10-09: Pep Boys, Walgreen's, Office Park, Firestone, Jack in the Box, Retail Centers

1. Pep Boys in Aurora, IL: 6281 SF brand new auto repair center on .65 ac lot in a fast growing area. Near Walmart supercenter. New 10 yrs NNN corp lease. NOI $115K/yr with 10% rent bumps every 5 yrs. $1.916M. 6% cap.
2. Walgreen’s in Riviera Beach, FL: 15,120 SF drive-thru pharmacy built in 1999 on nearly 2 ac lot at a hard corner location. Close to 236-bed VA Medical Center and I-95. 20 yrs NNN- corp lease with 5+ yrs left. NOI $232K/yr. $3.326M. 7% cap.
3. Retail Building in Moreno Valley, CA: 36,175 SF well maintained retail building on 3+ ac lot at a major retail corridor in Riverside County. On an off/on ramp of Hwy-60. 100% NNN leased to Dollar Tree and dd’s Discounts (owned by Ross). NOI $249K/yr. $4.163M. 6% cap.
4. Office Park in Layton, UT: 53,103 SF Class-B office park completed in 1995 on 6.40 ac lot in a fast growing middle-class area. Between Layton Hills Mall, with 100+ stores and 225-bed Davis Hospital & Medical Center. Next & visible to I-15. 88% NNN leased to multiple tenants. NOI $473K/yr. $6.105M. 7.75% cap.
5. Medical Office Building in Oklahoma City, OK: 83,858 SF five levels attractive medical office building across from St Anthony’s Hospital.  Tunnel connection to St Anthony’s Hospital. Close to I-235. Leased to mostly medical practices. NOI $536K/yr. $6.5M. 8.25% cap.
6. Retail Building in West Valley City, UT: 14,021 SF retail building constructed in 2001 on 1.59 ac lot in Salt Lake City suburbs. Next/visible from Hwy-154. 100% NNN leased to Comcast, Riverton Music and AT&T. NOI $257K/yr. $3.35M. 7.70% cap.
7. Firestone Tire & Rubber (S&P BBB+) in Garland, TX:  7653 SF 5-bay auto care center built in 2007 on 1+ ac lot in affluent (AHI $117K/yr) Dallas suburbs. Close to 1,004,000 SF Firewheel Town Center. 15 yrs absolute NNN corp lease with 10 yrs left. NOI $182K/yr with a 6.5% rent increase in 2018. $2.85M. 6.28% cap.
8. Jack in The Box in Wood Village, OR: 2,850 SF drive-thru JIB restaurant built in 2001 at a hard corner location in Portland suburbs. Across from Walmart and at an I-84 exit.  24-hr location.  18 yrs NNN corp lease with 6 yrs left.  NOI $182K/yr. $2.55M. 7.15% cap.
9. Retail Center in Grapevine, TX: 36,490 SF well kept shopping center on 3+ ac lot at busy corridor in prosperous (AHI $143K/yr in 3 miles) Dallas/Fort Worth metro. Near 112-bed Baylor Regional Medical Center and Hwy-114.  97% leased. NOI $555K/yr. $6.167M. 9% cap.
10. Walgreen’s in Gilbert, AZ: 13,905 SF drive-thru Walgreens built in 1997 on 1.79 ac lot a signalized corner location in upper middle-class Phoenix suburbs. Along major retail corridor.  100% NNN- corp lease with 3 yrs left.  NOI $248K/year. $3.1M. 8% cap.

© Transmercial 2013