02-24: 24 Hour Fitness, REO'ed Center, Meridian Behavioral Center, Regional Power Center, MOB

1. 24 Hour Fitness in Fort Worth, TX: 37,500 SF fitness center built in 2088 adjacent to 300,000 SF power center anchored by Starplex Cinemas. Next to I-820 in fast growing and middle-class area. NNN- corp lease till 2024. NOI $750K/yr with 12.5% rent increases every 5 years. $8.333M. 9% cap. 
2. Bank-owned Shopping Center in Houston, TX: 22,350 SF high-quality construction shopping center built in 2004 next to Hwy-6. Current tenants include: Goodwill, Chinese Restaurant, US Armed Forces, Vietnamese Restaurant, First Cash Skin Y Nail Retreat, Orthodontist and cleaners. Excellent visibility with all units facing Hwy-6.  86% NNN leased. NOI $346K/yr. $3.15M. 11% cap. Upside potential. 
3. Shopping Center in Canton, OH: 19,420 SF shopping center on 2.52 ac lot anchored by Dollar Tree next to 800,000 SF Westfield Belden Village Mall and I-77. 100% leased to strong national/regional tenants. NOI $220K/yr. $2.45M. 9.15% cap. 
4. Shopping Center in Lemon Grove, CA: 19,000 SF well-maintained shopping center on 1.50 ac lot anchored by 7-Eleven. In densely populated Southern California City with 500K residents in 5 miles. 82% leased to great mix of tenants. NOI $173K/yr. $2.15M. 8% Pro forma cap. Partnership dissolving. 
5. Neighborhood Center in Oswego, IL: 36,000 SF center on a corner lot surrounded by big box retailers: Target, Office Max, Petco along Hwy-34. High growth (67% since 2000), high income (AHI $91K/yr in 1 mile) Chicago suburbs.  NOI $344K/yr. $4.15M. 8.3% cap. 
6. Meridian Behavioral Heath in Saint Paul, MN: 33,393 SF renovated medical office building on 2+ ac lot. 100% absolute NNN corp lease with 16 yrs remaining to Meridian Behavioral Health LLC, a behavioral health and chemical dependency treatment provider.  NOI $286K/yr. $3.18M. 9% cap. 
7. Regional Power Center in Louisville, KY: 206,979 SF renovated regional power center on 13.69 acres lot with frontage on Hwy-60/31W. 96% NNN leased. NOI $783K/yr. $8.7M. 9% cap.  Just $42/SF! 
8. Medical Office in Sylvania, OH: 2990 SF medical office built in 2002 on .53 ac lot in high income Toledo metro. Close to 223-bed Flower Hospital and Hwy-23/223. 100% NNN corp lease to Affordable Dentures, a national tenant. NOI $75K/yr with CPI increases in 2013 & 2018. $942K. 8% cap. Tenant has been here since 2002. 
9. Shopping Center in Suwannee, GA: 20,600 SF beautiful shopping center on 2.5 ac lot in fast growing (93% since 2000) and affluent (AHI $105K/yr in 1 mile) Atlanta metro. 90% leased to FedEx Kinko, Hair Salon, Dentist, Bakery, Subway, etc.  Sold in 2007 for $5M.  NOI not avail.  $3.9M.

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