▪ Current Daytime Population
2018 Estimate 4,078 16,645 18,555
HOUSEHOLDS 1-Miles 3-Miles 5-Miles▪ 2023 Projection
Total Households 1,122 6,016 6,987
▪ 2018 Estimate
Total Households 1,118 6,026 6,987
Average (Mean) Household Size
2.51 2.57 2.61
▪ 2010 Census
Total Households 1,108 6,053 6,996
▪ 2000 Census
Total Households 1,191 6,185 7,034
▪ Occupied Units
2023 Projection 1,122 6,016 6,987
2018 Estimate 1,274 6,869 7,925
HOUSEHOLDS BY INCOME 1-Miles 3-Miles 5-Miles▪ 2018 Estimate
$150,000 or More 5.96% 4.41% 4.38%
$100,000 - $149,000 7.93% 10.08% 10.43%
$75,000 - $99,999 11.49% 8.48% 8.96%
$50,000 - $74,999 14.13% 13.63% 14.72%
$35,000 - $49,999 12.75% 14.00% 14.58%
Under $35,000 47.75% 49.40% 46.92%
Average Household Income $55,098 $53,648 $54,952
Median Household Income $37,559 $35,667 $38,390
Per Capita Income $21,582 $20,637 $20,623
HOUSEHOLDS BY EXPENDITURE 1-Miles 3-Miles 5-MilesTotal Average Household Retail Expenditure $51,558 $49,173 $50,577
▪ Consumer Expenditure Top 10 Categories
Housing $13,728 $13,193 $13,530
Transportation $10,165 $9,922 $10,226
Shelter $6,986 $6,729 $6,881
Food $5,137 $4,952 $5,095
Personal Insurance and Pensions $3,791 $3,558 $3,747
Health Care $3,751 $3,503 $3,598
Utilities $3,613 $3,501 $3,587
Entertainment $2,180 $2,076 $2,152
Household Furnishings and Equipment $1,508 $1,434 $1,497
Cash Contributions $1,505 $1,410 $1,454
POPULATION PROFILE 1-Miles 3-Miles 5-Miles▪ Population By Age
2018 Estimate Total Population 2,901 15,976 18,945
Under 20 27.01% 28.37% 28.39%
20 to 34 Years 19.24% 19.70% 19.60%
35 to 39 Years 5.26% 5.52% 5.71%
40 to 49 Years 10.21% 10.59% 10.95%
50 to 64 Years 19.02% 19.35% 19.50%
Age 65+ 19.25% 16.46% 15.85%
Median Age 38.48 36.66 36.69
▪ Population 25+ by Education Level
2018 Estimate Population Age 25+ 1,941 10,460 12,405
Elementary (0-8) 10.00% 13.15% 12.76%
Some High School (9-11) 18.18% 15.66% 15.37%
High School Graduate (12) 37.19% 34.85% 35.91%
Some College (13-15) 14.92% 16.80% 16.87%
Associate Degree Only 5.63% 4.71% 4.69%
Bachelors Degree Only 9.10% 9.70% 9.52%
Graduate Degree 2.38% 3.05% 2.91%
SHOPPING CENTERCROWLEY
21
DEMOGRAPHIC OVERVIEW
Marcus & Millichap makes no representations as to the accuracy of the information contained herein. Buyer must verify all information and bears all risk for any inaccuracies.
Income
In 2018, the median household income for your selected geography is
$38,390, compare this to the US average which is currently $58,754.
The median household income for your area has changed by 45.55%
since 2000. It is estimated that the median household income in your
area will be $44,122 five years from now, which represents a change
of 14.93% from the current year.
The current year per capita income in your area is $20,623, compare
this to the US average, which is $32,356. The current year average
household income in your area is $54,952, compare this to the US
average which is $84,609.
Population
In 2018, the population in your selected geography is 18,945. It is
estimated that the population in your area will be 18,665 five years
from now. The current population is 47.96% male and 52.04% female.
The median age of the population in your area is 36.69, compare this
to the US average which is 37.95. The population density in your area
is 241.37 people per square mile.
