04-19: Shopping centers, office tower, Auto center, Fletcher's, Gold Gym

1.       Shopping center in Fox River Grove, IL: 14,035 SF shopping center built in 2007 in affluent Chicago suburbs (AHI $120K/yr).  95% NNN leased to 3 tenants: Car X, Brunch Café, and Armeneti Wine & Liquor with 1 small 677 SF unit vacant.  NOI $257K/yr. $2.94M. 8.75% cap.

2.       Office Tower in Houston, TX: 121,997 SF 6-story office tower on 3 acres lot with easy access to Hwy 59. 90% occupied.  NOI $762K/yr. $7.85M. 9.7% cap.

3.       Shopping Center in Centennial, CO: 30,024 SF 17-unit shopping center on 3.56 acres lot near I-25 in affluent Denver suburbs (AHI $119K/yr).   89% NNN leased.  NOI $498K/yr. $6.9M. 7.22% cap.

4.       Retail Center in Las Vegas, NV: 13,727 SF 10-unit retail center built in 1992 on .96 acre lot in high income area.  82% NNN leased.  NOI $179K/yr. $2.395M. 7.5% cap.

5.       Auto Center in Las Vegas, NV: 32,491 SF multi-tenant auto center on 2.86 acres lot on a busy artery with easy access to I-515. 90% leased to 7 tenants.  NOI $322K/yr. $3.578M. 9% cap.

6.       Office building in McKinney, TX: 50,571 SF class-A 3 yrs old office building on 2.67 acres lot in Dallas metro.  100% leased.  NOI $708K/yr. $7.870M. 9% cap.

7.       Shopping Center in Reno, NV: 73,644 SF shopping center built in 2008 on over 5 acres parcel as a part of a center anchored by Lowe’s, CVS and Auto Zone.  100% NNN leased to 2 recession insensitive tenants: Goodwill and Dollar Tree.  NOI $504K/yr. $5.765M. 8.75% cap.

8.       Shopping Center in Gilbert, AZ: 55,076 SF shopping center built in 1998 in Phoenix metro.  100% leased to 2 recession insensitive tenants: Goodwill and 99 Cents Only.  NOI $461K/yr. $5.43M. 8.5% cap.

9.       Fletcher’s Tire and Auto Service in Maricopa, AZ: 5378 SF single-tenant Fletcher’s Tire and Auto Service, a regional auto center with 35 locations in AZ.  15 yrs NNN absolute NNN lease.  NOI $142K/yr. $1.952M. 7.3% cap.

10.   Gold’s Gym in Salinas, CA: 19,200 SF fitness center built in 2006 in a middle class town 30 minutes from Silicon Valley.  Part of a shopping center anchored by Safeway and close to Natavidad Medical Center.  100% leased.  NOI $350K/yr. with 3% annual rent bump.  $3.858M. 9.07% cap.

© Transmercial 2011.