03-20: Red Robin, Arby's, Shopping Centers

1. Red Robin in Cordova, TN: 6381 SF Red Robin Restaurant built in 2007 on 1.68 ac lot at a major retail corridor in high income Memphis suburbs. 15 yrs absolute NNN corp ground lease (land for sale) with 9 yrs left. NOI $137K/yr with 10% rent bumps every 5 yrs. $2.037M. 6.75% cap.
2. Professional & MOB in Ann Arbor, MI: 28,600 SF Class B consisting of two professional & medical center built in 1993 on 6.55 ac lot at a main corridor. Close to I-94. NOI $355K/yr. $3.55M. 10.02% cap.
3. Arby’s in Norcross, GA: 3381 SF well maintained Arby’s Restaurant on .75 ac lot on/off ramp I-85 and across from Lowe’s in fast growing Atlanta suburbs. 20 yrs absolute NNN corp lease with 7+ yrs left. NOI $152K/yr with 4% rent increases every 2 yrs. $1.88M. 8.08% cap.
4. 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-standing1,850 SF drive-thru Starbucks Coffee, 1,777 SF Game Stop and 1,973 SF Sunshine Nails. 100% NNN leased. NOI $155K/yr. $2.187M. 7% cap.
5. Neighborhood Center in Chino, CA: 64,076 SF shopping center on 6+ ac lot anchored by 24 Hour Fitness at a major retail corridor in San Bernardino County. Across from Chino Town Square Center, anchored by Burlington Coat Factory, DD’s Discount, JoAnn’s Fabrics, Ross and Target. Near Hwy-60. 71% leased. NOI $720K/yr. $9M. 8.01% cap.
6. Shopping Center in Matteson, IL: 61,437 SF attractive shopping center in growing and upper middle class Chicago suburbs. Adjacent to Lincoln Mall and near I-57.  93% NNN leased to Jimmy John’s, Verizon Wireless, DaVita Dialysis, Family Christian Stores, ATI Physical Therapy and many more.  NOI $877K.  Expected price $8M. 10+% cap..
7. Retail Center in Las Vegas, NV: 20,147 SF eye-catching retail center built in 2004 on 1+ ac lot at a hard corner location. Shadow anchored by Lowe’s and HomeGoods. Across from St. Rose Dominican Hospital-Siena. 96% leased. NOI $484K/yr. $6.75M. 7.18% cap.
8. Retail Building in Las Vegas, NV: 9105 SF Class B retail building constructed in 1998 along major retail corridor and in high income area. 100% NNN leased to Discount Tire and Dynamic Sport & Spine. NOI $111K/yr. $1.29M. 8.63% cap.

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