Friday, March 2, 2012

02-17: Longan's Roadhouse, REO'ed Retail center


  1. Logan’s Roadhouse in Warner Robins, GA: 8060 SF steakhouse restaurant on 2.19 ac lot across from Wal-Mart, Lowe’s and Home Depot in fast growing Atlanta metro. 100% NNN corp lease with 15-yrs remaining. NOI $204K/yr with annual rent increases of CPI capped at 1.75%. $2.922M. 7% cap.
  2. Bank-owned Retail Center in Aurora, IL: 23,403 SF retail center on 2.78 acres lot near 1.5 Million SF Westfield Fox Valley Mall.  Excellent demographics: fast growing Chicago suburbs with AHI of $102K/yr.   Current tenants include: highly rated Arabella Salon & Day Spa and Edible Arrangements. $2.49M.  Upside potential.
  3. Retail Center in Fresno, CA: 6000 SF newly constructed retail center shadow-anchored by Foods Co./CVS Pharmacy and across from Target. 100% NNN lease to 4 tenants: Payless shoes, GameStop, Pizza restaurant and Foodco Gas Depot (gas depot on 20 yrs ground lease). NOI $142K/yr. $2.195M. 6.5% cap.
  4. Strip Center in Anaheim, CA: 8280 SF well-kept strip center on .42 ac lot near Anaheim General Hospital and Disneyland. Densely populated area with over 650K residents in 5 miles. 100% leased to 5 tenants. NOI $86K/yr. $1.149M. 7.5% cap.
  5. Shopping Center in Boise, ID: 20,364 SF shopping center on 1.95 ac lot next to Boise Towne Square mall and I-184. 100% NNN lease to Petco, Lacrosse Shop and Chipotle Mexican Grill. NOI $286K/yr. $4.15M. 6.9% cap.
  6. Retail Center in Colorado Springs, CO: 10,700 SF retail center shadow-anchored by Albertson’s Grocery. Close to Memorial Hospital, Chapel Hills Mall and I-25. In affluent (AHI $108K/yr within 1-mile) neighborhood. 100% NNN leased to 5 tenants. NOI $206K/yr. $2.586M. 8% cap.
  7. Shopping Center in Allen, TX: 38,586 SF shopping center built in 2005 at a busy corner in fast growing & high income Dallas/Ft. Worth metro.  $3.895M. NOI/Cap not disclosed.
© Transmercial 2012

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