Monday, April 23, 2012

04-09: Burger King, Jiffy Lube, Fresenius, Office Building, Shopping Centers


  1.  Burger King in Palatine, IL: 2250 SF Burger King restaurant across from Arlington Racetrack and near Alexian Brothers Healthcare Systems. On main retail corridor and near I-90/290. 20 yrs absolute NNN lease with 5+ yrs left to the 3rd largest Burger King operator. NOI $76K/yr. $904K. 8.5% cap.  
  2. Shopping Center in Cincinnati, OH: 51,015 SF nearly completely renovated shopping center on 4.78 ac lot. Anchored by a 20,039 SF O’Reilly Auto Parts center (both retail & distribution center).  Near 1.3M SF Tri-County Mall. 100% leased to 3 tenants: Oreillys, Family Dollar, and Merchant’s Mart. NOI $276K/yr. $2.95M. 9.37% cap.  
  3. Retail Center in Brooklyn Park, MN: 18,000 SF attractive retail center built in 2009 on 1.7 ac lot at a signalized corner in Minneapolis suburbs. Great demographics: AHI $99K/yr within 1 mile. 80% leased. NOI $213K/yr. $2.2M. 9.70% cap.  
  4. Jiffy Lube in Northglenn, CO: 4073 SF auto center built in 2004 pm .48 ac lot close to a Super Target anchored center and near I-25 exit. In fast growing and middle-class Denver metro. 100% NNN lease with 12½ yrs left. NOI $92K/yr with a 10% rent increase in 2015. $1.232M. 7.5% cap.
  5. Fresenius in Muncie, IN: 12,111 SF class-A dialysis center built in 2008 on 1.11 ac corner lot. Excellent frontage along main road. 100% NNN- lease with 12 yrs left. NOI $279K/yr with 10 rent bump in 2019 and every 6 yrs thereafter. Buyer to assume $1.9M at 6.75% interest rate. 
  6. Retail Center in Sacramento, CA: 44,684 SF retail center consisting of two buildings: 20,604 SF 100% leased free-standing building and 24,080 SF 72% leased multi-tenant retail building. Across from Florin Town Center. NOI $477K/yr. $5.305M. 9% cap.  
  7. Shopping Center in Tampa, FL: 42,274 SF shopping center anchored by a recently renovated Sav-A-Lot grocery store, a supermarket chain with 1250 stores in the US and $4B in sales. At a signalized intersection in a densely retail corridor. 100% leased. NOI $371K/yr. $4.125M. 9% cap. 
  8. Office Building in South San Francisco, CA: 38,648 SF office buildings consisting of two buildings on 1.86 ac lot. Close to San Francisco International Airport. 77% leased. NOI $361K/yr. $4.75M. 7.5% cap. 
  9. Shopping Center in Pueblo, CO: 22,744 SF shopping center shadow-anchored by Albertsons next to Lowe’s anchored center. At a corner lot location next to W US-50. Tenants include: Starbucks, AutoZone, Great Clips, Check into Cash and Papa Murphy’s.  NOI $351K/yr. $4.68M. 7.5% cap.  
  10. Retail Center in Gurnee, IL: 19,800 SF retail center at the entrance to Six Flags Great America and near I-94. In high (AHI $100K/yr in 1 mile) income Chicago metro. 100% leased to 3 tenants. NOI $287K/yr. $2.85M. 10% cap.
© Transmercial 2012
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