07-31: Luce Nuovo Restaurant, Fitness Evolution, Walgreens, Retail Centers

1. Luce Nuovo restaurant in Powell, OH: 6040 SF high quality construction highly-rated Luce Nuovo Italian/French Restaurant completed in 2005 on 1½ ac lot in affluent Columbus suburbs with an AHI of $158K/yr in 1 mile. Tenant has been at this location since 2005. Recently $200K interior renovations. 100% NN lease with 9-yrs $1.114M. 10.29% cap.
2. Retail Center in Springfield, OH: 17,040 SF retail center built in 2006 on 2 ac lot Northeast of Dayton. Shadow-anchored by Super Walmart. 100% NNN leased to Jack’s Aquarium, Great Clips, Game Stop, Mercy Medical Associates and Shoe Show Inc. NOI $205K/yr. $2.395M. 8.57% cap.
3. Retail Center in Brentwood, CA: 8603 SF six-units attractive retail center constructed in 2007 on .87 ac lot in fast growing and high income (AHI $118K/yr) Contra Costa County. Next to Walgreens. NNN leases. NOI $220K/yr. $3.75M. 5.89% cap.
4. Fitness Evolution in Carmichael, CA: 44,000 SF well maintained fitness center on 4+ ac lot at a signalized corner location in high income Sacramento suburbs. 20-yrs absolute NNN lease to a proven operator with 50 units. NOI $396K/yr with 1.25% annual rent increases. $5.409M. 7.32% cap.
5. Retail Buildings in Pensacola, FL: Restaurants park consists of Logan’s Roadhouse Restaurant, Twin Peaks Restaurant and Central Credit Union bank adjacent to Cordova Mall. Between Pensacola Regional Airport and Sacred Heart Hospital. Absolute NNN leased to credit tenants with long term leases. NOI $364K/yr with 10% rent increases every 5-yrs. $6.017M. 6.05% cap.
6. Neighborhood Center in Eldersburg, MD: 57,585 SF shopping center on 6 ac lot in growing and high income Baltimore MSA with an AHI of $108K/yr in 3 miles. Anchored by CVS. 95% leased to national credit tenants. NOI $702K/yr. $10.042M. 7% cap.
7. Walgreens is Fort Worth, TX: 15,120 SF Walgreen’s Pharmacy on 1.60 ac lot at a hard corner location. 100% NNN lease with 5-yrs left. NOI $296K/yr. $4.553M. 6.50% cap.
8. Retail Center in Temperance, MI: 24,800 SF attractive retail center over 3 ac lot at a main corridor in Toledo suburbs. NOI $232K/yr. $2.095M. 11.12% cap.

            (c) Transmercial 2014