Camin Cargo Control 2137 S Philippe Ave 12,860 SF 100% Leased Industrial Building Gonzales, LA 70737 $1,275,000 ($99.14/SF) 7.82% Cap Rate

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2137 South Philippe Avenue in Gonzales, Louisiana, leased to Camin Cargo Control, Inc. The subject property consists of approximately 12,860 square feet of warehouse space and is situated on 1.04 acres of land. The single-tenant asset features a clear height of 12’, three grade-level doors, metal construction, a gated industrial outdoor storage (IOS) space, and 21 parking spaces. With a building coverage ratio of 28 percent, the property can easily be expanded. Positioned between Interstate 10 and U.S. Route 61, the property is 25 miles from Baton Rouge and 58 miles from New Orleans. The tenant has occupied the property since 2015 and is signed through October 2027 at $7.75 per square foot with five one-year renewal options and 5.0 percent renewal escalations. In business for over 40 years, Camin Cargo Control is a leading provider of inspection, laboratory testing, and treatment services to over 50 key ports in the oil and gas industry.
The subject property is located within the relatively small Ascension submarket, containing 6.8 million square feet of industrial space. In the 12 months through Q3 2025, net absorption dipped further into negative territory at over -39,000 square feet as about 11,000 square feet were added to the local inventory. Despite demand contracting, the vacancy rate rose by only 70 basis points year-over-year to 2.0 percent. This compares to a 7.7 percent national vacancy rate in the industrial market (based on top 50 metros, classes A, B, & C, and minimum 10,000 square feet). Despite local vacancies remaining near record lows, annual rent growth has decelerated from 6.8 percent in Q3 2024 to 3.0 percent in Q3 2025. The average market rent plateaued in Q3 at about $12.30 per square foot. With nearly 681,000 square feet of industrial space under construction in Ascension, the pipeline is at a record high, representing a 10.0 percent expansion to the inventory (CoStar).
Baton Rouge, Louisiana, has a city population of about 226,000 and a metro population of 869,000. As the state capital, it is home to Louisiana State University, which enrolls over 39,000 students and employs more than 5,000. The metro’s economy is anchored by the petrochemical industry, led by Exxon Mobil’s massive refinery, and supported by companies like Dow Chemical and Formosa Plastics. The Mississippi River and the Port of Greater Baton Rouge drive major logistics and port activity. Baton Rouge maintains a diverse workforce in manufacturing, distribution, healthcare, and media, with a median household income of $56,100.