Tuesday, May 29, 2012

05-15: Rite Aid, Walgreens, Burger King, MOB, Retail centers


  1. Rite Aid in Lawrenceville, GA: 10,594 SF drive-thru Rite Aid built in 1996 on 1+ ac lot at signalized corner location in fast growing Atlanta suburbs. 100% absolute NNN corp lease with 4½ yrs left. NOI $201K/yr. $2.016M. 10% cap. 
  2. Walgreens in Flower Mound, TX: 13,905 SF Walgreens pharmacy build in 1998 on 1.90 ac corner lot on a major artery in affluent Dallas metro. 100% NNN lease with 5 yrs left. 7.5% cap. NOI/Price not disclosed.  
  3. Burger King in Houston, TX: 2943 SF single-tenant fast food restaurant on .68 ac lot next to I-45 egress/ingress. 100% absolute NNN ground lease (land is for sale and tenant owns the building) to a  strong franchisee with 7 yrs left. NOI $75K/yr. $970K. 7.75% cap.  
  4. Shopping Center in Lauderhill, FL: 46,058 SF well maintained shopping center on 3.60 acres lot across from Target in Coral Springs suburbs. All tenants face main thoroughfare. 62% NNN leased. Actual NOI $342K/yr. $4.7M. 7.29% cap. Upside potential.  
  5. Retail Center in Katy, TX: 19,650 SF attractive retail center on 1.62 ac lot anchored by Goodwill and next to Walgreen’s. In fast growing upper middle-class Houston suburbs.  
  6. Shopping Center in Tallahassee, FL: 86,052 SF shopping center with excellent visibly close to Wal-Mart Supercenter and next to Fwy-319/61.  Affluent area with AHI over $100K/yr. 93% NNN leased. NOI $539K/yr. $6.35M. 8.5% cap.  
  7. MOB in Avondale, AZ: 5702 SF medical office building constructed in 2008 in fast growing (96.84% growth increase since 2000) and affluent (AHI $84K/yr in 1 mile) Phoenix metro. 100% NNN leased to Adelante Healthcare with 5 yrs left. NOI $114K/yr. $1.35M. 8.5% cap.
© Transmercial 2012

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