09-11: Arby's, 24 Hour Fitness, MOB, Retail Centers

1. Arby’s in West Valley City, UT: 2784 SF Arby’s Restaurant renovated in 2010 on 1+ ac lot along State Hwy-172 in fast growing Salt Lake City suburbs. Well performing store with over $1.5M in sales. 20 yrs absolute NNN corp lease till 2017. NOI $91K/yr with 4% rent increases every 2 yrs. $1.305M. 7% cap.  Low 6% rent o income ratio means very profitable location and likely to renew lease.
2. Retail Center in Round Lake Beach, IL: newly constructed shopping center consisting of 7516 SF Firestone on 20 yrs ground lease and 14,086 SF retail center with brand name tenants including Chipotle, Starbucks and T-Mobile. Across from Round Lake Beach Metra Train Station & at signalized intersection along Route-83 in well-off Chicago metro. 100% NNN leased. NOI $472K/yr. $6.285M. 7.51% cap.
3. 24 Hour Fitness in Fort Worth, TX: 43,801 SF fitness center built in 2008 on 3.51 acres of land in fast growing (241.19% growth since 2000) and high income area. 15 yrs NNN- corp lease with 12 yrs left. NOI $1.026M/yr with 10% rent increases every 5 yrs. $11.4M. 9% cap.
4. Retail Center in Mansfield, TX: 10,730 SF attractive retail center built in 2008 on nearly 2 ac lot in fast growing and affluent (AHI $101K/yr) & dense trade area in Dallas metro.  Close to Methodist Mansfield Medical Center . 100% NNN leased to 7 tenants. NOI $ 216K/yr. $2.525M. 8.60% cap.
5. Strip Center in Lake Charles, LA: 8250 SF strip center built in 2008 on .71 ac lot adjacent to Prien Lake Mall and off/on ramp I-210. NNN leased to T-Mobile, Radio Shack and America’s Best. NOI $189K/yr. $2.295M. 8.25% cap.
6. Retail Center in Carpentersville, IL: 18,144 retail center built in 2004 on 2+ ac outparcel to Woodman’s Market and next to Menards. Excellent demographics: AHI $135K/yr. within 1 mile. Major tenants: Caribou Coffee, US Army Recruiter, Anytime Fitness and many more.100% NNN leased. NOI $385K/yr. $4.1M. 9.4% cap.
7. MOB in Belleville, NJ: 5300 SF Class-B medical office building constructed in 2002 in densely populated New York metro with over 700,000 residents within 5 miles.  Across from Clara Maass Medical Center. $950K. NOI/Cap not provided.
8. MOB in Houston, TX: 11,490 SF Class-B medical office building on 1 ac lot. Near Houston Northwest Medical Center and I-45. 86% leased to a diverse mix of medical tenants specializing in vascular and thoracic surgery, general surgery, and family medicine. NOI $114K/yr. $972K. 11.75% cap.

© Transmercial 2012