Monday, November 14, 2011

10-31: O'Reilly, Jack in the Box, Firestone, Burger King, Walgreen's


  1. O’Reilly in Los Angeles, CA: 7735 SF auto parts store (S&P BBB-) remodeled in 2005 & shadow-anchored by Rite Aid in a densely populated area. NNN- leased till 2015. NOI $105K/yr. 3-5yr options to renew each with a generous 10% rent increase. $1.42M. 7.5% cap.\
  2. Shopping Center in Anthem, AZ: 42,679 SF newly constructed shopping center anchored by Tutor Time at a busy intersection and near I-17.  In growing (593.57%) and well off (AHI $91K/yr) North of Phoenix. 65% leased. NOI $582K/yr. $8.2M.  7.10% actual cap. Upside potential.  
  3. Jack in the Box in San Jacinto, CA: 2654 SF 4-yrs old fast food restaurant on .68 ac lot with excellent visibility outparcel to Fresh & Easy and Walgreens in growing Riverside. 100% absolute NNN ground lease with 15 yrs left to a very experienced franchisee. NOI $82K/yr with 10% rent increases every 5-yrs. $1.4M. 5.90% cap. 
  4. Retail Center in Jacksonville, FL: 10,400 SF well-maintained strip center built in 2002 on 1.03 ac lot adjacent to Publix Supermarket anchored shopping center. 100% leased. NOI N/A. $1.5M. 
  5. Strip Center in Corpus Christi, TX: 16,554 SF strip center built in 2007 with excellent visibility. 93% NNN leased by great tenant mix:  Dollar General, Insurance, Heavenly Design, Water Filtration and Jewelers. NOI $132K/yr. $1.395M. 9.5% cap.  
  6. Firestone in Urbandale, IA: brand new 8473 SF auto care center on 1.34 ac lot across from Super Target and The Home Depot in affluent Des Moines suburbs (AHI $173K/yr in 1 mile). New 15-year NNN lease. NOI $204K/yr. $2.861M. 7.15% cap.  
  7. Retail/Office Center in Kissimmee, FL: 19,200 SF center remodeled in 2008 close to Hwy-17/441 in Orlando metro. 90% leased. $1.6M.  
  8. Burger King in Oshkosh, WI: 3664 SF soon to remodel fast-food restaurant near University of Wisconsin-Oshkosh. New 20-year NNN lease to an operator with 26 units. NOI $114K/yr with 7.5% rent bumps every 5-yrs. $1.586M. 7.25% cap.  Tenant will spend $325,000 for remodeling after closing. 
  9. Strip Center in Barstow, CA: 7094 SF strip center on .66 ac lot shadow-anchored by Starter Brothers Grocery next to I-15 in Los Angeles suburbs. 100% NNN leased. NOI $90K/yr. $1.127M. 8% Cap. 
  10. Walgreens in Orange Park, FL: 13,905 SF pharmacy across from Wal-Mart at a signalized corner location in fast growing & wealthy Jacksonville metro (AHI $92K/yr in 1 mile). 100% NNN lease with 6 yrs left. NOI $247K/yr. $3.57M. 7.07% cap.
© Transmercial 2011

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