01-25: Advance Auto Parts, Walgreen's, Retail Centers, Office Building

Announcement: Transmercial will begin offering tenant representation service starting from today.  As you may know, occupancy costs represent a big chunk of expenses for any businesses.  As a tenant representative, Transmercial hopes to use its knowledge about the market to negotiate with the landlords for the lowest rental rate and most favorable terms.  For new leases, the brokerage fee is normally paid by the landlords.  For lease renewals, our fee is contingent on the money you save and hence no savings, no fees!  And so, you have nothing to lose.  To avoid conflict of interest, Transmercial will only represent either landlord or tenant for a property.  This means If we already represent the landlord as the property manager, we cannot also represent the tenants.

To understand why you need a tenant representative, see the attached “Why Use A Tenant Representative” article.

1.  Advance Auto Parts in Theodor, AL: 6783 SF retail building constructed in 2006 on 1.02 ac outparcel.  Shadow-anchored by Food World supermarket and near I-10 in Mobile suburbs. 100% NNN- leased till 2021 with  landlord responsible for only the structure. NOI $84K/yr. $1.212M. 7% cap.  
2. Office Building in Lutz, FL: 11,500 SF Class-B newly constructed office building next to Hwy-54 in middle-class Tampa suburbs. 100% NNN leased to 3 tenants. NOI $171K/yr. $1.9M. 9% cap.  
3. Retail Building in Antioch, CA: 7008 SF retail building with national tenants: Chase & Jamba Juice.  Shadow-anchored by high-volume Safeway at dominant hard corner location. 100% leased. NOI $290K/yr. with Chase paying 78% of the total.  $4.155M. 7% cap.  
4. Strip Center in Lewis Center, OH: 6890 SF high-quality construction strip center on 1.52 acres in growing and wealthy (AHI $105K/yr) Columbus metro. Across from Michaels and Marshals with excellent visibility from Hwy-23. 100% NNN leased to 4 tenants, 3 of them national: Starbucks, Verizon and Pizza Hut. NOI $184K/yr. $2.242M. 8.25% cap. 
5. Shopping Center in Fairlawn, OH: 41,768 SF shopping center across from 770,000 SF Summit Mall and near I-77.  In affluent (AHI $97K/yr) Akron suburbs. 94% NNN leased. NOI $544K/yr. $5.621M. 9.50% cap.   
6. Strip Center in Long Beach, CA: 5760 SF strip center built in 2004 on .43 ac lot at hard corner location in densely populated Los Angeles area.  Across from Trader Joe’s anchored center. 77% NNN leased to 3 tenants with 1 avail unit. Proforma NOI $198K/yr. $2.51M. 7.9% cap.  
7. Neighborhood Center in Tulsa, OK: 104,113 SF shopping center anchored by 45,000 SF Sky Fitness in upscale (AHI $148K/yr. within 1 mile) neighborhood. 92% NNN leased. NOI $646K/yr. $8.78M. 8% cap.  
8. Walgreen’s in Cape Coral, FL: 15,900 SF pharmacy built in 1999 on 1.81 ac hard corner lot across from Publix anchored center in affluent Fort Myers metro. Great location in area with high barrier to entry. 100% NNN lease. NOI $300K/yr. $4M. 7.50% cap.  
9. Retail Center in Southaven, MS: 13,200 SF 5-yrs old retail center adjacent to Southaven Towne Center and South Lake Centre in Memphis suburbs. 100% NNN leased. NOI $225K/yr. $2.65M. 8.50% cap.

© Transmercial 2012