10-03: Back Yard Burger, 24 Hour Fitness, PetSmart, Walgreen's, Mixed-use

1. Back Yard Burger in Collierville, TN: 3371 SF Back Yard Burger (a regional fast food restaurant) built in 2006 on .84 ac lot at a major retail corridor in high income (AHI $131K/yr in 1 mile) Tennessee suburbs. Close to Baptist Memorial Hospital-Collierville. 20 yrs absolute NNN corp lease with 14+ yrs left. NOI $111K/yr with annual rent increases. $1.308M. 8.50% cap.
2. Retail Center in Buda, TX: 10,400 SF retail center built in 2007 on 2.1 ac outparcel to Walmart supercenter in growing and upper middle-class Austin suburbs. Next to I-35. 86% NNN leased to 5 tenants including Sprint, EZ Money, and Little Caesars with 1 avail unit. Pro forma NOI $209K/yr. $2.715M. 7.71% cap. Note: flyer not available, full brochure upon request.
3. Office Building in Memphis, TN: 37,588 SF Class-B office building in high income (AHI $86K/yr) area. Across from Eastgate Shopping Center with The Home Depot, Burlington Coat Factory, Michael’s and more.  89% leased with excellent tenant mix. Pro forma NOI $318K/yr. $3.49M. 9.10% cap.
4. 24 Hours Fitness in Littleton, CO: 49,834 SF well maintained fitness center on 4.68 ac lot in high income Denver suburbs with an AHI of $102K/yr in 1 mile. Near Southwest Plaza Mall. 100% NNN lease with 10 yrs left. NOI $792K/yr. $10.225M. 7.75% cap.
5. Shopping Center in Pinole, CA: 44,264 SF recently renovated shopping center on 4.58 ac lot at a hard corner location in high income San Francisco Bay metro. Anchored by 99 Centers Only. Along major corridor. 91% NNN leased. NOI $797K/yr. $10.7M. 7.45% cap.
6. Shopping Center in Greece, NY: 75,916 SF well maintained shopping center on nearly 9 ac lot in Rochester suburbs. Anchored by 45,905 SF JoAnn Store and 21,371 SF PetSmart. Adjacent to Lowe’s Plaza and near The Mall at Greece Ridge. 100% NNN leased. NOI $475K/yr. $6.137M. 7.75% cap.
7. Petsmart in Leominster, MA: 20,030 SF single-tenant retail center adjacent to the main entrance to Whitney Field Mall.  10 yrs NNN corp lease with 4+ yrs left.  NOI $413K/yr. $5.9M. 7% cap.
8. Retail Center in West Valley City, UT: 11,708 SF attractive retail center constructed in 2008 on 1+ ac lot in high income Salt Lake City suburbs. 100% NNN leased. NOI $164K/yr. $2.02M. 8% cap.
9. Walgreen’s in Jacksonville, FL: 15,070 SF Walgreens built in 1999 on 1.74 ac lot at a signalized intersection. Close to Jacksonville University. 100% NNN leased with 6 yrs left. NOI $300K/yr. $4M. 7.50% cap.
10. Retail/Office Center in Spring Lake Heights, NJ: 12,000 SF retail/office building completed in 2005 on 1.83 ac lot in high income (AHI $110K/yr in 3 mile radius) coastal city East of Philadelphia. 100% leased. NOI $246K/yr. $3.2M. 7.70% cap.

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