Cove Net Lease Distribution 69 DST
Luling, LA
| Asset Class: | Industrial |
| Leverage: | 0% - All-Cash/Debt-Free |
| Location(s): | Luling, LA |
| Minimum Investment: | $25,000 |
| Current Distribution: | Monthly/Inquire |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
Net Lease Distribution 69 DST is a brand new construction industrial net leased to a PepsiCo subsidiary as a product distribution and logistics center. PepsiCo generated $79 billion in net revenue in 2021 and the property has a 10-year net lease with annual rental increases and two 5-year extension options. Located in the greater New Orleans market, Luling is part of St. Charles Parish with $17 billion industrial projects currently underway with the 9th fastest gross domestic product growth in America in 2021-2022.
MSA Details
In 2021, Luling, LA had a population of 14.1k people with a median age of 37.2 and a median household income of $75,127. Between 2020 and 2021 the population of Luling, LA declined from 14,522 to 14,115, a −2.8% decrease and its median household income grew from $73,004 to $75,127, a 2.91% increase. The 5 largest ethnic groups in Luling, LA are White (Non-Hispanic) (69.2%), Black or African American (Non-Hispanic) (20.9%), Other (Hispanic) (2.55%), White (Hispanic) (2.3%), and Two+ (Non-Hispanic) (1.99%). None of the households in Luling, LA reported speaking a non-English language at home as their primary shared language. This does not consider the potential multi-lingual nature of households, but only the primary self-reported language spoken by all members of the household. 98.5% of the residents in Luling, LA are U.S. citizens. In 2021, the median property value in Luling, LA was $217,900, and the homeownership rate was 84%. Most people in Luling, LA drove alone to work, and the average commute time was 25.4 minutes. The average car ownership in Luling, LA was 2 cars per household.
Property Highlights
- Brand new construction industrial net lease asset
- Product distribution and industrial logistics center for PepsiCo
- All-Cash Debt-Free DST Offering - no risk of lender foreclosure
- 27,000 square feet
- 10-year net leased offering with annual rental increases and two 5-year extension options
- 721 Exchange Roll-Up as a potential exit strategy
Source: Brochure
The market information provided above may not predict the future performance of the property.
*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.
