07-13: Food 4 Less, Sherwin Williams, Jiffy Lube, MOB, Office Building

1. Food 4 Less in Henderson, NV: 43,114 SF Food 4 Less grocery store built in 1991 on 3.91 ac lot at high traffic location in high income Las Vegas neighborhood. 100% NNN leased with 8+ yrs left. NOI $500K/yr. $5.53M. 9.05% cap.
2. Sherwin Williams in Rochester Hills, MI: 4005 SF brand new built-to-suit retail building condo in affluent Detroit suburbs. 10 yr NNN- corp lease to Sherwin Williams Paint (S&P A). NOI $96K/yr with 10% rent increases every 5 yrs. $1.324M. 7.25% cap.
3. Retail Building in Grosse Pointe Woods, MI: 7657 SF renovated in 2006 on .19 ac lot in high income Detroit metro. Next to St John Hospital & Medical Center. 100% leased to Men’s Wearhouse and Papa Romano’s. NOI $73K/yr. $861K. 8.50% cap.
4. Jiffy Lube in Glen Allen, VA: 5885 SF Jiffy Lube built in 1995 on .56 ac outparcel Wal-Mart Supercenter and Short Pump Town Center and close to I-64 in growing Richmond metro with AHI of $110K/yr. 100% NNN lease to strong operator with 165 units with 10+ yrs left. NOI $106K/yr. $1.5M. 7.12% cap.
5. Shopping Center in Dublin, OH: 22,140 SF shopping center built in 2008 on nearly 3 acres outparcel to Mall at Tuttle Crossings and next to I-270. Strong national and local tenant including: Mattress Firm, Noodles & Company, Don Patron Mexican Restaurant, Artemis Laser & Vein Center, Ronin Asian Bistro and Nail Spree Salon.100% NNN leased. NOI $659K/yr. $6.8M. 9.70% cap.
6. Retail Center in Yuba City, CA: 19,099 SF retail center built in 1997 on 2+ ac lot about 30 min North of Sacramento. Shadow anchored by Home Depot and Wal-Mart Supercenter. Tenants include: Chase, Sports Clips, Financial Office, Affordable Dentures, FedEx Kinko’s, VN Nails, Dollar Store & AT&T. 93% NNN leased with only one vacant unit. NOI $556K/yr. $7.515M. 7.40% cap.
7. MOB in Medford, OR: 7200 SF Class-A two-story single-tenant medical office building constructed in 2006 on .23 ac lot in a stable city just a few blocks from 378-bed Rogue Valley medical Center. 100% absolute NNN lease to multi-specialty medical practice. NOI $162K/yr. $1.91M. 8.50% cap.
8. Office Building in Southlake, TX: 16,975 SF high quality construction office building completed in 1999 on 1.97 ac lot across Gateway Plaza. In growing and affluent (AHI $132K/yr in 3 miles) Dallas metro. Close to Baylor Regional Med Center-Grapevine and Hwy-114. 80% NNN leased. NOI $220K/yr. $2.2M.10% cap.
9. Office Building in Huntington Beach, CA: 10,407 SF Class-B two story office building on .55 ac lot anchored by 4,830 SF DaVita Dialysis in affluent coastal town (AHI $126K/yr within 3 miles). 88% leased. NOI $92K/yr. $1.3M. 7.10% cap. Upside potential.

© Transmercial 2012