06-26: Johnny Carino's, MOB's, Apartments, Retail Centers

1. Retail Center in Smyrna, TN: 16,276 SF retail center in fast growing Nashville suburbs. Adjacent to 415,000 SF Power Center anchored by Super Target. Across from TriStar StoneCrest Hospital and near I-24. NNN leases. NOI $325K/yr. $3.575M. 9.10% cap.
2. Apartments in Clovis, CA: 59-unit well-maintained apartment complex on 2 ac in Fresno suburbs. Close to park & shopping centers. 97% occupied. Pro forma NOI $221K/yr. $2.95M. 7.50% pro forma cap.
3. Johnny Carino’s in Lake Charles, LA: 6532 SF Italian Restaurant built in 2003 on 1.57 ac lot at major retail artery. Next to Lowe’s, across from Walmart Supercenter and close to I-210. 17 yrs absolute NNN corp lease with 7+ yrs left. NOI $173K/yr with 1% annual rent bumps. $2.105M. 8.25% cap.
4. MOB in San Jose, CA: 11,815 SF medical office building on .92 ac corner lot. Across from Regional Medical Center. $2.95M.
5. MOB in Orlando, FL: 10,080 SF Class-A medical office building completed in 2006 across from Florida Hospital East Orlando. Close to Expy-16. 100% leased to credit tenants. NOI $233K/yr. $3.1M. 7.52% cap.
6. Shopping Center in Citrus Heights, CA: 65,408 SF well maintained shopping center anchored by Burlington Coat Factory in fast growing Sacramento suburbs. Shadow anchored by Kohl’s and Ross. 100% NNN leased. NOI $596K/yr. $7.45M. 8% cap.
7. Retail Center in Toledo, OH: 10,000 SF retail center built in 2005 on over 1 ac lot at a hard corner location. Shadow anchored by Walmart Supercenter and near University of Toledo Medical Center. 100% NNN leased. NOI $148K/yr. $1.651M. 9% cap.
8. Retail Center in Richmond, CA: 12,255 SF attractive retail center in high income Contra Costa County. Close to Hilltop Mall. Tenants include: Quizno's, The UPS Store, Round Table Pizza and others. Pro forma NOI $358K/yr. $3.3M. 10.85% Pro forma cap.
9. MOB in Sheffield Village, OH: 23,726 SF Class-B medical office building constructed in 2006 on 1.68 ac lot in upper middle-class Cleveland suburbs. Anchored by Superior Medical Care. 100% leased. NOI $443K/yr. $5.28M. 8.40% cap.

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