09-21: AutoZone, Walgreens, Michaels, Office Building, Shopping Center

1. AutoZone in Aurora, IL: 5360 SF AutoZone built in 2002 on .73 ac lot in Chicago suburbs.  100% absolute NNN corp ground lease till 2023 (Land is for sale, tenant owns the building).  NOI $59K/yr with 6% rent bumps every 5 yr option.  $960K. 6.15% cap.  
2. Walgreens in Las Vegas, NV: 15120 SF drug store built in 2001 on over 2 ac corner lot in high income area. 100% NNN- till 2020.  NOI $322K/yr. $4.35M. 7.4% cap.  
3. Walgreens in Hayward, CA: 15120 SF drugstore built in 2000 on 1.5 ac lot in middle-class San Jose metro.  100% NNN- till 2025.  NOI $425K/yr with rare 10% rent bump in 2025. $7.083M. 6% cap.  
4. Office Building in Irvine, CA: 9900 SF 2-story multi-tenant office building constructed in 2003 in high growth, high income Orange county.  Easy access to I-5 and I-405.  100% leased.  NOI $252K/yr. $2.97M. 8.5% cap.  
5. Michaels in Kansas City, MO: 22,810 SF single-tenant retail center as a part of 1M SF mixed-use Rosa Zona development in fast growing & high income area.  New 10 yrs NNN lease to Michaels Arts & Crafts.  NOI $316K/yr. with rent bump in 5 yrs. $3.95M. 8% cap.  
6. Shopping Center in Hercules, CA: 25,144 SF inline shopping center in high growing and high income San Fran suburbs.  Shadow anchored by Home Depot and Big Lots.  88% leased.  Tenants include Bank of America, US Post Office, The UPS Store, and Round Table Pizza. NOI N/A.  $7.5M.

© Transmercial 2012