10 Oct Lafayette Industrial Leased 4 Months After Purchase

Mark Johns of ELIFIN® represented both the landlord and the tenant in the successful lease of the ±16,068 SF industrial property located at 338 Thoroughbred Dr in Lafayette, LA.

Challenge

The landlord had purchased the building vacant with a clear plan: get it leased quickly and at numbers that justified the purchase price. That created a specific kind of pressure. The acquisition price had been built around leasing projections Mark had put together himself, which meant the deal only worked if those projections held up in the real market. Mark had promised the landlord he could get the building leased quickly, and that promise was the standard he had to meet.

Strategy

Mark went to work on the leasing side as soon as the purchase closed, drawing on the same market knowledge that had shaped the purchase price projections in the first place. Having represented the landlord through the acquisition gave Mark an unusually complete picture of what the lease needed to look like, and he used that context to target the right tenant and structure terms that worked for both parties.

Result

Mark secured a tenant four months after the landlord closed on the purchase. The landlord bought a vacant building and had a signed lease in place within four months, validating the investment thesis early in the hold. Mark delivered on both sides of the same strategy, first as the buyer’s broker on the acquisition and then as the broker who brought landlord and tenant together on terms that made the numbers work, just as he had promised.

Leading Agent

Mark Johns