top 8 Properties 01-08-10

1. Buffalo Wild Wing in Austin, TX: 6188 SF brand new franchised restaurant on 1.3 acres with I-35 frontage in a fast growing (36% since 2000) and middle upper class part of Austin (AHI $89K/yr). In front of Wal-mart and across Target. 15 yrs NNN from the largest Buffalo Wild Wing franchisee. NOI $$252K/yr with 10% rent increase every 5 yrs. $3.155M. 8% cap.
2. Office/Retail Complex in Surprise, AZ: 30,000 SF well-maintained 2-story 2-unit retail/office building on 2.84 acres lot anchored by Fresenius Dialysis in Phoenix metro. 90% leased. 8% cap. Gross revenue of $445K/yr.
3. Shopping Center in Tulsa, OK: 69,742 SF retail office complex on 4.14 acres of land. 86% leased. NOI (proforma?) $429K/yr. $3.9M. 11% cap.
4. Office Building in Eagan, MN: 5945 SF class-A office building in high income Saint Paul metro. 100% leased to 3 tenants. NOI $90K/yr. $920K. 9.8% cap
5. Pep Boy Automotive Center in Albuquerque, NM: 17,925 SF automotive center on 1.32 acres lot. 15 yrs absolute NNN corp lease. NOI $198K/yr. with 1.5% annual rent bump. $2.698M. 7.36% cap.
6. Retail Center in San Jose, CA: 32,253 SF retail/medical 3-building center on 3 acres corner lot in a high income area with AHI over $115K/yr. 100% NNN leased by 16 tenants. NOI $547K/yr. $7.99M. 6.85% cap.
7. Medical Building in Santa Ana, CA: 6800 SF single-tenant medical office building on 1.1 acre lot in a densely populated city in Orange county. 100% NNN leased. NOI $105K/yr. $1.75M. 6% cap. Upside potential.
8. Shopping Center in Weston, FL: 20,950 SF upscale shopping center on 2.7 acres parcel in an affluent North Miami metro (AHI $129K/yr). 100% NNN by 11 tenants. NOI $672K/yr. $8.3M. 8% cap.

Prices increased:

1. Taco Bell in Glendale, AZ: from $1.195M to $1.278M. from 7.7% to 7.2% cap.
2. Verizon Wireless in Wake Forest, NC: from $2.147M to $2.21M. From 8.75% to 8.5% cap.
3. Shopping center in Temecula, CA: from $4.8M to $4.9M.

Sales activities:

1. Advance Auto in Minneola, FL: closed escrow.
2. Advance Auto in Leesburg, FL: closed escrow.
3. Retail property in Milpitas, CA: closed escrow.
4. Apartments in Stone Mountain, GA: $5M. In contract.
5. Apartments in Burlingame, CA: closed escrow.

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