12-06: Starbucks, Meineke, Walgreens, Apartments, DaVita Dialysis

1. Starbucks in Edinburg, TX: 2004 SF brand new drive-thru Starbucks on .79 ac lot at a main intersection and next to Hwy-280 in McAllen suburbs. Outparcel to power center with Burlington, TJ-maxx, JCPenney and Ross Dress For Less. Close to 76-bed Edinburg Regional Medical Center. New 10 yrs NNN- corp lease. NOI $89K/yr with 10% rent increases every 5 yrs. $1.557M. 5.75% cap.
2. Meineke in Peoria, AZ: 2550 SF auto repair center built in 2005 on .99 ac outparcel to The Home Depot in Phoenix suburbs. Close to Hwy-101. 100% NNN lease to experienced operator with 6 units. NOI $94K/yr. $1.572M. 6% cap.
3. 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 The Crossroads Mall. 86% leased. NOI $568K/yr. $6.68M. 8.51% cap. Upside potential.
4. Walgreen’s in Colorado Springs, CO: 13,777 SF drive-thru pharmacy on 1.91 ac lot at a major intersection location in upper middle-class area. Near Super Target, Costco, Best Buy, Kohl’s, Dick Sporting Goods and JCPenney centers. 20 yrs NNN- lease with 2 yrs left. NOI $260K/yr. $3.466M. 7.50% cap.
5. Apartments in Austin, TX: 124-units  apartment complex renovated in 2012 on 4+ ac lot. Amenities include: swimming pool, two gazebos, perimeter fencing with access gates and an on-site leasing office. 100% occupied. NOI $382K/yr. $4.888M. 7.83% cap.
6. Shopping Plaza in Cerritos, CA: 15,568 SF attractive shopping plaza on 1.30 ac lot in Los Angeles County. Adjacent to Los Cerritos Center and near I-605. 100% NNN leased to Big 5 Sporting Goods, Subway, Castlehead Escrow and Providence Speech & Hearing. NOI $239K/yr. $4.8M. 4.98% cap.
7. DaVita in McKinney, TX: 7064 SF Class-B DaVita Dialysis center completed in 2009 in fast growing  Dallas metro. Across from 259-bed Medical Center of McKinney and close to Hwy-75. 100% NNN- lease with 6+ yrs left. NOI $142K/yr with 2% annual rent increases. $2.11M. 6.75% cap.
8. Office Building Burlingame, CA: 29,918 SF Class-B office building in high income area with an AHI of $115K/yr in 3 mile radius South of San Francisco. Across from San Francisco International Airport and next to Hwy-101. 100% NNN lease to credit tenant with 6 yrs left. 7.50% cap. NOI/Price not disclosed.

            (c) Transmercial 2013