08-05: Bojangles, Corporate Inn, Arbys, Retail center, Walmart

1. Bojangles restaurant in Fort Mills, SC: 2900 SF Bojangles Chicken & Biscuits franchised restaurant built in 1994 on 1.18 acres outparcel to a shopping center in fast growing middle class Charlotte suburbs. Long term absolute NNN lease.  NOI $85K/yr. $1.133M. 7.5% cap. 
2. Corporate Inn in Sunnyvale, CA: 73-Queen Suites Corp Inn Sunnyvale built in 1999 on 1.4 acres lot in the middle of Silicon Valley with AHI of $114K/yr.  Outdoor swimming pool and Jacuzzi, fitness center, business center.  Avg occupancy of 85%.  NOI and Price not avail.
3.  Arbys in Springfield, IL: 2742 SF fast food restaurant built in 2000 on .84 ac lot right next to I-55 exit.  New 20 yrs NNN lease to a franchisee with 36 units.  NOI $102K/yr with 10% rent bump every 5 yrs. $1.316M. 7.75% cap.
4. Professional Building in The Woodlands, TX:11,800 SF office building on 2/3 acre lot in affluent Northern Houston suburbs (AHI $125K/yr).  100% leased.  NOI $155K/yr. $1.925M. 8% cap. 
5. Lender-owned Retail center in Austin, TX: 7500 SF strip center built in 2005 on .87 ac outparcel to Super Target and Michael’s in fast growing middle class area.  Adjacent to Home Depot, Kohl's, Bed Bath & Beyond and Sports Authority.  100% leased to national tenants.  NOI $164K/yr. $1.95M. 8.45% cap. 
6. Walmart in Fremont, CA: rare 127,345 SF Walmart built in 1988 on 8.7 acres lot with easy access to I-880 in high income Silicon Valley suburbs.  20 yrs NNN lease with 14+ yrs remaining.  NOI $1.25M with 10% rent bump in 2015.  $20M. 6.18% cap.  Buyer to assume $13.7M loan at 5.49% interest.

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