Park Terrace Center

Land Description

Investment Highlights

Dollar General anchored 63,185 SF center with solid cash flow and value-add

Shadow anchored by Walmart and co-tenants at adjacent center including Save a Lot, Ollie's, Burkes, Subway, Goodwill

Hard corner intersection with traffic counts of ±30K Vpd

Retail corridor serving as the primary shopping destination for a 30 mile radius

Major tenants have been at this center for 20+ years on average and have renewed multiple times

Offering Details

CBRE and are proud to offer Park Terrace Shopping Center, a three (3) tenant retail shopping center anchored by Dollar General located at 1005 N Pine Street in DeRidder, Louisiana. This three-tenant retail shopping center anchored by Dollar General presents significant upside via vacancy absorption, mark-to-market rates upon expiration and/or redevelopment/repositioning of the asset to reflect trends in the immediate area.

The Property consists of a single-story building totaling ±63,185 SF and positioned on ±6.49 acres. The Property offers abundant surface spaces, visibility from N Pine Street (aka Us-171), monument signage and multiple points of ingress. The Property is integrated within the larger Park Terrace Shopping Center site with co-tenants that drive traffic to the Property including Burkes, Save A Lot, Hibbett, Ollie's, First National Bank of Deridder, Deridder Urgent Care, and Stage (not included in offering). The Property is ±45.25% occupied by Dollar General (±20% Gla) and Affordable Furniture (±25% Gla) with staggered expirations, expense reimbursements and below market rents. The Property is a staple local shopping center with a long-standing tenant base, great exposure and irreplaceable visibility from nearly ±30k VPD traveling along this stretch of Us-171. The Property offers a 35k SF vacancy (±54.75% of Gla) which is one of the only mid box vacancies in the market. This vacancy was previously occupied by former Burkes which recently relocated two doors down to a smaller footprint and offers investors a great opportunity to easily backfill with any regional national retailer. Additionally, the Property has a kiosk for Davis Ice House operating on-site which recently renewed through March 2024. The Property is zoned B5 Highway Commercial District and allows for favorable flexible uses allowing for substantial upside via adaptive re-use or future repositioning.

Centrally located in located in the main retail corridor within Deridder, LA in Beauregard Parish. DeRidder is located 30 miles north of Fort Polk, which accounts for more than 14,000 state jobs, million in payroll, and in annual economic impact in the area. The area is about an hour west of Natchitoches; 90-min to Baton Rouge; 2-hrs from Shreveport, LA and Natchez, MS; and 3-hrs to New Orleans. The Property benefits from direct frontage on Us-171 which traverses the area, connects Shreveport to Lake Charles, LA and take residents from one part of town to another with relative ease. Park Terrace Shopping Center is ideally situated near a hard corner at the intersection of Park Rd and N Pine Street with high traffic counts of nearly ±30k Vpd. The center benefits from its strategic location next to a Walmart Supercenter that services the region and the area is considered the primary shopping and necessity destination for the expanded 30-mile trade area. The Property's location in the center of DeRidder's commercial district ensures continued consumer demand and future retailer interest as evidenced by the long-term tenancy.