01-31: MOBs, Valero Gas, Retail centers, David's Bridal

1.  Medical Office Building Portfolio in FL: 3 single-tenant medical office buildings in Miami, Lake Worth and For Lauderdale with combined 29,950 SF.  New 10 yrs NNN leases to Chrysalis Heath, leading provider of therapy-based health services for children, adolescents, adults and seniors.  NOI $336K/yr. $4.2M. 8% cap. Also avail for individual sale. 
2. Valero Gas Station in San Jose, CA: 3-tank 1363 SF Valero gas station on .46 ac lot with 2-bay mechanic shop in high income (AHI $121K/yr in 1 mile) area with very high barrier to entry.  70K gallons/month, $4K/month for quick mart, and $25K/month for repair shop. $1.85M. 
3. Retail Center in Van Nuys, CA: 5767 SF retail center built in 2004 on .45 ac corner lot in area with over 700K residents within 5 miles.  87% NNN lease with1 small avail unit (in lease negotiations).  NOI $181K/yr. $2.4M. 7.55% cap. 
4. David’s Bridal in Salina, KS: 8000 SF single-tenant retail center on an outparcel to 486,000 SF mall anchored by Sears, JC Penny and Dullards.  100% NNN lease to David’s Bridal (S&P B/stable) with 3 yrs left. NOI $117K/yr with annual rent bump. $1.342M. 8.75% cap. 
5. Shopping Plaza in San Jose, CA: 11,217 SF retail center built in 2007 on the bust First Street.  In the center of high-tech Silicon Valley with easy access to Hwy 101, I-880, Airport. Area with high barrier to entry.  100% NNN leased to 7 tenants. 
6. Strip Mall in Lodi, CA: 5935 SF strip mall built in 1988 on .36 ac corner lot across from Lakewood Mall in San Joaquin Valley.  100% NNN leased to 5 tenants.  NOI $98K/yr. $1.42M. 6.92% cap.

© Transmercial 2012