Friday, October 31, 2014

10-17: multi family, Strip centers, Five Guys, CVS

  1. Multi-family in Everett, WA: 2 2-story four-plex with combined 8800 SF built in 1997 in Seattle metro with 2-car garage per unit. 100% occupied.  NOI $95K/yr. $1.09M. 7% cap.
  2. Strip Mall in Liberty Lake, WA: 10,843 SF 5-yrs old strip center on 2.28 ac lot in a rapidly growing and affluent suburb of Spokane. 100% NNN leased to 7 tenants.  NOI $145K/yr. $1.93M. 7.5% cap.
  3. Five Guys in Farmington, CT: 2100 SF fast food restaurant directly across from Tunxis Community College with an average of 6,000 students in Hartford metro.  AHI of $99K/yr in 1 mile.  10 yrs NNN- lease.  NOI $95K/yr. $1.58M. 6% cap.
  4. Shopping center in Pembroke Pines, FL: 21,342 SF 21-unit retail center in Fort Lauderdale metro.  NOI $161K/yr. $2.3M. 7% cap.
  5. Retail Center in Everett, WA: 11,908 SF retail center in Seattle metro.  Shadow anchored by Safeway.  90% NNN leased to 10 tenants.  NOI $372K/yr. $5.43M. 6.85% cap.
  6. CVS in Houston, TX: 12,000 SF drugstore in high growth, high income area.  100% NNN lease to CVS (BBB+ S&P rating) with 15 yrs left.  NOI $257K/yr. $4.292M. 6% cap.
  7. Shopping Center in Marysville, WA: 17,930 SF shopping center on 1.29 ac lot in middle class Seattle metro. 92% leased.  NOI $234K/yr. $3.1M. 7.56% cap.
  8. Shopping Center in Houston, TX: 87,248 SF shopping center on 7.31 ac lot. 82% leased.  9.6% cap.  NOI/price not avail.
  9. Shopping Center in Chicago, IL: 29,762 SF shopping center anchored by 18,750 SF Walgreens and shadow anchored by Shop and Save Market grocery store.  High income area with over 650K residents in 5 miles. NOI $550K/yr.  7.1M. 7.75% cap.  Buyer to assume $4.2M loan.
  10. Strip Center in La Mesa, CA: 8446 SF strip center on .59 ac lot in San Diego metro. 91% leased. NOI $108K/yr. $1.7M. 6.4% cap.



            (c) Transmercial 2014

Thursday, October 30, 2014

10-16: Auto Center, Office Building, Shopping Centers

  1. Shopping Center in Kent, WA: 51,178 SF attractive shopping center on nearly 5 ac lot anchored by Goodwill in growing Seattle suburbs. 93% NNN leased. NOI $463K/yr. $5.6M. 8.27% cap.
  2. Shopping Center in Indianapolis, IN: 59,783 SF shopping center on 8.39 ac outparcel to Walmart Supercenter in high income (AHI $92K/yr) area. 95% leased with excellent tenant mix. NOI $713K/yr. $9.25M. 7.71% cap.
  3. Retail Buildings in Wichita, KS: 32,071 SF Michaels and 8186 SF strip center at a major retail corridor. Adjacent to Walmart Supercenter an Lowe’s. 100% NNN leased. NOI $394K/yr. $5.636M. 7% cap.
  4. Auto Center in El Monte, CA: 10,000 SF L-shaped multi tenant auto center on .59 ac corner lot in densely populated Los Angeles County. 100% NNN leased. NOI $132K/yr. $2.29M. 5.80% cap.
  5. Retail Center in Tucker, GA: 15,350 SF retail center constructed in 2000 on 1.40 ac lot in Atlanta suburbs. 100% leased with good tenant mix. NOI $187K/yr. $2.25M. 8.35% cap.
  6. Strip Center in Crest Hill, IL: 9878 SF attractive strip center built in 2006 in fast growing (183% pop growth since 2000) Chicago metro. 86% NNN leased. NOI $127K/yr. $1.373M. 9.25% cap.
  7. Office Building in McKnight, PA: 27,000 SF attractive office building in high income Pittsburgh suburbs with an AHI of $97K/yr in a 3 mile ring. 100% leased to multiple tenants. NOI $126K/yr. $1.8M. 7% cap.
  8. Office Building in Winter Park, FL: 38,624 SF Class-B multi-tenant office building at a main artery in Orlando suburbs. Near Winter Park Memorial Hospital. 75% leased. Actual NOI $356K/yr. $4.1M. 8.70% cap.

            (C) Transmercial 2014

Wednesday, October 29, 2014

10-15: Kiddie Academy, Midas, Retail Buildings, Shopping Centers

  1. Shopping Center in Arlington, TX: 25,645 SF attractive shopping center built in 2005 on 3 ac lot in a fast growing & high income Fort Worth/Dallas suburbs. 75% NNN leased. NOI $309K/yr. $4.421M. 7% cap. Upside potential.
  2. Retail Building in Cortlandt Manor, NY: 4777 SF well maintained retail building on 1 ac lot along main corridor in affluent New York metro with an AHI of $142K/yr in 1 mile. 100% leased to Snap Fitness & Thyme Restaurant. NOI $107K/yr. $1.65M. 6.50% cap.
  3. Shopping Center in Virginia Beach, VA: 50,838 SF well maintained shopping center on over 4 ac lot anchored by G-Mart grocery at a signalized intersection in growing Norfolk suburbs. 100% NNN leased. NOI $376K/yr. $4.7M. 8% cap.
  4. Retail Center in Atlanta, GA: 18,000 SF attractive retail center on 2.62 ac lot anchored by DaVita along Hwy-279. 89% leased. NOI $131K/yr. $1.51M. 8.74% cap.
  5. Kiddie Academy in Naperville, IL: 11,896 SF franchised day care facility constructed in 2006 on 1.60 ac lot in growing and high income (AHI $96K/yr) Chicago suburbs. New 15-yrs NNN lease to an experienced operator. Near Westfield Fox Valley. NOI $258K/yr with 2.25% annual rent bumps. $3.045M. 8.50% cap.
  6. Retail Building in Westminster, CA: 6400 SF well maintained retail center at a corner location in densely populated Orange County. 100% NNN leased to two tenants. NOI $117K/yr. $2.35M. 5% cap.
  7. Retail Center in Katy, TX: 15,000 SF attractive retail center on 1.40 ac lot in affluent Houston suburbs with an AHI of $113K/yr in 3 miles radius. 100% leased to established tenants. Price/NOI N/A.
  8. Midas in Lisle, IL: 5019 SF franchised auto repair center built in 1992 in high income Chicago suburbs. 100% NNN lease with over 18-yrs left. NOI $60K/yr with 2% annual rent increases. $855K. 7.02% cap.
  9. Retail Center in Gurnee, IL: 6217 SF retail center on .80 ac lot at a major retail corridor in Chicago suburbs. Close to Six Flags Great America, Gurnee Mills Mall and I-94. 100% leased to Dunkin’ Donuts, Scottrade and Cravings Red Hot’s. NOI $152K/yr. $2.05M. 7.46% cap. 


