Monday, April 7, 2014

03-24: MOB's; Office Buildings, Retail Centers



  1. MOB’s in Rochester, NY: 23,949 SF Class-B consisting of three medical office building completed in 1990 across from Unity Health Hospital. 100% NNN leased to multiple medical practices. NOI $243K/yr. $2.7M. 9% cap.
  2. Shopping Center in Pearland, TX:  42,719 SF shopping center built in 2007 on over 20 ac lot shadow-anchored by 100,000 SF Kroger Supermarket.  In fast growing and well-off (AHI $111K/yr in 3 mile) Houston metro. 94% leased. Pro forma NOI $988K/yr. $13.2M. 7.50% pro forma cap.
  3. Retail Center in Fontana, CA: 19,389 SF retail center on nearly 2 ac corner lot in San Bernardino County. 90% leased. Actual NOI $181K/yr. $2.35M. 7.72% actual cap. Upside potential.
  4. Office Building in Orlando, FL: 38,000 SF Class-A office building completed in 2003 on 1.95 ac lot in growing area. Over $2M spent on recent upgrades. 100% leased to multiple tenants. 7% cap. NOI/Price N/A.
  5. Shopping Center in Mesa, AZ: 37,715 SF recently renovated shopping center at a signalized intersection along main corridor in growing Phoenix suburbs. Close to Superstition Springs Center and Hwy-60. 87% leased. NOI $309K/yr. $4.4M. 7% cap.
  6. Retail Buildings in Wylie, TX: 12,115 SF well-kept retail building on 1.50 ac lot in growing and upper middle-class Dallas suburbs. Tenants include: Domino’s Pizza, Jackson Hewitt Tax Service, Diamond Nails & Spa as well as several others. A long Hwy-78. 88% leased. NOI $144K/yr. $1.542M. 8.50% cap.
           
(c) Transmercial 2014

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