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Jennings, LA - Jennings Retail Center
211 W. Interstate Drive | Jennings, LA 70546
Description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, newly built, two-tenant, retail strip investment property located in Jennings, LA. The offering features a strong retail-based tenant lineup of Starbucks and T-Mobile, who have recently signed brand new 10-year leases with additional options to extend, demonstrating their commitment to the site. In addition, the leases feature scheduled rental increases every 5 years throughout the initial term and options (see rent roll), growing NOI and hedging against inflation. The asset, which was built in 2023, provides zero short term rollover with a weighted average lease term of nearly 10 years and features a state-of-the-art design using the highest-quality materials available. Furthermore, both tenants operate under leases which are NNN in nature, limited expense leakage for a future investor.
Location
The subject property is strategically located along Elton Road with clear visibility and access to an average of 36,400 vehicles passing by daily. The property also benefits from direct access onto Interstate 10 (62,300 VPD), making this a centralized location with easy access for customers and employees. The asset is ideally situated within a dense retail trade area and lies as an outparcel to Jennings Plaza, anchored by a 178K+ SF Walmart Supercenter which averaged 1.9M annual visits from March 2023 to February 2024. The additional nearby tenants include Tractor Supply Co., AutoZone, Lyons Mart, Stine Home & Yard, McDonald’s, Walgreens, Hibbett Sports, and others. The strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Moreover, the property is near numerous single-family communities and multi-family complexes including Cory Park Apartments (30 units), Cyrus Homes (32 units), Southwind (36 units), and others, providing a direct residential consumer base for the site. The 5-mile trade area is supported by more than 13,900 residents and 7,200 daytime employees, with an annual average household income of $76,623.