            (c) Transmercial 2014

Tuesday, October 28, 2014

10-14: IHOP Restaurant, Omnicare, Retail Canters, Shopping Centers


  1. IHOP in Orlando, FL: restaurant with recent $350K remodel  on an off/on ramp of I-4. Close to The Mall at Millennia and Universal Studios Florida. 24.2% increase in sales since 2011 (2014 expected sales revenue of $1.2M). 100% NNN lease with 3-yrs left to a strong franchisee with over 150 units. NOI $65K/yr with percentage rent increases. $963K. 6.80% cap. Note: tenant's recent remodel is an indication to lease renewal.
  2. Omnicare in Coventry, RI: 21,600 SF single-tenant medical office building constructed in 1998 on 3 ac lot in growing Providence suburbs. Omnicare, a Fortune 500 tenant has been at this location since 1998. 100% NNN lease with 7-yrs left. NOI $137K/yr with 2% annual rent increases. $1.96M. 7% cap.
  3. Retail Center in Sunnyvale, CA: 16,246 SF well maintained retail center along major artery in affluent (AHI $100K/yr) Silicon Valley. NOI $526K/yr. $10M. 5.26% cap.
  4. Shopping Center in Livermore, CA: 41,525 SF well kept shopping center on 1.38 ac lot in growing high income (AHI $110K/yr in 3 mile radius) city East of San Francisco. Tenants include: include Prudential Real Estate, Valley Care Health Systems, Hair Salon, Dance Studio, Cafe, Yoga Studio, Toy Store and CPA. 96% leased. NOI $625K/yr. $8.995M. 6.75% cap.
  5. Retail Center in Hurst, TX: 10,775 SF newly remodeled retail center on 1 ac lot in growing and affluent Dallas/Fort Worth suburbs with an AHI of $106K/yr in 1 mile. 100% NNN leased. NOI $127K/yr. $1.425M. 8% cap.
  6. Neighborhood Center in Savannah, GA: 126,320 SF well kept shopping center on over 13 ac corner lot anchored by Save-A-Lot market. 85% leased. Actual NOI $897K/yr. $9.97M. 9% cap. Upside potential.
  7. Shopping Center in Fresno, CA: 51,123 SF shopping center on over 4 ac lot at a signalized intersection at a busy retail thoroughfare. Close to Hwy-99. 88% NNN leased. NOI $691K/yr. $9.875M. 7% cap.
  8. Strip Center in Orem, UT: 7500 SF attractive strip center in Salt Lake City suburbs. Close to University Mall. 67% NNN leased to Enterprise Rent a Car, Sensuous Sandwich, and EZ Loan. Actual NOI $83K/yr. $1.1M. 7.60% actual cap. Upside potential when fully occupied.
  9. Shopping Center in Fenton, MI: 94,455 SF shopping center on over 9 ac corer lot anchored by VG’s Grocery in growing upper middle class Detroit suburbs. 82% NNN leased. Actual NOI $344K/yr. $4.193M. 8.22% cap. Upside potential.
  10. Office Building in San Jose, CA: 13,920 SF well maintained office building on .73 ac lot in densely populated and affluent Silicon Valley. Close to Santa Clara Valley Medical Center and I-280. Leased to multiple tenants. NOI $180K/yr. $3M. 6% cap.


            (c) Transmercial 2014

Monday, October 27, 2014

10-13: Carinos Italian Restaurant, Motel, Del Taco, Taco Bell, Chevron service station, Office Max, Rite Aid


  1. Retail Center in Orlando, FL: 9120 SF well maintained retail center on over 1 ac lot at a major corridor adjacent to Florida Mall. 100% NNN leased. Pro forma NOI $148K/yr. $1.999M. 7.40% cap.
  2. Carinos Restaurant in El Paso, TX: 6257 SF Italian Restaurant completed in 1995 on 1.79 ac lot in a growing border City. Next to 1,150,000 SF Southland Park Mall. Easy access to I-10. 100% NNN lease with 8-yrs left. NOI $190K/yr. $2.715M. 7% cap.
  3. Retail Center in Altoona, IA: 33,379 SF attractive retail center on nearly 5 ac lot in upper middle-class (AHI $82K/yr) Des Moines suburbs. Near Walmart, Target, Lowe’s, Menard’s and Hwy-65. 95% NNN leased. NOI $413K/yr. $4.868M. 8.50% cap. Upside potential.
  4. Motel in San Francisco, CA: 67-room well kept motel at a corner location close to tourist attractions. $8.35M.
  5. Del Taco in Bakersfield, CA: 2164 SF Del Taco restaurant constructed in 1998 on nearly 1 ac lot on an off/on ramp of Hwy-99. 100% absolute NNN lease with 5-yrs left. NOI $166K/yr. $2.375M. 7.01% cap.
  6. Taco Bell in Warren, MI: 2252 SF drive-thru fast food restaurant built in 1992 on .60 ac lot at a major artery in Detroit suburbs. 100% absolute NNN lease with 4-yrs left to a strong franchisee with over 120-units. NOI $82K/yr with a 2% rent bump in 2016. $1.1M. 7.51% cap.
  7. Office Max in Round Lake Beach, IL: 23,500 SF single-tenant retail building at a major retail corridor in a growing and upper middle-class Chicago suburbs. 100% NNN recently extended lease with 6-yrs left. NOI $229K/yr. $2.95m. 7.77% cap.
  8. Chevron Gas Station and Retail Building in Modesto, CA: 2806 SF remodeled gas station and retail building on .66 ac lot at a signalized location . Also leased by Car Detailing and Smog Center. Across from Target center. 100% NNN leased. NOI $140K/yr. $1.6M. 8.75% cap.
  9. Strip Center in Menlo Park, CA: 9180 SF completely remodeled strip center along El Camino Real in affluent (AHI $121K/yr) Silicon Valley area. 100% leased. NOI $213K/yr. $3.55M. 6% cap.
  10. Rite Aid in Englewood, OH: 10,004 SF Rite Aid Pharmacy at a hard corner location in growing Dayton suburbs. Across from Kroger grocery store. Tenant has been at this location since 1995. 100% NNN recently extended corp lease with 6-yrs left. NOI $142K/yr. $1.841M. 7.75% cap.


            (c) Transmercial 2014

10-10: Hardee's, MOB, Red Lobster, Taco Bell, Office Buildings


  1. Hardee’s in Algonquin, IL: 3236 SF franchised fast food restaurant on 1 ac lot in upper middle-class Chicago suburbs with an AHI of $86K/yr. New 20–yrs absolute NNN lease to a strong franchise with 171 units. NOI $133K/yr with 5% rent bumps every 5-yrs. $1.9M. 7% cap.
  2. Retail Center in Southaven, MS: 19,259 SF attractive retail center built in 2006 on 1.89 ac lot in growing Memphis metro. Shadow anchored by Malco DeSoto Cinema. Adjacent to major centers, near Baptist Memorial Hospital and I-55/69. 100% NNN leased to national & regional tenants. NOI $280K/yr. $3.19M. 8.80% cap.
  3. Shopping Center in Lawrenceville, GA: 40,000 SF attractive retail center on 3.60 ac lot along main corridor in growing Atlanta suburbs. Near Hwy-316. 84% NNN leased. NOI $525K/yr. $7M. 7.50% cap.
  4. MOB in Fresno, CA: 5181 SF single-tenant medical office building renovated in 2009 on .65 ac corner lot. 100% leased with 2-yrs left to Prospice Medical Group, specializing in occupational and non-occupational injuries. NOI $56K/yr. $750K. 7.48% cap.
  5. Shopping Center in South Holland, IL: 34,288 SF well maintained shopping center on 2½ ac lot anchored by Family Dollar in Chicago suburbs. Near River Oaks Center Mall and I-94. 100% leased. NOI $251K/yr. $3.45M. 7.30% cap.
  6. Red Lobster in Montclair, CA: 6233 SF sea food restaurant in a high income area and in densely populated San Bernardino County. Outparcel to 1,200,000 SF Montclair Plaza Regional Mall with, Nordstrom, Macy’s and Sears. Near I-10.  100% absolute NNN corp lease with 5-yrs left. NOI $162K/yr. $3.2M. 5.06% cap.
  7. Taco Bell in Glen Cove, NY: 2420 SF attractive fast food restaurant on .56 ac lot along main corridor in affluent (AHI $104K/yr) New York suburbs. Adjacent to Glen Cove Hospital. New 15-yrs absolute NNN lease. NOI $102K/yr with 10% rent bumps every 5-yrs. $2.04M. 5% cap.
  8. Office Building in Daytona Beach, FL: 31,626 SF newly renovated multi-tenant office building on over 3 ac lot. Close to Daytona International Airport. 100% leased. NOI $284K/yr. $3.95M. 7.20% cap.
  9. Shopping Center in Oakley, CA: 27,490 SF attractive shopping center at a corner location in upper middle class Contra Costa County with an AHI of $93K/yr in a 3 mile ring. Credit tenants include: Radio Shack, Great Clips, Chase Bank and GNC. Shadow anchored by Lucky Supermarket and Rite Aid. 94% leased. Pro forma NOI $558K/yr. $8.95M. 6.20% pro forma cap.
  10. Retail Center in Farmington, MI: 27,619 SF shopping center at a signalized intersection along major retail artery. Good demographics: fast growing and high income area with $102K/yr in a 3 mile ring. 100% NNN leased. NOI $406K/yr. $5.8M. 7.01% cap.


