Marcus & Millichap confirmed the sale of a 35,840-square-foot industrial property in Broussard, Louisiana, leased to Drilling Tools International. The transaction, announced on July 23, 2026, transferred the facility on a 10-acre site to a real estate investment trust (REIT) for more than $130 per square foot.
The industrial facility, located at 1149 Smede Highway, is situated in the industrial corridor near the Port of Iberia, providing access to U.S. 90 and the future I-49. The sale highlights ongoing interest in Gulf Coast energy-service industrial assets, a key area for institutional investors.
Marcus & Millichap brokers Alvin Mansour and Jon Talia, alongside Steve Greer and Mason Lewis, represented the private Arkansas-based owner in the sale. The buyer, whose identity remains undisclosed, is a REIT with interest in such single-tenant, net-leased properties.
Drilling Tools International, a publicly traded company, is the sole tenant of the Broussard facility. This transaction underscores the significance of properties like these in influencing underwriting and cap-rate expectations in the market.
The sale not only provides a recent comparable for evaluating industrial and outdoor-storage assets in the region but also signals ongoing investor appetite amidst Gulf-of-Mexico logistics and supply-chain dynamics. Further developments could reveal the buyer’s strategic intentions and impact on the local market.
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