10-21: Burger King, MOB, Walgreens, Fresh & Easy, Jack In the Box, Big Lots

1. Burger King in Cary, NC: 3982 SF Burger King on an outparcel to a Harris Teeter grocery-anchored shopping center in a fast-growing and affluent Durham-Raleigh metro (AHI $140K/yr in 1 mile).  This only Burger King in town has been here since 1997 and  is next to CVS and across from Walmart Neighborhood market. 100% absolute NNN lease with 3 yrs left. NOI $126K/yr. $1.4M. 9% cap.
2. Office Building Plaza in Tucson, AZ: 72,836 SF class-B office building plaza on a major artery consisting of 2 buildings. 93% leased to multiple tenants including: DaVita Dialysis, Steiner Group/Cortiva, and Easter Seals/Blake Foundation.  NOI $584K/yr. $7.3M. 8% cap.
3. Shopping Center in Loveland, OH: 40,313 SF shopping center built in 1998 on 4.29 acres corner lot with easy access to I-275 in affluent Cincinnati metro with AHI of $113K/yr in 1 mile. Anchored by CVS, Burger King and US Bank.  93% NNN leased.  NOI $555K/yr. $7.2M. 7.71% cap.
4. Premier MOB in Valencia, CA: 44,311 SF 3-story class-A Medical Office Building across from 150-store Westfield Valencia Town Center in wealthy Los Angeles area.  NOI $1.192M.  $16.79M. 7.2% cap.
5. Walgreens in Fort Worth, TX: 13,905 SF drug store on 1.5 ac lot at the intersection of 2 major arteries upper middle class Dallas metro.  Store with strong sales of $12+M (top 3%).  100% NNN lease with 15 yrs left.  NOI $289K/yr. $5.175M. 5.6% cap.
6. Shopping Center in Spring, TX: 27,940 SF shopping center in high income Houston suburbs.  I-45 frontage.  100% NNN leased to 11 tenants.  NOI $448K/yr. $5.213M. 8.6% cap.
7. Fresh & Easy & Jack in the Box: 2 new free standing retail buildings consisting of Fresh & Easy grocery and Jack In The Box restaurant on 2.23 ac lot in affluent part of Bakersfield with AHI over $107K/yr in 1 mile.  15 year absolute NNN ground leases (land is for sale, tenants own the improvements). NOI $211K/yr. $4.218M. 5% cap.
8. Shopping Center in Buffalo, NY: 97,720 SF shopping center on 6.74 ac lot in high income area.  100% NNN leased to 3 national tenants: Jo-Ann Fabric & Crafts, Big Lots, and Office Max.  Adjacent to Home Depot, TJ-Max and Toys R Us. 1 block from Eastern Hills Mall. NOI $840K/yr. $10.425M. 8.06% cap.
9. Medical Office building in Phoenix, AZ: 31,600 SF multi-tenant MOB on 2.49 ac lot on a major East West artery in high income area.  78% leased to 15 medical/dental professionals.  NOI $387K/yr. $5.16M. 7.5% cap.
10. Big Lots in Issaquah, WA: rare 32,500 SF single-tenant big box on 2.5 ac lot in high-growth high income Seattle metro. Located within Pickering Place shopping center co-anchored by Costco, Lowe' s, PCC Natural Market, Pier 1 Imports, Big 5 Sporting Goods, UW Medicine and Barnes & Noble. 100% NNN lease with 8 yrs left.  NOI $392K/yr. $6.5M. 6.04% cap.

            (c) Transmercial 2014