05-11: Jack in the Box, Surgery center, MOBs, Tire Plus, Retail centers

1. Jack in the Box in Baton Rouge, LA: 2867 SF JIB restaurant at a major intersection near 29,000 seat Ace Mumford stadium and Baton Rouge Southern University. 18 yrs absolute NNN corp lease with 8 yrs left.  NOI $156K/yr with 8% rent bumps every 5 yrs.  $1.958M. 8% cap. 
2. Surgery Center in Port Charlotte, FL: 33,589 SF medical office building completed in 2005 on 2.7 ac lot adjacent to 238-bed Fawcette Memorial Hospital and Peace River regional hospital.  100% NNN leased to Gulf Pointe Surgery Center and Sun Trust Bank. NOI $694K/yr. $8.66M. 8.02% cap. 
3. MOB in Coral Springs, FL: 10,065 SF single-tenant medical building on .65 ac lot across from  Coral Springs Medical Center. 100% leased to NW Heart & Health Specialists (a HCA Subsidiary). NOI $123K/yr with 3% annual rent increases. $1.45M. 8.55% cap. 
4. MOB in Santa Clarita, CA: 20,576 SF two-story recently upgraded medical building on 1.64 ac lot in high income area and next to Fwy-14. 100% NNN leased to Facey Medical Foundation, a medical group with 150 physicians in 10 locations. Tenant has been at this location 20+ yrs. NOI $800K/yr. $5M. 16% cap. 
5. Tires Plus Total Car Care in Warner Robins, GA: 10,769 SF care cared retail building on 1.30 ac lot across from Walgreen’s and near Houston Medical Center in fast growing Atlanta metro. 100% absolute NNN leased with 8+ yrs left. NOI $90K/yr. $1.13M. 8% cap. 
6. Retail Center in Fayetteville, NC: 17,319 SF well-maintained retail center next to busy throughway and close to Cape Fair Valley Medical Center. In growing and upper-middle class neighborhood. 100% leased. NOI $184K/yr. $1.75M. 10.55% cap. 
7. Strip Center in Venice, FL: 10,421 SF newly constructed strip center outparcel to Wal-Mart Supercenter at main retail corridor North of Cape Coral. 100% leased to national/regional tenants. NOI $239K/yr. $2.995M. 8% cap.  
8. Strip Center in West Jordan, UT: 7646 SF strip center built in 2007 at highly visible location in upper middle-class (AHI $92K/yr) Salt Lake City suburbs. 84% NNN leased. NOI $142K/yr. $1.495M. 9.53% cap.

© Transmercial 2012.