DeSiard Plaza

Marcus & Millichap is pleased to exclusively offer for sale DeSiard Plaza, which is located at 7904-7944 DeSiard Street, Monroe, Louisiana 71203. DeSiard Plaza is a Brookshire’s Food & Pharmacy grocery-anchored retail center, totaling 65,439 square feet of gross leasable area on 7.67 acres of land.

DeSiard Plaza offers an investor a unique opportunity to add value by leasing 20,030 square feet of vacancies. In addition, the Property includes an outparcel in the northeast corner of the site, which could be sold, leased, or developed for upside.

Brookshire’s evidences commitment to this location by having exercised its option to renew, which extended the lease term through November 30, 2025. In addition, Brookshire’s obtained a modification of its leased premises to include a pad site, which it will develop a fuel center on, demonstrating further investment into this site at the tenant’s cost.

DeSiard Plaza is offered for sale for a price of $2,500,000, which is $38.20 per square foot to the building. The total land included in the sale is 334,105 square feet, which is a price of only $7.48 per square foot, with a grocery-anchored shopping center as included improvements.

By leasing the shopping center to an occupancy of 90 percent at modest rental rates of $8 per square foot and $6 per square foot plus triple-nets, an investor would achieve a cap rate of nearly 11 percent. An investor would increase this yield further by developing, ground leasing, or selling the retail pad site.