09-16: IHOP, JCPenny, Rite Aid, Goodyear, Apartments, Retail Centers

1. MOB in Phoenix, AZ: 6,450 SF attractive medical building completed in 2007 on .66 ac lot in densely populated area. Close to St. Joseph’s Hospital & Medical Center. This is a sale-leaseback investment. New 15 yrs absolute NNN lease. NOI $205K/yr with annual rent increases. $2.934M. 7% cap.
2. IHOP in Plant City, FL: 5,108 SF recently remodeled IHOP restaurant on .82 ac lot at a hard corner location in Tampa suburbs. New 15 yrs NNN lease to strong franchisee with 9 units. NOI $120K/yr with rent increases. $1.655M. 7.25% cap.
3. JCPenny in Las Vegas, NV: 98,642 SF big box retail building completed in 2006 on 7.31 ac lot at a major corridor in a high income area with an AHI of $93K/yr in 1 mile. Within the 167,557 SF Grand Canyon Parkway, with Target, Kohl’s and Sears. 20 yrs NNN corp ground lease (land for sale) with 13 yrs left. NOI $350K/yr. $5.185M. 6.75% cap.
4. Rite Aid in Palm Desert, CA: 17,272 SF drug store built in 2006 on 1.78 ac lot in high income (AHI  $96K/yr in 1 mile) Riverside County. Close to I-10.  20 yrs NNN corp lease with 13+ yrs left.  NOI $525K/yr. $7.245M. 7.25% cap.
5. Goodyear in Cypress, TX: 9000 SF retail building constructed in 2007 on 1.41 ac lot in a fast growing (968.32% pop growth since 2000) and affluent (AHI $117K/yr in 1 mile) Houston suburbs. 100% NNN corp lease with 9+ yrs left. NOI $169K/yr. $2.425M. 7% cap.
6. MOB in Sunnyvale, TX: 11,807 SF Class-A consisting of two medical buildings completed in 2008 in high income Dallas suburbs. 100% NNN leased. NOI $276K/yr. $3.1M. 8.92% cap.
7. Shopping Center in Reno, NV: 80,137 SF shopping center anchored by 47,140 SF Scolari’s supermarket at an off/on ramp of I-580. 97% leased. Offering includes adjacent In-N-Out Burger. Pro forma NOI $924K/yr. $13.5M. 7.6% pro forma cap.
8. Shopping Center in Glendora, CA: 38,126 SF attractive shopping center on over 3 ac lot at a signalized corner location in high income (AHI $94K/yr) Los Angeles suburbs. 80% leased. NOI $366K/yr. $5.2M. 7.06% cap.
9. Apartments in Alameda, CA: 10-unit spacious 2-bed/1-bad multifamily complex in high income (AHI $92K/yr) San Francisco suburbs . Close to College of Alameda. 100% occupied. NOI $107K/yr. $1.925M. 5.60% cap.
10. Shopping Center in Lilburn, GA: 20,478 SF well maintained shopping center along Hwy-78. In a fast growing and high income town just East of Atlanta. 90% NNN leased. NOI $232K/yr. $2.58M. 9% cap. Upside Potential when fully leased. 

© Transmercial 2013

09-13: Chipotle Mexican Grill, Advance Auto Parts, Best Buy, Dicks Sporting Goods, Apartments, MOB

