Westpark Shopping Center 2 Retail Properties in New Iberia, LA

Positioned in the thriving retail corridor of New Iberia, Louisiana, the Westpark Shopping Center offers an exceptional commercial investment opportunity. With an occupancy rate of 80.71% and a 5.22 weighted average lease term (WALT), this 99,942-square-foot property provides immediate cash flow and stability. Major anchor tenants like Planet Fitness, Office Depot, and Harbor Freight Tools ensure consistent foot traffic, while a diverse tenant mix balances essential services and specialty retail.
This property offers strong income stability with several anchor tenants secured under long-term leases. Planet Fitness and Office Depot have extended lease terms, providing consistent cash flow and reducing turnover risk. These established national brands drive steady foot traffic and reinforce the property’s status as a retail destination. Additionally, the recent 2023 TPO roof replacement minimizes future capital expenditure requirements, ensuring a low-maintenance and high-yield investment profile.
Strategically located on East Admiral Doyle Drive, the center benefits from over 22,000 vehicles per day and proximity to major retail drivers like Walmart Supercenter and Rouses Market. It’s easy access via Highway 90 ensures high visibility and convenience, attracting steady consumer traffic. With a solid tenant base, growth opportunities, and a prime location in an expanding market, Westpark Shopping Center is an ideal acquisition for investors seeking stable cash flow with long-term upside potential.
New Iberia Economic Development:
• First Solar is investing $1.1 billion in a new manufacturing facility in New Iberia, LA—the largest in the parish’s history—bringing over 700 high-paying jobs and driving strong demand for housing and commercial real estate. This presents a prime opportunity for investors to capitalize on the area's rapid economic and population growth.
• The $26 million Acadiana Crime Lab breaking ground in New Iberia is a major regional investment that will enhance law enforcement capabilities across eight parishes and is expected to spur local economic and real estate growth. Its central location and anticipated completion in 2025 present a timely opportunity for investors to capitalize on increased demand for nearby commercial and residential properties.