Friday, September 27, 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 2nd 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
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