08-17: Shopping centers, Office buildings

1. Shopping Center in Long Beach, CA: 34,647 SF well-maintained 11-tenant shopping center  in densely populated area. 100% NNN leased. NOI $497K/yr. $6.850M. 7.26% Cap. Buyer to assume $3.6M at 5.19% interest. 
2. Retail Center in Las Vegas, NV: 17,347 SF upscale retail center on 1.73 ac lot at a busy corner location with excellent egress/ingress in upper-middle class master planned community.  100% leased to 8-tenants. NOI $572K/yr. $7.152M. 8% Cap. 
3. Office Park in Oceanside, CA: 93,525 SF well-kept office building on 6 ac lot close to I-5 in high income coastal city. 79% leased including secure governmental tenants. NOI $1.042M/yr. $11.85M. 8.80% Cap. 
4. Strip Center in Spartanburg, SC: 7200 SF brand-new strip center across The Home Depot/Wal-Mart in close proximity to Westgate Mall and I-26. 100% leased to 3 tenants including Aspen Dental and Chipotle. NOI $219K/yr. $2.580M. 8.51% Cap. 
5. Office Building in Campbell, CA: 2,022 SF free-standing office building at a corner highly visible location along busy thoroughfare. $749K. Perfect for owner-user. 
6. Strip Center in Auburn Hills, MI: 10,025 SF newly constructed strip center  near the entrance of Oakland University. 100% NNN lease with at least 10 yrs terms. NOI $277K/yr. $3.463M. 8% Cap. 
7. Community Center in Rancho Cucamonga, CA: 22,871 SF shopping center on over 2 ac lot next to Fwy-210 in affluent city (AHI $108K/yr in 1 mile). Anchored by Trader Joe’s. 100% leased. NOI $604K/yr. $8.5M. 7.11% Cap.  
8. Retail Building in Monterey, CA: 2700 SF retail building built in 1991 on .38 ac lot at a busy retail location. 100% leased to Jiffy Lube and Cypress Studios. NOI $152K/yr. $2.150M. 7.10% Cap.

© Transmercial 2011.

08-16: Hardee's Restaurant, Shopping Centers

Welcome new investors.  Each property has a brief description and a flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties between $700K-$20M on the market today (please advise if you are interested in properties above $20M).  Underlined names if any indicate safe hyperlinks that you can click for more info.

AHI: Avg. Household Income.  National average is about $50+K/yr.

NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.

NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.

NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1.  Hardee’s in Knoxville, TN: 3550 SF fast food restaurant on 1.37 ac lot close to The Shops at Turkey Creek, a large upscale shopping mall off of I-75. New long-term absolute NNN corporate lease.  NOI $123K/yr with 10% rent bumps every 5-yrs. $1.646M. 7.5% Cap.  
2. Shopping Center in Washington Township, OH: 49,840 SF attractive shopping center on over 6 ac lot shadow-anchored by Sam’s Club in growing (18.24%) and well-off (AHI $84K/yr) Dayton metro. 100% NNN leased to six national credit tenants. NOI $1,033M/yr. $12.450M. 8.30% Cap.  
3. Hardee’s in Knoxville, TN: 3612 SF free-standing restaurant on 1.50 ac lot at a 4-way intersection along main corridor. New 20-yrs absolute NNN corporate lease. NOI $102K/yr with 10% rent increases every 5-yrs. $1.324M. 7.75%Cap. 
4. Retail Center in Coral Springs, FL: 7815 SF upscale retail center on .82 ac parcel at a main retail corridor. Fast growing and high income area (AHI $81K/yr in 1 mile radius) in Fort Lauderdale metro. 100% leased to three credit/local tenants including Verizon Wireless and FedEx Kinko’s. NOI N/A. $2.8M.  
5. Strip Center in Woodhaven, MI: 9200 SF strip center built in 2006 on an outparcel to Wal-Mart supercenter in high income area. Across from Super Target.  100% NNN leased to national tenants including Five Guys, Great Clips, GameStop and Olga's Kitchen. NOI $192K/yr. $2.06M. 9.34% Cap.  
6. Retail Center in Apple Valley, CA (Parcel #2): 6417 SF retail center outparcel to The Home Depot at a busy signalized intersection. 86% NNN leased to 5 tenants including Taco Bell, Hertz, and US Army with 1 small avail unit. NOI $225K/yr. $1.7M. 13.24% Cap.  
7. Strip Center in Apple Valley, CA (Parcel #1): 16,435 SF 10-unit strip center built in 2007 on 1.84 ac lot outparcel to The Home Depot. 82% NNN leased with 2 small avail units. NOI $386K/yr. $3.7M. 10.45% cap.  
8. Shopping Center in Yakima, WA: 88,580 SF shopping center anchored by well-performing Safeway grocery store near Yakima Valley Community College.  97% NNN leased. NOI $1.070M/yr. $14.010M. 7.64% Cap.  
9. Shopping Center in North Salt Lake, UT: 44,521SF shopping center built in 2006 on 3.15 ac lot at busy thoroughfare near I-15/215. 100% leased to long-term tenants. NOI $443K/yr. $4.485M. 10% Cap. 
10. Retail Center in Carol Stream, IL: 8053 SF attractive retail center.  100% NNN leased 4 tenants: Dentist, Chiropractic Office, Hair Studio and Entrée Kitchen. Affluent Chicago suburbs with AHI of $133K/yr in 1 mile radius. 100% leased. NOI $159K/yr. $2.050M. 7.90% Cap.

