12-11: Walgreen's, Bojangles', Wendy's, Taco Bell & KFC, Jack In The Box, Advance Auto Parts

1. Retail Center in Maricopa, AZ: 7520 SF retail center built in 2009 on 1+ ac corner lot adjacent to Fry’s Marketplace Grocery in fast growing area. 100% NNN- newly extended lease with 9½ yrs left to The Pet Club, a regional tenant with 34 locations.  NOI $135K/yr with 11.1% rent increase in 2017. $1.6M. 8.46% cap.
2. Retail Center in Reno, NV: 5300 SF attractive retail center constructed in 2010 on .53 ac outparcel to Super Walmart at major retail thoroughfare. Across from Albertson’s center and near I-80. 100% NNN leased. NOI/Cap not provided.
3. Walgreen’s in Saint Louis, MO: 13,987 SF drive-thru Walgreen’s on 2+ ac lot at a hard corner location. In high income (AHI $80K/yr in 3 mile radius) area and close to I-55. Close to 355-bed St. Louis VA Medical Center and 38-bed Kindred Hospital St. Louis-St. Antony’s. 20 yrs NNN- lease with 7 yrs left. NOI $347K/yr. $4.7M. 7.40% cap.
4. Bojangles’ in Murfreesboro, TN: 3800 SF newly constructed Bojangles Chicken & Biscuits restaurant (regional chain) in a fast growing and upper middle class city.  New 20 yrs NNN lease. NOI $174K/yr with 1.5% annual rent increases starting in 3/2015. $2.23M. 7.50% cap.
5. Shopping Center in Montclair, CA: 19,031 SF well maintained shopping center on 1.55 ac lot at a hard corner location in San Bernardino County. Close to 102-bed Montclair Hospital Medical Center, Costco, Montclair Plaza and I-10. 96% leased to 12 tenants. NOI $174K/yr. $2.6M. 6.70% cap. Upside potential as tenant pay below market rent.
6. Wendy’s in Cleveland, TN: 2326 SF Wendy’s on .59 ac corner lot at a main corridor in Chattanooga suburbs. Close to Cleveland State Community College, Skyridge Medical Center and I-75. 20 yrs absolute NNN lease with 14 yrs left. NOI $130K/yr with 8.25% rent bumps every 5 yrs. $1.676M. 7.75% cap. $1.09M loan must be assumed.
7. Taco Bell & KFC in Keller, TX: 3506 SF drive-thru dual branded fast food restaurant on 1 ac lot along Hwy-377. In affluent North of Fort Worth with and AHI of $106K/yr in 1 mile. Next to Kohl’s and The Home Depot. New 15 yrs absolute NNN lease to 2^nd largest franchisee with 230 units. NOI $111K/yr with 1% annual rent increases. $1.779M. 6.25% cap.
8. Jack in the Box in Concord, CA: 2390 SF drive-thru Jack In The Box fast food restaurant at  Hwy-4 exit in high income San Francisco Bay Area (AHI $98K/yr). Brand new 20 yrs absolute NNN lease to a strong operator with 19 units in Northern CA. NOI $156K/yr with 1% annual rent increases. $2.85M. 5.50% cap.
9. Retail Center in Fort Wayne, IN: 7600 SF retail center built in 2007 on 2.50 ac lot at a signalized corner location and next to Menards. 100% NNN leased to T-Mobile, Springleaf Financial. Longe Optical, Great Clips and Studio Nails. NOI $153K/yr. $1.8M. 8.50% cap.
10. Advance Auto Parts (S&P BBB-) in Houston, TX: 8640 SF auto parts retail building at a major corridor in densely-populated area. Next to Walgreen’s and cross from H.E.B. Grocery. 15 yrs NNN- lease with 8 yrs left. NOI $120K/yr with a 10% rent bump in 2016. $1.599M. 7.56% cap.

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