1. Shopping Center in North Richland Hills, TX: 65,611 SF 3-unit shopping center built in 2000 on 5+ ac lot in fast growing and affluent (AHI $135K/yr in 1 mile) Ft Worth/Dallas suburbs. Across from Walmart Supercenter.  Anchored by a 35,370 SF Ross Dress For Less and 10,011 SF Family Dollar. 77% NNN leased. Actual NOI $254K/yr. $4.25M. 6% actual cap. Upside potential.
2. Strip Center in Saint Joseph, MO: 7956 SF strip center built in 2007 outparcel to Power Center with Walmart, Home Depot, Sam’s Club, Target, Kohl’s and TJMaxx. Close to I-29. 100% leased to Buffalo Wild Wings, Sprint and Allure Nails. NOI $195K/yr. $2.441M. 8% cap.
3. Shopping Center in Antioch, TN: 50,165 SF shopping center built in 1990 on 6+ ac lot anchored by Food Lion grocery in growing Nashville suburbs. Close to an on/off ramp of I-24. 84% leased. Pro forma NOI $245K/yr. $2.3M. 10.65% pro forma cap.
4. Chipotle Mexican Grill in Quincy, MA: 3058 SF casual restaurant built in 2008 at signalized intersection in high income Boston metro. 100% NNN leased with 5 yrs left. NOI $135K/yr. $2.2M. 6.25% cap.
5. Strip Center in Chandler, AZ: 6695 SF attractive strip center built in 2005 on .91 ac lot in fast growing (187.65% pop growth since 2000) and high income (AHI $106K/yr in 3 mile radius) Phoenix suburbs. Across from Fry’s Marketplace center. 100% leased to 4 tenants. NOI $105K/yr. $1.35M. 7.85% cap.
6. MOB in Arlington, TX: 36,236 SF Class-A medical office building on 2.60 ac lot in Fort Worth suburbs. Close to 326-bed Medical Center of Arlington. NNN leased by the Texas Department of Aging and Disabled Services. Tenant is on their 2^nd 10 yrs lease till 12/2020. NOI $300K/yr. $3.755M. 8% cap.
7. Advance Auto Parts in San Antonio, TX: 6972 SF Advance Auto Parts center built in 2007 on .80 ac lot along major retail corridor. Close to Walmart. 100% NNN- corp lease with 9+ yrs left. NOI $143K/yr with a 10% rent increase in 2017. $2.052M. 7% cap.
8. Best Buy & Dicks Sporting Goods in Mesa, AZ: 95,000 SF big box retail building part of Fiesta Mall at on/off ramp of Hwy-60. Close to Banner Desert Medical Center & Mesa Community College. 100% NNN leased to 2 long-term national tenants. NOI $1.665M/yr. $18.508M. 9% cap.
9. Apartments in Tallahassee, FL: 28-unit well maintained multifamily complex in a growing area. Close to I-10. 95% occupied. Pro forma NOI $143K/yr. $1.749M. 8.20% pro forma cap. 

