03-12: Gold's Gym, Jiffy Lube, Family Dollar, Walgreen's, David's Bridal, VA Clinic, REO Retail Center

1. Gold’s Gym in Richland, WA: 56,700 SF health and fitness center on 6.79 ac lot adjacent to The Home Depot and across from Wal-Mart Supercenter. New 15-yrs absolute NNN lease with personal & franchise guarantee. NOI $793K/yr with 1% annual rent increases. $9.339M. 8.50% cap.
2. Jiffy Lube in Plano, TX: 4155 SF auto maintenance building constructed in 2007 on .95 ac lot across Wal-Mart Supercenter and along busy corridor in affluent Dallas suburbs. 20 yrs absolute NNN lease with 15 yrs left to 3^rd largest franchisee in US. NOI $105K/yr with 10% rent increases every 5 yrs. $1.363M. 7.75% cap.
3. Family Dollar in Decatur, GA: 9180 SF recently constructed retail store on .87 ac lot at a signalized recently widened thoroughfare in Atlanta suburbs. 100% NNN- corp lease till 2021. NOI $117K/yr. $1.45M. 8.11% cap.
4. Family Dollar (S&P BBB-) in Atlanta, GA: 9100 SF retail store built in 2007 on .92 ac lot across from CVS Pharmacy and next to I-20. Strong performing store. 100% NNN- corp lease with 9 yrs left. NOI $91K/yr. $1.13M. 8.05% cap.
5. Walgreen’s in Fresno, CA: 15,120 SF double drive-thru Walgreen’s on  1.35 acres lot close to Kaiser Permanente Fresno Med Ctr/Fresno Heart & Surgical Hospital and Hwy-41. 100% NNN- corp lease with 14 yrs left. NOI $359K/yr. with rare 7% rent bumps every 10 yrs. $5.536M. 6.5% cap.
6. Neighborhood Center in San Antonio, TX: 41,470 SF shopping center built in 2004 on 3.98 acres lot near North Central Baptist Hospital and Club at Sonterra in one of the most affluent (AHI $121K/yr) neighborhoods. 84% leased. NOI $595K/yr. $7.5M. 7.94% cap.
7. Office Building in Haddon Heights, NJ: 31,797 SF Class B multi-tenant office building next to I-295 in Philadelphia metro. 100% lease to LabCorp, Lourdes Heath System, Global Account Recovery and American Water Works. NOI $388K/yr. $4.8M. 8.10% cap.
8. David’s Bridal in Victorville, CA: 14,120 SF retail building constructed in 2004 on 1.80 ac lot across from Mall of Victor Valley and next to I-15 in Los Angeles suburbs. 100% NNN leased. NOI $302K/yr. $2.999M. 10.08% cap.
9. VA Clinic in The Villages, FL: 89,837 SF build-to-suit single-tenant medical office building completed in 2010 on 9.41 ac lot adjacent to a Publix-anchored center. A regional health care facility, providing primary care, specialty care and mental health service. 20-yr NNN lease to U.S. Department of Veterans Affairs. NOI $1.320M/yr. $16M. 8.25% cap.
10. REO Retail Center in Las Vegas, NV: 11,520 SF well-maintained retail center built in 1997 on 1+ ac lot with excellent visibility along busy retail corridor. 60% leased. NOI $108K/yr. $1.15M. 9.45% Proforma cap. 

© Transmercial 2012.