11-15: SunTrust, Walgreens, Shopping centers, Advance Auto, Medical Office Building, CVS

1. SunTrust Bank in Coconut Creek, FL: 4 yrs old bank on .78 ac lot across from upscale The Promenade at Coconut Creek center in well-off Miami suburbs. 17-yrs remaining on absolute NNN corp ground lease. NOI $275K/yr with 10% rent increases every 5-yrs. $3.999M. 6.88% cap. 
2. Walgreen’s in Holly Hill, FL: 13,662 SF pharmacy built in 1998 on 1.6 ac corner lot near I-95 North of Daytona Beach. 100% NNN- corp lease till 2018. NOI $267K/yr. $3.337M. 8% cap.  
3. Retail Center in Frisco, TX: 5200 SF retail center constructed in 2008 across from Wal-Mart and Kroger anchored centers in wealthy & growing Dallas suburbs. 100% NNN leased to 2-tenants: Massage Green & Advanced Family Eye Care. NOI $137K/yr. $1.6M. 8.58% cap.  
4. Shopping Center in Lewisville, TX: 29,079 SF high-quality constructed and well-maintained 2-building shopping center on 3+ acres of land. Shadow-anchored by Wal-Mart. Close to I-35E and in fast growing North of Dallas metro. 91% leased. Current NOI $370K/yr. $4.5M. 8.23% cap.  
5. Retail Center in Morristown, TN: 9948 SF retail center built in 2002 shadow anchored by Wal-Mart Supercenter, Hobby Lobby, Dollar Tree and Ross Dress for Less. Across from Walters State Community College. 100% leased to strong national and regional tenants. NOI $170K/yr. $2.5M. 8.30% cap.  
6. Advance Auto Parts (S&P BBB-) in Richmond, VA: 8075 SF relocated single-tenant retail store constructed in 2008 on .87 ac outparcel to Food Lion anchored center. NNN- corp lease till 2023. NOI $113K/yr with rental increases in each option term. $1.57M. 7.50% cap.  
7. Shopping Center in Orlando, FL: 32,538 SF newly constructed shopping center on 5.40 acres in densely populated area. Anchored by Planet Fitness Gym and shadow-anchored by Wal-Mart Supercenter. Near Universal Studios Orlando. 89% leased. NOI $415K/yr. $5.87M. 7.08% cap.  
8. Medical Building in Arroyo Grande, CA: 3750 SF single-tenant medical building next to Arroyo Grande Community Hospital in Southern California coastal city. 100% NNN leased. NOI $65K/yr. $860K. 7.67% cap. 
9. Retail Center in Reno, NV: 14,111 SF retail center built in 2008 between CVS Pharmacy and Fresh & Easy grocery store. Across from The Home Depot, Office Depot, Petco and Ross. 100% leased to national, regional & local tenants. NOI $394K/yr. $5.443M. 7.25% cap. 
10. CVS in Lakeland, FL: 12,772 SF CVS pharmacy built in 1999 at an intersection in affluent city (AHI $101K in 1 mile) between Tampa and Orlando. 100% corp NNN lease till 2019.  NOI $185K/yr with rent bumps in all 5-yr options.  Store sales of over $5.5M (low 3.4% rent to income ratio).  $2.5M. 7.3% cap.

© Transmercial 2011.