02-12: Boston Market, Jiffy Lube, IHOP, Lowe's, CVS, Denny's

1. Retail Center in Suwanee, GA: 18,200 SF high quality construction retail center built in 1997 on 2.61 ac lot in fast growing and affluent (AHI $155K/yr in 1 mile) Atlanta suburbs. Shadow anchored by Kroger grocery and near 110-bed Emory Johns Creek Hospital. 92% NNN leased with only one vacancy. $3.045M. 8.5% cap.
2. Boston Market in Gurnee, IL: 3152 SF well maintained restaurant built on 1.41 ac lot outparcel to Menards grocery in high income Chicago metro. Across from Gurnee Mills, anchored by Macy’s, TJ Maxx, Kohl’s, Sears, Sports Authority and Bed Bad & Beyond. Near Six Flags Great America and I-94. 20 yrs absolute NNN corp lease with 15 yrs left. NOI $162K/yr with 2% annual rent increases. $2.168M. 7.5% cap. NOTE: flyer not included, full brochure upon request.
3. Shopping Center in Colleyville, TX: 33,902 SF consisting of two retail centers built in 2008 on 3.44 ac lot along main retail corridor in growing & wealthy (AHI $182K/yr in 1 mile) Dallas suburbs. 83% leased. NOI $462K/yr. $5.4M. 8.60% cap.
4. Neighborhood Center in Memphis, TN: 139,815 SF shopping center renovated in 2004 on nearly 12 acres lot anchored by Save-A-Lot grocery between I-40 & I-240. 96% leased to national/regional tenants: 12,000 SF Dollar Tree, 17,000 SF Save A Lot, 27,125 SF Northern Tool, 20,000 SF City Thrift, 41,534 SF Essex Bargain Hunt . NOI $863K/yr. $9M. 9.57% cap.
5. Retail Center in Atwater, CA: 7900 SF strip center built in 2007 on 1 ac lot in a growing city near Merced.  Shadow anchored by Food 4 Less and Walgreens.  100% NNN leased to 4 good tenants: Wells Fargo Bank, Starbucks, UPS Store, and Corp Wireless.  NOI $252K/yr. $3.481M. 7.25% cap.
6. Jiffy Lube in Virginia Beach, VA: 3060 SF Jiffy Lube built in 2002 on .37 ac lot at major retail corridor. Next to Kroger grocery and Home Depot. 20 yrs absolute NNN lease with 9 yrs left to 2^nd largest franchisee with 165 units. NOI $144K/yr. $1.8M. 8% cap.
7. IHOP Restaurant in Memphis, TN: 5000 SF IHOP restaurant on 1+ ac corner lot along major thoroughfare. 25 yrs absolute NNN corp ground lease (land for sale) with 10 yrs left. NOI $86K/yr with 15% rent increase in 12/2017. $1.35M. 6.5% cap.
8. Lowe’s in Las Vegas, NV: 175,000 SF big box retail building constructed in 2010 on 11.23 acres lot in fast growing and high income area with an AHI of $78K/yr in 1 mile. Huge monument sign visible from Hwy.  Off/on ramp Hwy-95. 100% absolute NNN ground lease (land is for sale) with 17+ yrs left. NOI $724K/yr. $11.6M. 6.25% cap.
9. CVS in Palm Springs, FL: 12,739 SF 24-hr with three drive-up bays CVS pharmacy on 1.50 ac lot at a hard corner location. 20 yrs NNN- corp lease with 6+ yrs left. NOI $319K/yr with a 2% rent bump in 2014. $4.564M. 7% cap. Store with strong sales of over $8M/year.
10. Denny’s Restaurant in Newbury Park, CA: 3510 SF Denny’s restaurant in well off (AHI $124K/yr in 3 mile) Southern California city. Adjacent to Home Depot, Target and Staples. Visible & off/on ramp Hwy-101. 100% NNN lease with 4 yrs left. NOI $120K/yr. $2.4M. 6.05% cap.

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