Friday, April 12, 2013

03-29: Trader Joe's center, Office building for sale


  1. Office Building in Louisville, KY: 60,000 SF class-A office building next to I-71 exit in high income area.  95% leased to 2 tenants: The Galen School of Nursing with 4 locations in 4 states, and Webster University, with 100+ locations around the world. NOI $706K/yr. $8.364M. 8.5% cap. 
  2. Shopping Center in Plainfield, IN: 26,807 SF shopping center in fast growing and high income area in Indianapolis suburbs.  Adjacent to 550,000 SF Metropolis Lifestyle Center.  95% leased.  NOI $358K/yr. $4.4M. 8.15% cap.  Buyer to assume $3.74M loan (85% LTV). 
  3. Shopping Center in Irving, TX: 29,958 SF mature shopping center directly across from Fiesta Grocery anchored shopping center and Aldi in Dallas metro.  100% NNN leased to 9 tenants with low average rents.  NOI $279K/yr. $3.382M. 8.25% cap. 
  4. Retail Center in Arlington, TX: 19,111 SF retail center adjacent to 1.5MM SF 180-store The Park at Arlington Mall.  100% leased to 3 tenants: Car Toys with 50 stores in 4 states, Regency Beauty Institute with locations in 6 states and Uptown Cheapskate with stores in 12 states.  NOI $351K/yr. $4.02M. 8.75% cap. 
  5. Shopping Plaza in Everett, WA: 24,800 SF center built in 1985 on 1.63 ac lot near Everett Mall in Seattle metro.  100% NNN leased to 3 national tenants: Trader Joes, Dollar Tree, and Family Christian Store.  NOI $358K/yr. $4.5M. 8% cap.  Note: no state income tax in WA.


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