Wednesday, October 24, 2012

10-10: Hardee's, Jiffy Lube, Family Dollar, Taco Bell, MOB, Burlington Coat Fact.



  1. Shopping center in Melbourne, FL: 21,100 SF shopping center built in 2008 at a signalized corner with full visibility from the main roads.  Shadow anchored by O’Reilly Auto Parts.  66% leased to 5 tenants including Amscot Financial (regional tenant), Anytime Fitness.  5 small vacant units.  Current NOI $156K/yr ($240K/yr proforma). $1.85M. 8.5% cap (13% Proforma).  
  2. Hardee’s in Lawrenceville, GA: 2854 SF brand new restaurant on 1.3 ac lot near Walmart & Kohl’s in Atlanta suburbs.  New 20 yrs absolute NNN lease to an operator with 99 Hardee’s/Carl’s Jr. units.  NOI $144K/yr with 7.5% rent bumps every 5yrs. $1.92M. 7.5% cap.  
  3. Office Building in Bakersfield, CA: 97,363 SF 4-story class-A 16-suite office building on 3.6 ac lot with a separate 763-spaces parking garage (included) in premier area.  92% leased.  NOI $1.66M. $13.95M. 10.19% cap.  
  4. Jiffy Lube in Richmond, VA: 3060 SF Jiffy Lube built in 2008 on 1.16 ac lot.  100% absolute NNN lease with 10+ yrs left to the 2nd largest Jiffy Lube operator  NOI $72K/yr. $949K. 7.6% cap.  
  5. Family Dollar in Houston, TX: 8485 SF new Family Dollar store on over 2 ac lot at an intersection.  New 10 yrs NNN- corp lease.  NOI $119K/yr. $1.544M. 7.755 cap.  
  6. Medical Office Building in San Diego, CA: 38,665 SF 4-story medical office building on 1.89 ac lot.  Anchored by 11,462 SF Coast Surgery Center since 1998.  100% NNN leased to 8 tenants.  NOI $1.113M. $15.25M. 7.3% cap.  
  7. MOB in Mesa, AZ: 7592 SF class-A single-tenant medical office building near Banner Gateway Medical center in upper middle-class Phoenix metro.  100% NNN leased to Verve wellness center with Chiropractic, Dental, Eye-care, Medical and more.  NOI $144K/yr. $1.599M. 9% cap.  
  8. Shopping Center in Port Richey, FL: 91,000 SF shopping center on 8.4 ac lot across from 100+ shops Gulf View Square Mall.  Extensive recent renovations.  100% corp leased to 2 brand name tenants: Burling coat Factory and hhGregg Appliances, both with 10 yrs leases.  NOI $826K/yr. $10.334M. 8% cap. 
  9. Strip Mall in Colorado Springs, CO: 10,700 SF strip center on 1.56 ac lot in an affluent area with AHI $108K/yr in 1 mile.  Shadow anchored by Albertsons supermarkets.  100% leased.  NOI $207K/yr. $2.586M. 8% cap. 
  10. Taco Bell in Vernon, CT: 2748 SF recently-remodeled restaurant on .8 ac lot in fast growing and high income Hartford metro.  100% NNN corp ground lease (land is for sale) till 2021.  NOI $73K/yr with 10% rent bumps every 5 yrs. $1.13M. 6.5% cap.


© Transmercial 2012.
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