Top 7 Properties Among 350+ Feb 10, 2009

1. LA Fitness Center in Hemet, CA: 50,000 SF brand new state-of-the-art Fitness center on 4.71 acres lot in a prime commercial corridor. Surrounded by Home Depot, Target, Longs Drug, Vons, Ross, Marshall in a growing city. 15 yrs NNN lease with corp guaranty by LA Fitness International. NOI $750K/yr with 10% rent bump every 5 yrs. 10M. 7.5% cap. Buyer to assume $7.07M non-recourse loan at 5.84% interest due in 10 yrs.
2. Walgreens in Rockwall, TX: 14,820 SF brand new drugstore on 2 acres parcel in a high growth (66% since 2000), high income (AHI $86K/yr) Dallas suburb. 25 yrs absolute NNN lease. NOI $360K/yr. $4.965M. 7.25% cap.
3. Winn Dixie Supermarket in Columbus, GA: 43,079 SF supermarket on 4 acres lot in a stable city. 100% NN leased till 2017 and guaranteed by a Fortune 500 company. NOI $342K/yr. $3.8M. 9% cap.
4. Single-tenant medical building in Ogden, UT: 10,812 SF medical office building across the street from Newgate Mall, and Costco in Salt Lake City metro. 100% NNN leased by Intermountain Health Care. NOI $150K/yr with 3% annual rent bump. $1.778M. 8.44% cap. Seller will finance at 6.5% interest.
5. Rite Aid in Wilmington, MA: 15,040 SF drugstore on 1.3 acres parcel in a stable and high income (AHI $92K/yr) Boston suburb. Long term lease. NOI $272K/yr. $3.108M. 8.75% cap.
6. Arby’s restaurant in Peoria, AZ: 3100 SF restaurant built in 2001 on .72 acre pad site to Home Depot and Sears in a growing and high income Phoenix metro. 100% absolute NNN lease till 2021 with corp guaranty. NOI $131K/yr. $1.873M. 7% cap.
7. Rite Aid in Westford, MA: 15,103 SF drugstore in an affluent and growing Boston metro with AHI over $132K/yr. New 20 yrs absolute NNN lease. NOI $307K/yr with 10% rent bump every 10 yrs. $3.839M. 8% cap.
   
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