Friday, December 30, 2011

12-16: REO Shopping Center, Medical Building, Cash Amercia, Aaron


  1. REO Shopping Center in Glendale, AZ: 52,247 SF shopping center consisting of four retail buildings across from Wal-Mart/ Sum’s Club anchored center and next to Fwy-101. Close to Peoria Stadium and Arrowhead Towne Center in Phoenix suburbs. 75% leased. $6.8M. 
  2. Retail Center in Pearland, TX: 7594 SF in-line retail center renovated in 1998 on .59 ac lot close to Hwy-288. In fast growing and well-off (AHI $101K/yr within 3-miles radius) Houston metro. 87% NNN leased. NOI $85K/yr. $1.3M. 6.6% cap. 
  3. Strip Center in Tampa, FL: 7838 SF well-maintained strip center built in 2008 next to main thoroughfare and close to Target, Office Depot and Lowe’s. $1.15M. NOI/Cap not provided.  
  4. Medical Building in Riverdale, GA: 12,256 SF well –maintained multi-tenant medical building anchored by DaVita close to Southern Regional Medical Center in Atlanta outskirts. 100% NNN leased to three tenants: DaVita, Hearing Doctors of GA and Southside Medical Center. NOI $174K/yr. $1.833M. 9.5% cap.  
  5. Cash America in El Paso, TX: 5000 SF newly constructed single-tenant retail building on .96 ac lot adjacent to Wal-Mart & Lowe’s and along main corridor.  Absolute NNN lease (NYSE: CSH). NOI $100K/yr w/10% increases every 5-yrs. $1.3M. 7.75% cap.  
  6. Aaron’s in Springfield, OR: 8500 SF single-tenant building on .69 ac lot across from WinCo Foods and near Hwy-126. NNN leased till 2026. NOI $110K/yr. $1.58M. 7% cap.

© Transmercial 2011

Thursday, December 29, 2011

12-15: Carl's Jr, Starbucks, MOB, Hospital, Office building, Shopping Center, Walgreens


  1. Carl’s Jr in Graham, OR: 2884 SF Carl’s Jr built in 2008 on .6 ac in Portland metro.  100% absolute NNN ground lease (land is for sale) with 18 yrs left  to an operator with 13 units.  NOI $130K/yr with 10% rent bump every 5 yrs.  $1.85M. 7% cap. 
  2. Starbucks in Ogden, UT: 1813 SF Starbucks built in 2007 on .38 ac lot in Salt Lake City suburbs.  10 yrs NNN- corp lease with 5.5 yrs left.  NOI $93K/yr. in Aug 2012.  $1.2M. 7.81% cap. 
  3. Medical Office Building in Pasadena, TX: 51,316 SF multi-tenant attractive class-A medical office building on 4.68 acres lot at an intersection of 2 major arteries in fast growing and high income Houston metro.  Easy access to Sam Houston tollway and 1.8 miles 359 bed HCA Bayshore Medical Center. 81% leased with current NOI $706K/yr. $8.8M. 8.03% cap.  Upside potential when fully leased. 
  4. Emergency Hospital in San Antonio, TX: 28,355 SF full-service 24/7 emergency hospital renovated in 2011 in high income Northern San Antonio.  New 12 yrs NNN lease.  NOI $720K/yr with 10% rent bump every 5 yrs. $9M. 8% cap. 
  5. Buffet Restaurant in Phoenix, AZ: 8473 SF Chinese buffet restaurant on 1.29 ac lot on a major artery.  100% NNN lease till 2018.  Tenant has been here since 2003. NOI $113K/yr. with generous 3% annual rent bump. $1.38M. 8.25% cap. 
  6. Office Building in Aptos, CA: 2793 SF office building on .44 ac lot in affluent coastal Santa Cruz metro in Northern CA.  100% leased to 2 tenants: Fitness Prescription and American Medical Response.  NOI N/A.  Just $823K. 
  7. Wendy’s in Spring Hill, FL: 2959 SF Wendy’s restaurant built in 2003 on 1.12 ac lot in Tampa suburbs.  15 yrs absolute NNN corp ground lease (land is for sale, tenant owns the building) with 7 yrs left.  NOI $69K/yr with 10% rent bump every 5 yrs (next on in 2013).  $1.091M. 6.35% cap now and 7% cap in 2013. 
  8. Shopping Center in Houston, TX: 23,875 SF shopping center built in 2009 with easy access to Sam Houston tollway.  87% NNN leased.  Tenants include Western Union, State Farm, WIC, Colbert Ball Tax Service, Dazzles Hair Salon, Casa de Villa Mexican Restaurant, 249 Sports Grill, Subway, EZ Mobile, Kid's Nutrition.  NOI $333K/yr. $3.95M. 8.65% cap. 
  9. Walgreens in Rosedale, MD: 15,120 SF Walgreens on 2 ac lot in high income Baltimore suburbs. 20 yrs NNN- with 11 yrs left.  NOI $404K/yr. $5.75M. 7.1% cap. 
  10. Shopping Center in Elizabeth City, NC: 96,416 SF well-maintained shopping center built in 1992.  Anchored by Farm Fresh Supermarket and Big Lots with long term leases with 2 anchored tenants contribute 89% of rental income.  99% leased.  NOI $512K/yr. $6.5M. 7.88% cap.  Assumable debt.

© Transmercial 2011.

