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1351 Holiday Square Blvd
Covington, LA 70433
Office Property For Sale
Investment Highlights
- Owner Occupant Opportunity to Purchase the Building & Occupy the Third Floor
- Tenant Occupies 100% of the 66,000 SF Building as Corporate Headquarters
- Tenant Responsible for Taxes, Insurance, Utilities, Maintenance, and all Operating Costs
- Single-Tenant Lease with Globalstar, Inc., a Publicly Traded Satellite Communications Company
- 10-Year Initial Lease Term: February 1, 2019 – January 31, 2029
- Globalstar Willing to Extend Beyond its Current Lease Term for the Majority of its Current Occupied Footprint
Executive Summary
Opportunity to acquire the Globalstar (NASDAQ: GSAT) Headquarters in Covington, Louisiana. This Class A, three-story office building, constructed in 2018, is situated on 4.35 acres. The tenant currently occupies the first and second floors, with a lease in place for the entire building. The third floor remains in shell condition, providing an excellent opportunity for custom build-out and future expansion for an owner-occupant.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
66,180 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2018
Price
$21,500,000
Price Per SF
$324.87
Cap Rate
6.66%
NOI
$1,432,000
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
22,060 SF
Building FAR
0.35
Lot Size
4.35 AC
Zoning
PUD - PUD - Versailles Office Park is a Planned Unit Development with restricted uses for individual lots.
Parking
253 Spaces (3.83 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
- Fitness Center
- Car Charging Station
- Natural Light
- Open-Plan
- Plug & Play
- Outdoor Seating
- Air Conditioning
Property Taxes
| Parcel Number | 34475 | Improvements Assessment | $1,354,605 |
| Land Assessment | $0 | Total Assessment | $1,354,605 |
Property Taxes
Parcel Number
34475
Land Assessment
$0
Improvements Assessment
$1,354,605
Total Assessment
$1,354,605
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