            (c) Transmercial 2014

10-09: KFC, AutoZone, Dunkin' Donuts, Office Building, Retail Center


  1. Retail Center in Houston, TX: 17,412 SF retail center built in 2008 on 1.76 ac lot in a fast growing area. All units face main corridor. 100% leased. NOI $334K/yr. $3.7M. 9.05% cap.
  2. KFC in Syracuse, NY: 2560 SF established fast food restaurant constructed in 1998 on .56 ac corner lot in a growing area. Close to St. Joseph’s Hospital and I-81. 20-yrs NNN corp ground lease (land is for sale) with 4-yrs left. NOI $57K/yr. $827K. 7% cap.
  3. Retail Center in Las Vegas, NV: 11,759 SF eye-catching retail center completed in 2006 on 1.31 ac lot at a hard corner location and in a high income area. Near Spring Valley Hospital. Credit tenants include: The Coffee Bean and Tea Leaf. 100% leased. NOI $229K/yr. $3.5M. 6.56% cap.
  4. Office Building in Anaheim, CA: 4441 SF well maintained single-tenant office building in densely populated Orange County with over 600,000 residents in 5 a mile ring. 100% leased. NOI $66K/yr. $1M. 6.69% cap.
  5. AutoZone in San Bernardino, CA: 10,500 SF AutoZone on .66 ac outparcel to Harbor Freight Tools and Mike & Judies Grocery Warehouse. Near Inland Center Mall with easy access to I-215.  100% leased.  NOI $126K/yr. $2.027M. 6.25%cap.
  6. Shopping Center in Phoenix, AZ: 60,234 SF attractive recently remodeled shopping center on nearly 6 ac lot anchored by Goodwill. Near I-17. 85% leased. NOI $592K/yr. $7.95M. 7.45% cap. Upside potential.
  7. Dunkin’ Donuts in Amherst, NY: 3050 SF single tenant retail building constructed in 2004 on over 1 ac lot at a hard corner location. Across from SUNY University at Buffalo Medical School with roughly 30,000 students. 100% NNN absolute NNN ground lease (land is for sale). NOI $69K/yr. $1.275M. 5.49% cap.
  8. Office Building in Massapequa, NY: 6000 SF office at a corner location in affluent (AHI $112K/yr) New York coastal city. 100% leased to multiple tenants. NOI $85K/yr. $1.1M. 8% cap.  


            (c) Transmercial 2014

10-08: Mixed-use, MOB's, Advance Auto Parts, Retail Centers


  1. Retail Center in Lehigh Acres, FL: 13,588 SF retail center built in 2006 on 1.40 ac lot at a main corridor in Cape Coral suburbs. 100% leased with good tenant mix. NOI $105K/yr. $1.25M. 8.40% cap.
  2. Office Building in Mountainside, NJ: 20,000 SF Class-B office building in prosperous New York metro with an AHI of $123K/yr in 1 mile. Close to Children’s Specialized Hospital. 86% leased. Actual NOI $281K/yr. $3.517M. 8% cap. Upside potential.
  3. Mixed-use Center in Winter Garden, FL: 38,611 SF well kept retail & office center built in 2006 on 2½ ac lot  in growing upper middle-class Orlando suburbs. 85% leased. NOI $282K/yr. $3.4M. 8.30% cap.
  4. Retail Center in Appleton, WI: 28,050 SF eight units renovated retail center close to Appleton Medical Center. 100% leased. NOI $164K/yr. $2.35M. 7% cap.
  5. AAP in Lawrenceville, GA: 7000 SF Advance Auto Parts  center constructed in 1998 on .82 ac lot in growing Atlanta suburbs. New 7-yrs NNN- corp lease. NOI $86K/yr with rent increase in year 5.   $1.35M. 6.38% cap.
  6. Retail Center in Orlando, FL: 5251 SF attractive retail center built in 2006 close to Waterford Lakes Town Center with over 100 stores. 100% leased. NOI $97K/yr. $1.199M. 8.13% cap.
  7. MOB in Charlotte, NC: 8326 SF Class-B single-tenant medical office building completed in 2005 on .45 ac lot adjacent to Presbyterian Hospital and Carolinas Medical Center-Mercy. 100% leased to highly rated Urologist Specialists of Carolinas. $3.2M. Cap N/A.
  8. MOB in Huber Heights, OH: 14,922 SF high quality constructed medical office building in Dayton suburbs. With easy access to I-70. NNN leased with long term tenants. NOI $146K/yr. $1.295M. 11.33% cap.
  9. MOB in Bartlett, TN: 7010 SF well maintained multi-tenant medical office building on over 1 ac lot in Memphis suburbs. Near Saint Francis Hospital-Bartlett. 100% NNN leased to two established medical practices. NOI $114K/yr. $1.2M. 9.50% cap.
  10. MOB’s in Wheaton, IL: 45,269 SF Class-A consisting of two  high-quality construction medical buildings anchored by Cadence Health (78% of space) in high income (AHI $109K/yr) Chicago suburbs. NNN leased to multiple tenants. 6.5% cap. Price N/A.


            (c) Transmercial 2014

10-07: Conn's, Shopping Centers, Retail Centers


  1. Shopping Center in Warren, MI: 38,408 SF well maintained shopping center on 3.52 ac lot anchored by CVS Pharmacy in Detroit suburbs. NNN leases. NOI $335K/yr. $3.727M. 9% cap.
  2. Retail Center in Petaluma, CA: 12,186 SF retail center built in 2008 on 2.42 ac lot in a high income city North of San Francisco.  Easy access to the main hwy 101. 72% leased. Pro forma NOI $259K/yr. $3.55M. 7.32% cap.
  3. Retail Center in Miami Gardens, FL: 24,579 SF attractive retail center built in 2006 on over 2 ac lot at a hard corner location in Miami suburbs. Anchored by Chili’s, Bank of America and Foot Locker. 95% leased. NOI $728K/yr. $9.8M. 7.43% cap.
  4. Conn’s in Baton Rouge, LA: 49,984 SF electric and appliance store on nearly 3 ac lot at a major retail artery. Near Cortana Mall with Walmart, Sam’s, JCPenny, Macy’s, Dillard’s and Sears. 100% NNN lease with 4-yrs left. NOI $218K/yr. $2.91M. 7.50% cap.
  5. Shopping Center in Marietta, GA: 40,985 SF beautiful shopping center constructed in 2006 on 8 ac lot at a major corridor in affluent (AHI $112K/yr in 3 miles) Atlanta MSA. 93% NNN leased. NOI $692K/yr. $8.65M. 8.01% cap.
  6. Shopping Center in Winchester, VA: 33,906 SF attractive shopping center constructed in 2003 on over 4 ac lot in a growing city East of Washington DC. 90% NNN leased. Actual NOI $420K/yr. $5.25M. 8% cap. Upside potential.
  7. Retail Center in Grapevine, TX: 11,900 SF retail center built in 2008 on 2.40 ac lot in fast growing and high income (AHI $111K/yr in 3 mile ring) Fort Worth/Dallas metro. Tenants include Café Italia, Lux Nails and Spa, Lifetime Family Health, Rx Pharmacy, Chelsea Pizza, Good Morning Donuts, State Farm Insurance and ABCO Salon & Spa Services. 100% leased. NOI $196K/yr. $2.65M. 7.40% cap.
  8. Shopping Center in Lakewood, WA: 56,513 SF consisting of four retail centers on 3.82 ac lot at a signalized intersection in growing Tacoma suburbs. NOI $484K/yr. $6.43M. 7.53% cap. 
  9. Retail Center in Spring, TX: 18,100 SF well kept retail center along main thoroughfare in high income Houston suburbs with an AHI of $91K/yr in 1 mile. 90% leased with good tenant mix. NOI $180K/yr. $2.3M. 7.85% cap.
  10. Shopping Center in North Richland Hills, TX: 32,510 SF attractive shopping center completed in 2003 in high income (AHI $83K/yr in 3 miles) Fort Worth/Dallas suburbs. 100% leased. NOI $469K/yr. $5.868M. 8% cap.
                       

