• Year Built: 2001
302 W Prien Lake Rd is aretail property for lease in Lake Charles, LA.
Capitalize on Pier 1's solid track record for success at a location that is growing faster than any other market in the United States. This low-hassle, NN lease carries the added bonus of landlord profit participation as store performance grows.
Lake Charles is the fifth-largest city in Louisiana and is undergoing tremendous industrial growth. This growth continues to bring thousands of skilled jobs to the region, sparking a chain reaction of residential and retail expansion to meet demand. (See attached reports)
In 2015 Pier 1 made significant strides in consolidated e-commerce and home delivery experience through a unique approach that leverages local stores. The corporation has a five-year annual revenue growth rate of 7.65%.
Key Property Offerings:
• Eight (8) years remaining under lease terms
• Two (2) Five-year renewal options
• Annual income of $171,036 plus participation rents
• Additional percentage rents calculated annually
• NN lease and corporate guarantee.
The subject property is located just .7 miles north of Interstate 210 at the intersection of West Prien Lake Road and Ernest Street. Prien Lake Road is one of the most heavily trafficked corridors in this market (over 19,000 cars per day) and this location is the heart of the area's retail hub. Surrounding retailers include: Dick's Sporting Goods, Dillard's, Sears, Kohl's, JCPenney, Talbots, Bath & Body Works, Petco, Best Buy and many more.
Cap rate does not take into consideration Percentage Rents paid annual. Historical figures are 2013 percentage rents received of approximately $15,000 and 2014 percentage rents of approximately $25,000.