Top 7 Properties of 03-18-09

1. Shopping center in Katy, TX: 24,285 SF 5-yrs old shopping center in a fast growing (82% since 2000) upscale Houston suburb. Excellent visibility. 92% NNN leased by 10 tenants with 1 small vacant unit. NOI $370K/yr. $4.495M. 8.23% cap.
2. Dollar Tree store in San Jose, CA: 11,972 SF Dollar Tree store (NASDAG: DLTR) on Story road, across the street from Wal-mart. 10 yrs NNN corp lease. NOI $307K/yr. $4.458M. 6.75% cap.
3. Retail center in Al Cajon, CA: 5114 SF retail building on a busy corner lot in San Diego metro. Recently under $350K renovation. 100% leased by 4 tenants. NOI $127K/yr. $1.675M. 7.3% cap.
4. Shopping center in Wichita, KS: 14,291 SF shopping center built in 1999 on 1.66 acres lot in a wealthy (AHI $112K/yr). 94% NNN leased by 6 tenants with just 800 SF unit vacant. NOI $206K/yr. $2.43M. 8.5% cap.
5. Fletcher’s Tire & Auto Service in Tucson, AZ: single-tenant tire and auto service center built in 2006 on 1.07 acres parcel in a booming (50%) area. 25 yrs NNN lease. NOI $160K/yr. $2.13M. 7.5% cap.
6. Shopping center in Redding, CA: 14,837 SF upscale shopping center built in 2007 on 1.1 acres lot adjacent to 523,000 SF Mt Shasta Mall with easy access to I-5. Surrounded by Walmart, Costco, Lowes, Home Depot, and Target. 100% NNN leased by national and regional tenants. NOI $456K/yr with 3% annual rent bump. $5.5M. 8.3% cap.
7. Shopping Plaza in Salem, VA: 82,033 SF shopping center anchored by Kroger Supermarket (NYSE: KR) with strong revenue in Roanoke metro. NOI $736K/yr. $7.75M. 9.5% cap.
   
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