Whole Foods Plaza

3400 Veterans Memorial Boulevard
New Orleans (Metairie), LA 70002

Marketing Materials

Overview

JLL is pleased to exclusively offer for sale the leasehold interest in the 58,283-square-foot New Orleans Whole Foods Plaza (the Property), located on busy Veterans Memorial Boulevard in Metairie, Louisiana, an affluent northern suburb of New Orleans. The Offering includes a free standing Whole Foods Market and a freestanding, absolute triple net Jared the Galleria of Jewelry. Combined, the two tenants that comprise New Orleans Whole Foods Plaza provide a bond-like revenue stream with upside via rent escalation clauses and expense inflation protection for Owner. Both tenants are industry-leading operators with extended remaining lease terms.
  • Primary Broker

    Taylor Wolfes - Net Lease Broker
    Taylor Wolfes
    (404) 995-2275

  • Secondary Broker(s)

    Margaret Caldwell - Net Lease Broker
    Margaret Caldwell
    404.995.2270

  • Margaret Jones - Net Lease Broker
    Margaret Jones
    404.995.2272

  • In-State Licensee

    Greg Riera - Net Lease Broker
    Greg Riera
    LA

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Investment Highlights
Exceptional Tenancy Including Investment Credit Grocery Component
Strong "Amazon Effect" Provides Strength
Favorable Lease Structures with Long-Term, Growing Cash Flow
Prime Location in an Excellent Dense Market
No In-Line Space
General
Property Type Retail
Property Address 3400 Veterans Memorial Boulevard
New Orleans (Metairie), LA 70002
Market LA-New Orleans/Metairie/Kenner
Land In Acres 4.40
Building Size 58,283 Square Feet
Primary Use Supermarket
Year Built 2004
Tenancy Multi-Tenant
Financial
Price Confidential
Cap Rate Confidential
Current NOI $1,220,051
Lease
Tenant Name Whole Foods Market
Guarantor Whole Foods Market
Credit Rating (S&P) A+
Lease Type NN
Annual Rent $1,707,204
Rent Escalations 5/1/20: lessor of 10% or 8 times CPI increase Options: 10% over annul Base Rent from prior term.
Options 4 x 5 years
Lease Expiration Date 5/31/2025
Remaining Term 6.7Yrs