08-10: LA Fitness, Starbucks Coffee, Wendy's, Shopping Centers, Office Building

1. Retail Center in Tucson, AZ: 7343 SF retail center built in 2006 shadow-anchored by Albertson’s grocery near I-10. 65% leased. Current NOI $97K/yr. $1.142M. 8.50% Actual Cap. Upside potential when fully leased.  
2. LA Fitness in Hemet, CA: 50,000 SF fitness center built in 2008 on 5.61 ac lot across from Home Depot at densely populated Los Angeles MSA. NNN corporate lease till 2013. NOI $740K/yr with a rent bump in 4/2013. $10.230M. 7.24% Cap.  Buyer to assume $6.75M non-recourse loan at low 5.84% interest. 
3. Strip Center in Aurora, CO:  31,063 SF recently remodeled  strip center shadow-anchored by Big Lots at high traffic retail intersection in Denver metro. 100% leased by national tenants including Dollar Tree, and Aaron’s Appliances. NOI $243K/yr. $2.860M. 8.5% Cap.  
4. Shopping Center in Johnson City, TN: 40,760 SF  4-yr old 15-unit shopping center on 5.28 ac out-parcel to Wal-Mart.97% NNN leased to mostly national tenants: Family Dollar, Verizon Wireless, Gamestop, Radio Shack, Check N go, Sally Beauty, Shoes Show, Cato Fashion, and Great Clips. NOI $525K/yr. $6.1M. 8.62% Cap.  
5. Office Building in Lancaster, CA: 12,200 SF Class-B multi-tenant office building on 1.40 ac lot across from Lancaster Community Hospital. 70% leased to 4 tenants. Actual NOI $101K/yr. $1.199M. 8.10% cap.  Upside potential when fully leased.  
6. Shopping Center in Rancho Cordova, CA: 40,704 SF shopping center shadow-anchored by Fresh & Easy and O’Reilly Auto parts.  Located at a signalized corner location with entrances from 3 different roads in Sacramento metro. Excellent national/regional tenant mix. 64% NNN leased. NOI $405K/yr. Price reduced $1M to $5.4M. 7.50% actual Cap. Upside potential when 100% leased. 
7. Wendy’s in Morrow, GA: 3000 SF restaurant with drive-thru on .88 ac outparcel to Sam’s Club in growing Atlanta metro. New 20 yrs absolute NNN lease to an operator with 21 units in Atlanta.  Store with strong 2010 sales of $1.2M.  NOI $103K/yr with percentage rent clause.  $1.327M. 7.75% cap. 
8. Starbucks Coffee in Houston, TX: 1750 SF retail building constructed in 2008 at highly visible location next to I-45. 100% NNN- lease till 2018. NOI $86K/yr with 10% rent bump in 2013. $1.147M. 7.5% Cap.
9. Shopping Center in Arvada, CO: 17,142 SF well-maintained 9-unit shopping center on 1.84 ac  signalized corner lot in middle-class Denver suburbs. Anchored by 7-11.  NOI $220K/yr. $2.450M. 7% Cap.

© Transmercial 2011