Wednesday, November 27, 2013

11-13: Jack in the Box, Logan's Roadhouse, Foster Freeze



  1. Shopping Center in Portage, MI: 61,990 SF attractive shopping center on nearly 9 ac lot in Kalamazoo suburbs. Shadow Anchored by Stein Mart Discount Clothing and D&W Fresh Market Grocery Store. Across from 100+ store The Crossroads Mall. 86% NNN leased. NOI $568K/yr. $6.68M. 8.51% cap. Upside potential.
  2. Strip Center in Venice, FL: 5670 SF well maintained strip center along at main retail corridor North of Cape Coral. 100% leased to Ciao Gelato, Resort Style and Victoria’s Deli. NOI $142K/yr. $1.6M. 8.90% cap.
  3. Strip Center in Chico, CA: 6977 SF attractive strip center consisting of 2 buildings built in 2009 on .97 ac lot at a signalized intersection in growing area Northern California. Close to Hwy-99. 80% NNN leased to Papa Murphy's, Bob Clark, It's a Grind Coffee with 1 vacant unit. NOI $79K/yr. $1.1M. 7.26% cap.
  4. Jack in the Box in Fresno, CA: 2429 SF established drive-thru fast food restaurant at a hard corner location and along main retail artery. 10 yr absolute NNN corp lease with 7 yrs left. Tenant has been at this location 30+ yrs.  NOI $100K/yr with a CPI rent bump in 2016 at an amount not to exceed 12%. $1.9M. 5.28% cap.
  5. Retail Center in Chino Hills, CA: 16,000 SF consisting of two retail buildings on 1.97 ac outparcel to Albertsons grocery. In affluent San Bernardino County with an AHI of $119K/yr in a 1 mile radius. 87% leased. NOI $109K/yr. $4.395M. 6% cap.
  6. Logan’s Roadhouse in Lewisville, TX: 8202 SF Steakhouse Restaurant built in 1999 on nearly 2 ac lot at a main retail artery in fast growing (199.34% growth) and high income (AHI $96K/yr in 3 miles) Dallas suburbs. Adjacent to 1,105,334 SF 160-stored Vista Ridge Mall,.  20 yrs absolute NNN lease with 13 yrs left. NOI $258K/yr with annual rent increases. $3.446M. 7.50% cap.
  7. Community Center in Sugar Land, TX: 34,944 SF attractive retail center built in 2006 on 2.65 ac lot in growing and prosperous Houston suburbs with an AHI of $140K/yr in 1 mile radius. Across from Power Center, with several anchored tenants and close to Memorial Hermann Sugar Land Hospital. 93% NNN leased. NOI $672K/yr. $9.601M. 7% cap.
  8. Retail Center in San Jose, CA: 18,429 SF well maintained retail center on 1.65 ac lot at a hard corner location anchored by Doctor’s on Duty. Close to Great Mall and I-680. 100% leased to 11 tenants. NOI $473K/yr. $7.57M. 6.25% cap.
  9. Foster Freeze in Oxnard, CA: 735 SF fast food restaurant at a hard corner location in a growing city in Southern California. 100% leased to national tenants. NOI $31K/yr. $735K. 4.30% cap.
  10. Retail Center in Marlton, NJ: 8762 SF attractive retail center built in 2009 on over 1 ac lot in high income (AHI $119K/yr in 3 miles) Philadelphia metro. 100% NNN leased to six tenants. NOI $127K/yr. $1.75M. 7.26% cap.

            (c) Transmercial 2013

Tuesday, November 26, 2013

11-12: CBA, Burker King, Orchard Supply Hardware, Hooters, Family Dollar, Starbucks, FedEx Kinko's