© Transmercial 2011

08-15: Walgreen's, Taco Bell, DaVita Dialysis, shopping centers

Welcome new investors.  Each property has a brief description and a flyer (attached).  For a full marketing brochure, please email to maria@transmercial.com.  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties between $700K-$20M on the market today (please advise if you are interested in properties above $20M).  Underlined names if any indicate safe hyperlinks that you can click for more info.

AHI: Avg. Household Income.  National average is about $50+K/yr.

NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.

NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.

NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1.     Shopping Center in Maplewood, MN: 16,582 SF shopping center constructed in 2000 on 1.97 ac lot next to Hwy-36 in Minneapolis metro. 91% leased to strong national/local tenants: Chipotle, Sprint, FedEx Kinko’s and Firehouse Subs. NOI $260K/yr. $3.350M. 7.78% Cap.

2.     Office Plaza in Northbrook, IL: 34,700 SF well-maintained multi-tenant office building close to upscale Northbrook Court Mall, Hwy-41 and I-94 in North Chicago. 89.72% leased to 13-tenants. NOI $285K/yr. $3.435M. 8.32% Cap.

3.     Medical Building in Yuba City, CA: 13,340 SF recently renovated single-tenant medical building across from Fremont Medical Center Hospital and near Sutter’s Hospital Campus.  100% NNN leased to a subsidiary of Sutter Health. NOI $231K/yr. $2.850M. 8.13% Cap.  

4.     Walgreen’s in Spokane, WA: 14,550 SF drug-store built in 2000 at a corner location. Well-performing store due to limited competition. NNN- corporate lease till 2020. NOI $372K/yr. $4.895M. 7.60% Cap.

5.     Neighborhood Center in Fayetteville, NC: 66,890 SF multi-tenant center anchored by Food Lion, CVS and Family Dollar next to Lowe’s/Wal-Mart. NOI $579K/yr. $6.625M. 8.75% Cap.

6.     Retail Center in Kissimmee, FL: 7176 SF retail center across from Valencia Community College-Osceola just 22.2 miles South of Orlando.  90% leased. NOI $96K/yr. $1.2M. 8% Cap.

7.     Taco Bell in Folsom, CA: 2600 SF drive-thru fast food restaurant built in 2007 on .79 ac lot on a pad-site to Sam’s Club next to Hwy-50. Absolute NNN lease till 2027. NOI $113K/yr. $1.850M. 6.20% Cap.

8.     DaVita Medical Building in Cape Coral, FL: 7411 SF Class-A medical building built in 2005 in high income Fort Myers MSA. 100% NNN leased. NOI $128K/yr with generous 3.5% annual rent increases. $1.765M. 7.5% Cap.

9.     Shopping Center in Chula Vista, CA: 19,752 SF shopping center on 1.58 ac lot across from Chula Vista Center and close to Scripps Mercy Hosp Chula Vista/I-5. 100% leased. NOI $452K/yr. $5.5M. 8.23% Cap.

10.  Retail Pad in Fresno, CA: 10,000 SF three-tenant retail pad between Manchester Mall and Fwy-41. Fully leased to Starbucks, Panda Express and Mexican Restaurant.  13+ years remaining or ground lease (land is for sale). NOI $66K/yr. with up to 10% rent bump every 5 yrs. $1.1M. 6% Cap.   

© Transmercial 2011

08-12: Shopping centers, Fresenius Dialysis

1. Shopping Center in Charlotte, NC: 45,909 SF established shopping center on 5.47 acres corner lot in stable area.  Anchored by Food Lion Supermarket.  100% leased.  NOI $323K/yr. $3.5M. 9.25% cap. 
2. Fresenius Dialysis Center in Cheyenne, WY: 7620 SF new dialysis center on 1.18 acres lot. New 15 yrs NNN lease with corp guaranty.  NOI $168K/yr with 3% annual rent bump. $2.328M. 7.25% cap. 
3. Shopping Center in Geneva, IL: 86,782 SF neighborhood center built in 1996 on 7.4 acres lot in affluent (AHI $117K/yr) and fast growing (52% since 2000) West Chicago.  Anchored by Dominique’s grocery (owned by Safeway).  Part of a shopping center co-anchored by Best Buy, Gander Mountain, Dollar Tree and McDonald’s. 100% NNN leased to 3 tenants.  NOI $1.092M.  $14.75M. 7.41% cap.  Buyer to assume $10.885M non-recourse loan at 5.77% fixed till 2017.

© Transmercial 2011