Monday, August 11, 2014

07-28: REO, FoodMaxx, Sonic Drive-In, MOB, Office Buildings


  1. REO in Stockton, CA: 46,615 SF lender-owned shopping center on nearly 5 ac lot at a signalized corner location. Shadow anchored by Save Mart Supermarket and CVS Drugstore. 80% leased. NOI $362K/yr. $4.89M. 7.41% cap. Upside potential.
  2. Professional Center in Fresno, CA: 43,531 SF Class-B office building on 3½ ac corner lot. Near Hwy-41. 43% leased. Pro forma NOI $288K/yr. $2.8M. 10.30% Pro forma cap.
  3. FoodMaxx in Sacramento, CA: 67,750 SF supermarket at a highly visible corner location. Close to Florin Mall and Hwy-99. 20-yrs lease to FoodMaxx, a regional tenant with 9-yrs left. NOI $727K/yr. $11.5M. 6.33% cap.
  4. Retail Center in Kennesaw, GA: 15,000 SF well maintained retail center on 1.55 ac lot along major retail artery in growing and upper middle-class Atlanta suburbs. Across from Publix grocery. 100% leased to eight tenants. NOI $146K/yr. $1.833M. 8% cap.
  5. Sonic in Las Vegas, NV: 1582 SF Drive-In fast food restaurant near McCarran International Airport.  Across from The Home Depot. 100% NNN lease with 5-yrs left to a successful operator. NOI $144K/yr. $1.8M. 8% cap.
  6. Office Buildings in Denver, CO: 59,650 SF Class-B consisting of three professional buildings on over 3 ac lot at a hard corner location. Adjacent to Walmart Supercenter. 94% leased. NOI $301K/yr. $3.8M. 7.93% cap.
  7. Office Building in Scotts Valley, CA: 4870 SF multi-tenant medical/office building at a signalized corner location in affluent San Jose/Santa Cruz suburbs with an AHI of $121K/yr in 1 mile.  Easy access to Hwy-17. 100% NNN leased. NOI $100K/yr. $1.68M. 6% cap.
  8. MOB in Memphis, TN: 26,321 SF distressed Class-B medical office building on 2.42 ac lot in growing middle-class area. Close to Hwy-385. 77% leased to pediatrics, dentistry, obstetrics and podiatry. Actual NOI $198K/yr. $2.325M. 8.52% cap.
  9. Retail Center in Stockbridge, GA: 10,000 SF attractive retail center on 1.36 ac lot along main retail artery in growing Atlanta suburbs. Close to Walmart Supercenter. 76% NNN leased. Actual NOI $127K/yr. $1.59M. 8% cap.

            (c) Transmercial 2014
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