01-23: Burger King, The Learning Experience, MOB, Shopping centers

Welcome new investors.  Each property has a brief description and a flyer (attached).  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties between $700K-$20M on the market today (please advise if you are interested in properties above $20M).  Underlined names if any indicate safe hyperlinks that you can click for more info.

For a full marketing brochure, please forward the email to maria@transmercial.com and specify the property number.  We may ask you for feedback later for the listing broker.  If so, please cooperate.

• AHI: Avg. Household Income.  National average is about $50+K/yr.
• NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.
• NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.
• NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1. The Learning Experience in Sterling Heights, MI: 11,025 SF build-to-suit corporately-managed daycare center completed in 2007 close to Lakeside Mall in Detroit suburbs. 10+yrs NNN- lease to a national childcare provider. NOI $264K/yr. with 12% rent bump in year 11.  $2.648M. 10% cap.  Note: Detroit now has a profitable & competitive auto industry. 
2. Burger King in San Antonio, TX: 2878 SF fast-food restaurant on .63 ac lot near main highway in fast growing middle class area. Absolute NNN lease with 17 yrs left to an operator with 20 units. NOI $118K/yr. $1.63M. 7.30% cap.  
3. Retail Center in Arlington, TX: 2-years old 11,012 SF high-quality construction retail center on 1.23 acres across from Fry’s Electronics and next to I-20. In middle-class (AHI $72K/yr) Dallas/Fort Worth metro. 100% NNN leased to strong tenants. NOI $202K/yr. $2.625M. 7.70% cap.  
4. Medical Office Building in Casa Grande, AZ: 19,059 SF well-maintained 8-suite medical office buildings with excellent tenant mix and in growing suburbs just South of Phoenix. 92% NNN leased to 7 medical/dental tenants with 1 avail suite. Pro forma NOI $291K/yr. $3.236M. 9% cap.  
5. Shopping Pavilion in Elk Grove, CA: 70,554 SF shopping pavilion completed in 2000 on 6.57 ac lot at the intersection of 2 major arteries.  In fast growing middle class Sacramento metro.  100% NNN leased to 17 tenants: 62% of them national or regional.  NOI $1.423M. $18.975M. 7.5% cap. 
6. Strip Center in Auburn Hills, MI: 9665 SF  strip center built in 2005 at the entrance of 180-store 1.4MM SF Great Lakes Crossing Outlets Mall and next to I-75 in Detroit suburbs. 100% NNN leased. NOI $363K/yr. $3.575M. 10.17% cap.  Note: GM, Chrysler and Ford in Detroit are now  profitable & competitive. 
7. Strip Center in Richmond, VA: 5400 SF strip center as part of power center anchored by Target and Kohl’s. High income area with AHI $102K/yr in 3 miles. 100% NNN lease with 6 yrs left to Lane Bryant, a plus size fashion retailer. NOI $140K/yr. $1.478M. 9.5% cap.  
8. Shopping Center in Midland, TX: 22,052 SF shopping center built in 2005 on 2.42 ac lot in high income oil town (AHI $107K/yr). Excellent location: across from Wal-mart and visible from Loop 250.  100% NNN leased to 13 tenants. NOI $464K/yr. $5.8M. 8% cap.  
9. Shopping Center in Homestead, FL: 32,000 SF shopping center built in 2008 at Hwy-1 corner location and in fast growing South Miami suburbs. 100% leased. NOI $385K/yr. $5.5M. 7% cap. 
10. Shopping Center in Moreno Valley, CA: 32,599 SF shopping center on over 3 acres of land next to Fwy-60 in a growing area. Anchored by 12,000 SF Maaco Collision Repair & Auto Painting. 100% leased to 7 tenants. NOI $316K/yr. $3.95M. 8% cap. 

© Transmercial 2012.