Executive Office Tower

Office for Sale
Call for Offers
Catylist Listing ID: 30836027
Property Subtypes: Office Building
Building Size (RSF): 188,123 SF
Gross Building Area: See Agent
Gross Land Area: 5.26 Acres
Sale Price: $1
Unit Price: $0 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Call for Offers: Yes
Cap Rate: Undisclosed
Last Updated: 3/22/2023

Overview / Comments

Goodwin Advisors and Property One are pleased to present to qualified investors the opportunity to acquire Executive Tower, an exceptional core-plus investment opportunity located in Metairie, Louisiana.

Executive Tower is a 14-story office tower originally designed with a mid-century modern style that is currently 89.8% occupied. The Building is located in the heart of the Metairie Business District on over five acres, three of which are currently a surface parking lot that is prime for redevelopment. The development site has broad zoning rights and is located within an Opportunity Zone.

The Building is the premier Class B office tower in the very stable Metairie office market. Current ownership acquired the property in 2018, has invested important back of the house capital improvements and pushed rents.

The three-acre surface parking lot is highly sought-after development site in a key location in the most valuable district of Metairie. Development here would be highly advantageous to Jefferson Parish government, who has indicated support for investment at this site.

The existing cash flow of the Property with the ability to push rents plus the development of the surface parking lot combine to make a generational or medium- term investment opportunity.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Jefferson
Submarket/Township: Airport-Metairie-Kenner
Tax ID/APN: 67378

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,110 122,546 290,477
Median Age: 41.27 41.16 39.32
Households: 9,556 54,606 123,334


Photograph of Listing Agent

Matt Taylor

Property One Inc New Orleans Metairie, LA 70002
LACDB Member
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