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.

                       

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