07-25: Fresenius, Walgreens, Denny's, DaVita, Professional Plaza

1. Fresenius Medical Care in Jacksonville, FL: 6390 SF dialysis center redeveloped in 2013 on .92 ac lot close to four major medical centers. New 15 yrs NNN- corp lease. NOI $154K/yr with 1.7% annual rent increases. $2.47M. 6.25% cap.
2. Walgreen’s in Portage, IN: 13,905 SF well maintained Walgreen’s built in 1999 on 4+ ac lot at a hard corner location in a coastal town Southeast of Chicago. Along Hwy-6. Across from Walmart and Kmart. 20 yrs NNN- corp lease with 5 yrs left. NOI $282K/yr. $3.773M. 7.50% cap.
3. Denny’s in North Palm Springs, CA: 4400 SF attractive franchised Denny’s restaurant on nearly 1 ac lot near off/on ramp of I-10. Tenant has been at this location since 1991. 18 yrs recently extended lease. NOI $61K/yr with 1.5% annual rent increases. $885K. 7% cap.
4. Office Building in Glen Rock, NJ: 65,544 SF Class-B office building on 3.80 ac lot in densely populated New York suburbs. 100% leased to 18 tenants. NOI $887K/yr. $11.95M. 7.43% cap.
5. Office Building in Swansea, IL: 27,945 SF Class-A office building completed in 1992 on 2.46 ac lot in high income (AHI $86K/yr) East St. Louis suburbs. Along main thoroughfare. 100% leased to long term tenants. NOI $322K/yr. $3M. 10.76% cap.
6. DaVita Dialysis in Fort Myers, FL: 9,000 SF dialysis center built in 2008 on 1 ac lot in fast growing area. Along major thoroughfare. New 10yr NNN- corp lease. NOI $85K/yr with 3% annual rent increases. $1.43M. 6% cap.
7. Office Building in La Habra, CA: 29,935 SF Class-B foreclosed office building on a major artery in densely populated city in Orange county. At a high income area with an AHI of $98K/yr in 3-miles. 47% leased. Actual NOI $271K/yr. $2.6M. 10.46% actual cap.
8. Professional Plaza in Phoenix, AZ: 35,500 SF well maintained professional plaza on 3+ ac outparcel to Desert Sky Mall and near I-10. 74% occupied with CareMore Medical, Lens Crafters, Sonora Quest Laboratories, Smile Fitness Dental Center, CAS Chiropractic and others. NOI $326K/yr. $4.495M. 7.26% cap. Upside potential.
9. Retail Center in Coral Springs, FL: 11,142 SF retail center along major retail corridor. Across from Coral Square Mall. 6.85% cap. NOI/Price not disclosed.

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