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. 

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