NOI: Net Oper Income
AHI: Avg Household Income
- Borders Books in Plantation, FL: 24,822 SF sing-tenant retail building constructed in 1999 on 2.37 acres lot adjacent to 2.383 Million SF 300-store Sawgrass Mills Mall (6-th largest mall in US). City West of Fort Lauderdale with excellent demographics: AHI over $107K/yr. 100% NNN absolute corp lease with 9 yrs left. NOI $383K/yr. $3.82M. 10% cap.
- Apartments in Los Angeles, CA: 28-unit 3-story apartments complex in a densely-populated city with over 1M residents within 5 miles radius. NOI $224K/yr. $2.7M. 8.3% cap.
- Arby’s in Colorado Springs, CO: 3246 SF 5-yrs old franchised fast-foods restaurant on ¾ acre out parcel to a Kings Sooper Grocery and Pharmacy at an intersection of 2 major arteries. Excellent demographics with AHI over $77K/yr and 95% pop growth from 2000-2008. 100% NNN leased by the largest Arby’s franchisee. 14 yrs left on the lease. NOI $129K/yr. with 7.5% rent bump every 5 yrs. $1.7M. 7.59% cap.
- Retail center in Elk Grove, CA: 7200 SF strip mall as part of a large shopping center in fast growing and upper income Sacramento metro (AHI $86K/yr). Proforma NOI $127K/yr. $1.45M. 8.96% cap.
- Apartments in Austell, GA: 267-unit 15-building bank-owned apartments complex on 22 acres of land in Atlanta suburbs. Large units with avg size of 1083 SF. Amenities include clubhouse, swimming pool, tennis courts, a fitness center, and on-site laundry facilities. Area with excellent schools. Proforma NOI $850K/yr. $8.5M. 10% cap.
- Apartments in Anaheim, CA: 8-unit 9022 SF apartments near Disneyland and Anaheim Stadium. 2 4-BR units, 2 -3- BR units, 2 2-BR units and 2 1-BR units. Gross revenue $138K/yr. $1.425M. 8.24% cap.
- Rite Aid in Raleigh, NC: 10,908 SF drug store built in 2001 on a hard corner with convenient 2 points of access. Fast growing (97%) and upper income area. NNN leased till 2022. NOI $284K/yr. $2.647M. 10.75% cap.
- Davita Dialysis Center in Marriott Slaterville, UT: 5000 SF 2-yrs old medical office building in Salt Lake City metro. 10 yrs NNN lease by a financially strong national tenant. NOI $88K/yr. $1.054M. 8% cap. Recession insensitive tenant.
Activities:
2. Office Building in Campbell, CA: 40,000 SF. Closed escrow.
3. Retail center in Laredo, TX: price increased from $1.175M to $1.395M.
4. Jack In the Box in Dallas, TX: price increased from $1.031M to $1.095M
5. Jack In The Box in Perris, CA: $2.262M. 6.25% cap. Pretty low cap and yet it’s in contract!
6. CVS Pharmacy in Las Vegas, NV: $2.563M. Zero cash flow. In contract.
7. Jiffy Lube in Surprise, AZ: $1.635M. In contract.
8. Walgreens in Montgomery, IL: $5.915M. 7.1% cap. In contract.
9. Apartments in Watsonville, CA: 11 units, $2M. In contract.
(c) Transmercial 2010. All rights reserved.
When the economy is in recovery phase, it’s time to buy. Below are some evidence from the Wall Street Journal that things are getting better. Prices are likely to go up.
US central bank posts record profit of US$52.1 billion Posted: 13 January 2010 0132 hrs
WASHINGTON: The US Federal Reserve said Tuesday it earned a record profit in 2009 of US$52.1 billion, led by gains on its unorthodox investments and bailouts during the height of the financial crisis. The profit will provide US Treasury with US$46.1 billion from the operations of the central bank.
Banks Set for Record Pay - Top Firms on Pace to Award $145 Billion for 2009, Up 18%, WSJ Study Finds
JANUARY 14, 2010. BY STEPHEN GROCER
Major U.S. banks and securities firms are on pace to pay their people about $145 billion for 2009, a record sum that indicates how compensation is climbing despite fury over Wall Street's pay culture.
An analysis by The Wall Street Journal shows that executives, traders, investment bankers, money managers and others at 38 top financial companies can expect to earn nearly 18% more than they did in 2008—and slightly more than in the record year of 2007. The conclusions are based on an examination of securities filings for the first nine months of 2009 and revenue estimates through year-end.
No comments:
Post a Comment