09-14: Rite Aid, Shopping Centers, MOB

1. Retail Center in Pearland, TX: 8000 SF retail center built in 2004 on .88 ac outparcel to The Home Depot in prosperous Houston suburbs with an AHI of $129K/yr in 1 mile. Across from Walgreens and near Wal-Mart Supercenter. 100% leased to 6 tenants including Navy Career Center, The Fish Place, T-Mobile, Donuts Delight, Game Stop, and Cricket Wireless. 8.48% cap. NOI/Price not disclosed.
2. Rite Aid in Westlake, OH: 11320 SF drive-thru Rite Aid pharmacy built in 1998 on 1.61 ac lot at a high traffic location and in high income (AHI $85K/yr) neighborhood in Cleveland metro. 100% absolute NNN lease with 9 yrs left. NOI $390K/yr. $4.108M. 9.50% cap.
3. Neighborhood Center in Virginia Beach, VA: 58,230 SF well maintained center on 7.60 acres of land anchored by Food Lion supermarket at busy corridor. 98% leased with only one 1,044 SF unit vacant. NOI $324K/yr. $3.395M. 9.56% cap.
4. Shopping Center in Duarte, CA: 28,980 SF attractive shopping center con 1.80 ac lot at a signalized corner in a densely populated Southern CA area. 53% leased. $4.15M. Cap/NOI not provided.
5. MOB in Oklahoma City, OK: 18,160 SF single-tenant medical office building constructed in 1997 on 2.28 ac lot near Lake Hefner in affluent (AHI $129K/yr) Oklahoma City. 100% leased to a Lake Hefner Cancer Center. $4.3M. NOI/Cap not available.
6. Shopping Center in Kissimmee, FL: 42,158 SF shopping center built in 1992 in Orlando suburbs. Close to Florida Hospital and I-4. NNN leases. 8% cap. Price/NOI not disclosed.
7. Retail Center in Lexington, SC: 7500 SF attractive retail center in fast growing (74.68% pop growth since 2000) and high income (AHI $104K/yr) Columbia suburbs. Across from Target and Best Buy. 100% NNN leased to Hair Salon, Nail Salon, Karate School and Bakery. 12% cap. NOI/Price not disclosed.

© Transmercial 2012

09-13: Coco's Restaurant & Bakery, Retail Centers

1. Strip Center in Palmhurst, TX: 7788 SF under construction strip center on 1.18 ac lot in McAllen suburbs. Across from Walmart Supercenter & next to Walgreens. 100% NNN leased to 6 tenants. NOI $182K/yr. $2.088M. 8.75% cap.
2. Strip Center in Baldwin, NY: 4448 SF well maintained strip center on .30 ac lot in a high income (AHI $113K/yr)  coastal city in New York metro. Close to South Nassau Communities Hospital and Hwy-27. 87% leased. NOI $58K/yr. $725K. 8% cap.
3. Retail Center in Yucaipa, CA: 6016 SF four units newly constructed retail center on 1+ ac outparcel to Fresh and Easy center at a signalized location in San Bernardino County. High income area with AHI $95K/yr in 1 mile. NNN leases. NOI $136K/yr. $1.9M. 7.19% cap.
4. Retail Center in Houston, TX: 10,306 SF retail center built in 2000 on .75 ac lot at the intersection of Hwy-59 and Bellaire Blvd. Across from Sharpstown Center and close to Memorial Hermann Hospital-SW. 100% NNN leased. NOI $174K/yr. $2.1M. 8.3% cap.
5. Neighborhood Center in Saint Charles, MO: 112,506 SF neighborhood center renovated in 2008 on 14+ acres of land in high income St Louis suburbs.  Anchored by TJ Maxx, Harbor Freight Tools and Shoe Carnival. Adjacent to a 227,000 SF center anchored by The Home Depot, Target and Famous Footwear. Close to Barnes-Jewish St Peters Hospital and I-70.  89.46% NNN leased. NOI $1.152M/yr. $11.5M. 10.02% cap. Upside potential.
6. Shopping Center in Canton, GA: 19,285 SF retail center consisting of two buildings and free standing Wendy’s restaurant on ground lease.  On 4+ acres of land in fast growing and high income Atlanta metro. Across from Publix anchored center. 70% leased. NOI $225K/yr. $2.5M. 9% cap.
7. Coco’s Restaurant & Bakery in Victorville, CA: 6330 SF free standing restaurant on 1.40 ac lot off/on ramp I-15 in San Bernardino County. Tenant has been at this location since 1995. New long absolute NNN lease. NOI $150K/yr with a rent increase in 2017. $2.04M. 7.35% cap.

