07-30: MOB, Apartments, Grocery Outlet, Concentra Urgent Care, DaVita

1. Shopping Center in Mansfield, TX: 37,105 SF well maintained shopping center on 3.83 ac lot at a signalized intersection and in fast growing Fort Worth suburbs. Good Tenant mix: Dollar General, highly-rated Utopia Fitness, The Rock Church, Texas School of Phlebotamy, Extreme Cuts, Eternal Health, Top Ten Nails, Minuteman Press, ASAP Consultants and Smoking Dave’s BBQ. 80% leased. Actual NOI $228K/yr. $2.5M. 9.13% cap. Upside potential.
2. MOB in Plano, TX: 4063 SF suite in a Class-A medical office building constructed in 2003 on over 2 ac lot adjacent to Texas Health Center for Diagnostics and Surgery. Across from 366-bed Texas Health Presbyterian Hospital Plano. 100% NNN lease with 5-yrs left to an experience MRI operator with multiple locations. NOI $86K/yr. $1.435M. 6% cap.
3. Apartments in Los Angeles, CA: 12-units multifamily complex in densely populated area. Across from Ralphs Grocery and Rite Aid pharmacy. NOI $68K/yr. $1.15M. 5.92% cap.
4. Grocery Outlet in Albany, OR: 22,700 SF well maintained retail building on over 3 ac outparcel to Heritage Plaza, with Safeway, Marshalls and Big Lots.  Across from Heritage Mall. Newly executed 10-yrs NNN lease to Grocery Outlet. Pro Forma NOI $192K/yr. $2.76M. 7% cap.
5. Neighborhood Center in Tulare, CA: 119,432 SF well maintained shopping center on over 6 ac lot at a signalized intersection anchored by Rite Aid, Grocery Outlet, DMV, Dollar Tree, Aarons Rent and Fitness Evolution. NNN leases. NOI $1.078M/yr. $14.55M. 7.41% cap.
6. Strip Center in Reseda, CA: 20,337 SF strip center on 1 ac lot in densely populated area with over 600,000 residents in 5 miles. 100% NNN leased to ten tenants. NOI $228K/yr. $3.95M. 5.80% cap.
7. Concentra in Sterling Heights, MI: 12,480 SF Class-A build-to-suit Concentra Urgent Care on 2.80 ac lot in growing middle-class Detroit suburbs. 10-yrs NNN lease. NOI $149K/yr. $1.932M. 7.75% cap.
8. Retail Building in Albuquerque, NM: 40,000 SF retail center on adjacent to Sam’s Club. Across from Costco and Home Depot and near I-25. 100% NNN leased to Mattress Firm, Brides by Demetrios and Office Depot. NOI $444K/yr. $5.5M. 8.08% cap.
9. MOB in Conroe, TX: 5650 SF Class-B medical office building at a major retail artery. On an off/on ramp of I-45. 100% NNN lease with 10-yrs left to Nova Medical Center. NOI $118K/yr. $2.06M. 5.75% cap.
10. DaVita in Oregon, OH: 8400 SF Dialysis Center built in 1994 on 2.31 ac lot in Toledo suburbs. Near Mercy St. Charles Hospital and I-280. 10-yrs absolute NNN corp lease with 9-yrs left. NOI $145K/yr with 2% annual rent increases. $1.998M. 7.26% cap.

            (c) Transmercial 2014