05-20: Bright Horizons, Econo Lube, Sombrero, Jack In The Box, Arby's

1. Shopping Center in Brentwood, CA: 22,950 SF consisting of two retail centers completed in 2003 on nearly 2 ac lot at a hard corner location in high income San Fran East Bay area. Across from Food Maxx. 68% NNN leased to 12 tenants. NOI $290K/yr. $4.21M. 6.90% cap. 
2. MOB in San Leandro, CA: 29,085 SF Class-B recently remodeled medical office building on 1.56 ac lot next to San Leandro Hospital in Silicon Valley. 88% leased. NOI$247K/yr. $4.75M. 5.20% cap.
3. Red Robin in Lawrenceville, GA: 6,350 SF restaurant built in 2006 at a main retail corridor in fast growing and high income Atlanta suburbs. Adjacent to The Avenue Webb Gin Shopping Center. 15 yrs absolute NNN corp ground lease (land for sale) with 8 yrs left. NOI $132K/yr with 10% rent bumps every 5 yrs. $1.885M. 7% cap.
4. Bright Horizons in Kendall Park, NJ: 8500 SF child care facility on 2 ac lot at a major thoroughfare in affluent (AHI $119K/yr within 3 mile) New York suburbs. 10 yrs NN corp lease with 8 yrs left. NOI $215K/yr. $2.774M. 7.75% cap.
5. Rite Aid in Charlotte, NC: 13,824 SF two lane drive-thru pharmacy on 1.45 ac lot at a signalized intersection in fast growing (96.76% pop growth) and high income (AHI $92K/yr) area. 100% NNN lease with 10 yrs left. NOI $326K/yr. $3.961K. 8.25% cap.
6. Econo Lube ‘N Tune & Brakes in San Antonio, TX: 3497 SF well kept six bay auto repair center on .34 ac lot next to I-410. 100% absolute NNN corp lease with 5 yrs left. NOI $82K/yr. $1.141M. 7.25% cap.
7. Sombrero Mexican Restaurant in Yuma, AZ: 2907 SF drive-thru Mexican restaurant on .91 ac lot at a main corner location. Close to 369-bed Yuma Regional Medical Center. 10 yrs absolute NNN lease with 7 yrs left to a tenant with 20 locations. NOI $74K/yr. $875K. 8.50% cap.
8. Jack in the Box in Garland, TX: 3152 SF well maintained fast food restaurant on .80 ac lot at a major retail artery in Dallas suburbs. Close to I-635. 100% NNN corp lease with 9 yrs left. NOI $88K/yr. $1.468M. 6% cap.
9. Arby’s in Chesterfield, MI: 3259 SF Arby’s restaurant on 1.24 ac lot in growing and upper middle-class Detroit suburbs. New 20 yrs absolute NNN ground lease (land for sale) to an experienced franchisee. This is a sale & leaseback investment. NOI $126K/yr with 5% rent bumps every 5 yrs. $1.575M. 8% cap.
10. Neighborhood Center in El Centro, CA: 47,010 SF neighborhood center on 2.45 ac lot along main artery in a growing city. 100% leased to Big 5, Border Tac-tical, Phoenix Uniforms, Palama’s Furniture and El Centro Fitness. NOI $402K/yr. $5.5M. 7.31% cap.

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