Friday, October 4, 2013

09-20: MOB, Retail Centers, Shopping Centers, Office Buildings


  1. Retail Center in Corpus Christi, TX: 15,289 SF consisting of three retail buildings completed in 2007 on 1.30 ac lot in fast growing middle-class area. Between HEB Plus and Super Walmart. Across from Christus Spohn Hospital-South. 100% leased. 100% leased. NOI $317K/yr. 
  2. Retail Center in Memphis, TN: 22,400 SF retail center built in 2001 on 2+ ac lot with in a growing area.  Property with 3 different entrances to the center.  Anchored by Family Dollar store and Black & Decker. 93% leased. NOI $199K/year.  $2.495M.  8% cap.
  3. Retail Building in Indianapolis, IN: 7,320 SF built-to-suit retail building on nearly 1 ac lot at a hard corner location and along main retail corridor. Across from Lafayette Square Mall and near I-65. 100% NNN leased to LensCrafters with 4 yrs left.  NOI $109K/yr. $1.2M. 9.15% cap.
  4. Office Building in Boise, ID: 10,958 SF Class-B office building completed in 2006 on .81 ac lot in growing (112.17% pop growth since 2000) and high income area with an AHI of $99K/yr within 1 mile. 85% leased to multiple tenants. NOI $133K/yr. $1.715M. 7.78% cap. 
  5. Shopping Center in Waco, TX: 47,344 SF attractive shopping center constructed in 2006 on 9.24 ac lot along main retail corridor. Anchored by PetsMart. Close to Richland Mall and Providence Health Center. 85% leased. Actual NOI $402K/yr. $4.475M. 9% actual cap. Upside potential. 
  6. MOB in Boise, ID: 6,000 SF Class-B medical building on .61 ac lot in a high income area. 100% leased to two medical tenants. NOI $61K/yr. $890K. 6.93% cap.
  7. Retail Center in Appleton, WI: 8641 SF attractive retail center built in 2007 on 1+ ac outparcel to Lowe’s, Festival Foods and Dollar Tree center. Close to Hwy-441. NOI $122K/yr. $1.749M. 7% cap. 
  8. Shopping Center in Apple Valley, MN: 25,509 SF consisting of three retail centers outparcel to Home Depot along major retail artery in high income Minneapolis suburbs. Across from Fisher Marketplace, a power center anchored by Bed Bath & Beyond, Kohl’s, Sam’s Club and Menards grocery. 91% leased. NOI $468K/yr. $5.695M. 8.22% cap.


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