05-20: Walgreens, Dillons, Medical buildings, Arbys, shopping Centers

1.       Walgreens in Hometown, IL: 14,855 SF drug store built in 2002 on 1.12 acres lot at an intersection of two 6-lane roads in Chicago metro.  100% NNN- lease till 2022.  Store with strong sales revenue of $9M. NOI $482K/yr.  $6.342M. 7.6% cap.

2.       Strip Mall in Port Saint Lucie, FL: 8140 SF strip center built in 2007 in a high growth area.  100% NNN leased to 6 tenants.  NOI $157K/yr. $1.57M. 10% cap.

3.       Dillons Grocery in Wichita, KS: 48,933 SF Dillons Grocery store (owns by Kroger) on 3.79 acres lot near I-135 and Hwy 400.  Renovated in 2010.   100% NNN lease with 8 yrs remaining.  NOI $268K/yr. $3.35M. 8% cap.

4.       Strip Center in Scottsdale, AZ: 11,099 SF strip center built in 2004 on a outparcel to a Wal-mart in affluent Phoenix suburbs (AHI $132K/yr in 2 miles).  100% NNN lease.  Tenants include Starbucks, Gamestop, Capriottis, T-Mobile, and Amadom Jewelers. NOI $266K/yr. $3.65M. 7.3% cap.

5.       Medical Office Building in Yuba, CA: 13,488 SF class-A MOB built in 2005 on .96 ac lot across from Fremont Medical Center in Northern CA.  100% leased to Sutter North medical group.  NOI $231K/yr. $2.85M. 8.13% cap.

6.       Shopping Center in Baldwin Park, CA: 24,605 SF shopping center on 1.12 acres lot in front of Home Depot and next to I-10 exit.  100% NNN leased to GameStop, Verizon, Jackson Hewitt, AT&T, Adriana' s Insurance, and Tortas Sinaloa Restaurant.  NOI $821K/yr. $9.95M. 8.25% cap.

7.       Office Building in Spokane, WA: 10,906 SF office building in a stable city with no state income taxes.  Long term NNN leased to 2 tenants: well-capitalized AmericanWest Bank (18 yrs) and Accure Dental (9 yrs).  NOI $190K/yr. $2.385M. 8% cap.

8.       Arby’s in Chandler, AZ: 3300 SF restaurant on .83 ac lot in front of East Valley Mall in Phoenix metro.  100% NNN lease with 11 yrs remaining to an operator with 56 locations.  NOI $100K/yr. $1.35M. 7.41% cap.

9.       Medical Office Building in Kennesaw, GA: 26,060 SF class-A 5-yrs old medical office building on 2.5 acres lot in middle-class Atlanta suburbs.  Strategic location with easy access to I-75 and I-575.  100% NNN leased to 3 medical tenants.  NOI $520K/yr. $6.72M. 7.75% cap.

© Transmercial 2011.