Friday, January 31, 2014

01-17: Caribou Coffee, Preschool, Neighorhood Center, Retail Building



  1. Caribou Coffee in St. Paul, MN: 1544 SF Caribou Coffee renovated in 2004 in a high income area with an AHI of $101K/yr. Across from College of St. Catherine’s. 15 yrs absolute NNN lease with 5+ yrs left. NOI $64K/yr with a rent increase in yr 11th. $986K. 6.5% cap.
  2. Prestige Preschool in Morgan Hill, CA: 10,200 SF day care developed in 2000 along major retail corridor in well-off (AHI $127K/yr in 3 mile radius) Silicon Valley’s suburbs. Close to Hyw-101. 100% leased to strong tenant with 8 locations. NOI $245K/yr. $3.5M. 7% cap.
  3. Shopping Center in Palmdale, CA. 56,500 SF shopping center built in 2008 on 5+ ac lot at a signalized location in Southern California. Across from Wal-Mart & Sam’s Club. Near Antelope Valley Mall and Hwy-14.  Credit tenants include: Goodwill, Buffalo Wild Wings and US Army. 85% leased. NOI $880K/yr. $12M. 7.34% cap.
  4. Retail Center in Chandler, AZ: 5,372 SF retail center built in 2007 on .40 ac outparcel to Bashas’ grocery & Petco center in Phoenix suburbs. Close to 1,300,000 SF Chandler Fashion Center with more than 180 stores and Chandler Regional Medical Center. 100% leased to The Hungry Monk and Driving MBA, a local driver training facility. NOI $135K/yr. $1.61M. 8.39% cap.
  5. Neighborhood Center in Las Vegas, NV: 90,373 SF shopping center on 8.49 ac lot anchored by Whole Foods Market. Close to Mountain View Hospital and Hwy-95. 92% NNN leased to local and national tenants. NOI $1.215M/yr. $17.75M. 6.85% cap.
  6. Retail Building in San Bernardino, CA: 13,074 SF retail building in growing area. Close to Waterman Discount Mall and I-215. 100% NNN leased to Family Dollar and Eagles Check Cashing. NOI $126K/yr. $1.675M. 7.53% cap.
  7. Neighborhood Center in Duluth, GA: 156,263 SF neighborhood center built in 1996 on nearly 16 acres of land anchored by Dave & Buster’s at main retail artery. Close to Gwinnett Place Mall and next to I-85. 100% NNN leased. NOI $1.492M/yr. $18.65M. 8% cap.
  8. Retail Center in Richmond, VA: 15,220 SF retail center renovated in 2001 on nearly 1 ac lot along main retail thoroughfare. Across from center anchored by Food Lion and Marshalls. 100% leased. NOI $173K/yr. $2.25M. 7.70% cap.
  9. Retail Center in Goodyear, AZ: 18,496 SF attractive retail center shadow anchored by Lowe’s in upper middle-class Phoenix suburbs. Close to West Valley Hospital and I-10. 100% NNN leased. NOI $260K/yr. $3.5M. 7.44% cap.

            (c) Transmercial 2014
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