05-21: Sun National Bank, Walgreens, Office Buildings, MOB's, Retail Center

1. Sun National Bank in Pennington, NJ: 6758 SF Sun National Bank on .58 ac lot at a hard corner location. In affluent (AHI $147K/yr within 3 mile radius) Philadelphia suburbs. 100% absolute NNN lease with 4+ yrs left to a publicly-traded bank (NYSE:  SNBC) with 70 locations in NJ. Tenant has been at this location since 2002. NOI $89K/yr. $1.050M. 8.50% cap.  
2. Office Building in Killeen, TX: 18,000 SF Class-A all brick multi-tenant office building constructed in 2000 at major thoroughfare.  High income area.  90% leased with long term tenants. NOI $200K/yr. $2.5M. 8% cap.  
3. MOB in Phoenix, AZ: 4500 SF medical office building constructed in 1991 on .75 ac lot across from Desert Sky Mall and near Banner Estrella Medical Center. 100% NNN leased with 7 yrs left to CareMore Medical. NOI $71K/yr. with rent bumps.  $950K. 7.50% cap.  
4. Walgreen’s in Kennesaw, GA: 13,600 SF Walgreens pharmacy on 15 ac corner lot close to I-575. In wealthy Atlanta suburbs (AHI $100+K/yr). 100% NNN lease with 17+ yrs left. NOI $313K/yr. $4.485M. 7% cap. Buyer to assume loan at low 5.68% rate.
5. Shopping Center in Camarillo, CA: 74,600 SF beautiful well-maintained shopping center on 8.54 ac lot with Hwy 101 frontage and close to Camarillo Premium Outlets. Anchored by new The International Market grocery store.  In growing and affluent (AHI $107K/yr in 3 mile) Southern CA City. 94% NNN leased. NOI $1.373M. 8.07% cap.  
6. Office Building in Louisville, CO: 62,219 SF newly constructed multi-tenant office building on 5.35 acres of land in affluent Denver metro with AHI $134K/yr. 100% NNN leased to three quality tenants. NOI $785K/yr. $9.82M. 8% cap.  
7. MOB in San Lois Obispo, CA: 5000 SF single-tenant medical office building close to Sierra Vista Regional Med Ctr and Fwy-101. 100% NNN leased. NOI $105K/yr. $1.75M. 6% cap.  
8. MOB in Columbus, GA: 20,417 SF Class-A medical office building on 2 ac lot close to I-185.  96% NNN leased. NOI $272K/yr. $3.495M. 7.79% cap.  
9. Retail Center in Durham, NC: 14,036 SF well-kept 7-unit retail center on 2.50 ac lot next to I-85. 100% NNN leased. NOI $165K/yr. $1.95M. 8.50% cap.

© Transmercial 2012.