07-17: Chili's, Jack in the Box, Walgreens, AAA, MOB, Dollar General

1. Chili’s Grill & Bar in Shawnee, KS: 5642 SF family sit down restaurant built in 2003 on nearly 2 ac lot in high income area in Kansas City metro. Next to busy corridor & near The Home Depot, Target, Lowes and Wal-Mart. New 20 yrs absolute NNN lease to strong operator with 23 units.  Strong store’s sales revenue of $2.4M. NOI $180K/yr with 10% rent bumps every 5 yrs. $2.4M. 7.5% cap.
2. Jack in the Box in Garland, TX: 2421 SF drive thru fast food restaurant built in 1997 on .78 ac lot next to I-30 in Dallas suburbs. Visible from I-30. 100% absolute NNN corp lease with 3 yrs left. NOI $120K/yr. $1.65M. 7.30% cap.
3. Walgreen’s in Las Vegas, NV: 15,120 SF Walgreens built in 2001 on 2+ ac lot next to Wal-Mart along main retail corridor. West of Sunrise Plaza: a 91,500 SF anchored center. 20 yr NNN- corp lease with 8+ yrs left. NOI $322K/yr. $4.35M. 7.40% cap.
4. Walgreen’s in Madison, WI: 13,500 SF pharmacy built in 1995 on 1.50 ac lot in a stable upper middle class state capital city. Close to Hwy-12. 100% NNN lease with 2 yrs left. NOI $189K/yr. $2.1M. 9.03% cap.
5. Retail Center in Corinth, TX: 13,906 SF newly constructed retail center on 1.74 ac lot off I-35E in Dallas metro. Anchored by 8986 SF Liberty Dialysis (owned by Fresenius) with a 10-yrs lease. Across from Atrium Medical Center and Corinth City Hall. 100% NNN leased to 4 tenants. NOI $260K/yr. $2.899M. 9% cap.
6. Shopping Center in Bermuda Dunes, CA: 51,572 SF high quality constructed shopping center built in 2001 on 5+ acres lot anchored by Ralph’s, Walgreens, TJ Maxx and Home Goods. In high income (AHI $104K/yr within 3 miles) Palm Springs suburbs. 97% leased. NOI $707K/yr. $10.112M. 7% cap.
7. MOB in Broker Arrow, OK: 36,218 SF Class-A two-story medical buildings on 2+ ac lot in affluent Tulsa suburbs with AHI of $125K/yr in 1 mile. Close to St Francis Hospital-South, Southcrest Hospital and Hwy-169. 53% leased. NOI $250K/yr. $2.3M. 10.87% cap. Strong upside potential when fully leased.
8. AAA Car care center in Greensboro, NC: 7585 SF Car care center on 1.25 ac lot in commercial corridor in high income area. 10 yrs NNN lease with 5 yrs left. NOI $133K/yr. with 3.7% rent bump in 2013. $1.6M. 8.34% cap.
9. Shopping Center in North Richland Hills, TX: 22,278 SF attractive shopping center built in 2006 on 3.64 ac lot at highly visible location. In prosperous (AHI $165K/yr) Dallas/Fort Worth metro. 60% NNN leased. NOI $220K/yr. $2.75M. 8% cap. Upside potential.
10. Dollar General in Tempe, TX: 9100 SF under construction Family Dollar store near I-35. Store will open 9/2012. 15 yrs absolute NNN corp lease. NOI $80K/yr with 3% rent increase in yr 11. $1.071M. 7.50% Cap.  

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