03-29: Burlington Coat, Rite Aid, Oil Changers, Sherwin William, Tuffy, MOB, Retail centers

1. Burlington Coat Factory in Santa Ana, CA: 58,450 SF single-tenant retail center remodeled in 2008 on 5.32 ac lot (with excess land for further development) just one mile from the prestigious South Coast Plaza Mall (mall with highest sales in the US).  100% absolute NNN corp lease to Burlington Coat Factory, a retail chain with 450 stores in 45 states.  NOI $1.066M. $14.222M. 7.5% cap. 
2. Rite Aid in Dayton, OH: 11,180 SF drug store built in 1998 on 1.23 acres at a hard corner.  20 yrs absolute NNN lease till 2018. NOI $241K/yr. $2.195M. 11% cap. 
3. Oil Changers in San Jose, CA: 3100 SF Oil Changers built in 1989 on .45 ac lot.  100% NNN lease till 2021 to Oil Changers with about 34 locations in CA.  Tenant has been here since 1990.  NOI $82K/yr.  $1.15M. 7.12% cap.  
4. Office Building in Sarasota, FL: 21,000 SF Class-A newly constructed build-to-suit office building on 2.40 ac lot close to Lakewood Ranch Medical Center and I-75.  Great demographics: 193.98% growth since 2000 & AHI $124K/yr in 1 mile.  Tenant houses sensitive electronic medical and financial data for large physician groups across the US. 100% NNN lease with 7 yrs left. NOI $405K/yr. $5.4M. 7.5% cap. 
5. Sherwin Williams in Springfield, IL: 5000 SF single-tenant retail building constructed in 2003 on .76 ac lot near White Oaks Mall. 100% NNN lease to Sherwin Williams Paint (S&P A). NOI $95K/yr with a rent increase in 2014. $1.315M. 7.25% cap. 
6. Tuffy Auto in Port Saint Lucie, FL: 3960 SF six-bays auto service center built in 2003 along Hwy-716 in fast growing city. 100% NNN lease with 6 yrs left. NOI $105K/yr. $1.17M. 9% cap. 
7. Retail Center in Mesquite, TX: 49,125 SF retail center renovated in 2004 on 4.48 acres lot next to Town East Mall and I-635. In growing middle-class Dallas metro. 100% NNN leased to 3 tenants: Sears Outlet, K&K Fashion, and Chicken Express (on a separate free-standing building). NOI $437K/yr. $5.305M. 8% cap. 
8. Medical Office Building in Altoona, IA: 15,778 SF Class-A single tenant medical office building on 1.93 ac lot in Des Moines suburbs. 100% NNN leased to Iowa Health Family Care Center.  NOI $269K/yr. Price/NOI not disclosed.  
9. Strip Center in Upland, CA: 10,800 SF well-maintained 6-unit strip center on nearly 1 ac lot at a hard corner location in growing San Bernardino County. Shadow anchored by 24-Hr Fitness.  86% leased with 1 avail unit. NOI $157K/yr. $2M. 7.86% cap. 
10. Shopping Center in Atlantic Beach, FL: 58,067 SF shopping center on 4.31 ac lot at a hard corner in affluent Jacksonville suburbs.  . Good tenant mix with established businesses. 100% NNN leased. NOI $453K/yr. $5.5M. 8.25% cap.

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