  1. Christian Brothers Automotive in Shawnee, KS: 4921 SF 9-bay auto center built in 2009 on nearly 1 ac lot in affluent ($103K/yr) Kansas City suburbs. Close to Hwy-7. 15 yrs absolute NNN corp lease with 10+ yrs left. NOI $181K/yr with 1.5% annual rent increases. $2.426M. 7.50% cap.
  2. Burger King in Holt, MI: 4073 SF well maintained fast food restaurant on 1.41 ac lot along main retail corridor in Lansing suburbs. Across from Kroger grocery and close to I-96. Tenant has been at this location for 27 yrs. 100% absolute NNN lease with 10+ yrs left to a strong franchisee with 60 units. NOI $97K/yr with 10% rent increases every 5 yrs. $1.504M. 6.50% cap.
  3. Retail Center in Scottsdale, AZ: 17,955 SF attractive retail center built in 2001 on 1.85 ac lot in high income Phoenix suburbs. Shadow anchored by Walgreens. 93% NNN leased to Tutor Time, Papa John’s Pizza, Super Cleaners, Ancala Nails and Hawaiian Experience Spa. NOI $417K/yr. $5.765M. 7.24% cap. Upside potential.
  4. Retail Building in Corona, CA: 6390 SF shopping center built in 2006 on 1+ ac lot in high income (AHI $101K/yr) Riverside suburbs. Across from Walgreens and near to Vons Grocery anchored center. 100% NNN leased to Wing Stop, Chronic Tacos and All Smiles Dentistry. NOI $197K/yr. $3.25M. 6.10% cap.
  5. Orchard Supply Hardware in Visalia, CA: 44,200 SF single tenant retail building on 3.71 ac lot in upper middle class area. Across from Visalia Mall. Tenant has been at this location since 1973. 100% NNN lease with 5 yrs left. NOI $353K/yr. $4.877M. 7.25% cap.
  6. Hooters in Waco, TX: 6118 SF Hooters Restaurant on 1.83 ac lot in fast growing area. On an off/on ramp of I-35.  New 15 yrs absolute NNN corp lease. NOI $184K/yr with 10% rent bumps in 2017 and every 5 yrs thereafter. $2.64M. 7% cap.
  7. Family Dollar in Philadelphia, PA: 9343 SF attractive retail building on .41 ac lot at a signalized corner location in densely populated area with over 800,000 residents in 5 miles. 100% NNN with 11 yrs left. NOI $149K/yr with 5% rent increase in yr 6 – 10. $2.182M. 6.85% cap.
  8. Starbucks & FedEx Kinko’s in Murray, UT: 4398 SF consisting of two retail buildings completed in 2003 at a signalized intersection in Salt Lake City suburbs. Across from 40-bed The Orthopedic Specialty Hospital. Close to Fashion Place Mall and I-215. 100% NNN leased with corp leases. NOI $132K/yr. $1.885M. 7% cap.
  9. Retail Center in Albuquerque, NM: 32,648 SF retail center renovated in 2001 on 2.54 ac lot at a hard corner location. 100% NNN leased to Family Dollar, Rent-A-Center, US Immigration office, Subway, Ace Cash Express, World Finance, Gen X Clothing and El Herradero Market. NOI $360K/yr. $4.8M. 7.50% cap.
  10. Auto Center in Sunnyvale, CA: 4800 SF well maintained auto repair facility in the middle of Silicon Valley with an AHI of $123K/yr. in 3 mile radius. 100% NNN leased to 3 stable tenants. NOI $104K/yr. $1.6M. 6.56% cap.

            (c) Transmercial 2013

Monday, November 25, 2013

11-11: Dollar Tree, Retail Center, Office Buildings, MOB



  1. Office Building in Knoxville, TN: 56,392 SF Class-A office building anchored by AT&T in fast growing and upper middle-class area. Close to Parkwest Medical Center and I-40/75. 91% leased to multiple tenants. NOI $646K/yr. 8.55% cap. Price not disclosed.
  2. Retail Center in Stockton, CA: 15,314 SF attractive retail center built in 2008 on 1.84 ac lot at a signalized location. Tenants include Jollie Bee, Red Ribbon Bakery and Fred Loya Insurance. Next to Costco. 79% NNN leased.  NOI $422K/yr. $6.402M. 7% cap. Upside potential when fully leased.
  3. Dollar Tree in Roswell, NM: 13,750 SF Dollar Tree remodeled in 2012 on nearly 1 ac lot at a hard corner location in a growing area. Across from Kmart. 10 yrs NNN corp lease with 9 yrs left. NOI $103K/yr. $1.442M. 7.15% cap.
  4. Retail Center in Clarksville, IN: 20,000 SF eye-catching retail center built in 2010 on 1.88 ac outparcel to Walmart and Sam’s in Louisville suburbs. Across from Lowes and an off/on ramp of I-65. 95% NNN leased. NOI $395K/yr. $4.94M. 8% cap.
  5. Shopping Center in Hampton, GA: 27,000 SF shopping center built in 2006 on 8+ ac lot in fast growing Atlanta metro. Along major retail artery and between Walmart and Home Depot. 76% NNN leased. 8% cap. NOI/Price not disclosed.
  6. Strip Center in Fredericksburg, VA: 11,625 SF attractive strip center on over 1 ac lot in growing and high income area with an AHI of $99K/yr in 1 mile. Outparcel to Harrison Crossing, a power center anchored by Home Depot, Petco and Super Giant Food and Pharmacy Store. 70% NNN leased. NOI $213K/yr. $3.055M. 7% cap.
  7. MOB in Barkley, MI: 12,000 SF Class-A recently renovated medical office building in high income Detroit suburbs. Close to 1,070-bed Beaumont Hospital, Royal Oak Campus, currently undergoing expansion. 100% NNN leased to Cataract Surgery Center and Shanbom Eye specialist. NOI $205K/yr. $2.652M. 7.75% cap.

