12-03: ACE Hardware, Golden Corral, MOB, Shopping Centers

1. Westlake ACE Hardware in Blue Springs, MO: 20,679 SF retail center on 1.94 ac lot in high income area and next to I-70 in Kansas City suburbs. 20 yrs absolute NNN lease to credit tenant with 13 yrs left. NOI $245K/yr with 2% annual rent bumps. $3.268M. 7.50% cap.
2. Shopping Center in San Antonio, TX: 40,341 SF well maintained shopping center on 3+ ac lot anchored by Aaron’s Rents. Across from Ingram Park Mall, a super regional mall anchored by Dillard’s, JCPenney, Macy’s, Sears and Coach. Near I-410.  83% NNN leased. NOI $398K/yr. $4.310M. 9.25% cap.
3. Strip Center in Blaine, MN: 10,034 SF attractive retail center built in 2005 next to Northtown Mall and close to Hwy 610/10 in St Paul suburbs. Tenants include: Potbelly Sandwich Works, Verizon Wireless, GameStop, Chipotle Mexican Grill and FedEx/Kinko’s. 100% NNN leased to national tenants. NOI $315K/yr. $3.6M. 8.77% cap.
4. Golden Corral Restaurant in Franklin, TN: 12,136 SF Golden Corral Buffet Restaurant on nearly 3 ac lot in prosperous (AHI $119K/yr) Nashville suburbs. Adjacent to Lowe’s anchored Power Center and next to I-65. Close to Capella Healthcare and 165-store CoolSprings Galleria Mall. 20yrs NNN lease with 13 yrs left. NOI $268K/yr. with 3% rent bumps annually. $3.253M. 8.25% cap.
5. Shopping Center in Ontario, CA: 60,000 SF shopping center built in 2006 on 6+ ac lot next to Sam’s Club in San Bernardino County.  Across from Lacoste Ontario Mills Outlet, a 200+ shops, restaurants and entertainment and near I-10/15. 100% leased to four tenants. NOI $1.27M/yr. $18M. 7.06% cap.
6. Retail Center in Atlanta, GA: 10,822 SF retail center built in 2002 on 2.34 ac lot.  Shadow-anchored by Kroger grocery in high income area. 90% NN leased to seven tenants. NOI $176K/yr. $2.185M. 8.10% cap.
7. Business Center in Saint Louis, MO: 45,071 SF attractive business center constructed in 2008 on 4+ ac lot. 100% NNN leased to Girl Scouts, Cricket and Dynamic Controls, Inc. NOI $551K/yr. $5.5M. 10.02% cap.
8. Neighborhood Center in Tempe, AZ: 40,658 SF mature retail center in densely populated area on/off ramp Fwy-60. 83% leased. NOI $341K/yr. $4.2M. 8.13% cap.
9. Shopping Center in Cumming, GA: 36,360 SF attractive upscale shopping center built in 2004 on 5+ ac lot in fast growing and high income (AHI $106K/yr) Atlanta metro. Adjacent to Kroger center. 96% leased to national and local tenants. NOI $456K/yr. $5.069M. 9% cap.
10. MOB in Johnson, AR: 12,004 SF Class A single tenant medical office building constructed in 2005 on 1+ ac lot next to Willow Creek Women’s Hospital and I-540. 100% NNN leased with 7 yrs left to an established OB/BYN practice. NOI $202K/yr with annual rent increases. $2.495M. 8.10% cap.

© Transmercial 2012