130 Equity Boulevard

Description

This two-building industrial investment located within Sugar Pointe Industrial Park in Houma, Louisiana. The offering consists of approximately 28,091 square feet of gross building area situated on approximately 2.2 acres. The properties support the established Houma-area operations of Expro, a publicly traded global energy-services company (NYSE: XPRO), and are leased to Frank’s International, LLC, an Expro company. Expro and its predecessor operations have maintained a presence at this location since 2008, providing approximately 18 years of operating history at the property. The tenant initially occupied 130 Equity Boulevard before subsequently expanding its operations into neighboring 124 Equity Boulevard. Throughout its tenure, the operation has completed multiple lease renewals and invested in specialized infrastructure supporting its equipment service, storage and offshore-support activities. Tenant-installed improvements include two 10-ton overhead cranes, two ½-ton jib cranes, compressed-air equipment and other specialized operational infrastructure. Importantly, 100% of the enclosed shop/warehouse areas in both buildings are HVAC-conditioned, providing a highly functional climate-controlled environment for equipment servicing, storage and industrial operations. The most recent lease amendment extends the lease term through April 30, 2030, with contractual base rent increasing approximately 3% annually through expiration. Ownership is responsible for property insurance. The lease places substantial property-level operating obligations on the tenant, including real estate taxes, maintenance and repairs, and liability and fire insurance, providing ownership with limited ongoing landlord expense exposure. The offering includes two complementary industrial facilities totaling approximately 28,091 SF GBA, with 100% HVAC-conditioned enclosed shop/warehouse space.