8,871 Square Foot Retail Space For Lease @ 2121 Airline Drive - A

Offers due August 5th, 2015 at 5:00PM CST. Contact agent for an Offering Memorandum.

Being offered for sale is 2121 Airline Drive, Metairie, Louisiana, a Class B+ office property consisting of approximately 123,232 square feet on 4.7 acres of land. The building is currently occupied by Cox Communications Louisiana, LLC, who will initially lease from the buyer 48,132 rentable square feet at a market rate of $19 per square foot (Full service gross lease). The leaseback space will consist of the first three floors of the building. All of the lease- back space, except for the 4,260 square foot retail area, will be leased back for a five (5) year term. The lease term for the retail area shall be for two (2) years.

Metairie’s office market is extremely stable and features the highest rental rates in the Greater New Orleans area. The property has first class finishes, and the site is large enough to accomodate construction of another building in the future.