07-21-10 - Office Depot - Pep Boys - Retail Centers - For sale

1. Shopping center in Reseda, CA: 19,822 SF shopping center on 1.41 acres corner lot in a densely populated (over 550K residents within 5 miles ring) and strong income (AHI $85K/yr) city in Los Angeles.  100% leased.  NOI $419K/yr. $5.75M. 7.29% cap. 
2. Apartments in Austin, TX: 36-unit apartments built in 1985 on 1 ac lot in a stable city.  Proforma NOI $102K/yr. $1.2M. 8.5% cap. 
3. Walgreens in Cheryl Hill, NJ: brand new 13,965 SF Walgreens on 1.3 acres lot in a high income (AHI $91K/yr) Philadelphia metro.  New 25 yrs absolute NNN lease. NOI $489K/yr. $6.792M. 7.2% cap. 
4. Walgreens in Naperville, IL: 15,120 SF drug store built in 2000 on 1.54 acres corner lot with high traffic in affluent Chicago suburbs (AHI $110K/yr).  100% NNN lease with 10 yrs remaining.  NOI $289K/yr. $3.97M. 7.3% cap.  Note: low priced Walgreens at a great location. 
5. Office Depot in Barboursville, WV: 18,448 SF sing-tenant retail center built in 2004 as part of 400,000 SF Power Center - Anchored by Target and The Home Depot.  10 yrs corp NNN lease with 6 yrs remaining.  NOI $237K/yr.  $2.715M. 8.75% cap. 
6. Pep Boys Auto in Albuquerque, NM: 17,925 SF auto part and repair center on 1.32 acres lot. 15 yrs absolute NNN lease with 13 yrs remaining.  NOI $198K/yr. with 1.5% annual rent bump. $2.647M. 7.5% cap. 
7. Retail Center in Sacramento, CA: 7320 SF upscale multi-tenant retail center on 1.1 acres lot just off I-80 exit.  100% NNN leased.  NOI $177K/yr. $2.3M. 7.75% cap. 
8. Medical office building in Los Gatos, CA: rare 26,436 SF medical office building constructed in 1990 in a very affluent Silicon Valley metro (AHI $125K/yr) with high barriers to entry near hwy 17 exit.  Close to Good Samaritan Hospital.  NOI not avail.  $11,1M.

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