© Transmercial 2013

09-12: Bob Sumerel Tire & Service, Walgreens. Retail Buildings, Office Buildings

1. Retail Center in Sunnyside, WA: 14,187 SF attractive retail center built in 2006 on 1.65 ac lot along main retail corridor. Across from Super Walmart. 100% NNN leased to Pizza Hut, Anytime Fitness, Verizon Wireless and Yakima Valley Farm Workers Clinic. NOI $236K/yr. $3.16M. 7.50% cap.
2. Retail Center in Jackson, TN: 13,176 SF retail center at a hard corner location off Hwy-45 and easy access to I-40. Credit tenants include: Starbucks Coffee, Baskin Robbins, Edward D. Jones and Weight Watchers. Across from Wal-Mart and Sam’s Club and near Lowe’s, Petsmart and Best Buy. 100% leased. NOI $286K/yr. $3.364M. 8.5% cap.
3. Shopping Center in Grand Forks, ND: 49,174 SF consisting of two retail buildings completed in 1994/1997 on 6+ ac lot at a signalized corner location. Across from Columbia Mall, with 70+ stores, Walmart Supercenter and Sam’s Club. 98% leased. NOI $442K/yr. $5.2M. 8.50% cap.
4. Office Building in Oakland, CA: 13,300 SF Class-A 7-units office building close to I-80/580. 100% leased. NOI $192K/yr. $2.4M. 8% cap.
5. Retail Center in Charlotte, NC: 12,320 SF attractive retail center built in 2006 on 1.60 ac lot in a fast growing area. 100% leased. NOI $171K/yr. $2.225M. 7.7% cap.
6. Retail Center in North Lauderdale, FL: 16,044 SF well kept retail center on nearly 1 ac lot at a high traffic location and in a densely populated area with nearly 500,000 residents in 5 miles. All units face main thoroughfare. 100% leased to 13 local tenants. NOI $176K/yr. $2.21M. 8% cap.
7. Bob Sumerel Tire & Service in Middletown, OH: 5824 SF single tenant auto service center on 1+ ac lot in Cincinnati suburbs. Near I-75. 100% NNN lease with 9 yrs left. NOI $77K/yr with a 10% rent bump in 2017.  $850K. 9.20% cap.
8. Shopping Center in Newburgh, IN: 88,348 SF shopping center renovated in 2003 on 7+ ac lot in high income (AHI $90K/yr) Evansville suburbs. Anchored by a 16,766 SF Ruler Foods (guaranteed by Kroger grocery) and a 18,945 SF ACE Hardware.  95% leased with only 2 small vacancies. NOI $295K/yr. $3.325M. 8.89% cap. Upside potential.
9. Walgreens in Fayetteville, AR: 15,120 SF 24-hr drive-thru drug store built in 2001 on 2+ ac lot at a hard corner location. Close to Washington Regional Medical Center and Hwy-71. 20 yrs absolute NNN lease with 8 yrs left. NOI $390K/yr. $5.585M. 7% cap.
10. Retail Building in Hayward, CA: 2632 SF well maintained retail building between two streets with excellent egress/ingress in San Francisco Bay Area. In populated residential neighborhood. Tenants include a Mexican Restaurant and Beauty Salon. NOI $51K/yr. $880K. 5.80% cap.

© Transmercial 2013

09-11: MOB's, Drivers Auto Repair, DaVita, Office Building

1. MOB in Gary, IN: 37,719 SF well maintained brick medical office building on 4.45 ac lot at a hard corner location in Chicago suburbs. Close to I-80/94. Major tenants include: Rehab Med Center, PSI Family Service, Cardiovascular Clinic and Quest Diagnostics.  NOI $259K/yr. $2.801M. 9.25% cap.
2. MOB in Jacksonville, FL: 14,857 SF state-of-the-art Imaging Center and Therapy Center on 1.83 ac lot visible and next to I-94. Close to Memorial Hospital of Jacksonville. 90% leased. NOI $111K/yr. $1.15M. 9.68% cap.
3. Shopping Center in Miami, FL: 20,706 SF well kept shopping center on 1.86 ac lot at a busy corner location. Along Hwy-1/5. Close to Southland Mall. NOI $208K/yr. $2.6M. 8% cap.
4. Drivers’ Auto Repair in Houston, TX: 5905 SF newly constructed auto repair center on .68 as lot in a fast growing and high income area with an AHI of $95K/yr in 1 mile. 20 yrs NNN lease with 15+ yrs left. NOI $162K/yr with 1.5% annual rent increases. $2.24M. 7.25% cap.
5. Office Building in Southfield, MI: 80,194 SF attractive office building completed in 1999 on 4.40 ac lot in upper middle-class Detroit suburbs. Conveniently located between I-696 and Hwy-10. 86% leased to multiple tenants. NOI $355K/yr. $11.7M. 9.40% cap.
6. DaVita in Richmond, VA: 15,328 SF Class-A kidney dialysis center built in 2011. 100% NNN corp lease with 12+ yrs left. NOI $241K/yr with 2% annual rent increases. $3.717M. 6.50% cap.
7. Retail Center in Everett, WA: 13,923 SF attractive retail center built in 1994 on 1.28 ac lot with good ingress/egress in fast growing Seattle suburbs. Near I-5. 92% leased. NOI $210K/yr. $2.8M. 7.51% cap.
8. Office Building in Boise, ID: 9179 SF Class-A office building constructed in 2008  on 1.50 ac lot in a growing (112.17% pop growth since 2000) and high income (AHI $99K/yr) area. Along major retail corridor. NOI $144K/yr. $1.8M. 8% cap.
9. Shopping Center in Marietta, GA: 76,513 SF well maintained shopping center on over 6 ac lot at a hard corner location in fast growing Atlanta metro. Between Southern Polytechnic State University and I-75. 92% NNN leased. NOI $529K/yr. $5.88M. 9% cap.
10. MOB in Atlanta, GA: 5820 SF medical office building on .33 ac lot. Close to Downtown and I-85/75. New 10 yrs absolute NNN lease to a medical wellness and cosmetic surgery tenant. NOI $120K/yr. $1.5M. 8% cap.

