Top 7 Properties 12-15-09

1. Retail center in Chicago: 21,875 SF shopping center on 1 acre corner lot anchored by Advance Auto Parts with new 10 yrs lease. 100% NNN leased by 2 tenants. NOI $190K/yr. $2.215M. 8.59% cap.
2. Single tenant retail in McAllen, TX: 88,248 SF 4-yrs old single-tenant retail building on 9 acres lot as part of a 46-acres lifestyle center with Best Buy, Office Max, Old Navy, Target, Ross, Marshalls, Hobby Lobby, Bealls, PetSmart, and Home Depot. Fast growing (45% since 2000) and high income area with AHI of 87K/yr within 1 mile ring. 20 yrs NNN corp lease by Kohl’s. NOI $603K/yr. $7.4M. 8.15% cap.
3. Apartments in Arlington, TX: 70 unit townhomes complex on 5.17 acres lot in Dallas metro. Large units, avg size of 1172 SF. 97% occupied. NOI $265K/yr. $3M. 8.84% cap.
4. Apartments in Mesquite, TX: 52-unit bank-owned apartments on 2.56 acres parcel in suburban Dallas. 73% occupied. Proforma NOI $158K/yr. $1.9M. 8.35% cap.
5. Shopping Center in Sunnyvale, CA: 18,122 SF shopping center on 2 acres lot in the heart of Silicon Valley. 78% NNN leased by 8 tenants with 3 small vacant units. Actual NOI $272K/yr. Price reduced from $5.375M to $4.775M. 5.7% cap. Upside when fully leased.
6. Jim N Nick’s BBQ restaurant in Montgomery, AL: 5654 SF regional franchised restaurant on 1.2 acres pad in front of Walmart supercenter. 20 yrs absolute NNN lease with guaranty by a corp with 26 locations. Store with strong sales of $5M/yr and highly profitable. NOI $220K/yr. $2.315M. 9.5% cap.
7. Shopping Center in Los Angeles, CA: 11,198 SF 2-story retail office building on a corner lot. 100% occupied. NOI $187K/yr. $2.495M. 7.5% cap.
   
   Sales Activities:

1. Shopping center in Hattiesburg, MS: 32,720 SF, 9% cap: in contract
2. Popeyes Chicken restaurant in Huntsville, AL: $1.2M. in contract
3. Daycare Facility in Littleton, MA: closed escrow.
4. Advance Auto Parts in Leesburg, FL: 7.82% cap. closed escrow.
5. Advance Auto Parts in Minneola, FL: 7.88% cap. closed escrow.
6. Rite Aid, New London CT: 9% cap. closed escrow.

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