            (c) Transmercial 2013

Friday, November 22, 2013

11-08: Chuck E Cheese, Office buildiong, Retail center, MOB, Apartments, Burger King


  1. Chuck E. Cheese in McAllen, TX: 15,500 SF Chuck E. Cheese family entertainment center built in 2013 on 2.458 ac lot across from a power center with Kohl's, Old Navy, Target, Home Depot, and Walgreens in fast growing city.  15 yrs NNN ground lease (land is for sale). NOI $133K/yr with 10% rent bumps every 5 yrs.  $2.216M. 6% cap.
  2. Office Building in North Richland Hills, TX: 24,632 SF office building on 2.22 ac corner lot on a major artery.  90% occupied.  Current NOI $161K/yr. $2.023m. 8% CAP.
  3. Retail Center in Oxnard, CA: 9619 SF upscale and modern looking retail center built in 2005 on 1.14 ac lot.  shadow anchored by Walgreens.  100% leased to 6 tenants including: Starbucks, Panda Express, Supercuts, Pacific oaks CU, Postal Connections and Quizno's.  NOI $253K/yr. $4.15M. 6.10% cap.
  4. Shopping Center in Denver, CO: 44,078 SF established shopping center on 3.8 ac corner lot on one of metro Denver' s main thoroughfares. 78% leased.  Current NOI $372K/yr.  $4.38M. 8.5% cap.
  5. Shopping Center in Saint Cloud, FL: 61333 SF shopping center built in 2003 on over 8 ac lot at an intersection of 2 main roads in Orlando suburbs.  Anchored by Winn Dixie grocery.  5 points of ingress & egress.  93% leased.  NOI $704K/yr. $8.281M. 8.5% cap.
  6. MOB in Lakewood, CO: 17,884 SF 2-story medical office building on 1.69 ac lot next to St. Anthony Hospital.  100% leased to 3 tenants.  NOI $277K/yr. $3.4M. 8.16% cap.
  7. Apartments in Pueblo, CO: 83,564 SF 78-unit 2-4 BRs apartments complex built in 1996-2000 on 1 ac lot in high income area. 95% occupied.  NOI $315K/yr. 7.7% cap.
  8. Burger King in San Diego, CA: 3762 SF Burger King built in 1986 on .58 ac outparcel.  100% NNN ground lease (land is for sale) to a multi-unit franchisee with 10 yrs left.  Tenant has been here continuously since 1986.  NOI $130K/yr. $2.5M. 5.2% cap.


