Home Depot
Top Performer | Irreplaceable Location
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a corporate Home Depot ground lease located at 2625 Veterans Boulevard in Kenner, Louisiana (the “Property”), a suburb of New Orleans. The Property is improved by a free standing 174,522 square foot building on a 12.94-acre parcel. The Home Depot has been at this location since it was constructed and has over 6 years of term remaining with ten (10), 5-year renewal options. The Home Depot lease provides for attractive 5% rent increases at the start of each option period.
The Property occupies a strong location at the intersection of Roosevelt Boulevard and Veterans Boulevard, a major commercial and commuter corridor in the market. Home Depot is situated adjacent to Walmart Supercenter and is surrounded by a concentration of national retailers and restaurants that generate significant consumer traffic. The site offers convenient access to Interstate 10, Interstate 310, and U.S. Route 61, providing efficient connectivity to Downtown New Orleans and the broader southern Louisiana region. The Property is three miles from Louis Armstrong New Orleans International Airport and 10 miles west of New Orleans’ Central Business District, further enhancing its accessibility and regional draw.
Investment highlights
LONG TERM TENANT: The Home Depot has been at this location since 2013 and has 6+ years remaining on their Absolute NNN ground lease with ten (10), 5-year renewal options.
ATTRACTIVE RENT INCREASES: The Home Depot lease calls for attractive 5% rent increases at the start of each renewal option, providing the investor with an attractive increase in revenue and hedge against inflation.
IRREPLACABLE RETAIL LOCATION: The Property is strategically located at the signalized intersection of Roosevelt Boulevard and Veterans Boulevard, the area’s primary commercial and commuter corridor. The Home Depot is adjacent to a Walmart Supercenter and is surrounded by national and local retailers, several automotive dealerships, and countless nationally branded hotels that drive traffic to the area. The Property is seconds from Interstate 10 and 3 miles from Louis Armstrong New Orleans International Airport. Additionally, The Home Depot is surrounded by densely populated residential neighborhoods providing a built-in and captive customer base.
INVESTMENT GRADE CREDIT: The lease features a corporate guaranty by Home Depot USA Inc. The Home Depot is the world's largest home improvement retailer with approximately 475,000 orange-blooded associates and more than 2,300 stores in the U.S., Canada and Mexico. The Home Depot reported sales for fiscal 2025 of $164.7 billion, an increase of $5.2 billion, or 3.2% from fiscal 2024.
ZERO MANAGEMENT RESPONSIBILITIES: The Home Depot has an Absolute NNN Ground Lease and is responsible for real estate taxes, insurance, common area maintenance and capital expenses making it an attractive investment for the passive real estate investor.
TRADE AREA: Additional retailers and attractions drawing consumers to the immediate trade area include Walmart Supercenter, Aldi, Best Buy, TJ Maxx, Home Goods, PetSmart, Office Depot, Marshalls, Michaels, Academy Sports, Walgreens, Pep Boys, Starbucks, Chipotle, Chick-fil-A, McDonald’s, Burger King, Pollo Campero, Wendy’s, Popeyes, Taco Bell, Sonic, Waffle House, McAlister’s Deli, Subway, Little Caesars, 7 Brew, and Smoothie King.
HIGH TRAFFIC COUNTS: On average more than 31,700 vehicles pass the Property along Veterans Boulevard each day. An additional 120,400 vehicles per day pass near the Property along Interstate 10.
STRONG DEMOGRAPHICS: Approximately 122,500 people live within 3-miles of the Property with an average household income of $100,613. More than 210,700 people live within 5-miles of the Property with an average household income of $100,792. Additionally, there are more than 195,700 employees within 5-miles of the Property.
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