07-23: Jonny Carino's, Meineke Auto Center, Medical Condo, Retail Centers

1. Retail Center in Arlington, TX: 16,490 SF attractive retail center built in 2003 on 1.76 ac lot in fast growing and high income (AHI $90K/yr in 1 mile) Dallas/Fort Worth suburbs. Tenants include: Dentist, Tan Spa, Taekwondo, Edward Jones & Co. Kumon, Little Caesar’s Pizza, Nail Salon, Great Skin and J. Michael Lloyd, DDS, MDS, PC.  94% NNN leased with only one small vacancy. NOI $225K/yr. $2.6M. 8.67% cap.
2. Office Building in Houston, TX: 70,474 SF well maintained office building on 4+ ac lot along major retail corridor. Close to 251-bed Methodist Willowbrook Hospital, Willowbrook Mall and Pkwy-249. 100% leased to multiple tenants. NOI $742K/yr. $7.5M. 9.90% cap.
3. Shopping Center in Vero Beach, FL: 57,915 SF maintained shopping center at a hard corner location anchored by high performing Winn Dixie grocery. 98% NNN leased to national/local tenants. NOI $512K/yr. $6.73M. 7.62% cap.
4. Retail Center in Chicago, IL: 11,185 SF retail center built in 2001 on .91 ac lot at a highly visible location. Near Metro station. 100% leased to Chase Bank, Subway, Currency Exchange, Yale Insurance and 87^th St. Discount. $2.15M. NOI/Cap not provided.
5. Shopping Center in Lansing, MI: 27,852 SF eye-catching shopping center completed in 2008 on nearly 4 ac lot with tremendous visibility. With easy access to I-69 and Hwy-127. 98% leased to AAA Insurance, Dunkin' Donuts, Xiao China Grille & Lounge, Regency Beauty Institute, Batterie's Plus and Jude's Barbershop. NOI $441K/yr. $5.967M. 7.40% cap.
6. Jonny Carino’s in Lake Charles, LA: 6,532 SF Italian Restaurant built in 2003 on 1.57 ac lot at major retail corridor. 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.
7. Meineke Auto Center in Peabody, MA: 7069 SF auto center at busy corridor in high income Boston suburbs. Close to I-95. Tenant has been at this location for roughly 25 yrs.100% NNN leased with 2 yrs left. NOI $115K/yr. $1.491M. 7.75% cap.
8. Retail Center in Miami, FL: 17,156 SF mature shopping center on over 1 ac corner lot adjacent to Power Center anchored by Kmart and Marshall’s. 100% leased. NOI $263K/yr. $3.2M. 8.22% cap.
9. Strip Center in Tinley Park, IL: 4800 SF attractive strip center outparcel to Menard’s home improvement store in high income Chicago metro. Along major retail artery. 100% leased to two tenants. NOI $85K/yr. $1.064M. 8% cap.
10. Medical Office Condo in Roseville, CA: 4057 SF Class-A medical office condo building in fast growing (484.37% pop growth since 2000) and affluent (AHI $116K/yr in 1 mile) Sacramento suburbs. Close to Kaiser Permanente and I-80. 100% leased to Sutter Medical Foundation with 4+ yrs left. NOI $61K/yr with CPI annual rent increases. $799K. 7.75% cap.

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