Friday, June 7, 2013

05-24: In-line Shopping Centers, Office Buildings, Retail Centers



  1. Retail Center in Deer Park, TX: 10,761 SF attractive retail center in fast growing and high income Houston suburbs. Credit tenants include: Verizon & Baskin Robbins.100% NNN leased. NOI $220K/yr. $2.85M. 7.75% cap.
  2. Strip Center in Mobile, AL: 12,960 SF strip center built in 2005 on 1.46 ac outparcel to Lowe’s at a dominant retail corridor. Close to I-10. Across from Walmart supercenter. 81% NNN leased. NOI $202K/yr. $2.526M. 8% cap. Upside potential.
  3. In-line Shopping Center in Arroyo Grande, CA: 26,941 SF shopping center on 2.52 ac lot at a hard corner location in Southern California coastal city. Shadow anchored by Dollar Tree and Smart & Final. $3.4M. NOI/Cap not provided.
  4. Orchard Supply Hardware in Fairfield, CA: 43,896 SF single tenant big box renovated in 2007 on 4 acres of land in Northern CA. 20 yrs absolute NNN lease with 15 yrs left. NOI $805K/yr with strong 11% rent bumps every 5 yrs. $11.1M. 7.26% cap.
  5. Office Building in Oxnard, CA: 20,714 SF Class-B office building completed in 1990 on 1.56 acres lot in high income Southern California.  97% leased to multiple tenants.  NOI $320K/yr.  $3.3M. 9% cap.
  6. Office Building in Overland Park, KS: 9536 SF Class-B office building constructed in 1998 on .72 ac lot in fast growing (7.95% growth since 2000) and affluent (AHI $129K/yr within 3 mile) Kansas City suburbs. Across from Costco and St. Luke’s South Hospital. Near 3,900,000 SF Sprint World Headquarters. 100% leased to four tenants. NOI $138K/yr. $1.3M. 10.70% cap.
  7. Retail Center in Vero Beach, FL: 13,000 SF retail center on 1.33 ac lot at main entrance to 860,000 SF Indian River Mall. 78% leased. NOI $256K/yr. $2.675M. 9.60% cap. Upside potential when fully leased.
  8. Retail Center in Grayson, GA: 33,125 SF 6-yrs old high quality construction retail center in fast growing and high income Atlanta suburbs. 90% NNN leased. NOI $550K/yr. $5.799M. 9.50% cap.
  9. Office Buildings in Lawrenceville, GA: 12,000 SF Class-A office buildings on 1 ac lot in fast growing Atlanta suburbs. Along Hwy-29/8. 100% leased to stable long term tenants. NOI $140K/yr. $1.3M. 10.80% cap.

© Transmercial 2013
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