East Town Shopping Center

Investment Highlights:

• Value-Add, 65,636-Square-Foot, Grocery-Anchored Retail Center
• Tenant Base is a Complementary Mix of National and Regional Brands | 13% of GLA Leased to Dollar Tree and Family Dollar (Dark), Both Publicly Traded (NASDAQ: DLTR)
• Anchored by Long-Term Lease with Market Basket (60+ Years) | Tenant Recently Exercised an Early Five-Year Lease Renewal, Demonstrating Continued Commitment to the Location
• 71% physically occupied and 91% economically occupied (including dark Family Dollar), with a mix of lease types and strong upside through lease‑up and conversion to triple‑net
• Landlord Reports New Roof Installed in 2015 with a 15-Year Warranty | Other Recent Property Improvements Include Partial Parking Lot Repaving and Exterior Painting Completed in 2023
• Located on 3rd Avenue, Near Signalized Intersection with U.S. 90 (Broad Street) | U.S. 90 is a Major East-West Thoroughfare with Traffic Counts Exceeding 11,229 Vehicles per Day
• Close Proximity to Local School Campuses, Providing Additional Traffic to the Area
• Well Positioned to Serve a Community of More Than 83,303 Residents Within a Five-Mile Radius | Serves a Daytime Workforce Population of 58,757
• Average Household Income of $54,313 within One Mile; $61,309 within Three Miles; $70,163 within Five Miles
• Lake Charles is the 5th Most Populous City in the State of Louisiana

Offering Summary: 

Marcus & Millichap is pleased to present the opportunity to acquire a grocery-anchored, 65,636-square-foot, multi-tenant retail center located in Lake Charles, Louisiana. East Town Shopping Center is currently 71% physically occupied while collecting rent on 91% of the gross leasable area, offering immediate in-place income with additional upside through backfilling vacancy and converting existing gross and base-year leases to triple-net structures.

Anchored by Market Basket, a tenant at the center for over 60 years, the property features a complementary mix of national and regional tenants including Simply 10, Dollar Tree, Hibbett Sports, and Family Dollar (currently dark). East Town Shopping Center is situated on 5.144 acres with ample paved parking. The landlord reports a new roof was installed in 2015 with a 15-year warranty. Additional recent improvements include partial parking lot repaving and repairs, along with exterior painting completed in 2023.