Wednesday, December 28, 2011

12-14: Office Depot, Burger King, Shopping center, Daycare center, Office building


  1. Office Depot in Chicago, IL: 24,526 SF Office Depot adjacent to Jewel-Osco Grocery in densely-populated and affluent area (AHI $129K/yr in 1 mile).  10 yrs NNN corp lease with 7 yrs left.  NOI $535K/yr with 10% rent bump in Sept 2013. $7.143M. 7.5% cap.
  2.  Office Building in San Jose, CA: 8000 SF 2-story office building on .55 ac lot next to Hwy 101 with easy access to I-880.  Near San Jose airport.  Ideal for user owner. $1.575M. 
  3. Office Building in Southlake, TX: 20,616 SF 6-yrs old office building on 1 ac lot in richest zip code in TX (AHI $222K/yr in 1 mile,).  100% lease.  NOI $437K/yr. $5.25M. 8.33% cap. 
  4. Burger King in Bakersfield, CA: 3128 SF Burger King on 1.18 ac lot near Hwy 178 exit.  New 20 yrs NNN lease to a franchisee with 5 units.  NOI $78K/yr with 8% rent bump every 5 yrs.  $1.25M. 6% cap. 
  5. Daycare Center in Newport News, VA: 11,000 SF build-to-suit childcare center completed in 2010 on 5.19 ac lot in high income area. 15 yrs NNN corp lease to The Learning Experience, a national childcare provider.  NOI $242K/yr with 12% rent bump every 5 yrs.  $3.125M. 7.75% cap. 
  6. Shopping Center in Pearland, TX: 20,452 SF 2-building shopping center on 3 ac lot in fast growing (123% from 2000-2011) and affluent (AHI $140K/yr in 1 mile) Houston suburbs.  100% NNN leased to 8 tenants.  NOI $408K/yr.  $5M. 8.16% cap.

© Transmercial 2011

Tuesday, December 27, 2011

12-13: Office Buildings, Retail Center


  1. Office Building in Southlake, TX: 8890 SF single-tenant office building in #1 most affluent suburbs in 2008 by Forbes.com (AHI $223K/yr in 1 mile) in Dallas metro.  100% leased.  NOI $177K/yr.  $1.9M. 9.36% cap. 
  2. Office building in Stow, OH: 38,240 SF 2-yrs old single-tenant 2-story class-A office building in growing and high income Akron metro.  10 yrs absolute NNN lease with 9 yrs left to JDC, a law firm providing complete creditor representation.  NOI $573K/yr. with generous 5% annual rent bump starting from 2014.  $6M. 9.55% cap. 
  3. Shopping Center in Antioch, CA: 20,635 SF shopping center on 2.1 ac lot across from Somersville Towne Center Mall near Hwy 4 in San Francisco metro. NOI $202K/yr. (pro form $275K/yr).  $2.7M. 10.2% pro forma cap. 
  4. Office Building in Humble, TX: 9800 SF office building in Houston suburbs.  98% occupied.  NOI $73K/yr.  $825K.  9% cap.

© Transmercial 2011

12-12: Schlotzsky's Deli, Shopping Centers, Medical Office Buildings


  1. Schlotzsky’s Deli in Aurora, CO: 2730 SF Schlotzsky’s Deli built in 1999 on ½ ac outparcel to 466,363 SF power center anchored by King Soopers, Old Navy, Marshalls, Ross, and an AMC Theaters.  Fast growing (168% since 2000) and affluent (AHI $154K/yr) Denver suburbs.  10 yrs NNN lease with 7.5 yrs left.  NOI $90K/yr with 5% rent bump every 5 yrs.  $1M. 9% cap.
  2. Retail Center in Los Angeles, CA: 12,220 SF retail center remodeled in 2001 in densely populated area with over 1M residents in 5 miles.  100% leased to 2 national tenants: O’Reilly Auto Parts and Sherwin William Paints (S&P rating of A).  NOI $288K/yr with 12% rent bumps every 5 yrs from both tenants.  $4.4M. 6.5% cap. 
  3. Retail Plaza in Salem, OR: 10,298 SF 7-unit retail plaza built in 2006 with easy access to I-5 in a growing area.  Across from Shopko and Winco Foods.  NOI $235K/yr. $2.45M. 9.59% cap. 
  4. Shopping Center in Palmdale, CA: 104,811 SF shopping center built in 1994 on 9.76 acres next to Hwy 14 exit in fast growing city in Los Angeles.  Anchored by Michael’s, Bevmo, and Ashley Furniture.  100% NNN lease to 12 tenants.  NOI $1.513M. $19.25M. 7.9% cap. 
  5. Shopping Center in Palmdale, CA: 15,250 SF shopping center as part of a power center anchored by Target, Lowes, Staples, Best Buy, Barnes & Nobles, Ross, TJ Maxx, Trader Joes and more.  100% NNN leased to 6 tenants: 5 of them national/regional.  NOI $491K/yr.  $6.2M. 8.2% cap. 
  6. REO’ed Shopping Center in Vista, CA: 29,106 SF multi-tenant bank-owned shopping center on 2.43 ac corner lot in growing San Diego suburbs.  41% NNN leased to 7 tenants.  Priced below replacement cost.  Pro forma NOI $370K.  $2.8M. $13.2% cap. Just $96/SF.  Strong upside potential! 
  7. Medical Office Building in Big Bear Lake, CA: 23,840 SF 2-story office building on 1.81 ac lot in a Ski resort town.  NOI $281K/yr.  $3.75M. 7.5% cap.  Seller financing available. 
  8. Medical Office Building in Roseville, MI: single-tenant state-of-the-art medical office building completed in 2008 on .7 ac lot in Detroit metro with now highly-profitable auto industry.  10 yrs NNN lease till 2018 to McLaren Health Systems, a large hospital group with $4 billion  in revenue.  NOI $145K/yr. $1.6M. 9.07% cap.

© Transmercial 2011