06-21: Captains D's Seafood, Chase Bank, Family Dollar, Wendy's, PetSmart

1. Captains D’s Seafood in Cahokia, IL: 3801 SF restaurant on .80 ac lot in growing St. Louis suburbs. Across from Wal-Mart. 20 yrs absolute NNN corp lease with 10+ yrs left. NOI $72K/yr. with a 5% rent bump in 2013 and a 10% rent bump in 2018.  $886K. 8.18% cap.
2. Shopping Center in Crystal Lake, IL: 20,533 SF10-unit  retail center built in 2007 on 2.44 ac outparcel to Wal-Mart Supercenter in high income (AHI $96K/yr) Chicago suburbs. All tenants are facing State Route 31. 90% NNN leased to mostly national  tenants: Starbucks, Subway, Sally Beauty, Cash Store, GameStop, Verizon, UPS Store, Dental Works, and Kumi Sushi. NOI $555K/yr. $6.615M. 8.40% cap.
3. MOB in Mesa, AZ: 5000 SF medical office building at major retail corridor off Hwy-60 and across Mesa Golfland Sunsplash. Close to Banner Desert Medical Center and Fiesta Mall.  100% NNN leased to Mesa Family Physicians with new 5 yrs lease (this is a sale lease back, and so I believe the lease could be longer). NOI $84K/yr. $1.05M. 8% cap.
4. Shopping Center in San Bernardino, CA: 21,269 SF 9-unit shopping center on 2.21 ac lot anchored by Soup Plantations in business district close to I-215/I-10. 88% leased with current market rent. NOI $225K/yr. $3.1M. 7.27% cap.
5. Chase in Austin, TX: 28,012 SF Chase Bank next to Northcross Mall and near Hwy-1. 100% leased to JP Morgan Chase Bank (S&P A+) with 9 yrs left. NOI $283K/yr. with 2% annual rent increases. $4.2M. 6.75% cap.
6. Family Dollar in Bakersfield, CA: 11,445 SF remodeled single-tenant retail building on .90 ac lot just minutes from Valley Plaza and Hwy-99. New 10 yrs NNN lease. Projected opening is Sept 2012. NOI $96K/yr. $1.425M. 6.74% cap.
7. Retail Center in Stockton, CA: 28,914 SF two tenant retail center at a hard corner location. Co-tenants: Pier I, Smart & Final, TJ Maxx, Toy’s R Us, Mancini’s Sleep World and Sketchers. 100% NNN corp leased to Michael’s and Anna’s Linens. NOI $505K/yr. $7.8M. 6.50% cap.
8. Retail Center in Mount Laurel, NJ: 14,060 SF retail center on 1+ ac lot along main retail corridor in Philadelphia metro. Excellent demographics: AHI $106K/yr. within 1 mile. 100% NNN leased to stable tenants since 2007. NOI $222K/yr. $2.9M. 7.66% cap.
9. Wendy’s in Lilburn, GA: 2886 SF Wendy’s restaurant on .61 ac lot along Hwy-29 in fast growing Atlanta metro. 100% NNN leased to a strong franchisee with over 94 locations. NOI $56K/yr.  $795K.  7.10% cap. Store with sales revenue of $850K, 10.9% increase from 2010.
10. PetSmart in Baton Rouge, LA: 25,265 SF single tenant retail building on 6.50 ac lot at major retail thoroughfare and close to The Mall at Cortana. High AHI of $97K/yr in 1 mile. 100% NNN leased to national tenant with 7 yrs left. NOI $336K/yr. $4.2M. 8% cap. 

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