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Home Depot 2625 Veterans Memorial Blvd 174,552 SF Retail Building Kenner, LA 70062 $79,261,584 CAD ($454.09 CAD/SF) 6% Cap Rate

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Investment Highlights

Long Term Tenant
Irreplaceable Retail Location
Zero Management Responsibilities

Attractive Rent Increases
Investment Grade Credit
High Traffic Counts

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a corporate Home Depot ground lease located at 2625 Veterans Boulevard in Kenner, Louisiana (the “Property”), a suburb of New Orleans. The Property is improved by a free standing 174,522 square foot building on a 12.94-acre parcel. The Home Depot has been at this location since it was constructed and has over 6 years of term remaining with ten (10), 5-year renewal options. The Home Depot lease provides for attractive 5% rent increases at the start of each option period. The Property occupies a strong location at the intersection of Roosevelt Boulevard and Veterans Boulevard, a major commercial and commuter corridor in the market. Home Depot is situated adjacent to Walmart Supercenter and is surrounded by a concentration of national retailers and restaurants that generate significant consumer traffic. The site offers convenient access to Interstate 10, Interstate 310, and U.S. Route 61, providing efficient connectivity to Downtown New Orleans and the broader southern Louisiana region. The Property is three miles from Louis Armstrong New Orleans International Airport and 10 miles west of New Orleans’ Central Business District, further enhancing its accessibility and regional draw.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

174,552 SF

Building Class

Year Built

2012

Price

$79,261,584 CAD

Price Per SF

$454.09 CAD

Cap Rate

NOI

$4,755,695 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.31

Lot Size

12.94 AC

Zoning

CR - Commercial Retail

Frontage

512’ on Veterans Blvd

Dedicated Turn Lane

Signalized Intersection

Major Tenants

Retailer
-
$33.25 CAD
Triple Net
May 2032

The Home Depot was founded in 1978 in Atlanta, Georgia, with the goal of creating a one-stop destination for home improvement needs. Over the years, the company has grown into a leading retailer of building materials, tools, appliances, and related services for both professional contractors and do-it-yourself customers. Headquartered in Atlanta, The Home Depot operates across the United States, Canada, and Mexico, offering a wide range of products for home construction, maintenance, and renovation. The company is publicly traded on the New York Stock Exchange under the ticker symbol HD. Its business model combines large-format retail stores with an expanding e-commerce platform to meet customer demand for convenience and product variety. The Home Depot has also introduced services such as tool rental and installation to complement its core retail offerings.