            (c) Transmercial 2014 

10-06: MOB, KFC, Furr's Family Buffet, Shopping Centers


  1. MOB in Altamonte Springs, FL: 28,488 SF well maintained medical office building on over 1 ac lot. Across from 340-bed Florida Hospital. Close to Altamonte Mall and I-4. 100% leased to twelve tenants. NOI $400K/yr. $5.62M. 7.13% cap.
  2. Retail Building in Keller, TX: 9171 SF attractive retail center in a fast growing area. Across from Kroger Center. With easy access to I-35W. NNN leased. NOI $168K/yr. $2.1M. 8% cap.
  3. Strip Center in League City, TX: 6747 SF seven units strip center on .89 ac corner lot in growing and upper middle class Houston suburbs.   100% leased. 7.55% cap. Price N/A.
  4. Shopping Center in Watauga, TX: 45,888 SF attractive shopping center at a hard corner location in growing Fort Worth MSA. Major tenants include: Tuesday Morning, Dollar Tree and Chase Bank. Shadow anchored by 58,700 SF Albertsons grocery. 94% leased with only 1 vacancy. NOI $470K/yr. $6.715M. 7% cap. Upside potential.
  5. MOB in Saint Clair Shores, MI: 11,112 SF well kept medical office building completed in 1997 on 1+ ac lot in Detroit suburbs. 100% leased to multiple tenants. NOI $192K/yr. $2M. 9.64% cap.
  6. KFC in Wichita, KS: 2555 SF fast food restaurant on .65 ac lot along main corridor. Close to Brittany Center, a Power Center. Tenant has been at this location for over 30-yrs. 100% NNN lease with 2-yrs left. NOI $59K/yr. $720K. 8.25% cap.
  7. Furr’s in Lubbock, TX: 11,079 SF well maintained family buffet restaurant on an off/on ramp of Hwy-289. 100% NNN lease with 8-yrs left to a strong regional tenant with 25-units. NOI $174K/yr. $2.32M. 7.50% cap.
  8. MOB in Tempe, AZ: 13,000 SF Class-B medical office building in growing Phoenix suburbs. 100% leased to Desert Endoscopy Center and Chrysalis Academy, a private day school for individuals on the autism spectrum. NOI $260K/yr. $2.978M. 8.75% cap.
  9. Shopping Center in Austell, GA: 35,150 SF attractive shopping center built in 2000  in Atlanta suburbs.  Anchored by Gold's Gym and  shadow-anchored by Regal Cinema. NOI $347K/yr. $4.086M. 8.50% cap.
  10. MOB in Spring, TX: 12,750 SF medical building on nearly 2 ac lot in growing and affluent (AHI $163K/yr in 1 mile) Houston suburbs. All units face main corridor. 90% leased with only 1 vacancy. $2.459M. NOI N/A.


            (c) Transmercial 2014

Friday, October 17, 2014

10-03: MOB, Medical Plaza, Dollar General, Wienerschnitzel, Retail Centers

  1. Retail Center in Carol Stream, IL: 22,891 SF retail center on nearly 2 ac lot in high income (AHI $91K/yr in a 3 mile ring) Chicago suburbs. 85% NNN leased to long-term tenants. NOI $201K/yr. $2.34M. 8.59% cap.
  2. MOB in Richardson, TX: 13,754 SF Class-B medical office building at a signalized location in growing upper middle class Dallas suburbs. Good tenant mix: dentist, oral surgery and internal medicine doctors. 77% leased. NOI $162K/yr. $2.01M. 8.13% cap.
  3. Medical Plaza in Phoenix, AZ: 13,999 SF Class-B multi-tenant medical office along main corridor. 91% leased. NOI $128K/yr. $1.78M. 7.20% cap.
  4. Office Building in Lake Forest, IL: 7167 SF Class-B office building in affluent Chicago metro with an AHI of $141K/yr in 3 miles. Close to Northwestern Lake Forest Hospital. 100% leased to multiple tenants. NOI $131K/yr. $1.95M. 6.70% cap.
  5. Office Building in Windsor, CA: 31,213 SF Class-A office building constructed in 1994 on 2.75 ac lot in a high income & stable town just North of San Francisco. Adjacent to Safeway and Raley’s Grocery centers. Easy access to Hwy-101. 85% leased. NOI $403K/yr. $6.6M. 6.11% cap.
  6. Dollar General in Gastonia, NC: 9190 SF all brick constructed retail building completed in 2011 on over 1 ac corner lot in a fast growing and high income (AHI $95K/yr) Charlotte metro.  15-yrs absolute NNN lease with 12-yrs left. NOI $114K/yr. $1.914M. 6% cap.
  7. MOB in Ocoee, FL: 5687 SF attractive medical office building on .78 ac lot in high income Orlando suburbs. Close to Health Central Hospital. 100% leased. NOI $82K/yr. 1.378M. 6% cap.
  8. Wienerschnitzel in Rosemead, CA: 432 SF fast food restaurant at a corner location in densely populated Los Angeles area with over 600,000 residents in 5 mile ring. 100% absolute NNN lease with 8-yrs left. NOI $36K/yr with rent increases. $725K. 5% cap.


(c) Transmercial 2014

Thursday, October 16, 2014

10-02: Long John Silver's & A&W, Walgreens, 7-Eleven, Mixed-Use, MOB

  1. MOB in Auburn, WA: 8878 SF well kept medical office building in Seattle suburbs anchored by Breast Diagnostic Centers. 88% leased by medical/dental tenants. NOI $112K/yr. $1.365M. 8.25% cap.
  2. Long John Silver’s & A&W in Las Vegas, NV: 2847 SF dual branded fast food restaurant constructed in 2004 on .68 ac lot along busy corridor. 20-yrs NNN ground lease (land is for sale) with over 10-yrs left. NOI $66K/yr with 10% rent bumps every 5-yrs. $1.1M. 6.04% cap.
  3. Professional Center in Fresno, CA: 14,690 SF consisting of four well maintained professional buildings on over 1 ac corner lot. Close to Hwy-41. 93% leased to medical and professional tenants. Actual NOI $89K/yr. $1.1M. 8.10% cap. Upside potential.
  4. Retail Center in Apache Junction, AZ: 10,000 SF nine-unit retail center in Phoenix suburbs. 100% leased. Pro forma NOI $95K/yr. $1.125M. 8% cap.
  5. Retail Building in Scottsdale, AZ: 5068 SF attractive retail building at a main retail corridor in high income ($98K/yr) Phoenix suburbs. 100% leased to two long term tenants. $1.15M. NOI N/A.
  6. Walgreen’s in Daytona Beach, FL: 13,905 SF well maintained drive-thru drug store on 1.55 acres lot at a hard corner location.  100% NNN lease with 2 yrs left. NOI $226K/yr. $2.827M. 8% cap.
  7. Golden Corral in Irving, TX: 9,611 SF buffet restaurant built in 1997 on 1.50 ac lot near Irving Mall and Fwy-183. 15-yrs absolute NNN corporate lease with over 13-yrs left. NOI $187K/yr with 10% rent increases every 5 years. $2.5M. 7.5% cap.
  8. Office Building in Glen Ellyn, IL: 101,000 SF well maintained value-add office buildings on 5 ac lot in growing and affluent Chicago suburbs with an AHI of $106K/yr in 1 mile ring. With easy access to I-355. 61% leased. Actual NOI $470K/yr. $5.6M. 8.40% cap. Upside potential when fully occupied!
  9. Mixed-use in Tenafly, NJ: 15,000 SF Class-B office/retail building in densely populated and affluent (AHI $137K/yr in 1 mile) New York suburbs. 90% NNN leased to regional and local tenants. NOI $165K/yr. $2.75M. 6% cap.
  10. 7-Eleven in Vallejo, CA: 2160 SF well maintained convenience store on .18 ac corner lot in San Francisco metro. 100% NNN- corp lease with 5-yrs left. NOI $58K/yr. $1.09M. 5.35% cap. 


