10-23: Grocery Outlet, Barnes & Noble, MOB, Trader Joes, Five Guys, Castro Oil, Walgreens

1. Grocery Outlet in Escondido, CA: 19,033 SF retail center on 1.49 ac lot on a commercial corridor in San Diego metro.  Anchored by a 16,033 SF Grocery Outlet, a grocery chain with 200+ locations and $1B in revenue with 10 yrs NNN- till 2023.  NOI $267K/yr with 15% rent bump from the anchored tenant  in 2018.  $5M. 5.34% cap.
2. Barnes & Noble in Fort Lauderdale, FL:  27,000 SF trophy bookstore built in 2001 with Hwy 1 frontage in an affluent area.  100% NNN lease with 10+ yrs left.  NOI $462K/yr.  $5.785M. 8% cap.
3. Gilbert Medical Plaza in Gilbert, AZ: 35,142 SF class-A Medical office plaza with 2 buildings in Phoenix metro.  100% leased to 14 mostly medical/dental tenants.  NOI $339K/yr. $4.684M. 7.25% cap.
4. Trader Joe's Center in Tucson, AZ: 20,251 SF shopping center built in 20054 on 2.4 ac lot at the base of Catalina Foothills - the most affluent community in Tucson.  Anchored by 12,000 SF Trader Joe's.  100% NNN leased to 4 tenants.  NOI $440K/yr. $7M. 6.3% cap.
5. Five Guy center in Visalia, CA: brand new 4985 SF retail center on an outparcel to a neighborhood center anchored by Target, Famous Footwear, and Sport Chalet in Central Valley.  100% NNN leased to Five Guys & Pacific Dental, each with 10 yrs lease. NOI $156K/yr. $2.835M. 5.5% cap.
6. Walgreens in Huntington Station, NY: rare 13,905 SF Walgreens on 1.98 ac lot in wealthy New York suburbs. 100% NNN lease with 3 yrs left.  NOI $400K/yr. $6.667M. 6% cap.
7. Baymont Inn & Suites in Jackson, MS: 121-room 5-story hotel built in 2000 on 2.36 ac lot with I-55 frontage. Expected 2014 revenue of $1.2M.  NOI $420K/yr. $3.95M. 10.63% cap.
8. Castro Oil Change in Bakersfield, CA: 2936 SF Castro Oil Change built in 2009 on .75 ac lot.  15 yrs absolute NNN lease with 10 yrs left to an operator with 40 stores.  NOI $98K/yr with 2% annual rent bumps. $1.592M. 6.15% cap.
9. Office Building in Flower Mound, TX: 29,919 SF beautiful office building on 1.47 ac lot in affluent Dallas metro.  100% leased to 6 tenants.  NOI $484K/yr. $5.8M. 8.36% cap.
10. Kaufman Tire In Acworth, GA:  new 6690 SF auto service center built in 2007 on 1.23 ac lot in high income Atlanta suburb. 20 yrs NNN lease with 13 yrs left to an operator with 55 stores.  NOI $194K/yr with 8% rent bumps every 5 yrs. $2.772M. 7% cap.

           

            (c) Transmercial 2014