Mission Critical Single-Tenant Net Lease

Office for Sale
Catylist Listing ID: 30770537
Property Subtypes: Office Building
Building Size (RSF): 32,488 SF
Gross Building Area: 34,290 SF
Gross Land Area: 4.31 Acres
Sale Price: $3,999,000
Unit Price: $123.09 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: General Dynamics Information Technology
Class of Space: Class A
Usable Size (USF): 32,488 SF
Sale Terms: Cash to Seller
Cap Rate: 6.54%
Average Occupancy Rate: 100
Last Updated: 12/1/2021

Overview / Comments

301 Benton Road presents a unique opportunity to acquire a two-story office building located in growing Bossier City, Louisiana. The single-tenant-net-leased (STNL) office building is occupied by General Dynamics Information Technology (GDIT), a publicly-traded, aerospace and defense corporation headquartered in Reston, Virginia with offices throughout the United States. This NNN offering is ideal for investors seeking a long-term investment with minimal landlord responsibilities.
The subject property is strategically positioned at the signalized intersection of Benton Road and LA Hwy. 3 (Benton Spur). The hard-corner parcel consists of 4.31 acres +/- and includes a well-lit concrete parking lot with seven (7) former drive-thru lanes now used as covered parking. The office building was originally constructed as a retail bank operation and served as the bank’s headquarters. The 32,488 sq. ft. building includes 16,528 sq. ft. on the first floor and 15,960 sq. ft. on the second floor.
301 Benton Road has been meticulously maintained by its current owner. In 2018 extensive phased interior renovations to the building were completed; consisting of quality Class A amenities and colorful interior finishes. The sales price is well below the replacement cost for similar assets. 
INVESTMENT HIGHLIGHTS

- Unique opportunity to purchase a single-tenant net-leased (STNL) investment property priced well below replacement cost.
- NNN investment opportunity with a long-term lease and minimal landlord responsibilities
- Over $3.4 million in extensive phased renovations to the entire building were completed in 2018
- Exclusive, lighted, on-site parking for General Dynamics employees and guests. Office has great curb appeal, excellent visibility, and access to all passing traffic
- In 2019 GDIT completed its acquisition of CSRA Inc. The $9.7 billion transaction has made GDIT the largest provider of technology services to the federal government.

Additional Details

Nearest MSA: Shreveport-Bossier City
County: Bossier
Taxing Authority: Bossier
Tax ID/APN: S228 0010
Property Located Between: Benton Road and Benton Sput
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 16,244 SF
Year Renovated: 2018
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,487 58,454 137,100
Median Age: 31.17 33.1 34.65
Households: 4,687 23,769 55,076

Contact

Photograph of Listing Agent

Justin P Langlois

Stirling Properties Baton Rouge Baton Rouge, LA 70809
LACDB Member
Photograph of Listing Agent

James S Dowling

Stirling Properties Baton Rouge Baton Rouge, LA 70809
LACDB Member
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