Best picks of 09-10-08

AHI: Avg Household Income
NOI: Net Operating Income
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1. Neighborhood Center in Farmington Hills, MI: 10,707 SF mature shopping center on about 1 acre lot renovated in 2002. 100% Occupancy. NNN. NOI $160K/yr. $2M. 8% Cap.
   - Prime location: major thoroughfare on I-10
   - Prosperous area: AHI $126K/yr within 1 mile radius
2. Southeast Regency Retail in Pearland, TX: 19,384 SF stone/stucco good-looking strip center constructed in 2007. 95% Occupancy. NNN leases. NOI $421K/yr. $5.165M. 7.75% Cap. (Proforma)
   - Across from Shadow Creek center
   - On hwy-288
   - Affluent (AHI $111K/yr) growing (87.22% since 2000) Houston suburb
3. Strip Center in Lexington, NC: 31,200 SF strip center in 5.19 acres of land anchored by new 203,000 SF Wal-Mart and Lowe’s Home Improvement. 100% NNN leased. NOI $468K/yr. $6.039M. 7.75% Cap.
4. Pearland Corners II in Pearland, TX: 16,336 SF one year old retail center on 1.9 acres of land. 90% Occupancy. NNN leases. NOI $328K/yr (proforma). $4.027M. 7.75% Cap.
   · Anchored by Walgreen’s across the street from Wal-Mart
   · Good tenant mix
   · Wealthy Houston suburb (AHI $91K/yr)
5. Day Care Center in Raleigh, NC: 9,020 SF Kiddie Academy Day Care Center on 1.45 acres built in 2007. 15-year NNN lease with 2% annual increases. NOI $206K/yr. $2.750M. 7.5% Cap.
6. Shopping Center in Coppell, TX: 24,577 SF attractive multi-tenant shopping center on 2.54 acres of land. 93% Occupancy. NNN. NOI $429K/yr. $6M. 7.16% Cap.
   · 10 tenants to spread out the risk
   · Close to I-35, I-635 & Hwy 12
   · All tenants with excellent visibility
   
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