Catylist ID: #30640190
Market Street Power Plant
Special Purpose for Sale
|Catylist Listing ID:||30640190|
|Building Size (RSF):||162,854 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||7.13 Acres|
|In Opportunity Zone?||Yes|
|Property Use Type:||Investment|
Overview / Comments
The Market Street Power Plant (MSPP) is a historic facility that includes seven plus (7+) acres of ground. The actual power plant buildings contain a total of approximately 163,000 sf of gross building area.
The ground floor is approximately 72,000 +/- sf. Within the building footprint are seven (7) individual buildings that have been constructed, and are interconnected, with various floor sizes.
The facility sits on the Mississippi River between the high-demand New Orleans Warehouse District and the Lower Garden District. The property is immediately upriver from the 1.1 million sf ground floor exhibit space Ernest N. Morial Convention Center and its forty-seven plus (47+) acre development site and offers unobstructed views of the Mississippi River. This area, called the Entertainment District, is in the final planning stages of development into a mixture of retail, residential, hotel, office, and entertainment venue components. The Entertainment District will also include a proposed 1,200 room Convention Center Headquarters Hotel. The MSPP is adjacent to a newly expanded cruise ship terminal and a short distance to the $500 million Four Seasons Hotel, expected to be completed in 2021.
The MSPP is located just south of the New Orleans Central Business District (CBD), the center of commerce for New Orleans. It features fifteen (15) Class A office buildings that contain 9,043,000 +/- rentable square feet of space. Current occupancy of these buildings is 87+%. Both the CBD and the historic French Quarter, located immediately north of the CBD, contain numerous hotel rooms and world-class restaurants, all within short walking distances from the hotels.
The CBD also has a very strong residential presence that features in excess of 6,700 residential apartments and condominiums in the popular Lafayette Square, Warehouse District, and South Market District submarkets. Since 2005, this area has been the recipient in excess of $7 billion in development and investment expenditures.
Attachments & Media
|Nearest MSA:||New Orleans-Metairie|
|Largest Nearby Street:||S. Peters St.|
|Highway Access:||I-10 and US Rte 90 Business (Ponchartrain Expressway)|
|Total Number of Buildings:||7|
|Zoning Description:||High intensity, mixed use district|
|Proximity:||1 mile||3 miles||5 miles|
Hayden Wren, CCIM, SIORCorporate Realty - Main Office New Orleans, LA 70170-0000
Michael J Siegel, SIORCorporate Realty - Main Office New Orleans, LA 70170-0000
Scott Graf, CCIMCorporate Realty - Main Office New Orleans, LA 70170-0000
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