The Plaza Shopping Center

Price: $11,975,000
Sq. Ft.: 96,765
Cap Rate: 8.02%
Built: 1987
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GROCERY ANCHORED RETAIL OFFERING

  • The Plaza One Shopping Center is a 96,765 square foot Super 1 Foods anchored retail center located in Monroe, LA
  • Super 1 Foods has been in this location for 35 years and just executed a new 10-Year lease extension through 2032
  • Leasing Momentum | Seller has executed 4 new leases & extensions since 2020
  • Average Tenant Tenure (Existing Tenants) | 12 Years
  • 100% Stabilized Retail Center
  • Brand new roof installation with warranty finalized in July of 2023

SUPER 1 FOODS | BROOKSHIRE GROCERY

  • Super 1 Foods occupies 74% of the total shopping center and has just executed a new 10-Year lease extension through 2032
  • Super 1 Foods has a long history of strong performance in this center over the last 35 years and reported sales of $23,829,506 in 2021
  • $330 PSF | 2.41% Health Ratio
  • Super 1 Foods is Corporately Guaranteed from Brookshire Grocery which boasts more than $2.5 Billion in annual revenue and has been featured on the Top 200 List of Private Companies as per Forbes
  • Brookshire Grocery Co announced on July 11 that Walgreens will acquire BGC’s 120 pharmacies in Texas, Louisiana, and Arkansas, which includes pharmacy customer prescription files and related pharmacy inventory. Most locations will be c­onverted to Walgreens pharmacies.
  • The chain is a regional grocer with 49 locations across Texas, Louisiana, and Arkansas

HISTORY OF STRONG PERFORMANCE

  • The Plaza One Shopping Center has been a well-known retailer to the Monroe community since 1973 and has a history of strong tenant performance
  • The property is stabilized at 100% and has consistently high occupancy over the life of the investment
  • Average Tenant Tenure (Existing Tenants) | 12 Years
  • Leasing Momentum | Seller has executed 4 new leases & extensions since 2020

MONROE, LA

  • Monroe is the eighth-largest city in Louisiana with a population of 47,480 and is the principal city of the Monroe MSA
  • Home to the University of Louisiana Monroe (8,489 students) and Louisiana Delta Community College (4,522 Students)
  • Just 10 minutes from the center is the Monroe Regional Airport, which serves the city and northeast Louisiana