Thursday, December 22, 2011

12-08: Walgreens, Jack in the Box, KFC/Taco Bell, Burlington, Retail centers


  1. Walgreens in Hutchinson, KS: 14,395 SF Walgreens on 2.31 acres lot in Wichita suburbs.  100% absolute NNN lease till 2027.  NOI $346K/yr.  $4.808M. 7.2% cap. Buyer to assume 3.462M non-recourse loan at 5.51% interest. 
  2. Walgreens in Waukesha, WI: 15,680 SF Walgreens built in 2000 on 2.12 acres lot in Milwaukee suburbs. 100% NNN- lease with 9 yrs left.  NOI $400K/yr. $5.5M. 7.27% cap. 
  3. Retail center in Frisco, TX: 10,417 SF retail center built in 2007 on 1.47 acres lot in high income (AHI $114K/yr) and booming (647% since 2000!) Dallas suburbs.  100% NNN leased to 7 tenants including Starbucks, UPS Store, Allstate, Verizon Wireless, and Pet Clinic.  NOI $219K/yr. $2.823M. 7.75% cap. 
  4. Jack In the Box in Las Vegas, NV: 2956 SF JIB restaurant built in 2000 on ½ ac lot at major intersection with 49,000 & 50,000 vehicles per day in high income area. 100% NNN corp lease with 7 yrs left.  Store with strong sales.  NOI $185K/yr with rare 10% rent bump every 5 yrs.  $2.652M. 7% cap. 
  5. KFC/Taco Bell in Arlington, TX: 2736 SF new KFC/Taco Bell restaurant on 1.15 ac lot near I-20 exit in growing middle class Dallas metro.  100% NNN lease till 2028 to the 2nd largest KFC franchisee with 200+ units.  NOI $116K/yr. with annual rent bump.  $1.724M. 6.75% cap. 
  6. Strip Center in Antelope, CA: 11,057 SF inline retail center built in 2006 on 1.19 ac lot in growing Sacramento metro.  Shadow anchored by Bel-Air Supermarket and 24-Hr Fitness.  100% leased to 4 tenants.  NOI $182K/yr. $2.435M. 7.5% cap. 
  7. Burlington Coat Factory in Santa Ana, CA:  58,450 SF single-tenant retail building on 5.32 ac lot close to the prestigious South Coast Plaza and I-405. 100% NNN corp lease with 8 yrs left. NOI $1.066M/yr. with a 2.7% increase in 2012. $14.222M. 7.50% cap.

© Transmercial 2011
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