Ambrose announces $57.6M disposition of 554,000-SF logistics facility near Lafayette, Louisiana
Built-to-suit warehouse is fully occupied by First Solar, a global solar technology and manufacturing firm
INDIANAPOLIS – Ambrose, a vertically integrated real estate investment manager that specializes in acquiring, developing and operating modern industrial, logistics and e-commerce real estate, today announced the sale of a 554,024-square-foot, modern warehouse located at 2211 Grand Prairie Boulevard, in New Iberia, Louisiana, part of the Greater Lafayette metro area. The facility is fully occupied by First Solar, a U.S.-based photovoltaic solar technology and manufacturing company. The buyer is global real estate private equity firm LCN Capital Partners.
Ambrose completed construction of the property in 2025, working closely with First Solar throughout the full design, construction and financing of the build-to-suit (BTS) project. The state-of-the-art facility includes 40-foot clear heights, 41 docks, 83 auto parking spots, 36 trailer parking spots and truck courts with 150-foot depths. First Solar is using the facility as a hub to store machinery and raw materials to support an adjacent solar panel manufacturing facility. In October 2025, Ambrose completed the disposition of a separate, 554,000-square-foot property also fully leased to First Solar located in Trinity, Alabama.
“In alignment with our previous build-to-suit development success with First Solar, we designed and built this property to modern, tech-forward industrial specifications to ensure that it is capable of effectively facilitating the firm’s growing advanced manufacturing operations,” said Grant Goldman, Chief Operating Officer, Ambrose. “The high level of institutional interest throughout the disposition process is reflective of the quality build of the asset, the appeal of an in-place national credit tenant and Ambrose’s track record of developing modern industrial facilities that meet the sophisticated operational needs of 21st-century occupiers and are positioned to deliver compelling investment returns upon exit.”
First Solar, founded in 1999, is America’s leading photovoltaic solar technology and manufacturing company and the only U.S.-headquartered company among the world’s largest solar manufacturers. First Solar is focused on competitively and reliably enabling power generation needs with its advanced, uniquely American thin film PV technology. The firm has five operational factories in Ohio, Alabama, and Louisiana. First Solar expects to have a global annual manufacturing capacity of approximately 25 Gigawatts by 2026, with a manufacturing footprint that spans the U.S., India, Malaysia, and Vietnam.
The Lafayette market continues to reflect positive fundmentals with an industrial vacancy rate of 3.97%, well below the national average of 7.5%, according to Lee & Associates’ Q1 2026 Lafayette market report. Limited new construction and strong competition from occupiers supports long-term rent growth and high occupancy levels.
Ambrose was represented in the transaction by the JLL Capital Markets team that included John Huguenard and Will McCormack.