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Herc Rentals 129 Banks Ave 22,000 SF Industrial Building Lafayette, LA 70506 $2,800,000 ($127.27/SF) 7.29% Cap Rate
INVESTMENT HIGHLIGHTS
- •Corporate Lease with Herc Rentals, Inc | NYSE: HRI - 3rd Largest Equipment Rental Company in the U.S.
- •Former Business Acquired by Herc October 2024 - Nearly 30 Years of Successful Operating History
- •Newer Construction | 2015 Build to Suit - Layout Optimizes Functionality of the Warehouse/Yard
- •5-Year NN Lease with Minimal LL Responsibilities - 4+ Years of Term Remaining with Two 5-Year Options
- •Favorable 3.5% Rental Increases Every Two Years - Upcoming Bumps in November 2026 and 2028
- •Newer Construction | 2015 Build to Suit - Layout Optimizes Functionality of the Warehouse/Yard
EXECUTIVE SUMMARY
The property is secured by a corporate lease with Herc Rentals, Inc., which is publicly traded on the New York Stock Exchange under the ticker symbol HRI. Herc Rentals is the third-largest equipment rental company in the United States. The lease is a five-year NN structure with minimal landlord responsibilities. There are more than four years remaining on the current term, along with two additional five-year renewal options. The tenant acquired the former business in October 2024, which had nearly 30 years of successful operating history prior to the acquisition. The lease includes favorable rental increases of 3.5% every two years, with the next scheduled adjustments in November 2026 and November 2028. Constructed in 2015 as a build-to-suit, the property features a layout designed to optimize the functionality of the warehouse and yard. Herc Rentals recently completed a $5.3 billion merger, acquiring H&E Equipment Services in June 2025, further strengthening its market position. The site offers quick access to Interstate 10 and U.S. Highway 90, both less than a 10-minute drive from the property. The surrounding area boasts strong demographics with consistent year-over-year growth, including more than 252,000 residents within a 10-mile radius.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $2,800,000 | Lot Size | 2.38 AC |
| Price Per SF | $127.27 | Rentable Building Area | 22,000 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 7.29% | Year Built | 2015 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Manufacturing | No. Drive In / Grade-Level Doors | 3 |
| Building Class | C | ||
| Zoning | Industrial Light | ||
| Price | $2,800,000 |
| Price Per SF | $127.27 |
| Sale Type | Investment |
| Cap Rate | 7.29% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 2.38 AC |
| Rentable Building Area | 22,000 SF |
| No. Stories | 1 |
| Year Built | 2015 |
| Tenancy | Single |
| No. Drive In / Grade-Level Doors | 3 |
| Zoning | Industrial Light |
AMENITIES
- Fenced Lot
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PROPERTY TAXES
| Parcel Number | 6157274 | Improvements Assessment | $137,022 |
| Land Assessment | $36,340 | Total Assessment | $173,362 |
PROPERTY TAXES
Parcel Number
6157274
Land Assessment
$36,340
Improvements Assessment
$137,022
Total Assessment
$173,362
CONTACTS
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Rory Shelby -
Scott Gould -
Spencer Koch -
Christopher Biuso -
Caitlin Lancaster -
Marcus & Millichap
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Herc Rentals | 129 Banks Ave
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