01-09: Office Building, Shopping Centers, Golden Coral, Church's Chicken, Chipotle

1. Professional Office Building in Austin, TX: 75,422 SF 4-story modern office building with 4-level parking garage adjacent to Hwy 183 and Seton Northwest Hospital in high income & stable area (AHI $89K/yr in 1 mile). 94% leased.  NOI $991K/yr. $12M. 8.26% cap. 
2. Shopping Center in Antioch, CA: 20,635 SF shopping center on 2.1 acres lot with easy access to hwy 4 and close to Somersville Town Center mall in Northern CA. Anchored by O’Reilly Auto Parts.  80% leased with 1 vacant unit.  NOI $203K/yr.  $2.7M.  7.5% cap.  Upside potential when 100% leased. 
3. Retail Center in North Riverside, IL: 58,366 SF high-quality retail center in densely-populated Chicago metro with over 650K residents within 5 miles.  100% leased national tenants on a long term basis: Sports Authority, Bally Total Fitness, Chase Bank, and Boost Mobile.  NOI $666K/yr. $8.595M. 7.75% cap. 
4. Golden Coral restaurant in Indianapolis, IN: 10,205 SF restaurant on 1.91 acres outparcel to Washington Square Mall.  New 15 yrs NNN lease to Golden Coral’s largest franchisee with 36 Golden Coral units and 200 restaurants nationwide.  NOI $217K/yr with 8% rent bump every 5 yrs.  $2.713M. 8% cap. 
5. Church’s Chicken in Edinburg, TX: 3175 SF restaurant built in 2005 on .8 ac corner lot in fast growing and high income Allen metro. 20 yrs absolute NNN corp lease with 15 yrs left.  NOI $144K/yr with 12% rent bump every 5 yrs.  $1.85M. 7.81% cap. 
6. Chipotle in Greensboro, NC: 2533 SF Chipotle Mexican Grill restaurant built in 2005 on .95 ac  outparcel to Wendover Place anchored by Target, Kohl's, Pier 1 Imports, Dick's Sporting Goods, Wal-mart, PetSmart, Ross Dress For Less, and Michael's Arts & Crafts. 10 yrs absolute NNN corp lease with 5 yrs left to Chipotle (NYSE: CMG) with 1100 locations.  NOI $82K/yr.  $1.07M. 7.7% cap. 
7. Walgreens in Tucson, AZ: 15,525 SF Walgreens built in 1996 on 1.96 ac corner lot.  100% NNN- lease with 4 yrs left.  Store with over $6M in sales.  NOI $249K/yr.  $2.933M. 8.5% cap.  Buyer to assume $1.76M loan due in 2033.  Note: loan matures in 2033 indicates the lender is confident the tenant will stay beyond 2016. 
8. Shopping Center in Henderson, NV: 105,132 SF beautiful & well-kept Shopping center on 10.23 ac lot in expanding & high income Las Vegas metro.  Easy access to I-215.  Occupancy, NOI N/A.  $10.5M.  Less than $100/SF. 
9. Retail Center in Champagne, IL: 14,748 SF 6-unit retail center on 1.98 acres lot in affluent area with AHI $140K/yr in 1 mile.  84% NNN leased to 5 tenants with 1 avail unit.  Current NOI $211K/yr.  $2.35M. 9.2% cap.  Upside potential when fully leased.

© Transmercial 2012.