Tuesday, April 24, 2012

04-10: Burger King, Anchored Shopping Centers


  1. Retail Center in Lufkin, TX: 18,638 SF retail center built in 2006 on 2.33 ac lot shadow anchored by Walmart Supercenter and Sam’s Club. 100% NNN lease to national/local tenants. NOI $329K/yr. $3.987M. 8.25% cap. 
  2. Strip Center in Richmond, TX: 16,064 SF attractive strip center on 2.24 acres lot between Walgreens and Sonic. Next to Hwy-90 in growing city just North of Houston. Tenants include: Anytime Fitness, Richmond Dental, Elaine Nails & Spa, Pediatric, Physical Therapy and Donut shop. 100% NNN leased. NOI $232K/yr. $2.65M. 8.77% cap. 
  3. Strip Center in Chesterfield Township, MI: 8858 SF newly constructed strip center anchored by 7-Eleven at a signalized intersection & across from CVS Pharmacy. All tenants facing main road. In growing middle-class Sterling Heights suburbs. 100% NNN leased. NOI $185K/yr. $2.315M. 8% cap. 
  4. Burger King in Saint Paul, MN: 2275 SF Burger King on .84 ac lot adjacent to United Hospital and I-35. 100% NNN lease with 13 yrs left to 2nd largest BK franchisee. NOI $92K/yr with 1.75%l rent increases every 2 yrs and 8% of sales percentage rent clause. $1.233M. 7.5% cap.  
  5. Shopping Center in Lutz, FL: 24,900 SF shopping center between Walmart Supercenter and Target Supercenter. Along busy retail corridor and next to I-275. In affluent Tampa suburbs . 100% NNN leased. NOI $531K/yr. $6.4M. 8.30% cap.  
  6. Shopping Center in Austin, TX: 30,873 SF 5 yr old shopping center on 5 acres of land in fast growing (114.18% since 2000) and affluent (AHI $154K/yr in 1 mile) neighborhood. 96% NNN leased. NOI $742K/yr. $9.95M. 7.46% cap. Upside potential.  
  7. Neighborhood Center in Riverdale, FL: 125,385 SF shopping center anchored by a recently renovated Kroger grocery store and a recently added Kroger fuel station. In growing Atlanta metro. 91% NNN leased. NOI $1.239M. $ 15.4M. 8.05% cap.  
  8. Bankruptcy sale of Shopping Center in Sanford, FL: 38,000 SF upscale constructed shopping center built in 2008 at a signalized intersection of State Road 46. Close to Seminole Towne Center and I-4 just North of Orlando. 62% lease to 16 tenants. NOI $405K/yr. 7.5% cap.  
  9. Retail Center in Indianapolis, IN: 18,300 SF inline retail center anchored by Dollar General at a signalized intersection. 100% NNN leased. NOI $114K/yr. $1.275M. 9% cap.
© Transmercial 2012
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