5700 Johnston St
Lafayette, LA 70503
Acadiana Square · Retail Property For Sale

SRS Investment Properties Group, as exclusive broker, is pleased to offer for sale, Acadiana Square, an established community center located in Lafayette, LA featuring T.J.Maxx, PetSmart, Stein Mart, Dollar Tree, Office Depot, Shoe Carnival, and Party City and shadow-anchored by Hobby Lobby, Michaels, Mardel, and Ollie’s. Acadiana Square is home to a synergistic blend of national credit anchors, which account for 87.4% of the Property’s occupied space. The center also boasts a notable concentration of retailers which cater to value-minded consumers and their families. With established consumer bases and a long history of success at the location, the anchors at Acadiana Square boast an average of over 25 years of operating tenure at Acadiana Square. Seven of the eight anchors have been at the Property for over 15 years, including Party City; which expanded its footprint by almost 10,000 SF in 2016, signing a new 10-year lease. The tenants’ ongoing commitment to the Property dating back to the early 1990’s is a notable testament to their success at the location and the obvious strength and viability of the Lafayette retail market. Acadiana Square provides investors with an opportunity to create additional value to the Property via the lease-up of 12,800 ± SF, including a 10,000 SF junior box vacated when Party City expanded within the Center. Situated between the Property and the un-owned Michaels, the 10,000 ± SF availability benefits from cross consumer access between Acadiana Square and one of the top Hobby Lobby stores in the nation. Additionally, buyers have a future option to ground lease or ‘spin off’ the included Kirkland’s outparcel. National outparcel draws at the Property count a number of major retail tenants and restaurants such as Guitar Center, the Vitamin Shoppe, Applebee’s, Texas Roadhouse, Dairy Queen, Shell/Circle K and Kirkland’s (included in the offering). Prominently situated with a valuable position fronting Johnston St (US-167), the Kirkland’s outparcel provides buyers with a creative repositioning opportunity with the future potential to ground lease or ‘spin off’ the outparcel. Location Located along the Vermilion River in Lafayette Parish, the City of Lafayette serves as the economic and retail center of the Acadiana region. Positioned roughly 130 miles west of New Orleans and 200 miles east of Houston, Lafayette is the fourth-largest city in the state. Nicknamed the “Hub City”, Lafayette boasts a strategic location at the crossroads of Interstate 10 and Interstate 49, enabling its establishment as the regional leader in manufacturing, retail, medical services, technology, education, and entrepreneurial activity. One of the fastest-growing cities in the southeast over the last several years, Lafayette continues to experience massive in-migration, boasting a low cost of living, strong job market, and college town appeal. The area surrounding Acadiana Square is marked by 131,397 people within a 5-mile radius and a projected annual growth rate of 1.95% within one mile. With an average household income of $84,136, the community is also home to an abundance of disposable income – an obvious benefit to the tenants at Acadiana Square. Acadiana Square is strategically situated at the intersection of Johnston St (US-167) and Ambassador Caffery Pkwy. US-167 provides direct access to Downtown Lafayette and the University of Louisiana at Lafayette, while Ambassador Caffery Pkwy serves as the region’s preeminent retail corridor. Accessing a phenomenal combined traffic count of 73,349 VPD, Acadiana Square benefits from notable synergies created by true regional consumer draws, including Walmart, Sam’s Club, Acadiana Mall across the street, which is home to Best Buy, Barnes & Noble, Dillard’s, Macy’s, Forever 21, and JCPenney, as well as strong draws adjacent to the Property, including Hobby Lobby, Conn’s, Burlington, Ollie’s Bargain Outlet, Mardel, Michael’s, Dirt Cheap and Boot Barn, further bolstering the intersection’s nucleus of major retail draws.