09-06: shopping center, Audio production studio, Black-eyed Peas

• AHI: Avg. Household Income.  National average is about $50+K/yr.
• NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.
• NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.
• NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1.  Neighborhood Center in Lake Jackson, TX: 34,969 SF 14-unit center on 3.44 ac lot. Shadow-anchored by Kohl’s. 92% NNN leased to 12 tenants including: Famous Footware, Lane Bryant, Sally Beauty Supply, Edward Jones, Quest Diagnostic, Cricket Communication. High income town 30 minutes South of Houston.  NOI $518K/yr. $6.48M. 8% Cap.  
2. Office-R&D in Hollywood, CA: 40,315 SF recently renovated two-story highly improved audio post production facility on 1.32 ac lot.  Affluent Hollywood Media District with AHI of $113K/yr in 1 mile. 100% NNN lease till 2018 to renowned sound post operator CSS Studios, LLC a wholly owned subsidiary of Discovery Communications, Inc. (Nasdaq: DISCA.  The facility has won numerous Academy Awards for sound including The Bourne Ultimatum, Dreamgirls, Chicago, Black Hawk Down, Gladiator, Saving Private Ryan, Apollo 13, Speed and ET, Extra Terrestrial. NOI $1.057M/yr with 3% annual rent increases. $12.4M.  8.74% Cap. 
3. Retail Center in Houston, TX: 15,524 SF inline retail center shadow-anchored by Kroger and close to Fwy-290. 87% leased with several national tenants: Wells Fargo, Jackson Hewitt Tax Service, Ace Cash Express and Rainbow Fashion. NOI $220K/yr. $2.2M. 10% Cap.  
4. Neighborhood Center in Rocky Hill, CT: 109,000 SF multi-tenant center renovated in 2005 on 8.80 ac lot.  83% leased to 3 long-term tenants: Porter & Chester Institute, Davita Dialysis and Namco. Current NOI $894K/yr. $11.175M.  8% Cap.  
5. Black-Eyed Peas in Colorado Springs, CO: 5570 SF well-performing single-tenant family restaurant on 1.33 ac lot next to I-25 and adjacent to Hilton Place, Super 8, La Quinta, Days Inn and more. 100% NNN absolute NNN lease. NOI $156K/yr. $1.950M. 8% Cap.

© Transmercial 2011.