05-29: Gander Mountain, Rite Aid, Pier 1 Imports, Office Building

1. Retail Center in Carrolton, TX: 10,000 SF attractive retail center built in 2004 with excellent exposure along dominant traffic corridor. Across from Kroger grocery and Walmart Market. 100% NNN leased to Quiznos, Dunking Donuts/Basking Robbins, Wing Town, Chiro One Wellness Center and Bahama Bucks. NOI $188K/yr. $2.45M. 7.75% cap.
2. Retail Center in Katy, TX: 17,500 SF retail center built in 2005 on 1.59 ac lot at main corridor and in fast growing and affluent Houston metro with an AHI of $152K/yr within 1 mile.  92% NNN leased with only 1 vacant unit. Pro forma NOI $367K/yr. $4M. 9.19% pro forma cap.
3. Gander Mountain in Kentwood, MI: 33,032 SF recently renovated single tenant retail center on nearly 17 acres of land in Grand Rapids suburbs. Across from Sam’s Club and near I-96. Tenant has been at this location for 17+ yrs. 10 yrs NNN- corp lease with 7 yrs left to Gander Mountain, largest retailer of hunting fishing & camping gears with 113 locations. NOI $297K/yr with a rent bump in 2015. $3.5M. 8.5% cap.
4. Retail Buildings in Modesto, CA: 34,327 SF Savemart grocery and 13,905 SF drive-thru Walgreen’s on 4.79 acres of land. Close to Hwy-99. 100% NNN- corp leases. NOI $383K/yr. $5.8M. 6.6% cap.
5. Shopping Center in Lakewood, CO: 29,605 SF attractive shopping center anchored by a built-to-suit DaVita Dialysis Center in growing Denver suburbs. NOI $320K/yr. $4.325M. 7.41% cap.
6. Rite Aid in Flushing, MI: 11,180 SF double drive-thru drug store built in 2003 on 2+ ac lot at a hard corner location in Flint suburbs. Across from Kroger grocery. 20 yrs NNN- corp lease with 10+ yrs left. NOI $311K/yr. $3.42M. 9.10% cap.
7. Retail Center in Puyallup, WA: 16,800 SF retail center on 1.16 ac lot  in fast growing & affluent (AHI $101K/yr) Seattle suburbs. 86% leased. NOI $381K/yr. $5.091M. 7.50% cap.
8. Shopping Center in Las Vegas, NV: 50,559 SF well maintained mature shopping center on 3.68 ac lot at a signalized major intersection. Close to The Strip and I-15. 85% leased. NOI $738K/yr. $8.2M. 9% actual cap. Upside potential.
9. Pier 1 Imports in Charlotte, NC: 12,000 SF single tenant retail building on .69 ac lot along main retail corridor and in high income area. Close to I-77. 100% NNN lease with 5 yrs left. NOI $120K/yr. $1.375M. 8.73% cap.  
10. Office Building in Houston, TX: 14,350 SF well maintained office building in high income area with an AHI of $109K/y in 1 mile. Close to Healthbridge Childrens Hospital.  100% leased to multiple tenants. NOI $151K/yr. 1.89M. 8% cap.

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