09-28: Retail Centers, Del Taco, 24-hr Fitness, Davita, Jack in the Box

For a full marketing brochure, please forward the email to maria@transmercial.com and specify the property number.  We may ask you for feedback later for the listing broker.  If so, please cooperate.

• 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.  Retail Center in Ocoee, FL: 51,160 SF retail center renovated in 2008 on 7.22 ac lot in growing & high income Orlando suburbs. Anchored by 47,634 SF LA Fitness center with 15 yrs lease (12 yrs left).  NOI $804K/yr. $9.224M. 9% cap. 
2. Shopping center on Puyallup, WA: 142,002 SF shopping center built in 1995 on 11 acres prime commercial lot in fast growing & middle class Seattle suburbs.  Directly across from the one million square foot South Hill Regional Mall. 100% leased to 4 tenants: Big! Lots, Sportsman Warehouse, Petsmart and Office Depot (Office Depot will vacate in Dec 2011).  NOI $1.53M.  $18.5M.  8.25% cap.  Appraised at $25M. 
3. Del Taco in Aurora, CO: 2491 SF restaurant built in 2005 on .95 ac outparcel to Walmart, Home Depot, Best Buy, and BBB in Denver metro.  Excellent demographics with AHI $90K/yr in 1 mile.  100% NNN leased till 2025 to an operator with 8 stores.  NOI $145K/yr with 5% rent bump every 5 yrs.  $1.717M. 8.5% cap. 
4. Shopping Center in Sacramento, CA: 118,619 SF 16-unit mature shopping center on 9.12 acres parcel with 6 points of access from 3 frontages.  Anchored by Big! Lots, dd discount (owned by Ross), and Fresh & Easy Neighborhood market.  100% leased.  NOI $1.422M. $17,785M. 8% cap. 
5. 24-Hour Fitness Center in Huntington Beach, CA: 30,070 SF 24-Hour Fitness Center on 2.59 acres lot on a major artery in a densely-populated (370K residents in 5 miles) & affluent coastal city in Southern CA with AHI of $112K/yr.  Area with high barrier to entry.  100% NNN corp lease with 3 yrs left with rent about 15% below market.  NOI $587K/yr. $6.912M. 8.5% cap. 
6. Davita Dialysis in El Paso, TX: 7500 SF brand new Davita in fast growing (160% since 2000) and high income (AHI $63K/yr in 1 mile).  New 15 yrs NNN-.  NOI $161K/yr.  with 10% rent bump every 5 yrs.  $2.1M.   $7.5% cap. 
7. Medical Office Building in Live Oak, TX: 9000 SF medical office building completed in 2010 on 1.37 acres lot near I-35  in San Antonio metro.  100% NNN- leased to 2 medical tenants, both with 10 yrs lease: Davita Dialysis, and San Antonio Kidney Disease Center.  NOI $207K/yr. $2.76M. 7.5% cap. 
8. Jack In the Box in Happy Valley, OR: 2500 SF JIB restaurant with high-quality construction on .48 acre lot in fast growing (50% since 2000) & affluent Portland suburbs (AHI 96K/y in 1 mile).  New 20 yrs absolute NNN to a seasoned franchisee with 64 locations.  NOI $140K/yr. with 1% annual rent bump. $2.15M. 6.5% cap.

© Transmercial 2011.