Friday, September 26, 2014

09-12: MOB, Shopping centers, Apartments

Transmercial recently closed these transactions:
·         $5.229M 24,939 SF shopping center in Humble, TX
·         $5.25M 38,924 SF shopping center in Elgin, IL


  1. MOB in Altamonte Springs, FL: 26,886 SF 2-story medical office building across the street from Florida Hospital Altamonte in Orlando metro.  Nearly $1M renovation spent since 2009. 100% leased to 12 medical tenants.  NOI $401K/yr. $5.62M. 7.13% cap.
  2. Shopping Center in Bakersfield, CA: 31,098 SF shopping center on 2.75 ac lot at a signalized corner.  Anchored by a 12,835 SF Fresh Foods grocery.  97% NNN leased to 10 tenants including a Carls Jr.  NOI $512K/yr. $7.95M. 6.45% cap.
  3. Golden Coral in Pasadena, TX: 10,828 SF franchised buffet restaurant on 2 ac lot in Houston metro.  Tenant has been here since 2004 and just renewed 5 yrs extension.  100% NNN lease. NOI $179K/yr. with 10% rent bumps each 5 yrs option.$2.6M. 6.91% cap.
  4. Shopping Center in Springs, TX: 23,766 SF upscale shopping center on 6.8 ac lot in affluent Houston suburbs with AHI $127K/yr. 100% NNN leased to 9 tenants.  NOI $498K/yr. $6.876M. 7.25% cap.
  5. Shopping Plaza in Mesa, AZ: 94,894 SF well-maintained shopping plaza on 10.43 acres corner lot in Phoenix metro.  95% leased to 10 tenants.  NOI $562K/yr. $6.9M. 8.15% cap.
  6. Shopping Center in Phoenix, AZ: 100,260 SF shopping center on 7.54 ac lot at a signalized intersection.  98% leased to 13 tenants with 1 avail unit.  NOI $854K/yr. $10.49M. 8.15% cap.
  7. MOB in Columbus, OH: 6000 SF single-tenant medical office building completed in 1997 near Mount Carmel Hospital East.  100% leased to Trinity Health.  NOI $72K/yr. $800K.  9% cap.
  8. Apartments in Bakersfield, CA: 16-unit well-maintained 14,730 SF apartments built in 1970 consists of 15 2BR/1BA units and 1 3BR/2BA unit.  NOI $78K/yr. $11.19M. 6.6% cap.
  9. Retail Center in Arlington, TX: 55,005 SF shopping center adjacent to The Parks at Arlington Mall in Dallas metro. 100% leased.  NOI $585K/yr. $8.15M. 7.18% cap.


            (c) Transmercial 2014

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