07-30: Macaroni Grill, Applebee's, Shopping Centers

1. Retail Building in Erie, PA: 4800 SF retail building constructed in 2007 on .72 ac lot at major retail artery with nearly 40,000 VPD and close to I-90. Tenants include: T-Mobile and The Exchange. 100% NNN leased to T-Mobile and The Exchange. NOI $134K/yr. $1.68M. 8% cap.
2. Shopping Center in Thornton, CO: 16,187 SF attractive shopping center built in 2006 on 2.45 ac lot at high traffic location in Denver metro. 74% of tenants are Physicians or medical related service. NNN leases. NOI $320K/yr. $3.95M. 8.12% cap.
3. Shopping Center in Tampa, FL: 40,659 SF well maintained shopping center on 4.43 ac lot close to University of South Florida and University Square Mall. 78% NNN leased to established tenants. NOI $487K/yr. $6.1M. 8% cap.
4. Macaroni Grill in Folsom, CA: 7042 SF Italian restaurant built in 2001 on 1.53 ac outparcel to Broadstone Plaza: a power center anchored by The Home Depot, Michaels, PetSmart, Old Navy and more. 100% absolute NNN corp lease with 16 yrs left. NOI $191K/yr with 10% rent increases in primary term and options. $2.86M. 6.68% cap.
5. Retail Center in Toledo, OH: 17,140 SF retail center built in 2006 next to Kroger and I-75. Tenants include: DaVita Dialysis, Little Caesars, Great Clips, The Goodwill, China King, Blue Quarry and Memorize. 100% NNN leased. NOI $212K/yr. $2.125M. 10% cap.
6. Shopping Center in Missouri City, TX: 19,156 SF high-quality constructed shopping center built in 2010 on nearly 2 acres of land along Hwy-6 in affluent Houston suburbs. 100% NNN leased. NOI $234K/yr. $5.3M. 6.10% cap.
7. Applebee’s in Saint Augustine, FL:  5766 SF Applebee’s restaurant built in 1993 on 1.40 ac lot at a major retail corridor and close to Flagler Hospital. New 20 yrs NNN lease to an experienced franchisee. NOI $220K/yr with 6% rent bumps every 5 yrs. $2.993M.7.35% cap.
8. Strip Center in Portland, OR: 14,245 SF strip center built in 2005 on 2.50 ac outparcel to Walmart at high income area. Close to 1.5M SF Clackamas Town Center and I-205. 100% NNN leased. NOI $201K/yr. $2.010M. 10% cap.

© Transmercial 2012