Friday, May 23, 2014

05-09: Mixed-use, DaVita Dialysis, Chili's, Arby's, HCA

  1. Mixed-use in Fort Mill, SC: 23,630 SF attractive office/retail center built in 2005 on 3.72 ac lot along main thoroughfare in Charlotte metro. 95% leased. $3.1M.
  2. Office Building in Fremont, CA: 11,552 SF Class-B multi-tenant office building in affluent Silicon Valley suburbs (AHI $152K/yr in 1 mile radius. Close to Tesla Motors Factory, I-680 and I-880. 85% leased. NOI $126K/yr. $2.088M. 6.07% cap.
  3. Retail Center in Hilliard, OH: 6832 SF attractive retail center completed in 2006 in upper middle class Columbus suburbs. Tenants include: Cuzzin's Yogurt, Mod Salon, & Columbus' #1 Jet's Pizza. 80% leased with only 1325 SF vacant. Actual NOI $95K/yr. $1.425M. 6.72% cap.
  4. DaVita in Riverview, MI: 12,252 SF dialysis center built in 2003 on 1.32 ac lot along main artery in Detroit suburbs. 12-yrs NNN- corp lease with 10-yrs left. NOI $220K/yr with rent increases. $2.999M. 7.35% cap.
  5. First Choice ER in Kingwood, TX: 6050 SF freestanding emergency room renovated in 2011 on over 1 ac lot in fast growing Houston suburbs. 7-yrs NNN lease with 4+ yrs left. NOI $149K/yr with a 10% rent bump in 2016. $2.132M. 7% cap.
  6. Chili’s in Colorado Springs, CO: 6000 SF restaurant completed in 2007 on 1.87 ac outparcel to Target in growing & high income area. Across from Lowe’s and next to Hwy-21. Being subleased to Carlos Miguel’s, a regional operator with 7 locations. 100% NNN ground lease (land for sale) with 5-yrs left. NOI $104K/yr. $1.487M. 7% cap.
  7. Arby’s in Las Vegas, NV: 3135 SF well maintained Arby’s restaurant constructed in 2006 at a main retail artery. Across from Power Center anchored by Smith’s Pharmacy and Dollar Tree. Across from 171-bed Centennial Hills Hospital. This is a sale-leaseback investment. New 20-yrs absolute NNN lease to 7th largest franchisee. NOI $126K/yr. $2.112M. 6% cap.
  8. Medical Office Building in Richmond, VA: 22,000 SF brand new state-of-the-art full service Emergency Department & Imaging Center on 3.7 ac lot in high income area. 10-yrs absolute NNN lease to HCA, with about 165 acute care, psychiatric and rehabilitation hospitals in the US and UK. NOI $550K/yr with 2% annual rent increases. $8.8M. 6.25% cap.

            (c) Transmercial 2014
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