03-05: Big Lots; OSH, Jack in the Box, Arizona's Steakhouse Restaurant, Merlin Muffler

1. Retail Center in Fayetteville, GA: 11,000 SF retail center at a signalized corner location in fast growing and high income (AHI $91K/yr) Atlanta metro. Across from Fayette Pavilion, a 1,529,440 SF Regional Power Center. 100% leased to credit tenants. NOI $190K/yr. $1.9M. 10% cap.
2. Big Lots (S&P BBB-) in Whittier, CA: 35,000 SF big box retail building constructed in 1992 on 3.59 ac lot along main retail corridor in densely populated city in Los Angeles. Across from a power center anchored by TJ Maxx, Ralph’s, Michaels and Ross Dress For Less. 100% NNN corp lease to national tenant with 5 yrs left. NOI $455K/yr. $6.512M. 7% cap.
3. Orchard Supply Hardware in Antioch, CA: 42,983 SF single tenant retail building constructed in 2002 on 3.66 ac lot in high income (AHI $109K/yr in 1 mile) and stable city Northeast of San Francisco.  Next to Walmart. 100% NNN leased with 5 yrs left. NOI $625K/yr. $9.2M. 6.79% cap.
4. Retail Center in Windsor, CA: 14,210 SF retail center built in 2002 on 1.41 ac outparcel to Wal-Mart, Home Depot and Office Depot and next to Hwy-101. High income & stable town just North of San Francisco.  100% leased. NOI $352K/yr. $4.85M. 7.27% cap.
5. Strip Center in Kissimmee, FL: 5680 SF attractive strip center on .13 ac lot in growing Orlando suburbs. 100% NNN leased. NOI $131K/yr. $1.426M. 9.25% cap.
6. Shopping Center in Augusta, GA: 21,000 SF attractive shopping center built in 2005 on 1.43 ac lot in high income area. Part of a power center with Target, Pets Mart, Bed Bath & Beyond, Michaels, and HHGregg. Close to 350-bed Doctors Hospital of Augusta and I-520/20.  Credit tenant include: Panera Bread, Verizon Wireless and Mattress Firm. 100% leased. NOI $676K/yr. $8.7M. 7.78% cap.
7. Retail Center in Phoenix, AZ: 18,009 SF retail center built in 2008 on 2+ ac lot across from Desert Sky Mall. 83% NNN leased. $2.6M. NOI/Cap not disclosed. Just over $144/SF.
8. Jack In The Box in Ontario, CA: 2,030 SF fast food restaurant on .34 ac lot in San Bernardino County. Off/on ramp of I-10. Tenant has been at this location for over 35 yrs.  Newly executed 10 yrs NNN lease. NOI $70K/yr with 8% rent increase after 5^th yr. $1.4M. 5% cap.
9. Arizona’s Steakhouse Restaurant in Lithonia, GA: 6,442 SF upscale steakhouse restaurant built in 2004 on 1.57 ac outparcel to The Mall At Stonecrest, a 1.2M SF Regional Mall near I-20 exit in fast growing Atlanta suburbs.  Tenant with 4 Arizona’s + 11 Travina Italian Restaurants. 100% NNN leased with 10 yrs left. NOI $246K/yr. with 2% annual rent bump. Price reduced to $3.1M. 7.94% Cap.  Tenant’s P&Ls showing profitable business will be available.
10. Merlin Muffler in Elgin, IL: 3312 SF well maintained auto center on .42 ac lot at busy corridor in Chicago suburbs. 100% NNN corp lease with 7 yrs left. NOI $63K/yr with next rent increase in 2015. $749K. 8.51% cap. 

© Transmercial 2013