Top 6 Properties 06-11-10

1. Home Depot in Austell, GA: 134,518 SF Home Depot built in 2007 on 14.46 acres lot in a fast growing area in Atlanta metro.  Across from Walmart, Lowe, Target, and Office Max. 20 yrs ground lease with 18 yrs remaining.  NOI $623K/yr. $8.9M.  7% cap. 
2. Taco Bell in Orlando, FL: 3023 SF restaurant on .87 acre outparcel to Sam Club.  100% NNN lease.  Tenant has been at this location since 1989.  NOI $105K/yr. $1.29M. 8.15% cap. 
3. Shopping Center in Chicago, IL: 17,794 SF retail center on 1.47 acres lot with all units facing the road. 92% leased.  NOI $235K/yr. $2.14M. 11% cap. 
4.  Shopping center in Omaha, NE: 23,954 SF class-A shopping center built in 2004 on over 2 acres corner lot in fast growing upper middle class (AHI $112K/yr).  96% NNN leased.  NOI $323K/yr. $3.8M. 8.5% cap.  Buyer to assume $3.344M non-recourse loan at low 5.75% interest.  Just 12% down payment needed! 
5. Ulta Beauty Store in Jackson, TN: 10,000 SF brand new single-tenant retail center in a prime commercial area near I-40.  Surrounded by Best Buy, Hobby Lobby, Ashley Furniture, Home Depot, Lowe's, Wal-Mart Supercenter and Sam's Club. New 10 yrs NNN lease by Ultra Beauty (NASDAQ: ULTA), a national chain.  NOI $222K/yr. $2.87M. 7.75% cap.
6. 24 Hr Fitness in Fort Worth, TX: 36,000 SF single-tenant fitness center built in 2007 on 4.75 acres of land near I-35W exit in a booming area.  100% NNN lease with 16 yrs remaining.  NOI $723K/yr. with 12% rent bump every 5 yrs.  $8.3M. 8.71% cap.  Buyer to assume $6.5M nonrecourse loan at 6.18% fixed till 2017. 

Client’s testimonial

A former employer of mine asked me to come out to San Jose from Ireland to work with him on finding some investment properties to buy.  I searched the internet for a broker that I could work with, and found Transmercial.  I liked what I read on the internet about David and decided that this would be a good place to start.  On meeting David, I immediately felt at ease.  And unlike many other brokers, I did not feel at all under any pressure. So I decided to go with my gut feeling and use him as our broker.  What a great decision it turned out to be! From the start he sourced great properties for us to look at.  At no stage did he encourage us to make any decision that we weren't fully happy with. Now a few months later we have bought two great properties, and are very happy with our investments. At all times I found David and his assistant Maria extremely pleasant and professional to deal with. I would encourage anyone who is thinking of getting into commercial real estate investment to make an appointment with David and decide for yourself if he is the broker for you, because he certainly was for me.

Mike Walsh, Ireland.  2010.

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