06-07: Dollar General, Burlington, Hobby Lobby, Walgreens, MRI, Taco Bell, Fresenius Dialysis, Rite Aid, Auto Center

1. Dollar General (S&P BBB-) in Cape Coral, FL: brand new 12,600 SF retail store at a signalized corner location in Fort Myers metro. High quality construction.  15 yrs NNN corp lease. NOI $142K/yr with 10% rent increase in yr 11. $1.9M. 7.50% cap.
2. Burlington Coat Factory in Elk Grove, CA: 77,874 SF single tenant retail in a power center with Toys ‘R Us, Ralley’s, Ross Dress for Less, Jo-Ann Fabrics and Sport Chalet. Next to Hwy-99 ramp in well-off Sacramento suburbs. 100% NNN- corp lease (S&P B-) with 9 yrs left. NOI $603K/yr. with $0.25/SF rent increases every 5 yrs.. Price: Best Offer.
3. Hobby Lobby in Morgan Hill, CA: 77,185 SF big box retail building on 6.89 acres of land adjacent Cochrane Plaza: a 257,537 SF center anchored by Wal-Mart and Big 5 Sporting Goods and next to Hwy-101 in Silicon Valley suburbs. Great demographics with AHI exceeding $121K/yr. within 1 mile. NOI $385K/yr. 100% NNN leased with 10+ yrs left to  Hobby Lobby (S&P BBB-)with 502 stores in 41 states and $2.28B in revenue. Price: Best Offer.
4. Retail Center in Crete, IL: 10,200 SF retail center on 1.25 ac lot in affluent (AHI $116K/yr) Chicago suburbs. 100% NNN leased to established tenants. NOI $130K/yr.  Reduced to $1.295M. 10.10% cap.
5. MOB in Fairview, NJ: 5526 SF Class-B office building at busy corridor in upper middle-class in New York metro with over 1.7M residents in 5 miles. 15 yrs absolute NNN lease to Open MRI of Fairview. NOI $116Kyr. With 2% annual rent increases. $1.365M. 8.50% cap.
6. Walgreens in Franklin Park, IL: 15,120 SF Walgreens built in 2001 on 1.57 ac lot at a hard corner location in Chicago metro with over 450K residents within 5 miles. Extraordinary store sales.100% NNN- corp lease with 9+ yrs left. NOI $415K/yr. $5.535M. 7.50% cap.
7. Taco Bell in Calumet City, IL: 3000 SF Taco Bell restaurant on .93 ac lot across River Oaks Shopping Center and near I-94. 100% absolute NNN ground lease (land is for sale) to strong franchisee. NOI $60K/yr. $1.008M. 6% cap.
8. Fresenius Dialysis Center in Fort Worth, TX: 9000 SF Class-B dialysis center in fast growing area. 100% NNN lease with 8 yrs left. NOI $106K/yr. $1.281M. 8.3% cap.
9. Rite Aid in Cary, NC: 10,908 SF Rite Aid  built in 1997 on 1.55 ac lot at a signalized corner near I-40/I-440 in growing (pop growth 28.68% since 2000) and well-off Raleigh suburbs. 100% NNN- lease with 5 ½ yrs left. NOI $ 227K/yr. $2.533M. 9% cap.
10. Auto Center in Glen Ellyn, IL: 12,600 SF auto service center at main retail corridor in affluent (AHI $129K/yr) Chicago metro. 100% NNN lease to AAMCO and West Suburban Auto Body. NOI $138K/yr. $1.8M. 7.70% cap.

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