Catylist ID: #30468281
Office for SaleAlso listed as Retail-Commercial
|Catylist Listing ID:||30468281|
|Property Subtypes:||Business Park, Office Building|
|Building Size (RSF):||73,479 SF|
|Gross Building Area:||See Agent|
|Sale Price:||$13,000,000 - 16,000,000|
|Unit Price:||$176.92 - 217.75 PSF|
|Property Use Type:||Investment|
|Class of Space:||Class A|
|Average Occupancy Rate:||83|
Overview / Comments
Covington’s Village Walk is a master planned development of a 3 story office building, retail centers and six (6) acres of additional developable land. Covington is a beautiful suburb of New Orleans located just north of Lake Pontchartrain.
For a full offering memorandum go to:
Offers due on September 13, 2019.
Covington’s Village Walk includes the following components:
1) The Office Building, a +/- 45,000 gross square foot, three story office building, which is currently 83% leased and is home to anchor tenants including Resource Bank, Laporte CPAs & Business Advisors (a large regional accounting firm) and GSA – Department of Labor – the Administrative Law Judges.
2) Covington’s Village Walk Shopping Center, a three building, 28,479 square foot retail strip center, which is 85% leased and is home to anchor tenants including Abita Roasting Company (a local artisan coffee house and café) and Anytime Fitness.
3) Six (6) acres of raw land divided into three shovel ready pad sites where the infrastructure, site improvements, and paved parking are already in place. These sites were originally planned as office building sites for the development of an additional 90,000 square feet of office space. They also could be developed as additional retail space or even residential (townhouse – condo) / multi-family development.
Attachments & Media
|Finance Data Year||2019|
|Net Operating Income||$712,959 (Annual)|
|Actual or Proforma Year||Proforma|
|Nearest MSA:||New Orleans-Metairie|
|Property Located Between:||Near downtown Covington|
|Highway Access:||Just off of Highway 190|
|Site Description:||10.92 acres total|
|Total Number of Buildings:||4|
|Number of Stories:||3|
|Parking Ratio:||8 (per 1000 SF)|
|Total Parking Spaces:||576|
|Proximity:||1 mile||3 miles||5 miles|
Barry H SpizerSRSA Commercial Real Estate Metairie, LA 70002
Stephanie BoydSRSA Commercial Real Estate Metairie, LA 70002
Michael CorriganSRSA Commercial Real Estate Metairie, LA 70002
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