Property Listing No Longer Available for Sale

149 W. 18th St., Lake Charles, LA

Office for Sale - 10,668 Sq. Ft. on 49299.44 acres


Property Info

CIMLS#742478
Location
  149 W. 18th St.
  Lake Charles LA 70601
UpdatedDecember 9th, 2015
TypeOffice
PriceUpon Request
Building10,668 Sq. Ft.
Land49299.44 acres

Property Description

This Class B office building is comprised of 10,668 SF situated on 1.3 acres. It is a preengineered steel building constructed in 1981 and completely renovated in 2014. The Social Security Administration occupies approximately 9,000 SF of the 11,000 SF. The balance of the space is leased to a non GSA tenant with provisions to recapture the space in the event that the SSA wants to expand.

The Lease is a 15 year term with a 10 year Firm Term provision. There is a burn off of TI rent that is minimized by the bump in the shell rent in year 6. Located in the heart of Lake Charles, the building is in the center of the retail district.

Location Description:

The property is located near a lot of shopping and dining amenities in the middle of Lake Charles.

Highlights:

>> Newly renovated Social Security Administration Building

>> New 15 year lease with GSA

>> 10 years of firm term

>> Tenant has invested over $325,000 in Tenant Improvements not amortized.

>> Close to major retail and amenities

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Financials