Households
There are currently 6,987 households in your selected geography. It is
estimated that the number of households in your area will be 6,987
five years from now. The average household size in your area is 2.61
persons.
Employment
In 2018, there are 18,555 employees in your selected area, this is also
known as the daytime population. The 2000 Census revealed that
52.57% of employees are employed in white-collar occupations in this
geography, and 47.61% are employed in blue-collar occupations. In
2018, unemployment in this area is 7.35%. In 2000, the average time
traveled to work was 26 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:
69.60% White, 26.86% Black, 0.00% Native American and 0.66%
Asian/Pacific Islander. Compare these to US averages which are:
70.20% White, 12.89% Black, 0.19% Native American and 5.59%
Asian/Pacific Islander. People of Hispanic origin are counted
independently of race.
People of Hispanic origin make up 2.43% of the current year
population in your selected area. Compare this to the US average of
18.01%.
Housing
The median housing value in your area was $97,823 in 2018, compare
this to the US average of $201,842. In 2000, there were 4,497 owner
occupied housing units in your area and there were 2,537 renter
occupied housing units in your area. The median rent at the time was
$249.
Source: © 2018 Experian
SHOPPING CENTERCROWLEY
22
DEMOGRAPHIC OVERVIEW
Source: © 2017 ExperianMarcus & Millichap makes no representations as to the accuracy of the information contained herein. Buyer must verify all information and bears all risk for any inaccuracies.
MARKETING TEAM
OVERVIEW
LAFAYETTE , LA
FRENCH CONNECTION
Lafayette maintains a Cajun population, descendants of French colonists
expelled from Eastern Canada’s Maritime Provinces during the 18th century.
RAGIN’ CAJUNS
The metro is home to the University of Louisiana at Lafayette. The college is
the state’s second largest with a student population greater than 19,000.
ENERGY INDUSTRY
The region’s oil fields are a primary economic driver. The metro is adjusting
from the industry’s recent downturn.
Lafayette is situated in southwestern Louisiana and considered the
epicenter of Cajun culture. The largest and most populous portion of
French Louisiana’s Acadiana region, the metro is known for its Cajun and
Creole cuisine, entertainment and Zydeco music. A hub for in-state trade,
Lafayette lies an hour west of Baton Rouge and roughly 120 miles from
New Orleans. Metro population growth of 12,000 residents is expected in
the next five years, spread between the parishes of Acadia, Iberia,
Lafayette, St. Martin and Vermilion.
▪ Oil-field service companies maintain a sizable local presence despite recent job cuts. Frank’s
International, Island Operating Co., WHC, Schlumberger and Baker Hughes all maintain payrolls
between 700 and 1,000 workers.
▪ Lafayette is home to Stuller, the world’s largest jewelry and setting manufacturer. The company
employs more than 1,200 people.
▪ Education and healthcare employment supported the metro’s economy while the oil industry
struggled. Lafayette General Health and Lafayette Parish School System account for a large
portion of the jobs.
DEMOGRAPHICS
ECONOMY
METRO HIGHLIGHTS
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau
499K
2018POPULATION:
191K
2018HOUSEHOLDS:
35.7
2018MEDIAN AGE:
$45,900
2018 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
38.0U.S. Median:
$58,8003.6%
Growth2018-2023*:
2.5%
Growth2018-2023*:
SHOPPING CENTERCROWLEY
SHOPPING CENTERCROWLEY
JOEL M. DUMESSenior Vice President Investments
Senior Director - National Retail Group
Cincinnati Office
Tel: (513) 878-7720
Fax: (513) 878-7710
Licenses: OH SAL.2003013045, KY 63818
STANTON R. FALKFirst Vice President Investments
Senior Director - National Retail Group
Cincinnati Office
Tel: (513) 878-7721
Fax: (513) 878-7710
Licenses: OH SAL.2012001364
www.dumesfalk.com
RYAN K. ROEDERSHEIMERSenior Associate
Director - National Retail Group
Cincinnati Office
Tel: (513) 878-7796
Fax: (513) 878-7710
Licenses: OH SAL.2015004880
Broker of Record: Chris Shaheen