Best picks of 09-02-08

1. King Plaza Center in Houston, TX: 17,150 SF strip center on 1.3 acres lot built in 2000. 100% Occupancy. NOI $212K/yr. $2.6M. 8.17% Cap.
   9-tenant to spread out the risk
   - Good visibility: Large Pylon Sign
   - Close to Sam Houston Tollway E
2. Valley & Rigsby Shops in Las Cruces, NM: 7,000 SF 2-years old strip center on over 1 acre lot with 4 tenants. 100% Occupancy. NNN leases. NOI $210K/yr. $2.745M. 7.65% Cap.
   - Good location: Off of I-10
   - Anchored by Super Mal-Mart
   - National/Local tenants: Starbucks, Cricket Wireless, Play N Trade & Barber
3. Joe’s Crab Shack in Duluth, GA: 9160 SF Joe’s Crab Shack Restaurant on 2.03 acres. 20 yrs absolute NNN lease with 12 yrs left. NOI $157K/yr. Just reduced to $2.1M from $2.34M. 7.54% Cap. Why buy this.
   - Low risk investment: lease guaranteed by strong credit tenant with 120+ locations in the US
   - Great location: signalized intersection close to I-85 and Gwinnett Place Mall anchored by Macy’s
   - Fast growing Atlanta suburb. Land alone is valued at over $1.5M
4. Retail Center in Lone Tree, CO: 3,750 SF attractive retail center recently constructed. Brand new 5-year leases with annual escalations. 100% NNN leased. NOI $105K/yr. $1.448M. 7.25% Cap.
   - Near I-25/470
   - Desirable location: adjacent to the Park Meadows Mall
   - Growing & High Income (AHI $103K/yr within 3-mile radius)
5. Japanese Cuisine Restaurant in Coral Springs FL: 7,265 SF Benihana Restaurant on 1.9 acres of land currently being redeveloped. 100% NNN lased. NOI $259K/yr. $3.586M. 7.25% Cap. Buyer to assume $2.2m at 7.16%.
   - 20 year lease with 12% increases every 5-years
   - Corporate Lease Guaranteed
   - Great location: an a prime commercial corridor just blocks from Coral Square Mall
6. Gateway Park Retail Center in Aurora, CO: 8,000 SF well situated multi-tenant strip mall with stable tenants. 100% NNN leased. NOI $177K/yr. $2.440M. 7.25% Cap. Buyer to assume loan at 6.60%.
   - National tenants: Ted’s Montana Grill, Quiznos & Einstein Brother’s Bagels
   - Stable tenants: Occupying building since 2003
   - Growing middle-class (AHI $62K/yr) Denver suburb
   - close to I-70
7. : 6,000 SF Blockbuster retail building constructed in 1997 anchored by SaveMart grocery store. 100% NNN leased. NOI $ 124K/yr. $1.779M. 7% Cap.
   - Across the street from Walgreen’s Pharmacy
   - Stable middle-class neighborhood
   - Surrounded by many national retailers
   
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