Top 5 Properties Among 349 on 9/8/09

1. Walgreens in Holy Springs, NC: 14,564 SF newly built drug store on 1.98 acres corner lot across street from Harris Teeter Supermarkets anchored shopping center in a fast growing and wealthy Raleigh suburb. New 75 yrs NNN lease. NOI $347K/yr. $4.63M. 7.5% cap.
2. Shopping Center in Houston, TX: 84,162 SF shopping center built in 1998 on 3.56 acres lot with frontage on an 8-lane I-35. Anchored by Conn’s Appliance. 100% NNN leased by 7 tenants: 5 of them national/regional. NOI $572K/yr. $5.7M. 10% cap.
3. Metro Surgery Center in Phoenix, AZ: 13,835 SF surgery center on ¾ ac parcel near Metrocenter Mall. 100% NNN leased till 2016 and guaranteed by United Surgical Partners International with revenue over $1.6B in 2008. NOI $280K/yr with 3% annual rent bump. $3.275M. 8.56% cap.
4. Checker’s Drive-In in Conyers, GA: 736 SF Checker’s drive-in franchised restaurant on .43 ac lot just off I-20 off-ramp in Atlanta metro. 20 yrs NNN ground lease (land is for sale) by the largest franchisee. NOI $69K/yr with 20% rent increase in yr 11. $862K. 8% cap.
5. Strip Center in Chicago, IL: 10,978 SF strip mall built in 1999 on a corner lot. 100% NNN leased by Citibank, Cricket Cell Phone and MS Beauty Supply. NOI $194K/yr. $2.1M. 9.25% cap.
   
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