Wednesday, September 3, 2014

08-20: MOB, O'Reilly Auto Parts, Business Park, Jiffy Lube, Shopping Center

  1. Shopping Center in North Richland Hills, TX: 22,260 SF retail center in affluent Dallas suburbs (AHI $143K/yr in 1 mile). Close to Walmart supercenter and Target.  $100% leased.  NOI $440K/yr. $5.5M. 8% cap.
  2. MOB in Haddonfield, NJ: 30,000 SF Class-A multi-tenant medical office building in growing and high income Philadelphia suburbs with an AHI of $93K/yr in 1 mile. 97% leased. NOI $272K/yr. $3.4M. 8% cap.
  3. MOB in Brook Park, OH: 18,444 SF well maintained medical office building constructed in 1999 on over 2 ac lot in Cleveland suburbs. Near Southwest General Hospital and I-71. 100% NNN leased. NOI $369K/yr. $4.1M. 9% cap.
  4. O’Reilly Auto Parts in Elgin, IL: 7616 SF auto center completed in 2008 on .76 ac lot in growing Chicago suburbs. Adjacent to Jewel-Osco Grocery Center. 100% NNN lease with 9-yrs left. NOI $171K/yr. $2.523M. 6.80% cap.
  5. Shopping Center in Austin, TX: 25,952 SF attractive shopping center at a busy corridor in growing & affluent area with an AHI of $105K/yr in 3 miles. Close to Home Depot and Walmart Supercenter. 100% leased to national, regional and local tenants. NOI $694K/yr. $10.286M. 6.75% cap.
  6. Strip Center in College Park, GA: 9000 SF well kept strip center on 1.23 ac lot at a major artery in Atlanta suburbs. Close to I-285. 75% leased. NOI $87K/yr. $1.25M. 7% cap.
  7. Business Park in Jacksonville, FL: 14,520 SF Class-B business center constructed in 2005 on 3.58 ac lot in a fast growing area. 93% leased. Pro forma NOI $103K/yr. $1.35M. 8% cap.
  8. Jiffy Lube in Monroeville, PA: 4154 SF auto center on .34 ac lot at a main retail thoroughfare in middle-class Pittsburgh suburbs. Between Monroeville Mall and I-376. 100% NNN lease. NOI $119K/yr with 7% rent increases every 5-yrs. $1.7M. 7% cap.

c) Transmercial 2014

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