09-06: Burlington Coat Factory, Walgreens, Shopping Centers

1. Shopping Center in The Woodlands, TX: 21,327 SF beautiful shopping center built in 2007 along main retail corridor in fast growing & affluent Houston suburbs. Close to St. Luke’s Woodlands Hospital and I-45. 100% NNN leased to 9 tenants. NOI $441K/yr. $5.412M. 8.15% Cap.
2. Shopping Center in Boise, ID: 68,997 SF shopping center renovated in 2005 & anchored by Dollar Tree at high traffic location. Close to St Alphonsus Regional Medical Center, Boise Towne Square and I-184. 90% leased. NOI $788K/yr. $9.858M. 8% cap.
3. Shopping Center in Boise, ID: 20,348 SF14-units well maintained shopping center on 2.76 ac in high income area (AHI $84K/yr in 1 mile). Shadow anchored by outparcel to Albertson’s grocery. 88% leased with 1 vacant space. NOI $231K/yr. $2.727M. 8.50% cap. Buyer to assume $1.44M at 5.89% interest rate.
4. Retail Center in Waukegan, IL: 14,180 SF retail center built in 2005 on 1.19 ac lot across from 115,000 SF Big Kmart anchored center in Chicago metro.  100% NNN leased to: O’Reilly’s Auto Parts, Nail Pro and Xpert Insurance Agency.  NOI $301K/yr. $2.825M. 10.67% cap.
5. Burlington Coat Factory in Bettendorf, IA: 79,158 SF single-tenant retail building on nearly 7 acres of land at I-74 on/off ramp. 10 yrs NNN corp lease with 6½ yrs left. NOI $608K/yr with rent increases every 5 yrs. $7.606M. 8% cap.
6. Walgreens in Baytown, TX: 13.905 SF drug store built in 1999 on 1.50 ac lot in Houston suburbs. Near Baytown Medical Center, Jacinto Medical Group, Baytown Urgent Care and San Jacinto Methodist Hospital. 20 yrs NNN corp lease with 8 yrs left. NOI $259K/yr. $3.463M. 7.50% cap.
7. Strip Center in Montebello, CA: 6770 SF strip center built in 2006 on .52 ac lot at a signalized corner location in a densely populated city in Los Angeles. 100% NNN leased to 3 tenants. NOI $235K/yr. $3.05M. 7.75% cap.
8. Shopping Center in Sioux Falls, SD: 21,375 SF shopping center on 2.47 ac lot in affluent (AHI $94K/yr) neighborhood. 90% NNN leased to Dareo’s Pizza, The Club, East Central Grain Commodities, Saigon Panda, Beryzoka Grocery, Village Hair & Spa, Edward Jones Investments, HealthWise Chiropractic, Vallet Cleaners, Athena’s Gallery and Olga’s Alterations. NOI $164K/yr. $2.235M. 7.37% cap.

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