Property Name: Jefferson Business Center

Address: 520 Elmwood Park Blvd, New Orleans, LA

Total SF: 104,130 sf

Projected Average Annual Cash Flows: 9.6%

Projected IRR: 15%

Notable Tenants: Johnson Controls, Roto Rooter, BearCom Group

Investment Story:

In 2025, JRE partnered with Stoic Equity Partners of Fairhope, AL to acquire Jefferson Business Center as part of a value-add investment strategy. The transaction was capitalized with $4.6 million in equity from 40 investment partners and financed with a five-year CMBS loan.

At acquisition, tenants were paying rents roughly 30% below market, with an average lease term of only three years—creating an opportunity to bring rates to market within the planned hold period. Located in Elmwood, the largest industrial submarket in New Orleans, the property benefits from sustained rent growth driven by unique supply constraints. Limited developable land, flood plains, surrounding wetlands, and high construction costs have kept new development scarce, resulting in low vacancies and rising rental rates.

As one of the higher-quality assets in a market dominated by older industrial stock, Jefferson Business Center is well positioned for performance. Our business plan is to capture rent growth as leases roll, lease remaining vacancies, and position the property for a strategic exit once market conditions align.