10-01: Bojangles, KFC, Best Buy, Family Dolalr, Rite Aid, Retail Centers

1. Shopping Center in Plano, TX: 16,718 SF shopping center built in 1999 on 1.82 ac lot at the intersection of two 8-lane arteries in affluent Dallas suburbs with AHI of $157K/yr in 1 mile radius.  96% NNN leased to 11 tenants with just 634 SF unit vacant.   NOI $307K/yr.  $3.725M. 8.3% cap.  
2. Bojangles in Chattanooga, TN: 3808 SF brand new Bojangles Chicken & Biscuits restaurant (regional chain) in a fast growing and high income city.  New 20 yrs absolute NNN lease to an operator with 8 units.  NOI $167K/yr with 10% rent bumps every 5 yrs.  $2.167M. 7.75% cap.  
3. KFC in Ladson, SC: 2258 SF KFC on .81 ac lot in a fast growing North Charleston metro.  New 20 yrs absolute NNN lease to an franchisee with 10 stores.  NOI $85K/yr with 10% rent bumps every 5 yrs. Store with new $100K remodel.  $1.215M. 7% cap.  
4. Best Buy in Modesto, CA: 45,950 SF small-footprint Best Buy built in 1999 on 4.17 ac lot near Vintage Faire Mall.  20 yrs absolute NNN lease with 7 yrs left. NOI $570K/yr with rent bumps every 5 yrs.  $7.6M. 7.5% cap.  
5. Family Dollar in Deltona, FL: 9200 SF Family Dollar built in 2011 on 1 ac lot in fast growing North of Orlando. 10 yrs NNN- lease.  NOI $136K/yr $1.7M. 8% cap.  
6. Bank-owned retail center in Henderson, NV: 9484 SF 2-building retail center next to I-215 off-ramp in affluent (AHI $105K/yr in 1mile) Las Vegas suburbs.  Completed in 2005 and shadow anchored by Kohl’s and CVS. 89% NNN leased.  NOI $184K/yr. $1.758M. 10.5% cap.  
7. Rite Aid in Washington Township, MI:  14,564 SF drug store built in 2009 on 2 ac lot in fast growing and upper middle class Detroit suburbs (AHI $89K/yr).  20 yrs absolute NNN lease with 17 yrs left.  NOI $405K/yr with 10% rent bumps every 10 yrs.  $4.501M. 9% cap. 

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