Friday, July 26, 2013

07-12: Shopping centers, apartments, Office building, Restaurant, Autozone

  1. Shopping center in Kennewick, WA: 124,896 SF retail complex on 13.9 ac lot near Columbia Center Mall in a growing city.  Anchored by Amazon.com and Hobby Lobby.  Surrounded by Costco, Burlington Coat Factory,  Best Buy, Ross, Michaels, and more.  93% leased.  NOI $843K/yr. $10.6M. 7.96% cap. 
  2. Apartments in Oakland, CA: 96-unit value-add apartments on almost 3 ac lot with mature landscaping & security gates.  100% occupied.  NOI $385K/yr. $5.5M. 7% cap. 
  3. Hooters in Tuscaloosa, AL: 3520 SF restaurant built in 2000 on 1 ac outparcel to Lowe’s.  Easy access to I-20 and Hwy 69.  20 yrs absolute NNN lease with 6.5 yrs left.  NOI $121K/yr with 8% rent bump in 2015.  $1.643M. 7.36% cap. 
  4. Office Building in Austin, TX: 54,664 SF 5-yrs old class-A office building complex  on 7 ac lot in affluent (AHI $153K/yr in 1 mile) Austin suburbs.  84% leased.  7.75% cap.  NOI/Price not avail. 
  5. Restaurant in Rolling Meadows, IL: 9120 SF restaurant on 1.54 ac outlot to Walmart near 1.9MM SF Woodfield Mall in Chicago metro.  Tenant just spent $600K on new build out.  New 5 yrs NNN lease to Flaming Grill Buffet with 12 locations in 6 states.  NOI $136K/yr. $1.52M. 9% cap. 
  6. Apartments in Seattle, WA: 15-unit 2-story apartments heavily renovated in the last 5 years.  1 block from Westcrest Park and Highland Park Elementary, one of Seattle' s premier elementary schools. NOI $100K/yr. $1.335M. 7.5% cap. 
  7. Autozone in Lincoln, CA: 6967 SF build-to-suit Autozone completed in 2010 in Sacramento suburbs. 10 yrs corp NNN- lease with 7 yrs left.  NOI $62K/yr. with rent bumps each of 5 yr options.  $1.05M. 5.9% cap.


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