Monday, December 3, 2012

11-19: Fresenius, Applebee's, Walgreens, Del Taco, Boston's Pizza



  1. Medical Center in Miami, FL: 18,026 three single-story medical office buildings on 1.63 ac lot at a signalized intersection. Across from 650-bed Baptist Hospital of Miami. 100% NNN leased to medical tenants. NOI $408K/yr. $5.45M. 7.50% cap.
  2. Fresenius in Memphis, TN: 14,924 SF dialysis center at a hard corner location. Next to Walgreens. Tenant has occupied facility since 1997. 100% NNN- lease with 9+ yrs left. NOI $157K/yr with 2% annual rent increases. $2.245M.7% cap.
  3. Applebee’s in Jonesboro, GA: 5512 SF sit-down family restaurant renovated in 2011 on 1.65 ac lot at major corridor in Atlanta metro. Close to Southern Regional Medical Center, Southlake Mall and I-75. 100% absolute NNN lease with 19 yrs left to a strong operator. NOI $218K/yr with 1% annual rent increases. $2.91M. 7.50% cap.
  4. Retail Center in Henderson, NV: 20,326 SF attractive retail center built in 2007 on 2.57 ac lot in upper middle class Las Vegas metro. Close to Valley Automall, home to 15 major dealerships, Galleria at Sunset Mall and I-515. 66% NNN leased to 9 tenants. NOI $207K/yr. $2.595M. 8% cap. Upside potential when fully leased.
  5. Walgreens in Las Vegas, NV: 15,120 SF Walgreens built in 2001 on over 2 ac lot in densely populated area. 100% NNN-  corp lease with 7+ yrs left. NOI $322K/yr. $4.129M. 7.80% cap.
  6. Del Taco in Pantego, TX: brand new 2,436 SF Del Taco restaurant on .44 ac corner lot in fast growing Dallas Fort-Worth metro. 15 yr absolute NNN lease to strong franchisee with 350 units. This is as sale & leaseback investment.  NOI $120K/yr. $1.714M. 7% cap.
  7. Retail Center in North Miami Beach, FL: 22,850 SF recently renovated retail center on 1.33 ac lot at major retail corridor. Across from Mall at 163rd Street, Home Depot and Walmart Supercenter. 92% leased. NOI $289K/yr. $3.95M. 7.33% cap.
  8. Boston’s Pizza in Fort Worth, TX: 7067 SF built-to-suit  Boston’s Pizza restaurant constructed in 2006 on 1.54 ac lot in growing (143.97% pop growth since 2000) and high income (AHI $91K/yr in 3 miles)neighborhood.  Next to I-35W.  20 yrs absolute NNN ground lease (land is for sale) with 15 yrs left to strong franchisee. NOI $88K/yr with rent bumps every 5 yrs. $1.61M. 5.50% cap.
  9. Retail Center in Thornton, CO: 16,187 SF in-line retail center at a high traffic location in Denver metro. 92% leased to Physicians and medical related services. NOI $323K/yr. $3.7M. 8.70% cap.
© Transmercial 2012
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