05-02: Walgreens, CVS, DaVita Dialysis, Bank-owned Retail Center, MOB

1. Walgreens (S&P: BBB) in South Bend, IN: 14,550 SF drug store with double drive-thru lanes built in 2007 on 1.80 ac lot at a hard corner location. Along busy (16,410 VPD) retail corridor and near I-80/90. 25 yrs NNN corp lease with 19 yrs left. NOI $395K/yr. $6.58M. 6% cap. 
2. CVS in Oak Forest, IL: 13,225 SF double drive-thru CVS pharmacy built in 2009 on 1.34 ac lot in Chicago suburbs. Between Train Transit Station and 600+bed Oak Forest Hospital of Cook County. 25 yrs absolute NNN lease. NOI $387K/yr with 3% rent bumps every 5 yrs. $6.47M. 6% cap.
3. Strip Center in Lauderhill, FL: 9750 SF well maintained strip center in Fort Lauderdale metro.  Easy access to  I-95. 100% leased. NOI $131K/yr. $1.575M. 8.35% cap.
4. MOB in Weston, FL: 30,100 SF Class-A medical office building constructed in 2000 on 3+ ac lot in affluent (AHI $131K/yr within 1 mile) Fort Lauderdale suburbs. Anchored by a highly profitable surgical center occupying almost 50 percent of the building.  Close to Cleveland Clinic Florida Weston and I-75. 100% leased to medical tenants. NOI $775K/yr. $10M. 7.75% cap.
5. Retail Center in Snellville, GA: 17,000 SF attractive retail center built in 2007 on 1.70 ac lot in growing and high income (AHI $83K/yr) Atlanta metro. Across from Snellville Pavilion, an upscale community center with hhgregg, Belk, Kohl’s and Staples. Near 247-bed Eastside Medical Center. 100% leased. NOI $364K/yr. $4.56M. 8% cap.
6. DaVita Dialysis in Fort Myers, FL: 9000 SF newly constructed dialysis center on 1 ac lot in fast growing area. Along major thoroughfare. New 10yr NNN- corp lease with 9½yrs left. NOI $85K/yr with 3% annual rent increases. $1.43M. 6% cap.
7. Bank-owned Retail Center in Chicago, IL: 17,874 SF well maintained retail center at a corner location in high income (AHI $97K/yr in 1 mile) neighborhood. 96% leased. NOI $207K/yr. $1.85M. 11.20% cap.
8. Shopping Center in Murrieta, CA: 51,517 SF upscale shopping center built in 2002 on 5 acres of land in high-growth, high-income city in Riverside County. Across from Walmart and a regional center with Home Depot, Big Lots and Best Buy. Off/on ramp I-15. Close to Rancho Springs Medical Center. 100% leased. NOI $530K/yr. $7.595M. 6.99% cap.
9. Shopping Center in Rancho Cucamonga, CA: 34,697 SF consisting of three buildings shopping center built in 1991 on 3.91 ac lot at a signalized intersection on a major artery. Current tenants include the Bright Star Thai restaurant, Enterprise Rent-A-Car, Competitive Edge Cyclery and Universal Martial Art. NOI $519K/yr. $5.5M. 9.44% cap.
10. MOB in Portland, OR: 3520 SF well maintained medical office building on .42 ac lot in fast growing area. Close to I-84/205. 100% NNN lease to Willamette Dental Group. NOI $76K/yr. $925K. 8.30% cap.

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