In the two+ decades we have worked in the Lake Charles real estate market, we have not seen the market this poised for explosive growth, and the evidence keeps coming in.
There are new project announcements, ground breaking events and the phone is ringing on deals we’ve had listed for a while but were dormant.
The reasons for our growth begin with the remarkable recovery our community has made from the storms associated with Hurricane Laura four-five years ago. To recap our region’s advantages:
By way of examples, we just had a $17 billion LNG facility announced by Woodside Energy – dba as Louisiana LNG Co. It’s an Australian-based energy conglomerate. From a real estate transaction perspective, the service companies I mentioned are willing and prefer to do long- term 10-years leases.
Further, we have a listing, an RV park in Hackberry. It’s a small town with limited services. The RV Park was built at the end of the first phase of the LNG energy boom and they lost it to the bank. It’s been vacant for about 5 years and today is ripe for investment to provide housing for the 6,000 transient workers that will be coming to our area in the next five years. The listing has been quiet, up until now; we are getting some activity on it.
Given the broad economic uncertainty and especially in gateway cities and other primary markets and asset classes, investors are seeking alternatives to growth markets that are connected to enduring economic fundamentals, and energy-associated real estate is one of them.
Redd Properties LLC is an independent commercial real estate, multidisciplinary firm with expertise in mid-to-large,-scale projects and other developments, build-to-suit construction, project advisory and consulting services, brokerage and transaction management services.
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