03-14: Starbucks, Sonic, Medical Buildings, Christian Brothers Auto, Walgreens, AutoZone

Transmercial is pleased to announce Maria is back from her 10-week maternity leave.

1.      Starbucks in Sacramento, CA: 2658 SF retail center on 2/3 acre corner lot in front of a shopping center anchored by Save Mart Supermarket and Rite Aid.  Across from Foods Co Supermarket.  100% NNN leased to Starbucks till 2015 (it subleases some space to Mr Pickles Sandwiches which is good for both Starbucks and landlord).  NOI $92K/yr. with 15% rent bump in the next 5 yrs option.  $1.32M.  7% cap.

2.      Sonic Drive-in in Roseville, CA: 1718 SF restaurant built in 2008 on .85 acre lot 1 block from Hwy 65 in high growth (250% since 2000) and high income (AHI $82K/yr) Sacramento suburbs.  New long term NNN ground lease (land is for sale).  NOI $145K/yr. $2.008M. 7.25% cap.

3.      Medical Office Building in Phoenix, AZ: 5013 SF MOB built in 2010 on .357 ac lot in front of Saint Joseph’s Hospital in middle class area.  100% NNN- leased to 2 tenants: Select Physical Therapy (946 locations in US) and The Fetal & Women's Center of Arizona (7 locations).  NOI $101K/yr.  $1.31M. 7.75% cap.

4.      Medical Office building in League City, TX: 24,240 SF class-A lake-front MOB built in 2007 on 2.4 acres lot in fast growing middle class Houston suburbs.  100% NNN leased.  NOI $495K/yr.  $6.2M. 8% cap.

5.      Christian Brothers Automotive in Sharpsburg, GA: 4921 SF new automotive center on ½ acre lot in affluent Atlanta suburbs (AHI $98K/yr).  15 yrs NNN corp lease from a fast growing company.  NOI $172K/yr with 1.5% annual rent bump.  $2.092M. 8.25% cap.

6.      Single tenant retail center in Escondido, CA: 9068 SF Hispanic grocery store built in 2006 San Diego suburbs.  15 yrs NNN lease with 11 yrs remaining.  NOI $178K/yr with 4% annual rent bump. $2.382M. 7.5% cap.

7.      Walgreens in Henderson, NV: 15,100 SF drug store built in 2001 on 1.64 acres corner lot in fast growing upper middle class area in Las Vegas metro.  100% NNN lease with 10 yrs remaining.  NOI $497K/yr. with rare 10% rent bump every 10 yrs. $6.425M.   7.73% cap.  This is a good Walgreens.

8.      Strip Center in Glendale, CA: 2765 SF 3-tenant strip center in densely-populated area in Los Angeles with over 650K residents.  100% leased.  NOI not avail. $799K.

9.      AutoZone in Pomona, CA: 6050 SF auto parts center built in 1997 on .79 acre corner lot in Los Angeles metro with very high barrier to entry.  100% NNN- corp lease with 2 yrs remaining.  NOI $127K/yr. $1.75M. 7.3% cap.  Store with strong sales of over $2.135M/year. 

© Transmercial 2011.