10-19: MOBs, Shopping Centers, Childtime Learning Centers

1. Medical Office Building in Libertyville, IL: 13,684 SF single-tenant class-A medical office building constructed in 2000 in affluent (AHI $124K/yr in 1 mile) North Chicago.  100% NNN lease with yrs left to Illinois Bone and Joint, a regional tenant with 18 locations in Chicago metro.  Tenant has been at this location for 10 yrs.  NOI $285K/yr with 3% annual rent bumps. $3.8M. 7.5% cap.
2. Strip Mall in Batavia, IL: 11,456 SF strip mall built in 2005 on 1.16 ac lot on a major commercial corridor in upper middle-class Chicago suburbs.  Shadow anchored by Target and Jewel Foods.  100% NNN leased to 3 national/regional tenants.  NOI $242K/yr.  $3.1M. 7.83% cap.
3. Shopping Center in Carrollton, TX: 18,750 SF shopping center renovated in 2007 on 2+ ac lot in fast growing and high income Fort Worth/Dallas metro and next to Hwy-190. Big monument signage on site. Nearby tenants include: Ross, Petco, Target, Walmart and Lowes. 100% NNN leased to 14 tenants. NOI $256K/yr. $3.015M. 8.50% cap.
4. Childtime Learning Center in Kingwood, TX: 4920 SF day care facility built in 1994 on .62 ac lot in prosperous neighborhood with an AHI of $151K/yr within 1 mile in Houston suburbs. New 10 yrs NNN corp lease to Childtime Learning Center, a national childcare provider. NOI $123K/yr with 10% rent increases every 5 yrs. $1.451M. 8.50% cap.
5. Childtime Learning Center in Waldorf, MD: 7258 SF day care center built in 1988 on 1.58 ac lot in growing and high income (AHI $94K/yr in 3 mile radius) Washington metro. Close to 130+ stores recently remodeled Saint Charles Town Center anchored by Dick's Sporting Goods, Macy's, Macy's Home Store, JCPenney, Kohl's and Sears, and Hwy-301. New 10 yrs NNN corp lease. NOI $100K/yr with 10% rent bumps every 5 yrs. $1.176M. 8.50% cap.
6. MOB in Las Vegas, NV: 10,452 SF Class B medical office building constructed in 1998 at hard corner location. Tenant include Lab Corp of America, Germin Clinical Neurology and Cell Phone Tower. Across from Walgreens and Smith’s grocery and pharmacy anchored center. 100% leased. NOI $160K/yr. $2.2M. 7.30% cap.
7. MOB in Phoenix, AZ: 8311 SF well maintained single tenant medical office building on .86 ac lot in wealthy (AHI $108K/yr) area. Tenant and landlord spent $794,000 renovating the building in 2010. 100% NNN lease with 3+ yrs left to Care More Medical Group with 30 locations. NOI $129K/yr with 3% annual rent increases. NOI $129K/yr. $1.66M. 7.80% cap.
8. Neighborhood Center in Salem, OR: 38,558 SF in- line retail center renovated in 2011 anchored by 13,506 SF Trader Joe’s, 14,075 SF PetCo and Tuesday Morning. Shadow anchored by Rite Aid and a hard corner location.  100% NNN leased. NOI $567K/yr. $9.45M. 6% cap.

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