09-25: Panda Express, Sports Authority, Walgreen's, First Bank, MOB

1. Retail Center in Cedar Hill, TX: 8250 SF 3-yrs old attractive retail center 2.4 ac lot in fast growing Dallas suburbs. Across from Walmart Supercenter and close to Uptown Village at Cedar Hill: a 615, 000 SF center anchored by Dillard’s, Barnes & Noble and Dick’s Sporting Goods. 87% NNN leased to 3 tenants. NOI $142K/yr. $1.498M. 9.50% cap.
2. Panda Express in Indio, CA: 2448 SF well maintained drive-thru restaurant built in 2007 on .57 ac lot next to Rite Aid and along Hwy-101. Close to Fiesta Mall and John F Kennedy Memorial Hospital in Riverside County. 100% absolute NNN corp ground lease ((Land is for sale, tenant owns the building) with 15 yrs left. NOI $94K/yr. $1.895M. 5% cap. 
3. Retail Center in Greenwood Village, CO: 12,482 SF well maintained retail center on 1 ac outparcel to Target in affluent Denver suburbs.  Off/On ramp of I-25 and across The Home Depot and Lowes.  90% leased. NOI $248K/yr. $3.425M. 7.25% cap.
4. Strip Center in Louisville, KY: 9682 SF inline strip center in fast growing area along Hwy-61. Shadow anchored by Kroger with fuel station and across from Walmart Supercenter. 100% NNN leased. Tenants include Penn Station, Sleep Outfitters, Great Clips, #1 China Buffet and KY Farm Bureau Insurance. NOI $135K/yr. $1.75M. 7.76% cap.
5. Community Center in Oviedo, FL: 104,767 SF neighborhood center built in 1998 anchored by Staples, CVS and McDonalds in well off (AHI $96K/yr) Orlando metro. Close to Oviedo Marketplace and next to Toll-417. Property consists of 62,079 rentable square feet with 98%  leased retail space, and a 42,688 square foot ground lease (tenant owns building). 8% cap. Price/NOI not disclosed.
6. Sports Authority in Roseville, MN: 80,065 SF Sports Authority on 6.76 acres of land next to Hwy-36 and across from Rosedale Shopping Center and near Har Mar Mall in high income Minneapolis metro. 10 yrs absolute NNN lease. NOI $528K/yr with 10% rent increases every 5 yrs. $6.405M. 8.25% cap.
7. Retail Building in Fontana, CA: 29,398 SF retail building on 2.38 ac lot. Shadow anchored by Cardenas Market, a regional tenant in densely populated San Bernardino county. 10 yrs NNN leased to Harbor Freight Tools and Family Dollar. NOI $310K/yr with 10% rent bumps every 5 yrs. $4.137M. 7.52% cap.
8. MOB in Columbus, OH: 17,349 SF Class B medical office building constructed in 2004 in close proximity to Mt Carmel East Hospital and I-270. 100% NNN leased to strong physician practices. NOI $336K/yr. $4.207M. 8% cap.
9. Walgreen’s in Indianapolis, IN: 15,120 SF drive-thru drug store built in 2000 on 1.20 ac lot across from Home Depot off/on ramp I-465. 100% NNN lease. NOI $304K/yr. $3.695M. 8.25% cap.
10. First Bank in San Diego, CA: 8254 SF drive-thru First Bank on 1.27 ac lot in front of Chula Vista Police Department and near City Hall and Civic Center. 100% NNN ground lease (land is for sale) with 7 yrs left. NOI $153K/yr. $2.354M. 6.53% cap. 

© Transmercial 2012