02-13: Rite Aid, LA Fitness, DaVita, MOB, Retail Centers

1. Retail Center in Indianapolis, IN: 12,172 SF retail center at a hard corner location in high income (AHI $92K/yr in 1 mile) area. 100% leased. NOI $293K/yr. $3.65M. 8.05% cap.
2. Rite Aid in Greece, NY: 13,604 SF Rite Aid pharmacy built in 2008 on 1.82 ac lot in Rochester suburbs. Close to The Mall at Greece Ridge.  20 yrs NNN lease with 17 yrs left.  NOI $552K/yr with 10% rent bump in 2018.  $6.5M. 8.50% cap.
3. LA Fitness in Houston, TX: 45,000 SF new built-to-suit fitness center on 3.74 ac lot in growing and high income area. Along major retail corridor and across from162,000 SF Woodlake Shopping Center. New 15 yrs NNN- lease. NOI $900K/yr with CPI or 10% rent increases every 5 yrs. $12.413M. 9.42% cap.
4. Medical & Retail Buildings in Sugar Land, TX: 36,441 SF consisting of four medical and retail buildings constructed in 2006 in high income Houston metro. Close to Memorial Hermann Sugar Land Hospital. NOI $574K/yr. $7.2M. 7.98% cap.
5. Retail Center in Richmond, VA: 5600 SF retail buildings built in 2007 on 1+ ac outparcel to Walmart and Lowe’s and near I-95. Tenants include: free-standing 1,850 SF drive-thru Starbucks Coffee, 1,777 SF Game Stop and 1,973 SF Sunshine Nails. 100% NNN leased. NOI $153K/yr. $2.187M. 7% cap.
6. Retail Center in Worth, IL: 7500 SF retail center with all units facing busy corridor. 100% leased to long term tenants. NOI $94K/yr. $1.199M. 7.90% cap.
7. DaVita in Chicago, IL: 9100 SF brand new built-to-suit dialysis center on .76 ac lot in densely populated area. Tenant is relocating from smaller facility approximately .25 miles to the South.  New 15 yrs NNN- corp lease. NOI $234K/yr with 10% rent bumps every 5 yrs. $3.605M. 6.50% cap.
8. Shopping Center in Renton, WA: 25,224 SF well maintained two-story shopping center on 2+ ac lot at a hard corner location in affluent (AHI $93K/yr in 1 mile) Seattle metro. 95% NNN leased. Proforma NOI $399K/yr. $5.75M. 6.95% cap.
9. Rite Aid in Colton, CA: 19,300 SF Rite Aid pharmacy built in 1991 on 1.77 ac lot at a signalized corner location just off I-215 exit. Co-tenant with Starter Bros Market. 17 yrs absolute NNN lease with 4 yrs left. NOI $158K/yr with rental increases. $1.915M. 8.25% cap. 
10. Strip Center in Tarpon Springs, FL: 5800 SF strip center on .40 ac lot in Tampa suburbs. 100% leased. NOI $70K/yr. $705K. 8% cap.  

© Transmercial 2013