            (c) Transmercial 2014

10-01: PetSmart, MOB, Tuffy, Walgreens, Shopping Centers

1.       PetSmart in San Bernardino, CA: 24,994 SF retail building constructed in 1993 on .73 ac lot. Part of Tri-City Corporate Center, a mixed-use development of office, retail and hospitality. Tenant has been at this location since 2004. Recently renewed 10-yrs NNN corp lease. NOI $264K/yr. $4.2M. 6.30% cap.
2.       Shopping Center in Lilburn, GA: 46,950 SF attractive shopping center on 6.89 ac lot along main artery in Atlanta suburbs. Shadow anchored by Walmart and Home Depot. 95% leased. $8.4M. NOI N/A.
3.       Retail Center in Palmdale, CA: 27,455 SF attractive retail center on over 2 ac lot in a fast growing city in Southern California. Shadow anchored by Food 4 Less and Rite Aid. 89% NNN lased. Actual NOI $368K/yr. $6.14M. 6% cap. Upside potential.
4.       Strip Center in Oceanside, CA: 10,840 SF well maintained strip center on nearly 1 ac lot in a coastal city in Southern California. Tenants include: Boost Mobile, El Indio, Cox Communications, Cricket Wireless, Freeway Insurance, Payless ShoeSource and The Check Cashing Place. 87% NNN leased. NOI $245K/yr. $4.085M. 6% cap.
5.       MOB in Northglenn, CO: 18,000 SF Class-B multi-tenant medical office building on over 2 ac lot in growing upper middle-class Denver suburbs. 95% leased. NOI $210K/yr. $2.8M. 7.50% cap.
6.       Tuffy in Orlando, CA: 4032 SF auto service center constructed in 2005 on .70 ac outparcel to Publix Grocery center. 20-yrs absolute NNN corp lease with 11-yrs left. NOI $97K/yr with 8.75% rent bumps every 5-yrs. $1.53M. 6.40% cap.
7.       Shopping Center in Cedar Falls, IA: 64,594 SF attractive shopping center shadow anchored by Kohl’s. Adjacent to College Square Mall. 100% NN leased. NOI $408K/yr. $5.1M. 8% cap.
8.       Walgreen’s in Fort Worth, TX: 15,120 SF drive-thru pharmacy on 1.60 ac lot at a signalized intersection. With four points of ingress/egress. 20-yrs NNN lease with 5-yrs left. NOI $296K/yr. $4.228M. 7% cap.
9.       Shopping Center in Tyler, TX: 24,090 SF newly constructed shopping center on 2.86 ac lot at a main thoroughfare. Close to Broadway Square Mall with Dillard’s, JCPenney and Sears. 92% NNN leased. NOI $517K/yr. $7.344M. 7% cap.
(c) Transmercial 2014

Tuesday, October 14, 2014

09-30: O'Reilly Auto Parts, Rite Aid, Professional Center, MOB, Shopping Centers


  1. Shopping Center in Katy, TX: 21,350 SF attractive shopping center built in 2008 on over 2 ac lot n growing and affluent (AHI $149K/yr) Houston suburbs. 100% NNN leased. NOI $487K/yr. $6.515M. 7.48% cap.
  2. O’Reilly in Elgin, IL: 7616 SF O’Reilly Auto Parts constructed in 2008 on .76 ac lot along main corridor in Chicago suburbs. Adjacent to Jewel-Osco Grocery center. 15-yrs NNN- lease with over 9-yrs left. NOI $171K/yr with a 10% rent increase in 2018. $2.523M. 6.8% cap. NOTE: flyer not available, full brochure upon request.
  3. MOB in Sheffield Village, OH: 35,799 SF multi-tenant medical office building completed in 2000 on 6.48 ac lot in high income Cleveland suburbs. 82% leased. Actual NOI $332K/yr. $4.43M. 7.50% cap. Upside potential.
  4. Office Building in Littleton, CO: 93,069 SF Class-B office building renovated in 2010 on over 6 ac lot in affluent (AHI $104K/yr) Denver suburbs. Close to Littleton Adventist Hospital. 95% leased. NOI $1.017M/yr. $12.5M. 8.14% cap.
  5. Rite Aid in Warwick, RI: 11,322 SF attractive Rite Aid Pharmacy built in 1993 on 1 ac lot in Providence metro. 20-yrs absolute NNN corp lease with 14-yrs left. NOI $214K/yr with 10% rent bumps every 10-yrs. $3.18M. 6.75% cap.
  6. Shopping Center in Stone Mountain, GA: 55,730 SF well maintained shopping center on 7.56 ac lot anchored by Citi Trends and Dollar General in growing Atlanta suburbs. 81% NNN leased. NOI $198K/yr. $1.975M. 10.04% cap. Only $35.44 per SF.
  7. Shopping Center in Red Oak, TX: 45,761 SF attractive shopping center in growing Dallas suburbs. All units face main corridor. Adjacent to Walmart Supercenter and near I-35E. 97% leased. NOI $648K/yr. $8.1M. 8% cap.
  8. Office Building in Westminster, CO: 30,959 SF Class-A office building on 1.85 ac lot in growing upper middle-class Denver suburbs. With easy access to I-25. 96% leased. NOI $327K/yr. $3.99M. 8.20% cap.
  9. Professional Center in Bellevue, NE: 54,846 SF Class-B office building constructed in 1998 on over 6 ac lot in growing Omaha suburbs. Credit tenant include: VA Medical Clinic, Gallup, Bellevue Family Practice, Leidos and Excel Physical Therapy. 90% leased. NOI $607K/yr. $7.5M. 8.10% cap. Upside potential.
  10. MOB in Dublin, OH: 11,380 SF Class-A medical office building completed in 2001 in high income (AHI $86K/yr) Columbus suburbs. Close to mall at Tuttle Crossing and I-270. 93% leased to quality tenants. NOI $157K/yr. $2.095M. 7.50% cap.


            (c) Transmercial 2014

Monday, October 13, 2014

09-29: NTB; MOB, Strip Centers, Retail Centers

  1. Retail Center in Montgomery, AL: 18,720 SF attractive retail center built in 2007 on 2 ac lot along busy retail artery in high income (AHI $94K/yr) area. 86% NNN lased to seven tenants. NOI $245K/yr. $2.975M. 8.25% cap. Upside potential.
  2. Retail Center in Joliet, IL: 13,194 SF retail center constructed in 2006 on 2 ac lot at a signalized corner location. Across from Joliet Junior College and near I-80. 100% NNN leased. NOI $258K/yr. $3.2M. 8.08% cap.
  3. Office Building in Fort Worth, TX: 9508 SF Class-A multi-tenant office building constructed in 2007 in fast growing and upper middle-class area. Close to I-35W. 100% NNN leased. NOI $146K/yr. $1.949M. 7.5% cap.
  4. Retail Center in Amityville, NY: 16,000 SF well maintained retail center on nearly 1 ac lot at a corner location in high income (AHI $99K/yr in 3 mile ring) coastal town in New York suburbs. 70% leased. NOI $300K/yr. $4.25M. 7.07% cap.
  5. Retail Center in Warner Robins, GA: 24,549 SF retail center part of Willow Lake Crossing, a 354,050 SF Power Center with Target and Hobby Lobby. National tenants include: Mattress Firm and Hancock Fabrics. Across from 545,500 SF Galleria Mall. 100% NNN leased.  NOI $215K/yr. $3.093M. 7% cap.
  6. Strip Center in Kennewick, WA: 9898 SF strip center constructed in 2004 on .86 ac lot. Adjacent to Costco and Columbia Center, a regional mall. 86% leased. Actual NOI $146K/yr. $2.09M. 7% cap.
  7. MOB in Omaha, NE: 9600 SF Class-B newly constructed medical office building in growing and affluent neighborhood with an AHI of $102K/yr in 3 mile radius. Close to 77-bed Lakeside Hospital. 100% NNN leased to multiple tenants. NOI $189K/yr. $2.8M. 6.75% cap.
  8. National Tire & Battery in Bloomington, MN: 7440 SF auto center on .76 ac lot at a corner location in Minneapolis suburbs. 20-yrs absolute NNN corp lease with 18-yrs left. NOI $138K/yr with 10% rent bumps every 5-yrs. $2.2M. 6.30% cap.
  9. Retail Building in Apple Valley, CA: 8000 SF well maintained retail center on .41 ac lot in San Bernardino County. Adjacent to St. Mary Medical Center. 100% leased. NOI $70K/yr. $1.18M. 6% cap.
  10. Retail Center in Sacramento, CA: 12,500 SF attractive retail center on nearly 1 ac lot along main corridor in upper middle-class area. 100% leased. NOI $239K/yr. $4.525M. 5.28% cap.


