11-04: Lee's Famous Recipe Chicken, AAA, Walgreens, Shopping Centers

1. Shopping Center in Plantation, FL: 35,937 SF well maintained shopping center on over 3 ac lot along major corridor in Fort Lauderdale.  Near Plantation General Hospital. NOI $246K/yr. $3.25M. 7.57% cap.
2. Neighborhood Center in Grandville, MI: 60,876 SF shopping center built in 2000 on 6.48 ac lot in Grand Rapids (2nd biggest city in MI) suburbs.  Anchored by Family Fare Supermarket. Across from 1,250,000 SF Rivertown Crossings Mall. 93% NNN leased. NOI $641K/yr. $7.825M. 8.20% cap.
3. Lee’s Famous Recipe Chicken in Dayton, OH: 4950 SF well maintained single-tenant restaurant on .54 ac lot. Next to I-35.  20-yrs absolute NNN lease to an experience operator with 13-units. NOI $120K/yr with 5% rent bumps every 5-yrs. $1.714M. 7% cap.
4. AAA Auto Club in Fresno, CA: 15,571 SF Class-B office building on 1.69 ac lot along major artery. 100% NNN lease with 3-yrs left to AAA, a brand name tenant. NOI $191K/yr. $2.399M. 8% cap.
5. Mixed-Use in Haverstraw, NY: 9000 SF attractive retail/office building on .72 ac lot in growing and high income New York suburbs with an AHI of $97K/yr in 3 miles. 100% leased. NOI $80K/yr. $1.15M. 7% cap.
6. Shopping Center in Phoenix, AZ: 100,260 SF shopping center on 7.54 ac lot at a signalized intersection anchored by Goodwill.  98% leased.  NOI $854K/yr. $10.49M. 8.15% cap.
7. Walgreens in Jacksonville, FL: 13,980 SF established Walgreens Pharmacy on 1.65 ac lot. Near I-95.  Recently extended absolute NNN corp lease with 5-yrs left. $2.455M.
8. AAA Auto Club in Clovis, CA: 12,305 SF Class-B single-tenant office building on 1.45 ac lot in growing Fresno suburbs. Close to Sierra Vista Mall. 100% NNN lease to a credit tenant with 3-yrs left. NOI $164K/yr. $1.35M. 12.20% cap.
9. Shopping Center in Gurnee, IL: 103,938 SF well maintained shopping center on 6.80 ac lot anchored by Salvation Army in growing middle-class Chicago suburbs. 97% leased. Actual NOI $495K/yr. $5.9M. 8.40% cap. Upside potential when fully leased.
10. Shopping Center in Glendale, AZ: 88,227 SF shopping center on 8.65 ac lot at a hard corner location Tenants Include: Fry's Marketplace (Anchor and is a division of the Kroger Company), Jackson Hewitt, Papa Murphy's, UPS Store, JP Morgan Chase, Leslie's Pools.  Major tenants Include: Fry's Marketplace (Anchor), Jackson Hewitt, Papa Murphy's, UPS Store, JP Morgan Chase, Leslie's Pools.  93% leased. $10.25M. NOI N/A.

            (c) Transmercial 2014