05-08: Centennial Fine Wine and Spirits, Fresenius, Cost Plus World Market, MOB, Retail centers

1. Centennial Fine Wine and Spirits in The Colony, TX: 10,000 SF liquor store built in 1999 on 1.36 acres lot at a hard corner of Hwy-121(87,670 CPD) in affluent Dallas suburbs (AHI $102K/yr in 3 miles). New 10 yr NNN lease to Centennial Fine Wine & Spirits with 52 stores in Texas. This is a sale lease back transaction so lease terms are negotiable. NOI $240K/yr with 10% rent bump in year 6. $3M. 8% cap.  
2. Centennial Fine Wine and Spirits in The Colony, TX: 5500 SF liquor store built in 1998 on 2/3 ac lot at a hard corner on Hwy-121(87K CPD) in affluent Dallas suburbs (AHI $117K/yr in 3 miles). New 10 yr NNN lease to Centennial Fine Wine & Spirits with 52 stores in Texas. This is a sale lease back transaction so lease terms are negotiable. NOI $137K/yr with 10% rent bump in year 6. $1.833M. 7.5% cap.  
3. Fresenius Medical Care in Chicago, IL: 12,650 SF dialysis center built in 1999 along I-90. 100% NNN- corp lease with 11 yrs left. High barrier of entry as IL is a certificate of need (CON) state. NOI $257K/yr with 10% rent increases every 5 yrs (next increase in 2017. $3.431M. 7.5% cap.  
4. Retail Center in Lawrenceville, GA: 16,000 SF attractive retail center at high traffic location and across from Publix Supermarket anchored center. In growing and upper middle-class Atlanta metro (AHI of $86K/yr). 86% leased to 8 tenants including: Sherwin William, AT&T, Firehouse Sub, Smoothie King, Scott Trade. NOI $279K/yr.  $2.65M. 10% cap. Upside potential. 
5. Shopping Center in Lynnwood, WA: 23,534 SF fully renovated shopping center on 1.93 ac lot at a signalized intersection of Hwy-99 in growing city just North of Seattle. Anchored by Starbucks and AutoZone. 94% leased. NOI $406K/yr. $5.75M. 7.07% cap.  
6. Shopping Center in Grove Heights, MN: 65,139 SF shopping center built in 2000 on nearly 7 acres of land anchored by a 56,202 SF Rainbow Foods. Next to Hwy-52 in Minneapolis suburbs. Good demographics: 33.60% population increase since 2000, AHI $90K/yr in 1 mile. 100% NNN leased to 5 tenants. NOI $621K/yr. $5.99M. 10.38% cap.  
7. Office Buildings in Houston, TX: 93,671 SF Class-B 3-story office buildings at prime retail location and next to Hwy-6 in upper middle class area. Anchored by Chase Bank (leased till 2023) and Harris County Hospital District (new 10 yrs lease). 87% leased. NOI $825K/yr. $9.435M. 8.75% cap. Price reduced. Buyer to assume $6.7M non-recourse loan at 6.32% interest rate.  
8. Strip Center in Pasco, WA: 12,552 SF strip center built in 2007 on 1.60 ac lot anchored by O’Reilly Auto Parts and UPS Store. In growing & well-off neighborhood. 100% leased. NOI $225K/yr. $3.01M. 7.50% cap.  
9. Cost Plus World Market in La Quinta, CA: 18,280 SF newly constructed retail building on 1.87 ac lot in affluent (AHI $132K/yr in 1 mile) Palm Springs metro. Part of a 600,000 SF Power Center anchored by Trader Joe’s, Lowe’s, Target, Stain Mart and Office Depot & across from 180,000 SF center anchored by Kohl’s, Petco, Ross and Stater Bros. 100% NNN- corp lease with 10 yrs left. NOI $421K/yr with a 10% rent increase in 2017. $6.017M. 7% cap. 
10. MOB in Charlotte, NC: 13,407 Class-A medical office building on 1.67 ac lot close to Park Road Shopping Center in prosperous (AHI $114K/yr in 3 mile) neighborhood. 90% leased. NOI $171K/yr. $1.95M. 8.82% cap.

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