Wednesday, September 7, 2011

08-24: El Pollo Loco, Davita, Shopping centers, Applebee's, O'Chalrey's


  1. El Pollo Loco in Atlanta, GA: 3210 SF free-standing retail building constructed in 2007 on .75 ac lot outparcel to new Aldi Grocery anchored center along busy retail corridor. 100% absolute NNN corporate ground lease (only land is for sale) till 2022. NOI $75K/yr. $1.232M. 7% Cap. 
  2. DaVita in Sanford, FL: 8586 SF medical building constructed in 2005 across from Central Florida Regional Hospital in Orlando MSA. 100% NNN corporate lease till 2020. NOI $250K/yr with CPI-based rental increases every 3 yrs. $3.158M. 7.94% Cap. 
  3. Strip Center in Moraga, CA: 4096 SF strip center anchored by 7-Eleven in affluent (AHI $139K/yr within 3-miles) San Fran Bay Area . 100% NNN leased to 3 tenants with 1 10 yrs lease from 7-Eleven. NOI $102K/yr. $1.460M. 7% Cap.  
  4. Shopping Center in Hillside, IL: 25,496 SF shopping center on 1.90 ac lot across from 1+M SF corporate center at a signalized intersection. Middle-class Chicago suburbs. 94% leased. $5.4M. NOI/Cap not avail.   
  5. Office Building in Clarksville, TN: 4900 SF Class-B single-tenant office building near hospital and next to Hwy-79. 100% leased. NOI $69K/yr. $864K. 8% Cap. 
  6. Distressed Shopping Center in Mount Prospect, IL: 32,188 SF well-maintained shopping center on 2.86 ac lot in high income Chicago metro.  Excellent tenant mix: El Sombrero Restaurant, Dental Office, Best Vision Optometry, Enagic, USA and Spa One at high traffic location. $4M. NOI/Cap not avail.  
  7. Retail Center in Jonesboro, GA: 10,000 SF retail center built in 2002 on 1.20 ac corner lot along main retail corridor in fast growing area. 75% leased. Current/Pro forma NOI $56K/$78K.  $750K.  7.46% cap.  Upside potential when 100% leased. 
  8. Applebee’s in Fort Collins, CO: 4700 SF sit-down family restaurant on .82 ac lot shadow-anchored by TJ Maxx, across from Target and near Foothills Mall. High income Denver suburbs.  Over 15-yrs remaining on absolute NNN lease. NOI $125K/yr with 8%-10% rental increases every 5 yrs. $1.537M. 8.15% cap.  
  9. O’Charley’s Restaurant in Richmond, VA: 7050 SF all brick restaurant built in 2001 on over 2 ac lot off of I-64 in high income area (AHI $85K/yr). Long absolute NNN corporate lease to O’Charley’s  with 235 locations. NOI $186K/yr with 1.75% annual rent increases. $2.485M. 7.5% Cap.
© Transmercial 2011
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