            (c) Transmercial 2014

Friday, October 10, 2014

09-26: Mixed-use, MOB, Retail Centers, Strip Centers

  1. Strip Center in San Bernardino, CA: 6004 SF attractive strip center built in 1997 on .58 ac lot. Part of Tri-City Corporate Centre, a mixed-use development consisting of office, retail and hospitality totaling over 1.69 million SF. 100% NNN leased to Panda Express, Juice It Up! And Baja Fresh. NOI $129K/yr. $2.276M. 5.70% cap.
  2. Mixed-use in Peoria, AZ: 15,556 SF medical & retail building completed in 2006 on .61 ac lot in growing upper middle-class Phoenix suburbs. 100% leased. NOI $321K/yr. $4.425M. 7.26% cap.
  3. Retail Center in Miamisburg, OH: 10,088 SF retail center built in 2008 at a signalized corner location in Dayton suburbs. 63% leased. Pro Forma NOI $146K/yr. $1.25M. 11.70% pro forma cap.
  4. MOB in Sacramento, CA: 20,992 SF well maintained multi-tenant medical office building anchored by Kaiser Permanente. Near Mercy General Hospital. 100% leased. NOI $265K/yr. $3.4M. 7.80% cap.
  5. Retail Center in Jonesboro, GA: 9600 SF attractive retail center built in 2007 on 1.23 ac lot on a main corridor in Growing Atlanta suburbs. 88% NNN leased. NOI $98K/yr. $1.05M. 9.38% cap. Upside potential when fully leased!
  6. MOB in Munster, IN: 16,972 SF Class-A medical office building in Chicago suburbs. Close to community Hospital. 100% leased to multiple tenants. NOI $248K/yr. 3.5M. 7.10% cap.
  7. MOB in McKinney, TX: 11,116 SF Class-B multi-tenant medical office building on over 1 ac lot in a growing (173% pop growth since 2000) and affluent (AHI $106K/yr) Dallas metro. 100% leased. NOI $184K/yr. $2.3M. 8% cap.
  8. Retail Center in Stockton, CA: 15,314 SF retail center built in 2008 on 1.84 ac lot at a signalized location. Next to Costco. 100% leased to strong national, regional and local tenants.  NOI $431K/yr. $6.646M. 6.50% cap.
  9. Office Building in Fair Oaks, CA: 15,384 SF nineteen units well kept office building on over 1 ac lot in Sacramento suburbs. Close to Mercy San Juan Medical Center. 70% leased. Actual NOI $77K/yr. $1.1M. 7% cap. Upside potential.
  10. Retail Center in Duluth, GA: 10,000 SF well maintained retail center on over 1 ac lot in growing Atlanta suburbs. All units face main corridor. 90% leased. $1.925M. Cap N/A.


(c) Transmercial 2014

Thursday, October 9, 2014

09-25: Arby's, OSH, Adult Day Care, Auto Center, Popeye's, Retail Center

  1. Shopping Center in Harwood Heights, IL: 31,917 SF well maintained shopping center on 1.68 ac lot in Chicago suburbs. 86% leased to national and local retailers including: The Bedding Experts, Pepe's Mexican Restaurant, Plato's Closet, and Once Upon a Child. $3.75M. Cap N/A.
  2. MOB in Papillion, NE: 33,317 SF Class-B multi-tenant medical office building constructed in 1998 in growing and upper middle-class Omaha suburbs. Across from 121-bed Midlands Hospital. 90% NNN leased. NOI $448K/yr. $6.413M. 7% cap.
  3. Arby’s in San Bernardino, CA: 2416 SF Arby’s Restaurant on .45 ac lot in growing San Bernardino County. Adjacent to Inland Center Mall and near San Bernardino Valley College and I-215. Tenant has been at this location since 1988. Tenant will be paying $150K to remodel store in 2015. Brand new 20-yrs absolute NNN lease. NOI $90K/yr with 8% rent bumps every 5-yrs. $1.5M. 6% cap.
  4. Orchard Supply Hardware in Hanford, CA: 43,790 SF attractive single tenant retail building constructed in 1996 on 5.56 ac lot. 100% NNN corp lease with 5-yrs left. NOI $345K/yr. $5M. 7% cap.
  5. Adult Day Care Facility in Corona, CA: 8000 SF well maintained established adult health care facility in affluent (AHI $124K/yr) Riverside County. With easy access to Hwy-91. 7-yrs NNN recently renewed lease.  NOI $149K/yr with 3% rent increases starting in year 4. $2.37M. 6.32% cap.
  6. Shopping Center in Indianapolis, IN: 82,087 SF well kept shopping center completed in 1982 on over 10 ac lot anchored by Planet Fitness. Shadow-anchored by Kroger Grocery. Close major centers with Walmart and Lowe’s. 95% leased to national & local tenants. NOI $483K/yr. $5.375M. 9% cap.
  7. Auto Center in Las Vegas, NV: 7600 SF auto center built in 1998 on .69 ac lot along main artery. 100% NNN lease to Purrfect Auto and Boomerang Auto. NOI $133K/yr. $1.75M. 7.62% cap.
  8. Popeye’s in Decatur, GA: 1750 SF fast food restaurant on .87 ac lot in growing Atlanta suburbs. On an off/on ramp of I-20. Near The Gallery at South Dekalb. 100% NNN lease with 11-yrs left to an operator with 25 units. NOI $66K/yr with 10% bumps every 5-yrs. $1.056M. 6.25% cap.
  9. Retail Building in Green Bay, WI: 2500 SF attractive two tenant retail building on .68 ac lot in a fast growing area. 100% NNN lease to Starbucks and Papa Murphy’s. NOI $66K/yr. $954K. 7% cap.

(c) Transmercial 2014

Wednesday, October 8, 2014

09-24: Car-X, Your Fit Health Club, Fitness Evolution, Shopping Centers

  1. Retail Building in Houston, TX: 10,277 SF well maintained retail center on .79 ac lot in a growing and high income area. Tenants include: Rosewood Family Physicians and Royal Thai Day Spa & Salon. 100% NNN leased. NOI $198K/yr. $2.65M. 7.47% cap.
  2. Shopping Center in Lancaster, CA: 30,000 SF attractive shopping center on nearly 3 ac lot at a signalized intersection in Los Angeles County. 87% leased. Actual NOI $474K/yr. $7.59M. 6.25% cap. Upside potential when fully leased.
  3. Retail Center in Milford, OH: 13,460 SF retail center on 2 ac lot in upper middle-class Cincinnati suburbs. Adjacent to Kroger supermarket and across from Meijer Superstore and Home Depot. 100% leased. NOI $272K/yr. $3.636M. 7.50% cap.
  4. Neighborhood Center in Fairfield, OH: 110,921 SF attractive shopping center constructed in 1993 on nearly 22 acres of land in Cincinnati suburbs. Anchored by Sears Hardware, Goodwill and Big Lots. 93% NNN leased. NOI $609K/yr. $6.975M. 8.74% cap.
  5. Retail Center in Papillion, NE: 11,475 SF attractive retail center built in 1998 on 1.23 ac lot on a main retail corridor and in a high income (AHI $89K/yr) Omaha suburbs. Close to Super Target &Home Depot. 100% NNN leased to six tenants. NOI $152K/yr. $2.106M. 7.25% cap.
  6. Shopping Center in Pompano Beach, FL: 29,415 SF well kept shopping center on 2.47 ac lot at a signalized intersection in Fort Lauderdale suburbs. NOI $294K/yr. $4.2M. 7% cap.
  7. Car-X in Pflugerville, TX: 5561 SF auto center built in 2009 on 1.22 ac lot in affluent Austin suburbs. Near Walmart and Stone Hill Town Center, a 1,000,000 SF Power Center. 20-yrs NNN corp lease with 15-yrs left. NOI $150K/yr with 9% rent increases every 5-yrs. $2.404M. 6.25% cap.
  8. Strip Center in Fort Lauderdale, FL: 8910 SF eleven units strip center on .77 ac lot along main corridor. 100% leased. NOI $170K/yr. $2M. 8.50% cap.
  9. You Fit Health Club in Alpharetta, GA: 7328 SF retail building part of North Point Commons with Best Buy, Staples and JoAnn Fabrics in high income Atlanta metro. Close to Northpoint Mall and Hwy-19. 100% NNN lease to a growing regional tenant with 87 units. NOI $189K/yr. $2.6M. 7.27% cap.
  10. Fitness Evolution in Carmichael, CA: 44,000 SF fitness center built in 4.29 ac lo at a hard corner location in upper middle-class Sacramento suburbs. This is a sale/leaseback investment. 20-yrs absolute NNN lease to strong operator with over 24-units. NOI $396K/yr. $5.409M. 7.32% cap.
           

