04-16: MOB, LA Fitness, Pacific Dental, Del Taco

1. MOB in Bakersfield, CA: 27,263 SF 3-story Class-B medical office building on 1.62 ac lot at a major artery. Close to Bakersfield Heart Hospital and easy access to Hwy-99/58. 100% leased to four tenants. NOI $439K/yr. $6.25M. 7.03% cap.
2. LA Fitness in Huntington Park, CA: 30,000 SF fitness center built in 2005 on 1.32 ac lot at a hard corner location and in densely populated area with over 1,000,000 residents within 5 miles. 15 yrs NNN corp lease with 7 yrs left. NOI $593K/yr. $9.35M. 6.34% cap.
3. Pacific Dental in Phoenix, AZ: 6030 SF single tenant building on .78 ac lot in fast growing and high income area. Close to Happy Valley Towne Center. 30 yrs absolute NNN ground lease (land is for sale) with 26 yrs left plus a billboard lease with 15 yrs left. NOI $140K/yr with 10% rent increases every 5 yrs.  $2.333M. 6% cap.
4. Strip Center in Anaheim, CA: 5124 SF well kept strip center at a busy retail corridor and in upper middle-class area. Across from neighborhood center anchored by Sally Beauty Supply, Goodwill, Kmart and 99 Cents Only Store. 100% leased to eight tenants. NOI $105K/yr. $1.5M. 7% cap.
5. Retail Center in Aurora, CO: 6422 SF 3-units attractive retail center built in 1998 on .65 ac outparcel to Sam’s Club in growing Denver suburbs. Adjacent to Walmart, Home Depot and next to I-225. Close to Town Center at Aurora with 150+ stores. 100% leased. $1.295M. NOI/Cap not provided.
6. Shopping Center in Grandview, MO: 36,240 SF shopping center just next to Hwy-71 exit in Kansas City suburbs. 90% leased to strong regional and national tenants such as Liberty Tax Service, Rent a Center, and Sprint Wireless. NOI $308K/yr. $3.336M. 9.25% cap.
7. Del Taco in Pittsburg, CA: 2691 SF Del Taco restaurant on .74 ac lot in a stable city East of San Francisco. Across from Power Center anchored by Maya Cinemas, Burlington Coat Factory and Target. Near Somersville Towne Center. On/off ramp Hwy-4. 100% NNN lease to strong franchisee with 10 units. NOI 102K/yr. $1.7M. 6% cap.
8. Retail Center in Comstock Park, MI: 24,000 SF retail center built in 1999 on 1.80 ac lot at major retail corridor in Grand Rapids suburbs. Close to Menards grocery, Walmart and Sam’s Club. NNN leases. NOI $131K/yr. $1.5M. 9% cap.

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