07-10: Business Center, Shopping Centers, Retail Centers

Please click here for the revised article “Sale & Leaseback: What Investors Should Know”

1. Business Center in Columbus, OH: 99553 SF Class A business center built in 1998 close to I-270. Tenants include: 17,804 SF Ohio State University Physicians, Pediatric Physicians, 19,355 SF Open Text and 33,528 SF Verizon Wireless. 85% NNN leased to 6 tenants with only 2 vacant units. NOI $942K/yr. $10M. 9.43% cap.
2. Shopping Center in Delaware, OH: 33,625 SF shopping center built in 2001 on 7+ ac lot in growing Columbus metro. Shadow-anchored by recently expanded 81,052 SF Kroger grocery. 100% NNN lease. NOI $397K/yr. $4.865M. 8.7% cap.
3. Shopping Center in Colorado Springs, CO: 20,020 SF shopping center built in 1997 along busy thoroughfare. Major tenants include Great China Buffet (5,000 SF), Rent to Own (3,700 SF), La Sinaloense Bakery (1,680 SF), and Adonai Beauty Salon and Fashions (1,680 SF). 95% leased to 11 tenants. NOI $ 195K/yr. 9.79% cap.
4. Strip Center in North Miami, FL: 14,000 SF strip center on .70 ac lot at a major commercial corridor and next to I-95. 100% NNN lease to 9 stable/long term tenants. NOI $158K/yr. $1.899M. 8.34% cap.
5. Retail Center in Rosedale, NY: 6750 SF multi-tenant retail center built in 2005 on .21 ac lot across from Lowe’s, Big K-mart and TJ-Max anchored center in affluent (AHI $141K/yr in 1 mile) New York suburbs. 100% leased. NOI $167K/yr. $2.385M. 7% cap.

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