Friday, October 26, 2012

10-12: Taco Bell, Arby's, Oxford Bank, ACE Hardware, AutoZone, Advance Auto Parts



  1. Retail Center in Wauwatosa, WI: 25,725 SF attractive retail center on an outparcel to The Home Depot. Across from Target center and near Fwy-45 in Milwaukee suburbs. Big monument signage on site. 95% NNN leased to Advance Auto, Noodles & Company, The Barbershop, Accelerated Physical Therapy, Sherwin-Williams, Golf Tec, GNC, Verizon Wireless, and Toppers Pizza. NOI $467K/yr. $6.323M. 7.40% cap.
  2. Retail Center in Mukilteo, WA: 14,006 SF high quality construction retail center built in 2005 on 1.26 ac corner lot anchored by Office Max in growing area North of Seattle. 94% leased. Proforma NOI $420K/yr. $5.55M. 7.57% proforma cap.
  3. Taco Bell in Kissimmee, FL: 3500 SF Taco Bell restaurant on 1+ ac corner at the intersection of 2 major arteries in fast growing Orlando metro. Across from Publix center.  Tenant has been here since 1988 and just renew 5 yrs option.  NOI $161K/yr. with 10% rent bump in March 2014.  $2.015M. 8% cap.
  4. Neighborhood Center in Agoura Hills, CA: 57,336 SF stable center built in 1990 on 5.63 acres of land next to Hwy-101/38 in prosperous city (AHI $152K/yr) in Los Angeles County. 91% leased to retail/office tenants. NOI $1.179M/yr. $15.5M. 7.60% cap.
  5. Arby’s in Westland, MI: 2355 SF Arby’s free standing restaurant on 1.26 ac lot on main retail corridor and adjacent to 1,000,000 SF 100-store Westland Mall in Detroit suburbs. New 15 yrs absolute NNN corp lease. NOI $96K/yr with 7.5% rent increases every 5 yrs. $1.298M. 7.40% cap.
  6. Oxford Bank In Westmont, IL: 4117 SF Oxford Bank built in 1999 on 1+ ac hard corner location in fast growing and high income Chicago metro. 20 yrs NNN corp lease with 9+ yrs left to a bank with 7 locations. NOI $118K/yr with 3% rent bump in 2016 and every year thereafter. $1.638M. 7.24% cap.
  7. ACE Hardware in Charlotte, NC: 7500 SF stable single tenant auto store on .90 ac corner lot in fast growing area. Tenant has been at this location for 5 yrs and just exercised their 1st 5 yrs option. NOI $77K/yr. $795M. 9.70% cap.
  8. AutoZone in Riverbank, CA: 7381 SF AutoZone constructed in 2010 on 1+ ac lot at a main corridor in growing and high income (AHI $80K/yr in 1 mile) Modesto metro. Across from CVS center. 15 yrs NNN corp ground lease (land is for sale). NOI $72K/yr with 10% rent increases every 5 yrs. $1.3M. 5.54% cap.
  9. Advance Auto Parts in Austin, TX: 7000 SF auto parts center on 1+ ac lot at a major retail corridor in growing and high income area. Close to H.E.B., Lakeline Mall and Hwy-183. 15 yrs NNN corp lease with 8 yrs left. NOI $140K/yr with a 10% rent increase in 2015. $1.8M. 7.78% cap. Buyer to assume $968K loan.
  10. Strip Center in Lodi, CA: 6500 SF strip center shadow anchored by Save Mart and Rite Aid in San Joaquin Valley. 100% NN leased to 4 tenants. NOI $118K/yr. $1.425M. 8.30% cap.

© Transmercial 2012
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