Monday, October 24, 2011

10-10: Walgreens, Shopping centers, Family dollar, Wendys, Best buy, AT&T, Christian Brothers Auto


  1. Walgreens in Shawnee, OK: 13,905 SF Walgreens built in 1998 on 1.69 acres lot at a signalized intersection in Oklahoma suburbs.  20 yrs NNN- with 8 yrs left.  Store with strong sales of $12M.  NOI $244K/yr. $3.021M. 8.1% cap. 
  2. Strip Center in Loveland, CO: 3523 SF two-tenant retail center built in 2005 on a pad to Albertsons grocery-anchored center in Denver suburbs.  100% NNN leased to Chipotle Mexican Grill and Fred Loya Insurance. NOI $112K/yr with 10% rent bumps every 5-yrs including options. $1.493M. 7.55% cap. 
  3. Family Dollar in Atlanta, GA: 9100 SF retail building built in 2001 on .92 ac lot across from CVS Pharmacy and close to I-20.  Proven location: tenant has been here for 10 yrs and just renewed 10 yrs NNN- lease.  NOI $91K/yr. $1.138M. 8% cap.   
  4. Wendy’s Restaurant in El Paso, TX: 3136 SF well performing restaurant close to Cielo Vista Mall and I-10. New 20-year NNN lease to strong operator. NOI $153K/yr with 7% rent increases every 5-yrs. Strong sales of over $1.815M. $2.04M. 7.5% cap. 
  5. 5.Best Buy in Lubbock, TX: 30,000 SF big-box single-tenant building on 3.14 ac lot adjacent to Lowes and across from Regional Mall. 100% absolute NNN corp lease.  NOI $453K/yr. $6.4M. 7.5% cap.  
  6. Retail Center in Hanford, CA: 5190 SF well-maintained retail center built in 1997 shadow-anchored by OSH in CA San Joaquin Valley. 100% NNN leased to Advance America, Baja Fresh and Nurse Boutique. NOI $76K/yr. $915K. 8.31% cap. 
  7. AT&T Retail Building in Pittsburgh, PA: 3000 SF single-tenant retail building adjacent to North Hills Village Mall. New 10-yrs NNN- lease. NOI $126K/yr. $1.68M. 7.5% cap.  
  8. Shopping Center in Orlando, FL: 49,200 SF 12-unit beautiful shopping center built in 2008 on 5.4 acres lot.  Anchored by HH Gregg appliances and shadow-anchored by Wal-Mart and Sam’s Club.  Current NOI $686K/yr.  Price reduced from $9M to $8.2M.   8.36% cap.  
  9. Christian Brothers Automotive in Shawnee, KS: 4921 SF auto center built in 2009 on .98 ac lot across from Dillon’s Grocery anchored center. In affluent ($109K/yr) Kansas City suburbs. 15 yrs absolute NNN corp lease. NOI $176K/yr with 1.5% annual rent increases. $1.963M. 9% cap.  
  10. Strip Center in Greeley, CO: 7878 SF strip center built in 2004 on 1.03 ac at major intersection next to Hwy-34 in affluent Denver suburbs.  100% NNN leased to 3 tenants: On the Rocks Liquor, Hertz and Pizza Hut. NOI $113K/yr. $1.475M. 7.67% cap.
© Transmercial 2011.

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