© Transmercial 2012

09-12: DaVita Dialysis, Office Buildings, Medical Office Buildings

1. DaVita in Apopka, FL: 8586 SF dialysis center built in 2006 on 1.17 ac lot in Orlando suburbs. 100% NNN leased with 9 yrs left. NOI $245K/yr with CPI rent bumps every 3 yrs. $2.975M. 8.25% cap.
2. Retail Center in San Antonio, TX: 11,960 SF retail center built in 2007 on 1+ ac corner lot  in growing and upper middle class area. 100% leased. NOI $169K/yr. $2.25M. 7.42% cap.
3. MOB in Westerville, OH: 41,093 SF Class B three-story medical office building on 3.8 acres of land in high income (AHI $101K/yr) Columbus suburbs. Close to Polaris Fashion Mall and I-71. 100% leased. NOI $660K/yr. $7.9M.  8.36% cap.
4. Shopping Center in Eustis, FL: 15,100 SF inline center on 1.55 ac lot in Orlando suburbs. Shadow anchored by Kohl’s and anchored by 9,500 SF Dollar Tree, Hibbett Sports and Firehouse Subs. Across from Publix anchored center. 100% leased. NOI $200K/yr. $2.505M. 8% cap.
5. Retail Center in Elk Grove, CA: 14,636 SF retail center built in 2007 on 2 ac lot adjacent to Target, Michaels, Petco and OSH anchored center in well off Sacramento suburbs. 91% NNN leased to 8 tenants with 1 avail unit. NOI $226K/yr. $2.6M. 8.71% cap.
6. Office Building Arlington, TX: 19,957 SF well maintained office building constructed in 1998 on 2+ ac corner location in growing and high income area. 84% NNN leased. NOI $279K/yr. $2.65M. 10.03% cap.
7. Strip Center in Seattle, WA: 12,270 SF eight units strip center on .30 ac lot along main retail corridor just minutes from Downtown. 100% NNN leased. NOI $160K/yr. $2M. 8.03% cap.
8. Office Building in Mason, IN: 41,386 SF Class-A office building constructed in 2000 on 4.70 ac lot in growing and prosperous (AHI $107K/yr) Cincinnati suburbs. 100% NNN leased to 2 tenants: Cintas (NASDAQ: CTAS, S&P Rated: BBB+) occupies 84% of building with its IT Department and Summer Hill Investments.. Across from Cintas International Headquarters and near I-71. NOI $416K/yr. $4.4M. 9.47% cap.
9. MOB in South Milwaukee, WI: 7340 SF well maintained single-tenant medical office building constructed in 1993 on .24 ac lot located in the middle of Downtown and close to many attractions. 100% leased with 14 yrs left. NOI $95K/yr with rent increases. $1.195M. 8% cap.

