Friday, May 17, 2013

05-03: Neighborhood center, Walgreens, CVS, Golds Gym for sale


  1. Neighborhood Center in Phoenix, AZ: 98,068 SF well-kept center anchored by Sprouts Farmers Market, and Walgreens.  Close to I-17.  100% NNN leased to 16 tenants.  NOI $1+M.  $15.76M. 7% cap. 
  2. Walgreens in Waterford, MI: 14,490 SF drugstore built in 2002 on 2.57 ac corner lot near Pontiac.  100% NNN- with 9 yrs left.  NOI $474K/yr. $6.55M. 7.25% cap. 
  3. Gold’s Gym in Live Oak, TX: 40,000 SF fitness center built in 2005 on 3.53 ac lot in San Antonio metro.  Easy access to I-35 and Loop 1604.  Close to the Forum at Olympia Parkway center.100% absolute NNN leased till 2020 with low rent.  NOI $500K/yr with 10% rent bumps in 2015.  $6.3M. 7.94% cap.
  4.  Retail Village in Orland Park, IL: 12,085 SF upscale retail village in affluent Chicago suburbs with easy access to I-80.  Built in 2008 on 1.15 ac corner lot.  85% NNN leased to Thai Fried Rice, Great Clips, Anytime Fitness and Heartland Dental Care with 1 avail unit.  Current NOI $158K/yr. $1.946M. 8.14% cap. Upside potential when fully-leased. 
  5. CVS in Orlando, FL: 14,145 SF CVS (S&P rating of BBB+) with double-drivethru on 1.41 ac lot at a signalized high-traffic corner in high income area.  100% absolute NNN lease with 10 yrs left.  NOI $354K/yr. $5.066M. 7% cap.


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