            (c) Transmercial 2014

Tuesday, October 7, 2014

09-23: Jiffy Lube, Family Dollar, CVS, Rite Aid, Dollar General


  1. Jiffy Lube in Norfolk, VA: 2724 SF well maintained franchised Jiffy Lube on .52 ac lot along major artery. Brand new 10-yrs absolute NNN lease to strong franchisee. NOI $80K/yr. $1.067M. 7.50% cap.
  2. Retail Center in Omaha, NE: 11,472 SF attractive retail center built in 2006 on 1.52 ac outparcel to Super Save Grocery Store and Kmart. 100% NNN leased. NOI $144K/yr. $1.866M. 7.75% cap.
  3. Family Dollar in Aurora, CO: 7999 SF Family Dollar constructed in 2012 at a hard corner location. 100% NNN- corp lease with 7-yrs left. NOI $113K/yr. $1.628M. 7% cap.
  4. Strip Center in La Habra, CA: 6359 SF well maintained strip center on .48 ac corner lot on a major artery .  70% leased.  NOI N/A.  $1.1M.  Just $173/SF below construction costs.
  5. Retail Center in Fontana, CA: 7198 SF retail center built in 2008 on .64 ac lot across from Walmart.  100% NNN leased to 5 tenants.  NOI $198K/yr. $2.835M. 7% cap.
  6. CVS Pharmacy in Bonita Springs, FL: 9504 SF drug store with drive thru built in 1995 on .94 ac lot. 20 yrs NNN lease with 1 yr left.  NOI $205K/yr. $2.649M. 7.75% cap.  Note: Store with increasing sales of $5.05M in 2011, $5.345M in 2012 and $5.943M in 2013.  Transmercial believes this is a very profitable location and tenant will renew 5 yrs option with 7% rent bump.
  7. Rite Aid in Vandalia, OH: 11,180 SF drug store built in 1997 on 1.9 ac lot with 2-lane drive thru in Dayton metro.  100% NNN- with 12 yrs left.  NOI $210K/yr. $3M. 7% cap.
  8. Dollar General in Indianapolis, IN: 9600 SF dollar store built in 1988 on .83 ac lot in middle class area.  100% NNN- with 4 yrs left.  Store with strong sales of over $2M/yr.  NOI $65K/yr.  Only $810K. 8% cap.
  9. Shopping Center in Coppell, TX: 31,924 SF shopping center built in 1999-2000 in high growth, high income Dallas metro (AHI $96K/yr in 1 mile).  76% leased.  NOI $263K/yr. $3.6M. 7.32% cap. Just $112/SF!
  10. Strip Mall in Hayward, CA: 6785 SF strip mall  on a major artery.  85% leased.  NOI $60K/yr. $859K. 7% cap.


            (c) Transmercial 2014

Monday, October 6, 2014

09-22: Jiffy Lube, Mixed-use, Shopping Centers, Office Buildings


Below are the most commonly used acronyms:

  • AHI: Avg. Household Income.  National average is about $55+K/yr.
  • NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.
  • NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.
  • NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.



  1. Shopping Center in League City, TX: 28,150 SF attractive shopping center constructed in 2002 on over 3 ac lot in growing and affluent Houston suburbs with an AHI of $109K/yr in 1-mile ring. 100% NNN leased. 7.74% cap. NOI/Price N/A.
  2. Retail Center in Roseville, CA: 14,400 SF in-line well maintained retail center on 1.32 ac lot shadow anchored by Ross Dress For Less and Hobby Lobby in Sacramento suburbs. Adjacent to Walmart, Target and Raley’s Supermarket. Near Kaiser Permanente-Roseville. 90% leased. $3.5M.
  3. Jiffy Lube in Phoenix, AZ: 3000 SF auto center on .69 ac lot along major retail corridor and in a high income neighborhood.  Across from Basha’s Grocery anchored center. Close to I-10. 100% absolute NNN lease with over 10-yrs left to a strong operator with 55-units.  NOI $105K/yr with 10% rent increases every 5-yrs. $1.51M. 7% cap.
  4. Office Building in Alpharetta, GA: 34,064 SF Class-B multi-tenant office building positioned within The Meadows Business Park in affluent (AHI $127K/yr in 1 mile) Atlanta suburbs. 76% leased. NOI $225K/yr. $2.8M. 8.05% cap.
  5. Mixed-use in Rochester, NY: 36,472 SF consisting of two well maintained retail/office buildings on nearly 4 ac lot. Major tenants include: Pier 1 Imports, Skechers, and Ruby Tuesday. Adjacent to 140-store Mall at Greece Ridge, with Macy’s, Sears, Dick’s Sporting Goods, Marshalls and Bed Bath and Beyond. 100% NNN leased. NOI $384K/yr. $6.4M. 6% cap.
  6. Shopping Center in Tulsa, OK: 46,502 SF attractive shopping center on 4.45 ac corner lot  in a fast growing area. NOI $290K/yr. $2.75M. 10.56% cap.
  7. Strip Center in Franklin Park, NJ: 7000 SF strip center at a busy corridor in affluent New York suburbs with an AHI of $115K/yr in 1 mile. 100% NNN leased. NOI $134K/yr. $1.89M. 7.14% cap.
  8. Retail Center in West Chester, OH: 22,000 SF attractive retail center built in 2004 outparcel to West Chester Hospital in Cincinnati suburbs. Close to I-75. 100% NNN leased to eleven tenants. NOI $450K/yr. $5.5M. 8.19% cap.
  9. Retail Center in Arlington, TX: 6186 SF retail center on .74 ac lot in a fast growing and high income (AHI $109K/yr) Fort Worth/Dallas suburbs. 100% leased. NOI $89K/yr. $1.175M. 7.60% cap.
  10. Retail Center in Edison, NJ: 7200 SF retail center on .47 ac lot along Hwy-27. Near JFK Medical Center in high income New York suburbs. 85% NNN lease with good tenant mix. NOI $117K/yr. $1.75M. 6.69% cap.


