Friday, August 29, 2014

08-14: Rite Aid, Pollo Regio, MOB, Office Building, Shopping Centers


  1. Rite Aid in Lansing, MI: 11,680 SF well maintained Rite Aid Pharmacy on .66 ac lot across from Sparrow St. Lawrence Hospital. 100% NNN- corp lease with over 2-yrs left. NOI $172K/yr. $2.152M. 8% cap.
  2. Strip Center in Irving, TX: 6400 SF recently remodeled strip center at a major retail corridor in fast growing Fort Worth/Dallas suburbs. Across from Irving Mall with 123 stores and near Hwy-183 exit. 100% NNN leased to Sprint, Papa Murphy’s and Vapenvapor. NOI $140K/yr. $2M. 7% cap.
  3. Office Building in Omaha, NE: 44,959 SF well kept office building on 2.65 ac lot at a signalized intersection in upper middle-class area. Along busy retail corridor and near Oak View Mall. 80% leased. Pro forma NOI $460K/yr. $5.175M. 8.90% pro forma cap.
  4. Pollo Regio in McKinney, TX: 2628 SF drive-thru restaurant constructed in 1996 on .79 ac lot along Hwy-75 in Dallas suburbs. 15-yrs absolute NNN lease to strong regional tenant with over 14-yrs left. NOI $96K/yr with a 10% rent bump in yrs-6 & 11. $1.6M. 6% cap.
  5. Strip Center in Camarillo, CA: 12,154 SF attractive strip center on 1.20 ac corner lot in growing & high income (AHI $102K/yr) Southern CA City. 100% leased with good tenant mix. NOI $151K/yr. 2.6M. 5.80% cap.
  6. Strip Center in Houston, TX: 9840 SF attractive strip center at a hard corner location in a fast growing and upper middle-class area. NOI $94K/yr. $898K. 10.50% cap.
  7. MOB in Berwyn, IL: 5990 SF medical office building in Chicago suburbs. Across from 427-bed MacNeal Hospital. 100% NNN lease with 7-yrs left to Vanguard Health Systems. NOI $79K/yr. $1.115M. 7.15% cap.
  8. Shopping Center in Village of Palm Springs, FL: 44,600 SF attractive shopping center completed in 2005 North of Fort Lauderdale. 100% leased. NOI $562K/yr. $7.499M. 7.50% cap.
  9. Retail Center in Pittsburg, CA: 15,052 SF attractive retail center on .74 ac lot in a stable city East of San Francisco. Close to Hwy-4. 100% NNN leased. NOI $229K/yr. $3.4M. 6.76% cap.

            (c) Transmercial 2014

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