09-23: Shopping Centers, Office Building

Advisory: the stock market has been turbulent this week.  As a result, the 10 yrs Treasury is down to 1.717% today.  One of Transmercial’s clients gets a loan quote of 4.29% for 10 yrs fixed rate, 20 yrs amortization 70% LTV loan for a single-tenant property. The lower interest means your investment return is higher while the risk is lower.

1. Strip Center in Mokena, IL: 7100 SF strip center on a major artery with easy access to I-80 in high income Chicago suburbs.  100% NNN leased to 6 tenants.   NOI $153K/yr.  $1.7M. 9% cap. 
2. Office Building in Palo Alto, CA: 16,032 SF 2-story office building on 1 ac lot in affluent Silicon Valley city (AHI $151K/yr in 1 mile).  Easy access to Hwy 101.  100% leased.  NOI $284K/yr. $4.125M. 6.75% cap. 
3. Shopping Center in Atlanta, GA: 110,065 SF shopping center anchored by 76,500 SF Kroger Citi Center, Marshalls, and Athlete’s Foot.  100% leased.  NOI and Price not avail. 7% cap. 
4. Retail Center in Falmouth, ME:14,909 SF inline multi-tenant retail center shadow anchored by 55,438 SF Hannaford supermarket, a regional chain with 171 stores.  Affluent coastal town with AHI $112K/yr in 1 mile.  Easy access to I-95.  100% NNN lease.  NOI $234K/yr. $2.995M. 7.81% cap. 
5. Family Dollar in Aurora, CO: 8000 SF brand new Family Dollar store on 1.28 acres corner lot on a major artery in middle class Denver metro.  New NNN- corp lease till 2023.  NOI $114K/yr. $1.47M.  7.75% cap.  Recession insensitive tenant.

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