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Views: 117 DOM: 268 Updated: 10.18.24 Posted: 02.27.24 Status: Active

Summary

Price $8,500,000
Built/Renov 2011
Tenant Hyatt Regency Convention Center
Cap Rate 5.41%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 23,700
Lease Start 11-01-2011
#Units 1,335
Price/SF $358.65
Expiration 10-31-2061
Tenant Type Other
NOI $459,658
R. Term 36.11
Ownership Fee Simple
Rent/SF $19.39
Increases 20.0%/2/yrs
Pop 5Mi 361,739
Lot/AC 0.72
Options 0/0yrs
AHHI 5Mi $86,239

Lease Highlights

  • Hyatt Regency Convention Center has 37+ years remaining on the current lease term
  • The lease features a 20% rental escalation in 2026, with 9.75% increases every 5 years after
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: H) 
  • Investment grade tenant (S&P: BBB-)

Location Description

Hyatt Regency Convention Center is strategically located at the signalized, hard corner intersection of Loyola Avenue and Girod Street, with access to a combined daily traffic count of 13,946 vehicles. Positioned within the bustling Central Business District, the hotel enjoys close proximity to the Mercedes Benz Superdome, home turf for the New Orleans Saints, and the Smoothie King Center....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Hyatt Regency
  • Guarantor:Corp T and Rated
  • Company:Hyatt Hotels Corporation
  • # Units:1,335
  • Tenant S&P: BBB-
  • Moody’s: Baa3
  • Stock: NYSE: H

About Tenant

Hyatt Hotels Corporation (NYSE: H), commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company that manages and franchises luxury and business hotels, resorts,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 19,470 180,909 365,270
2023 Total Population : 19,306 182,558 368,311
2023 Employed Civilian Pop : 8,827 89,423 177,662
2023 Total Businesses : 5,779 14,772 22,741
2023 Average Household Income : $ 84,171 $ 88,828 $ 87,499
2023 Total Consumer Spending : $ 790 M $ 6734 M $ 12552 M
2023 Median Age : 38 37 38
2023 Total Households : 10,767 86,785 164,464
2023 Pop Age 25+: Bachelor's Degree : 3,839 33,428 60,359
2023 Average Home Value : $ 533,574 $ 470,465 $ 403,830
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Loyola Ave Lafayette St 2009 23,579 0.04 mi
Poydras St Loyola Ave 2008 31,084 0.10 mi
Loyola Avenue Loyola Ave 2022 8,894 0.14 mi
Poydras St Lasalle St 2008 30,306 0.20 mi
Baronne St Girod St 2007 9,709 0.22 mi
Loyola Ave Gravier St 2018 1,793 0.25 mi
Howard Ave Oretha C Haley Blvd 2007 12,253 0.26 mi
Poydras St Carroll St 2007 47,494 0.27 mi
Loyola Ave Pontchartrain Expy 2009 23,579 0.29 mi
Howard Ave St Joseph St 2007 12,136 0.31 mi

Listing Broker

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