Wednesday, August 7, 2013

07-24: Mixed-use Property, MOB, Shopping Centers, Retail Centers. Office Building



  1. Shopping Center in Jacksonville, FL: 32,837 SF mature shopping center on 3 ac lot at a hard corner location. Anchored by Family Dollar. 95% leased. NOI $299K/yr. $3M. 10% cap.
  2. Medical Office Building in Edmond, OK: 19,334 SF Class-A medical office building completed in 2002 on 2.61 ac lot in high income (AHI $101K/yr) Oklahoma City metro. Anchored by 12,462 SF Breast Imaging Center. 100% leased to 3 tenants. NOI $204K/yr. $3.1M. 6.59% Cap.
  3. Mix-used Neighborhood Center in Spring, TX: 94,628 SF attractive office/retail center on 4.52 ac lot at a hard corner location in affluent Houston suburbs with an AHI of $121K/yr in 1 mile.  $4.5+M in capital improvements in the past 2 yrs.  75% leased. Actual NOI $1.152M/yr. $15.9M. 7.25% cap. Upside potential when fully leased.
  4. Shopping Center in Dublin, OH: 22,140 SF attractive upscale shopping center built in 2008 on nearly 3 ac lot in high income (AHI $95K/yr) Columbus suburbs. Across from Mall at Tuttle Crossing, with 120 stores and near I-270. Tenants include: Mattress Firm, Noodles & Company, Don Patron Mexican Restaurant, Artemis Laser & Vein Center, Ronin Asian Bistro and Nail Spree Salon. 100% leased. NOI $659K/yr. $6.8M. 9.70% cap.
  5. Retail Center in Arlington, TX: 13,940 SF well maintained retail center built in 2005 on 1.72 ac lot in fast growing (126.45% growth) and upper middle class Fort Worth/Dallas suburbs. Across from Tarrant County College. 74% NNN leased to Subway, Campus Donuts, Air Dental, Alsafa Food Mart, Ana Moreno Salon, Too Foxi Nails and the Islamic Society Mosque. NOI $150K/yr. $1.884M. 8% cap. Upside potential.
  6. Retail Center in Rex, GA: 14,000 SF 9-unit retail center built in 2008 on 3.49 ac lot in growing Atlanta suburbs. All units face Hwy-42. 71% leased. Actual NOI $105K/yr. $1.295M. 8.18% cap.
  7. MOB in Houston, TX: 4,400 SF Class-A medical office building renovated in 2006 in densely populated area with over 400,000 residents within 5 miles. 100% leased to MRI/CT Imaging Center pending construction, Midtown Pharmacy, St. Theresa Wound Clinic, and Injury Rehab Center. NOI $92K/yr. $1.25M. 7.40% cap.

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