© Transmercial 2012

09-11: Arby's, 24 Hour Fitness, MOB, Retail Centers

1. Arby’s in West Valley City, UT: 2784 SF Arby’s Restaurant renovated in 2010 on 1+ ac lot along State Hwy-172 in fast growing Salt Lake City suburbs. Well performing store with over $1.5M in sales. 20 yrs absolute NNN corp lease till 2017. NOI $91K/yr with 4% rent increases every 2 yrs. $1.305M. 7% cap.  Low 6% rent o income ratio means very profitable location and likely to renew lease.
2. Retail Center in Round Lake Beach, IL: newly constructed shopping center consisting of 7516 SF Firestone on 20 yrs ground lease and 14,086 SF retail center with brand name tenants including Chipotle, Starbucks and T-Mobile. Across from Round Lake Beach Metra Train Station & at signalized intersection along Route-83 in well-off Chicago metro. 100% NNN leased. NOI $472K/yr. $6.285M. 7.51% cap.
3. 24 Hour Fitness in Fort Worth, TX: 43,801 SF fitness center built in 2008 on 3.51 acres of land in fast growing (241.19% growth since 2000) and high income area. 15 yrs NNN- corp lease with 12 yrs left. NOI $1.026M/yr with 10% rent increases every 5 yrs. $11.4M. 9% cap.
4. Retail Center in Mansfield, TX: 10,730 SF attractive retail center built in 2008 on nearly 2 ac lot in fast growing and affluent (AHI $101K/yr) & dense trade area in Dallas metro.  Close to Methodist Mansfield Medical Center . 100% NNN leased to 7 tenants. NOI $ 216K/yr. $2.525M. 8.60% cap.
5. Strip Center in Lake Charles, LA: 8250 SF strip center built in 2008 on .71 ac lot adjacent to Prien Lake Mall and off/on ramp I-210. NNN leased to T-Mobile, Radio Shack and America’s Best. NOI $189K/yr. $2.295M. 8.25% cap.
6. Retail Center in Carpentersville, IL: 18,144 retail center built in 2004 on 2+ ac outparcel to Woodman’s Market and next to Menards. Excellent demographics: AHI $135K/yr. within 1 mile. Major tenants: Caribou Coffee, US Army Recruiter, Anytime Fitness and many more.100% NNN leased. NOI $385K/yr. $4.1M. 9.4% cap.
7. MOB in Belleville, NJ: 5300 SF Class-B medical office building constructed in 2002 in densely populated New York metro with over 700,000 residents within 5 miles.  Across from Clara Maass Medical Center. $950K. NOI/Cap not provided.
8. MOB in Houston, TX: 11,490 SF Class-B medical office building on 1 ac lot. Near Houston Northwest Medical Center and I-45. 86% leased to a diverse mix of medical tenants specializing in vascular and thoracic surgery, general surgery, and family medicine. NOI $114K/yr. $972K. 11.75% cap.

© Transmercial 2012

09-10: Greulich's Automotive, Church Chicken, Walgreen's, MOB's

1. Greulich’s Automotive in Peoria, AZ: 4,216 SF auto repair center built in 2003 on .63 ac lot off/on ramp Fwy-101. 100% absolute NNN lease with 7 yrs left to a regional tenant with 15 locations in AZ. NOI $104K/yr with a 12% rent increase in 2014. $1.351M. 7.75% cap.
2. Church’s Chicken in Stockton, CA: 1100 SF drive-thru restaurant renovated in 2005 on .41 ac lot at a signalized corner location. 100% absolute NNN corp lease with 12 yrs left. NOI $73K/yr with 1.5% annual rent increases. $1.05M.  6.97% cap.
3. Strip Center in San Jose, CA: 6706 SF well maintained strip center on .53 ac corner location near Fwy-85. NNN leased to five tenants. NOI $155K/yr.  Price reduced to $2.299M. 6.77% cap.
4. Shopping Center in San Jose, CA: 20,690 SF shopping center adjacent to new AutoZone in the heart of Silicon Valley. Near Regional Medical Center of San Jose, I-680 and Fwy-101. 100% leased with excellent tenant mix. NOI $326K/yr. $4.209M. 7.75% cap.
5. MOB in South Pasadena, CA: 21,836 SF Class-A four-story medical office building renovated in 2000/2008 on .69 ac lot in densely populated & affluent (AHI $142K/yr in 1 mile) Los Angeles metro. 100% leased to City of Hope Medical Foundation, a California non-profit corporation. NOI $528K/yr. $8.295M. 6.37% cap.
6. MOB in Fort Wayne, IN: 19,826 SF Class-A build-to-suit medical office building constructed in 1992 in fast growing and high income area. Across from 412-beds, Lutheran Hospital of Indiana and close to I-69. 100% NNN lease with 4 yrs left to region’s largest OBGYN and Women’s Health practice. NOI $414K/yr with 3% annual rent increases. $4.145M. 10% cap.
7. Walgreen’s in Dearborn Heights, MI: 13,905 SF drive-thru drug store built in 1998 pm 1.45 ac lot at a signalized corner location. 20 yrs NNN- corp lease with 5 yrs left. NOI $385K/yr. $4.535M. 8.50% cap.

© Transmercial 2012