06-17: Hooters, Family Dollar, Shopping Centers, MOB

1. Shopping Center in Plano, TX: 126,838 SF well maintained shopping center on nearly 10 ac lot at a major retail corridor in growing Dallas suburbs. Anchored by a 18,000 SF Aldi Grocery, a global discount supermarket chain; 6525 SF Firestone Tires store; 27,956 SF Locke Supply Co, a regional tenant; 36,200 SF Family Thrift Store, a regional tenant. 99% leased to 23 tenants. NOI $953K/yr. $11.995M. 8% cap.
2. Retail Center in Fort Worth, TX: 8220 SF attractive retail center built in 2004 on .86 ac lot in densely populated area. Included vacant lot across the street. 82% leased. NOI $79K/yr. $895K. 8.88% cap.
3. Hooters in Sanford, FL: 5,000 SF Hooters Restaurant on 1.46 ac outparcel to 1,000,000 SF Seminole Towne Center and on/off ramp of I-4 in Orlando suburbs. 20 yrs NNN lease with 13 yrs left. NOI $211K/yr with 10% rent bumps every 5 yrs. $2.85M. 7.20% cap.
4. REO’ed Retail Center in Placerville, CA: 18,288 SF attractive bank-owned retail center built in 2006 at a signalized intersection across from Wal-Mart in growing city East for Sacramento. NNN leases. Pro forma NOI $252K/yr. $3M. 8.53% pro forma cap.
5. MOB in Livonia, MI: 20,200 SF medical office buildings in high income Detroit suburbs with an AHI of $83K/yr within 1 mile. 100% leased to The University of Michigan Livonia Heath Center, Bostford Hospital, LIV Imaging and Dr. William Kloote, DDS. NOI $262K/yr. $2.661M. 9.87% cap.
6. Family Dollar in Mesquite, TX: 8000 SF Class-A all brick retail building on 1.65 ac lot adjacent to CVS and 7-Eleven in fast growing Dallas suburbs. 100% NNN- lease with 9 yrs left. NOI $138K/yr. $1.737M. 7% cap.
7. Shopping Center in Cheyenne, WY: 29,329 SF well kept shopping center built in 2005 on 2.83 ac lot near I-25 on/off ramp. Excellent demographics with AHI $96K/yr in 1 mile. 100% leased to twelve tenants. NOI $469K/yr. $5.87M. 8% cap.
8. Shopping Center in Rancho Cucamonga, CA: 83,184 SF attractive shopping center on 6½ ac lot part of 611,000 SF Terra Vista Town Center in high income San Bernardino County. NNN leased to Michaels, HomeGoods and Old Navy. NOI $721K/yr. $9.882M. 7.30% cap.
9. Retail Center in Suwanee, GA: 11,200 SF attractive retail center on 1.56 ac lot next to CVS pharmacy in fast growing and affluent (AHI $131K/yr in 1 mile) Atlanta metro. Across from Kroger grocery center. 94% NNN leased. NOI $176K/yr. $2.1M. 8.42% cap.
10. Shopping Center in Keizer, OR: 76,649 SF shopping center renovated in 2004 anchored by Goodwill in growing Salem suburbs. 96% NNN leased. NOI $777K/yr. $10.03M. 7.75% cap.

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