Top 10 Properties 02-08-10

AHI: Avg Household Income
NOI: Net Oper Income

1. Walgreens in Cape Coral, FL: 14,820 SF brand new drugstore on 1.54 acres parcel next to Publix Supermarket anchored shopping center in Fort Myers area. 25 yrs NNN lease. NOI $348K/yr. $4.8M. 7.25% cap.
2. Advance Auto Parts in Cheyenne, WY: 7000 SF auto parts store built in 2008 on ¾ acre lot. 15 yrs NNN lease. NOI $128K/yr. $1.602M. 8% cap.
3. Strip Center in Hayward, CA: 5096 SF strip mall built in 2004 on .43 acre lot on a major artery in high income San Fran Bay Area. 100% NNN leased by 5 tenants. NOI $157K/yr. $2.15M. 7.3% cap.
4. Starbucks Coffee in Little Rock, AR: 1750 SF Starbucks coffee built in 2006 on ½ acre lot. 100% NN lease till 2017 with no termination clause. NOI $83K/yr. with 10% rent bump in 2012. $956K. 8.75% cap.
5. Goodyear Just Tires Auto in Apex, NC: 7600 SF automotive center built in 2007 on .9 acre outparcel to a center anchored by Super Target and Lowes in a high-growth (74% growth) and high-income (AHI $92K/yr) Raleigh metro. 100% NNN lease with 12 yrs remaining. NOI $216K/yr. $2.7M. 8% cap.
6. Shopping center in Glendale, AZ: 22,280 SF neighborhood center shadow anchored by Albertsons Supermarket in a wealthy (AHI $118K/yr) city in Phoenix metro. Next to Loop 101 exit. 100% NNN lease. NOI $524K/yr. $5.995M. 8.75% cap.
7. Burger King in Corpus Christi, TX: 3000 SF restaurant on 1 acre lot. New 20 yrs absolute NNN lease by a franchisee with 37 locations. NOI $110K/yr. with 1% annual rent bump. $1.375M. 8% cap.
8. Shopping Plaza in Bakersfield, CA: 32,897 SF bank-owned shopping plaza built in 2006 on 3 acres lot. Anchored by a 15,555 grocery store. Once appraised over $6M. $1.995M.
9. Walgreens in Tucson, AZ: 13,905 SF drug store built in 1998 on 2.17 acres corner lot across from Northwest Medical Center in a fast growing area. 100% NNN lease with 8 yrs remaining. NOI $322K/yr. $3.8M. 8.48% cap.
10. Dollar General in Pueblo CO: 9100 SF brand new Dollar General store. 10 yrs modified NNN lease. NOI $106K/yr. $1.324M. 8% cap.
    
    Sales Activities:

1. Office building in Colleyville, TX: 4415 SF, 855K. In contract.
2. Walgreens in West Palm Beach, FL: $4.95M. In contract.
3. Staples in Reno, NV: 18,000 SF. 7.73% cap. Closed escrow.
4. Big Lots in Munhall, PA: $3.2N. In contract.
5. Dicks Sporting Goods in Irving, TX: 55,000 SF. 9% cap. Closed escrow.
6. Retail center in Fredericksburg, VA: 11,400 SF. 3.874M. In contract.

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