Louisiana Commercial Realty announced today they were hired to market the 69,000 square foot tract of land at 5550 Crowder Boulevard for GTE Financial. Robert Hand, president of Louisiana Commercial Realty said, ” This tract of land is a great opportunity to bring retail businesses to an underserved market. Our research shows within a 5 minute drive time there is a population of 24,000 with an average household income of $48,000, and there is a real need for businesses to come into the area and provides goods and services to these residents. There are three main businesses that are needed: Motor Vehicle, General Merchandise and Restaurants. Our research shows these businesses could have annual sales exceeding $20 million dollars.”
The area is replete with new developments, including:
- New Walgreens at Crowder & Lake Forest Boulevard.
- New Dorsey Retail Center on Crowder with tenants Pizza Hut & Planet Fitness.
- New 500,000 Wal-Mart on Bullard.
- Methodist Hospital on Lake Forest & Read Road in operation.
- New Dollar General on Crowder.
Hand says, “With a resurgence of new businesses flooding the area, the quality of life for residents goes up which encourages more residents to move into the area. The Crowder area has the most affordable housing for people looking to build their life. Luxurious homes near the country club are priced around $250,000 and two-bedroom apartments are priced around $850 per month. It’s a great place to get started.”
Within a 5 minute drive time, the population, according to the 2010 Census, was 20,733 and is forecasted to grow to 29,217 by 2019. This growth rate exceeds 3.5% annually, which is 4 times higher than the average US population growth rate.
Hand says more information is available on the available property at LoopNet.com.