            (c) Transmercial 2013

Thursday, November 21, 2013

11-07: Strip Mall, Del Taco, Wendy's, Deaconess Health Systems, Office Building



1.       Retail Center in Tempe, AZ: 5982 SF attractive retail center on .67 ac outparcel to Safeway grocery in affluent (AHI $112K/yr in 1 mile) Phoenix suburbs.  Remodeled in 2012. 100% NNN leased to Tempe Smiles Family Dental (13 locations) , Rita’s Ice (600+ stores) and Trader’s Smoke Shop with multiple locations. NOI $108K/yr. $1.502M. 7.25% cap.
2.       Office Building in Sacramento, CA: 14,000 SF Class-B office building on 1.40 ac lot along main retail artery in growing and upper middle-class area. Close to 700,000+ SF Country Club Plaza, with Ross, Macy's, Sports Chalet, Off Broadway Shoe, Office Depot, Anna's Linens, Bed Bath & Beyond, Michaels, Walmart & Sam's Club. 100% leased. Pro forma NOI $142K/yr. $1.595M. 9% cap.
3.       Strip Center in Newark, CA: 5720 SF well maintained strip center on .61 ac lot in high income city in San Fran metro with an AHI of $115K/yr.  Shadow anchored by Mi Pueblo grocery and CVS Pharmacy center. Across from Safeway and Raley’s grocery centers. 100% NNN leased to 2 tenants. NOI $115K/yr. $1.8M. 6.42% cap.
4.       Del Taco in Greeley, CO: 2240 SF Del Taco restaurant on .80 ac lot in a growing area North of Denver.  Across from Greeley Mall.  20 yrs absolute NNN lease with 15 yrs left.  NOI $132K/yr. $1.82M. 7.25% cap.
5.       Retail Center in Jonesboro, GA: 19,600 SF attractive retail center on 2+ ac lot at a major retail artery in fast growing Atlanta suburbs. 100% leased. NOI $170K/yr. $1.625M. 10.50% Cap.
6.       Deaconess Health Systems in Edmond, OK: 11,000 SF Class-A build-to-suit single tenant medical office building on 1.26 ac lot in growing (164.54% pop growth) and high income (AHI $97K/yr) Oklahoma City suburbs. 100% NNN lease with 6 yrs left. NOI $332K/yr with annual CPI rent increases. $4.237M. 7.84% cap.
7.       Shopping Center in Duluth, GA: 32,019 SF shopping center completed in 2007 on 2.40 ac lot at a prominent retail artery in Atlanta suburbs. Close to Gwinnett Place Mall and I-85. 100% leased. NOI $325K/yr. $4.3M. 7.56% cap.
8.       Wendy’s in Brownsville, TX: 3471 SF Wendy’s restaurant built in 2004 on .86 ac lot in a high growth border city. Close to Sunrise Mall and Hwy-83/77. Newly executed 10 yrs absolute NNN ground lease (land is for sale) to an experienced franchisee with over 25 units. NOI $66K/yr with 2% rent increases starting in 2019. $995K. 6.65% cap.
9.       Retail Center in Kingwood, TX: 11,700 SF attractive retail center on 1.22 ac lot at major retail corridor. High growth & high income Houston suburbs.  Close to 248-bed Kingwood Medical Center and I-69. 80% leased. Actual NOI $192K/yr. $2M. 9.60% cap. Upside potential.

            (c) Transmercial 2013

Wednesday, November 20, 2013

11-06: Pizza Hut, Concetra Urgent Care, Jack in the Box, Goodwill, MOB



  1. MOB in Pompano Beach, FL: 28,000 SF well maintained medical office building on 1 ac lot close to Broward Health North Hospital and I-95. 94% leased. NOI $194K/yr. $2.75M. 7.09% cap.
  2. Neighborhood Center in Las Vegas, NV: 60,105 SF attractive shopping center on over 6 ac lot a major retail corridor in a fast growing area. Shadow-anchored by La Bonita Supermarket. Tenants within the center include: The UPS Store. 7 Eleven, GNC, Fatburger. 92% leased. NOI $952K/yr. $11.9M. 8% cap. 
  3. Shopping Center in Gilbert, AZ: 82,538 SF shopping center completed in 2008 on 10.66 ac lot at a hard corner location. In booming (936.98% pop growth since 2000) and affluent (AHI $113K/yr within 3 mile radius) Phoenix suburbs. 100% leased. NOI $980K/yr. $13.25M. 7.40% cap.
  4. Pizza Hut in Aurora, IL: 4,042 SF single tenant completely remodeled retail building on .82 ac lot at a hard signalized location in Chicago suburbs. 100% NNN lease with 8 yrs left. NOI $64K/yr. $1.056M. 6.13% cap.
  5. Retail Center in Fort Lauderdale, FL: 10,410 SF attractive retail center along major retail artery. Close to 571-bed Holy Cross Hospital. NNN leased. NOI $173K/yr. $2.475M. 7% cap.
  6. Concentra Urgent Care in Lexington, KY: 8000 SF Class-A medical office building renovated in 2008 in upper middle-class area. 100% NNN lease to a national health care provider with 7 yrs left. NOI $119K/yr. $1.325M. 9% cap.
  7. MOB in Newark, OH: 20,000 SF Class-B 14-units medical office building on 2½ ac lot Northeast of Columbus. 70% leased. NOI $95K/yr. $1.05M. 9.14% cap.
  8. Retail Center in Magnolia, TX: 14,277 SF attractive retail center along main retail corridor in fast growing and affluent Houston suburbs with an AHI of $160K/yr in 3 mile radius. NNN leased. NOI $285K/yr. $3M. 9.50% cap.
  9. Jack in the Box in Las Vegas, NV: 4387 SF drive-thru fast food restaurant adjacent to Smith’s grocery store. Close to newly built $600M VA Hospital. 100% absolute NNN corp ground lease (land for sale) with 13 yrs left. NOI $84K/yr. $1.539M. 5.50% cap.
  10. Goodwill in Kansas City, MO: 12,540 SF brand new Goodwill store on over 2 ac lot in fast growing and high income (AHI $101K/yr) area. Close to I-35. 15-yrs absolute NNN lease with 14+ yrs left. NOI $160K/yr. $2.144M. 7.50% cap.

            (c) Transmercial 2013