            (c) Transmercial 2014

Friday, October 3, 2014

09-19: Retail center, Napa, Coast Dental, MOB, Concentra

  1. Strip Center in Wildomar, CA: 9,588 SF attractive strip center on 1.51 ac lot in growing (94% pop growth since 2000) and high income (AHI $104K/yr in 1 mile) Riverside County. Shadow anchored by Rie Aid.  Close to Inland Valley Medical Center and I-15. 100% NNN leased to two tenants. NOI $150K/yr. Price reduced from $2.225M to $2.146M. 7% cap.
  2. Napa Auto Parts in Vallejo, CA: 7465 SF Napa Auto Parts in San Francisco metro on .6 ac lot. 100% NNN- leased till 2024.  NOI $117K/yr with rare 10% rent bumps every 5 yrs. NOI $117K/yr.  $1.957M. 6% cap.
  3. CVS in Ridgeland, MS: 10,908 SF built-to-suit pharmacy on 1.63 ac lot at a signalized intersection in a middle-class area. Close to Northpark Mall and I-55. 100% absolute NNN lease with over 6-yrs left. NOI $357K/yr. $5.111M. 7% cap.
  4. Coast Dental Portfolio in NV: 18,056 SF consisting of four single-tenant medical office buildings. Newly executed 10-yrs NNN lease to Coast Dental, one of the most stable and largest dental group practices with nearly 180 locations. NOI $405K/yr. $5.617M. 7.22% cap.
  5. MOB in Arlington, TX: 10,769 SF Class-A newly constructed multi-tenant office building on .76 ac lot in a growing and upper middle class Fort Worth/Dallas suburbs. 82% NNN leased with on 1 vacancy. Actual NOI $229K/yr. $2.9M. 7.91% cap. Upside potential.
  6. Concentra Portfolio in various cities in AZ: 9912 SF Class-B consisting of three medical office buildings in Mesa, Gilbert and Chandler (Phoenix metro) 100% NNN leased with over 3-yrs left to Concentra Primary Care (a division of Humna). NOI $232K/yr. $3M. 7.75% cap.
  7. Shopping Center in Huntington Station, NY: 22,500 SF well maintained shopping center along main retail corridor in affluent neighborhood (AHI 113K/yr) East of New York. Near Wait Whitman Mall. 100% leased. $7.6M. NOI/Cap N/A.
  8. Shopping Center in Canton, MI: 49,891 SF L-shaped shopping center constructed in 2003 at a corner location in high income Ann Arbor/Detroit suburbs with an AHI of $99K/yr in 3 mile ring. 97% leased to twelve tenants. $5.9M. NOI/Cap N/A.
  9. Shopping Center in Rancho Cordova, CA: 26,571 shopping center on nearly 2 ac lot in growing Sacramento suburbs. With easy access to Hwy-50. 100% leased to six tenants. NOI $227K/yr. $2.65M. 8.60% cap.
  10. Office Building in Benicia, CA: 8662 SF Class-B office building in high income (AHI $101K/yr) San Francisco suburbs. Near I-780. 90% leased to multiple tenants. NOI $106K/yr. $1.768M. 6% cap.


            (c) Transmercial 2014

Thursday, October 2, 2014

09-18: DaVita, Planet Fitness, Apartments, Retail Plaza, Office Buildings


  1. Retail Center in Boynton Beach, FL: 12,000 SF attractive retail center built in 2004 on nearly 1 ac lot along major corridor in Fort Lauderdale suburbs. Near I-95. 100% leased. NOI $172K/yr. $2.65M. 6.50% cap.
  2. DaVita in Kenner, LA: 6000 SF Class-A dialysis center in New Orleans suburbs. Close to Ochsner Medical Center. Recently extended NNN lease till 2024. NOI $114K/yr. $1.688M. 6.75% cap.
  3. Retail Center in San Leandro, CA: 12,349 SF well maintained retail center anchored by 8000 SF Marina Market in upper middle-class area East of San Francisco. 100% NNN lease to five tenants. NOI $123K/yr. $2.25M. 5.46% cap.
  4. Office Building in Miami, FL: 26,000 SF Class-B office building constructed in 2005 on 1.40 ac corner location. 100% leased to multiple tenants. NOI $188K/yr. $2.8M. 6.70% cap.
  5. Retail Plaza in New Haven, CT: 50,316 SF shopping center consisting of three buildings complete in 2009 on over 7 ac lot . Major tenants include: TD Bank (on ground lease) Goodwill, Auto Zone and MobilePlay. 95% NNN leased. NOI $582K/yr. $8.03M. 7.25% cap.
  6. Retail Center in McKinney, TX: 13,918 SF retail center built in 2007 on 1.85 ac lot in a fast growing and high income (AHI $90K/yr) Dallas metro. Tenants include: Scooter's Coffee & Yogurt, Virginia Nail Salon, Happy Donuts, Performant Fitness Center, Marco's Pizza, North Texas Pharmacy, and Outdoor Living Pool & Patio.  92% NNN leased. NOI $243K/yr. $3.475M. 7% cap.
  7. Planet Fitness in Albuquerque, NM: 16,464 SF attractive fitness center at a signalized intersection in growing and high income (AHI $80K/yr) area. Close to Cottonwood Mall. 10-yrs absolute NNN lease with 9-yrs left. NOI $181K/yr with 13% rent increase in year 6. $2.8M. 6.5% cap.
  8. Strip Center in South Gate, CA: 9463 SF well maintained strip center on .71 ac corner lot at two signalized intersections in densely populated Los Angeles area with over 1M residents in 5 miles ring. Near I-710. 100% leased. NOI $73K/yr. $1.425M. 5% cap.
  9. Apartments in Fresno, CA: 16-units consisting of two well maintained buildings. Amenities include: Pool, on-site laundry facility and security cameras. 100% occupied. Pro forma NOI $95K/yr. $1.295M. 7.40% cap.
  10. Retail Center in Lindon, UT: 10,684 SF Class-A retail center on 1 ac lot in growing upper middle-class Salt Lake City metro. Across from Walmart Supercenter. Current Tenants: The Clique, Saratoga Jewelry, Bobby Lawrence Karate, Lindon Professional Dental, and Karve Studio. NOI $148K/yr. $1.914M. 7.75% cap.


            (c) Transmercial 2014

Wednesday, October 1, 2014

09-17: Liberty Dialysis, Burger King, Rite Aid, DaVita, MOB, Shopping Centers

  1. Liberty Dialysis in Castle Rock, CO: 8,450 SF Class-A dialysis center built in 2005 on .53 ac lot in fast growing and affluent Denver suburbs with an AHI of $101K/yr. Adjacent to Walmart Supercenter, brand new Natural Grocers and Target. 100% NNN- lease with 5-yrs left to Liberty Dialysis (owned by Fresenius Medical Care). NOI $284K/yr with 3% annual rent increases. Price reduced from $3.64M to $3.157M. 9% cap.
  2. Burger King in Oceanside, CA: 3348 SF drive-thru fast food restaurant remodeled in 2000/2001 on .53 ac lot in a coastal city in Southern California. On an off/on ramp of I-5. 100% absolute NNN corp ground lease (only the land is for sale) with 4-yrs left. NOI $39K/yr. $885K. 4.5% cap.
  3. Rite Aid in Vandalia, OH: 11,180 SF well maintained double drive-thru Rite Aid Pharmacy completed in 1997 on nearly 2 ac lot at a hard corner location in Dayton suburbs. Near I-75. 100% NNN- corp lease with 13-yrs left. NOI $210K/yr. $3M. 7% cap.
  4. Shopping Center in South Jordan, UT: 34,016 SF attractive shopping center constructed in 2004 on 3.86 ac lot in growing and affluent (AHI $108K/yr) Salt Lake City suburbs. Shadow anchored by Walmart Neighborhood Market. 91% leased. NOI $381K/yr. 5.087M. 7.50% cap.
  5. DaVita Portfolio in Savannah, GA: 23,838 SF Class-A consisting of four free standing dialysis centers. 100% NNN lease with 8-yrs left. NOI $364K/yr. $4.5M. 8.10% cap.
  6. MOB in Bourbonnais, IL: 53,653 SF Class-B medical office building on 6 ac lot in a growing and upper middle class area. 98% NNN leased to Provena Health and Camelot Schools, a therapeutic day school serving multi-need students who are typically on the autism spectrum, orthopedically impaired or developmentally delayed. NOI $819K/yr. $9.1M. 9% cap.
  7. Retail Buildings in Cypress, TX: 19,165 SF consisting of two quality constructed retail buildings on over 2 ac lot along Hwy-290. In fast growing (76% pop growth since 2000) and affluent (AHI $116K/yr in 3 miles) Houston suburbs.  100% leased to eight tenants. NOI $559K/yr. $7.72M. 7.25% cap.
  8. MOB in Germantown, TN: 10,800 eye-catching single-tenant medical office building constructed in 2005 on .87 ac lot in high income (AHI $93K/yr) Memphis suburbs. New 12-yrs NNN lease to an established tenant. NOI $232K/yr with 2% annual rent increases. $3.32M. 7% cap.
  9. MOB in Colorado Springs, CO: 4838 SF Class-A newly constructed multi-tenant medical office building in booming (2,387% pop growth since 2000) and high income area. Close to St. Francis Medical Center. 100% leased. NOI $72K/yr. $1M. 7.20% cap.
  10. Retail Center in Abingdon, MD: 6850 SF well kept retail center on .62 ac lot in high income Baltimore MSA with an AHI of $95K/yr in 3 miles. With easy access to I-95. 100% NNN leased. NOI $100K/yr. $1.25M. 8% cap. 


            (c) Transmercial 2014