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

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