12-09: Strip Mall, Anchored Center, Starbucks

1. Strip mall in Phoenix, AZ: 4314 SF 3-unit strip center built in 2008 on a major artery with easy access to Freeway. 62% NNN leased to Dunkin Donuts & Progressive Insurance.  Seller to provide 2 yrs rent guaranty for the vacant unit.  NOI $95K/yr. $1.25M. 7.64% cap.
2. Shopping Center in Grandville, MI: 60,876 SF shopping center built in 2000 on 6.48 ac lot in Grand Rapids metro. Across from Rivertown Crossing Mall.  Anchored by Planet Fitness and shadow anchored by Family Fare Supermarkets.  93% leased.  NOI $641K/yr. $7.825M. 8.2% cap.  Upside potential when full leased.
3. Retail center in Waukegan, IL: 27,687 SF retail center built in 1991 about 40 miles North of downtown Chicago.  96% leased by 11 tenants with 1 vacant unit.  NOI $274K/yr. $3.2M. 8.57% cap.
4. Anchored Shopping center in Saint George, UT: 81,000 SF shopping center built in 2005 on 6.8 ac lot next to I-15 exit in Salt Lake City metro.  Anchored by TJ Maxx & Plant Fitness.  NOI $1.1167M. $15.65M. 7.46% cap.
5. Market Place in lake Worth, FL: 78,997 SF market place on 11.94 acres lot in Fort Lauderdale/Miami metro.  90% leased.  NOI $763K/yr. $9.5M. 8.04% cap.
6. Starbucks Strip Mall in Saint Petersburg, FL: 6377 SF strip center on 2/3 ac lot on a main artery.  100% leased to 4 tenants including Starbucks.  NOI $150K/yr. $2.147M. 7% cap.

            (c) Transmercial 2014