Top 10 Properties 01-04-10

NOI: Net Oper Income
AHI: Avg Household Income

1. Shopping Center in Cumberland, RI: 34,529 SF community center consisting of three retail buildings constructed in 1999, and anchored by Rite Aid. In growing middle-class (AHI $78K/yr) city about 40-mile from Boston. 100% NNN leased by Rite Aid, Urgent Care tenants and retail shops. NOI $493K/yr. $5.947M. 8.30% Cap.
   Upside potential as tenants currently paying low rent
2. Rite Aid Pharmacy in Hemet, CA: 17,272 SF recently constructed retail building on 1.53 acres of land at a signalized intersection. Long term NNN corp lease. NOI $521K/yr. $6.135M. 8.5% Cap.
3. Tuffy/CarX Auto in Bettendorf, IA: 5100 SF 3-years old automotive center on 1.46 acres of parcel adjacent to Walgreens Pharmacy at hard corner location. New 20-years NNN corp lease with rental increases every 5-years. NOI $123K/yr. $1.517M. 8.15% Cap.
   Tuffy Associates Corp. operates over 400 stores between Car-X & Tuffy.
4. Medical Building in Yuba City, CA: well-located 8420 SF medical building completed in 2008 on .91 acre lot. 100% NNN leased. NOI $136K/yr. $1.956M. 7% Cap.
5. Retail Condo in Lynnwood, WA: 6428 SF Susumu Japanese Steakhouse Restaurant at busy retail location near Highway-99 in an economically stable Seattle metro. 100% NNN lease. NOI $76K/yr. $925K. 8.30% Cap.
6. Jack in the Box in Dallas, TX: 2481 SF single-tenant Jack in the Box retail building on .49 acre lot off of I-35E. 100% NNN leased. NOI $87K/yr. $1.062M. 8.25% Cap.
7. Del Taco Retail Building in Parker, CO: brand new 2166 SF retail building on .64 acre lot in high income Denver suburbs. Shadow-anchored by Best Buy and Staples at highly visible location. Long NNN leased by strong franchisee. NOI $175K/yr. $2.2M. 8% Cap.
8. Big O Tires in Gilbert, AZ: 5075 SF attractive single-tenant retail building constructed in 2002 on .87 acre pad with excellent frontage along busy retail corridor in fast growing Phoenix area. 100% NNN lease with 2% annual rent increases. NOI $128K/yr. $1.690M. 7.6% Cap.
9. KFC Retail Building in Indianapolis, IN: 2607 SF free-standing retail building with drive-thru on .63 acre lot with excellent ingress/egress near I-74. Brand new 15-years absolute NNN lease by experienced franchisee with 43 KFC’s restaurants. NOI $97K/yr. $1.143M. 8.5% Cap.
10. Medical Building in Las Vegas, NV: 17,410 SF attractive medical building along busy retail corridor conveniently located at corner location. 88% leased by good tenant mix. NOI $216K/yr. $2.375M. 9.11% Cap.
    
    Sales Activities:

1. Romano’s Grill restaurant in fort Worth, TX: 2.389M. 8.5% cap. Sale pending.
2. Church’s Chicken in Pinellas Park, FL: $700K. 8% cap. In contract.
3. Apartments in Edmonds, WA: closed escrow.
4. Shopping Plaza in Winthrop Harbor, IL: $4.07M. in contract.
5. Church’s chicken in Nashville, TX: closed escrow.
6. Strip center in Rialto, CA: closed escrow.
7. Apartments in Dallas, TX: $2.35M. In contract.
8. Office building in Keller, TX: closed escrow.

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