10-24: Walgreen's, REO'ed Center, Rite Aid, McAlister, KFC, Retail Centers

1. Wal-mart Retail Center in Locust Grove, GA: 27,150 SF brand new retail center on 4+ ac outparcel to a new Wal-mart supercenter in high income Atlanta suburbs.  Credit tenants include: Fantastic Sam’s, Dollar Tree, Sally Beauty, Game Stop and Little Caesars. Across from 300,000 SF Tanger Outlet Center. 100% NNN Leased. $4.878M. 9.02% cap.
2. Walgreens in Eagan, MN: 12,544 SF Walgreen’s built in 1992 on 1.27 ac lot at a hard corner location near I-35 exit in affluent (AHI of $99K/yr) St. Paul/Minneapolis metro. From corner to corner tenants: Grocery & Target anchored center. 100% NNN lease with 5 yrs left. NOI $170K/yr. $2.25M. 7.59% cap. Top performing store with sales of $8M (VERY low 2.14% rent to income ratio and highly profitable location)
3. REO’ed Retail Center in Riverside, CA: 11,306 SF bank-owned retail center on .78 ac signalized corner lot in urban infill location. Across from Kaiser Permanente and near Galleria at Tyler and Hwy-91.  87% leased. Actual NOI $173K/yr. $1.95M. 8.90% Actual cap. Upside potential.
4. Neighborhood Center in Fresno, CA: 50,000 SF retail center on 4.33 ac parcel at a busy corner location in high income (AHI $93K/yr in 1 mile) area.  Just min from upscale Fig Garden Village Shopping Center and near Hwy-41. NOI $600K/yr. $7.6M. 7.90% cap.
5. Rite Aid in Nashua, NH: 15,086 SF drive-thru drug store built in 2008 on 2+ ac corner lot located on the Massachusetts border. Across from Hunt Community A retirement living center with 200+ seniors and near Jt. Joseph Hospital. 20 yrs absolute NNN corp lease with 15+ yrs left. NOI $276K/yr with a 10% rent increase in 2018. $3.31M. 8.35% cap.
6. McAlister’s in Columbia, SC: 7532 SF McAlister’s restaurant on 1.24 ac lot in a densely populated retail trade area. Demographic: prosperous neighborhood with an AHI of $107K/yr in 1 mile.  15 yrs NNN ground lease (land is for sale) with 3 yrs left. NOI $109K/yr.$1.465M. 7.50% cap.
7. KFC in Summerville, SC: 2606 SF attractive single tenant fast food restaurant on .67 ac lot at main retail corridor in North Charleston suburbs. Completely remodeled in 2007.  New 20 yrs NNN lease to an experienced franchisee with 10 units. NOI $75K/yr with 10% rent increases every 5 yrs. $1.07M. 7% cap.
8. Retail Center in Marietta, GA: 28,481 SF retail center built in 2003 on 3.70 ac lot in fast growing and middle class Atlanta metro near I-575. Across from Super Wal-mart and Publix center and near 1,200,000 SF Cobb Mall. 94% NNN leased with 70% national/regional tenants: Axiom Staffing, Buffalo Wild Wings Grill & Bar, Chase Bank, Cheeseburger Bobby's, Moe' s Southwest Grill and T-Mobil.  NOI $644K/yr. $8.05M. 8% cap.
9. Strip Center in Tucson, AZ: 8000 SF strip center constructed in 2008 on nearly 1 ac outparcel to LA Fitness center at a hard corner location. Near Foothills Mall. 100% NNN leased to Einstein Bagels, Cici' s Pizza, and Foothills Barbers. NOI $185K/yr. $2.1M. 8.83% cap.

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