Tuesday, October 25, 2011

10-11: Shopping Centers, Office Building


  1. Shopping Center in Chicago, IL: 18,077 SF multi-tenant retail center built in 1989 on .81 ac lot  in a very densely-populated area (over 550K residents in 3 miles).  Tenants include 7-Eleven, Pizza Hut, Check N Go and local tenants.  97% NNN leased.  NOI $280K/yr. $4M. 7% cap. 
  2. Shopping Center in Coral Springs, FL: 20,327 SF well-maintained shopping center in affluent Fort Lauderdale metro. 93% leased.  NOI $239K/yr. $3M. 7.97% cap. 
  3. Neighborhood Center in Gastonia, NC: 47,480 SF retail center built in 1993 on over 7 acres lot in Charlotte suburbs. Anchored by Bi-Lo Supermarket, a regional chain with 207 stores. 100% leased.  NOI $348K/yr. $3.24M. 10.75% cap. 
  4. Strip Mall in Canton, GA: 12,000 SF strip mall built in 2009 in fast growing and upper middle-class Atlanta suburbs.  Adjacent to Home Depot.  84% leased.  84% leased.  NOI $238K/yr. $2.56M. 9.3% cap. 
  5. Single tenant Retail Center in Santa Maria, CA: 4860 SF retail center on .44 ac outparcel to Target about 30 minutes North of Santa Barbara.  10 yrs NNN lease to David’s Bridal, Inc. NOI $128K/yr. $2.06M. 6.25% cap. 
  6. Shopping Center in Phoenix, AZ: 66,413 SF 14-unit shopping center built in 1999 on 7.66 acres lot near I-15 on ramp.  Anchored by 31, 617 SF Big Lots.  90% leased.  NOI $435K/yr. $4.75M. 9.15% cap. 
  7. Office Building in Mountain View, CA: 24,790 SF 2-story office building on 1.3 ac lot about ½ mile from Google headquarters in high income Silicon Valley. 75% leased.  Proforma NOI $375K/yr. $5.08M. 7.4% cap.

© Transmercial 2011.

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