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New Rapides Regional Physician Group Clinic opened July 10, 2014. Seven year lease with NNN terms guaranteed to Buyer. Major hospital tenant with parent company guarantee. Cap rate of 7.4% reflects 2% annual rent increases. Located in fastest growing area of central Louisiana between Super Wal-Mart and Walker Mercedes/BMW. - Parking description: Parking located on both sides of building - Area description: The Coliseum Blvd corridor is the future growth area of Alexandria. Since Wal-Mart opened about eight years ago it has sustained continued growth. Most future residential developments are located in this area and commercial development will continue for many years to come. - Number of buildings: 1 - Class of space: Class A - Tenancy: Single Tenant
Most listings are in the $10's per square foot per year. The Alexandria submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 7% decrease in rent.
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