03-15: Shopping Plaza, Burger King, West Marine, Apartments

1. Shopping Plaza in Austin, TX; 26,310 SF shopping plaza built in 2004 with I-35 frontage.  Shadow anchored by Wal-mart Supercenter and Lowe’s.  100% NNN leased to 7 tenants.  NOI $476K/yr.  $5.775M. 8.26% cap.
2. Former Ramada Plaza Hotel in Macon, GA: 298-room 16-story former Ramada Plaza hotel on 2.2 acres lot. Amenities include: 14 Meeting Rooms, Event Space, Two Restaurants, Bar, Lounge, Exercise Room, Business Center and Shop Space, outdoor pool and sundeck with Men's and Women's Saunas. $3.35M.  Just over $11K/unit.
3. Burger King in Ocala, FL: 2749 SF restaurant on .94 ac lot in a growing city in Central FL.  New 20 yrs NNN lease with no landlord responsibility to an operator with 8 units.  NOI $83K/yr with 5% rent bump every 5 yrs.  $1.045M. 8% cap.
4. Single tenant Office Building in Wilmington, MA: 26,415 SF 2-story office building on 2.19 acres lot in affluent Boston suburbs (AHI $104K/yr).  Renovated in 2003-2005. The building is the corporate headquarters for AdvanSource Biomaterials Corporation.  New long term NNN lease.  NOI $300K/yr. $2.75M. 10.7% cap.
5. Office Towner in Dallas, TX: 51,043 SF 4-story class-B office building on 2.1 acres lot with I-30 visibility.  Building has undergone $500K capital improvement in the last few years.  84% leased.  NOI $370K/yr. $3.45M. 10.75% cap.
6. West Marine in Buford, GA: new 14,620 SF single-tenant retail center on 1.24 acres lot in Atlanta metro, just 1 mile from Lake Lanier.  10 yrs NN to West Marine (NASDAG: WMAR).  NOI $215K/yr. Price reduced to $2.581M. 8.35% cap.
7. Office Building in Belleview, WA: 52,376 SF 10-yrs old class-A single-tenant office building on 2.69 acres lot in upscale Belleview in Seattle metro.  100% NNN leased to Lexis-Nexis.  NOI $1.2M/yr.  $16.25M. 7.4% cap.
8. Apartments in Wilmington, DE: 12-unit apartments in quiet neighborhood.  100% occupied.  NOI $63K/yr.  $730K.  8.65% cap.

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