06-12: Towne Plaza, MOB, Mixed Use, Shopping Centers

• AHI: Avg. Household Income.  National average is about $50+K/yr.
• NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.
• NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.
• NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1. Towne Plaza in League City, TX: 98,505 SF shopping center on 14.505 acres of land at corner location of FM-518 and Hwy-3 in Houston suburbs.  Renovated in 1992 & 2008. Anchored by a 25,258 SF Palais Royal, 16,500 SF Goodwill and 10,050 SF Family Dollar.  84% leased. NOI $576K/yr. $6.6M. 8.75% cap.
2. Shopping Center in Dallas, TX: 52,688 SF shopping center renovated in 2008-2011 on nearly 5 ac lot. 100% NNN leased to 3 national tenants: City Trends, dd’s Discounts and Save-A-Lot. NOI $312K/yr. $3.91M. 8% cap.
3. Shopping Center in Santa Clarita, CA: 53,692 SF shopping center built in 2001 on 5.91 acres of land at a busy signalized intersection in Southern CA. 97% NNN leased to 15 tenants. NOI $850K/yr. $10.5M. 8.10% cap.
4. Retail Center in Omaha, NE: 11,250 SF recently renovated retail center on .80 ac lot across from Bag ‘N Save grocery and near I-80. 100% NNN leased. NOI $102K/yr. $1.247M. 8.25% cap.
5. Office/Retail in Charlotte, NC: 21,421 SF mixed-use high-quality constructed center in growing & prosperous (AHI $137K/yr. in 3 mile) neighborhood. 100% leased. NOI $420K/yr. $5.050M. 8.32% cap.
6. MOB in Kennewick, WA: 5820 SF Class-A medical office building across from Cancer center and near KGH Medial Mall. 100% NNN lease. NOI $104K/yr. $1.325M. 7.90% cap.
7. Office Building in Las Vegas, NV: 10,300 SF Class-B office building constructed in 2009 close to Las Vegas Outlet Center and I-215/15. 90% NNN leased to credit tenants. NOI $150K/yr. $1.5M. 10% cap.
8. Office Building in Bolingbrook, IL: 21,000 SF well maintained office building on 1.38 ac lot at busy corridor and next to I-355.  In growing & upper middle-class Chicago suburbs. 85% leased. NOI $297K/yr. $3.5M. 8.50% cap.

© Transmercial 2012