Top 7 Properties 12-04-09

1. Office Building in Colleyville, TX: 4415 SF 1 yr old single-tenant class-A office building in an affluent (AHI $129K/yr within 1 mile radius) Dallas metro. 100% NNN lease by Texas Health Resources is one of the largest faith-based, nonprofit health care delivery systems in the US. Credit tenant with a strong Aa3 credit rating. NOI $68K/yr. Only $855K. 8% cap.
2. Mimi’s Café in Brandon, FL : 7045 SF high quality asset on over 2 acres lot near 974,000 SF Westfield Brandon Mall. 100% long term absolute NNN leased by Mimi’s Café with 144 locations in mostly sunbelt states. NOI $219K/yr with CPI-based rent increase. $2.926M. 7.5% cap.
3. Best Western Hotel in Champaign, IL: 100-unit hotel near I-74 exit. NOI $600K/yr. $3.999M. 15% cap (probably proforma).
4. Apartments in Irving, TX: 75-unit apartments complex on over 4 acres lot in Dallas metro with recent $560K renovation. 85% occupied. Gross income $397K. NOI $219K/yr. $2.225M. 9.87% cap.
5. Apartments in Jacksonville, FL: 232-unit garden-style apartments complex consists of 40 2-story buildings on over 11 acres parcel with swimming pool, car care center. Across from new & modern 352-bed Memorial Hospital Jacksonville. 86% occupied. NOI $828K/yr. $9.7M. 8.54% cap.
6. Shopping Center in Buford, GA: 18,430 SF 4-unit retail center built in 2003 on 1.92 acres hard corner lot at the entrance to Mall of Georgia. Excellent demographics: 55% growth since 2000, AHI over $84K/yr. Easy access to I-85. 85% leased. Profoma NOI $289K/yr. $3.1M. 9.3% proforma cap.
7. Office Building in Sarasota, FL: 8253 SF single-tenant financial center built in 1997 on 1 acre lot in a high income Tampa metro. 100% NNN leased by Wells Fargo. NOI $166k/YR. $2m. 8.3% CAP.
   
   
   Sales Activities:
   1. Orchard Supply Hardware Store, Fairfield CA: $8.5M. In contract.
   2. Wendys, Kenosha WI: close of escrow.
   3. Town Center Plaza, Mesquite TX: $14,975M. In contract.
   4. Advance Auto, Commerce City CO: close of escrow.
   5. KFC, Fort Oglethorpe GA: $1.31M. in contract.
   6. Ross, San Juan Capistrano CA: 4.75M. In contract.
   7. 7-11, Arlington VA: $1.5M. In contract.
   8. 7-11, Alexandria VA: $1.762M. in contract.
   9. Kragen Auto, Riverside CA: $2.069M. in contract.
   10. Animal Hospital, Glendale AZ: $1.65M. in contract.
   11. KFC, Fort Worth TX: $1.618M. in contract.
   12. Shopping Center, Renton WA: $7.4M. in contract
   
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