Regional State Government Hub - State of Louisiana AA+ Credit | 9% Cap Rate | $9.6 Million

Investment Overview

Bull Realty is pleased to present 1000 Plantation Road in Thibodaux, Louisiana. The building is 100% leased to three state agencies, backed by the strong AA credit of the State of Louisiana. Following a renovation of more than $2.5 million and new and renewed leases last year, the property provides investors stable government income in a building that has been substantially rebuilt. ANCHORED BY ESSENTIAL STATE SERVICES The Louisiana Department of Children and Family Services (DCFS), Office of Economic Stability – Division of Family Support, moved into 31,433 SF just last year. Occupying roughly 92% of the building, DCFS runs core public assistance programs from this location. The facility serves an ongoing community need rather than discretionary demand. The balance of the property, approximately 8%, is leased to two divisions of the Louisiana Department of Health. The Bureau of Health Services Financing in 2,088 SF, and the Office of Aging and Adult Services in 757 SF.

Investment Highlights

• 13 new HVAC systems
• New windows, plumbing, and electrical wiring
• New interior walls, suspended ceilings, flooring, and office doors
• Interior and exterior painting, landscaping, and fencing
• New roof (2022)