© Transmercial 2013

09-10: McDonalds, Urgent Care, Apartments, Burger King, Greulich Automotive Center

Below are the most commonly used acronyms:

• AHI: Avg. Household Income.  National average is about $55+K/yr.
• NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.
• NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.
• NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1. Shopping Center in Vancouver, WA: 29,750 SF well maintained shopping center on 2.41 ac lot anchored by a 14,400 SF Dollar Tree in growing Portland suburbs. Shadow anchored by Safeway grocery. 94% NNN leased. NOI $321K/yr. $4.28M. 7.5% cap.
2. Retail Center in Fairview Heights, IL: 6000 SF retail center built in 2005 on .79 ac lot in prime commercial corridor in St Louis suburbs. 100% NNN leased to stable tenants. NOI $98K/yr. $1.2M. 8.20% cap.
3. McDonald’s in Springfield, IL: 4134 SF fast food restaurant in growing middle class area. Next to I-55/72. Tenant has been at this location for nearly 40 yrs. 100% NNN ground lease (land is for sale) with 5 yrs left. NOI $38K/yr. Only $766K. 5% cap.
4. Shopping Center in Buford, GA: 48,470 SF shopping center built in 2006 on 5.83 ac lot. Anchored by Dollar General in fast growing and high income (AHI $98K/yr in 3 mile) Atlanta suburbs. Across from Super Walmart center and near I-85.  84% NNN leased. NOI $571K/yr. $7.625M. 7.50% cap.
5. Apartments in Stockton, CA: 32-unit well kept multifamily complex close to parks, shopping centers and Dameron Hospital. Easy access to I-5 and Hwy-4. NOI $101K/yr. $1.36M. 7.48% cap.
6. Urgent Care in Gahanna, OH: 6000 SF Class-A recently renovated medical office building in upper middle-class Columbus suburbs.  This is a sale lease-back investments, so lease terms may be negotiable. New 15 yrs absolute NNN lease to ExpressMed. NOI $114K/yr with 2% annual rent increases. $1.52M. 7.5% cap.
7. Apartments in Atlanta, GA: 120-unit well maintained apartments on 5.80 ac lot close to transportation, parks and schools. NOI $270K/yr. $3M. 9% cap.
8. Shopping Center in Hesperia, CA: 36,201 SF attractive shopping center built in 2007 on 4.60 ac lot at a signalized corner location in San Bernardino County. National tenants include: 99 Cents Only Stores, US Bank, Taco Bell, and AT&T. 97% leased. NOI $845K/yr. $11.858M. 7.13% cap.
9. Burger King in Arvada, CO: 3719 SF Burger King built in 2003 on .85 ac lot along major artery in affluent Denver metro with an AHI of $158K/yr in 1 mile. 100% absolute NNN lease with 10 yrs left to a strong franchisee with 25+ units. NOI $104K/yr. $1.4M. 7.45% cap.
10. Greulich’s in Mesa, AZ: 8050 SF automotive center on .87 ac lot in upper middle-class Phoenix suburbs. 100% NNN lease with 8 yrs left. NOI $140K/yr with 3% annual rent increases. $1.899M. 7.4% cap.

© Transmercial 2013