03-12: The Learning Experience, Tanner's Bar & Grill, Popeye's, Jiffy Lube

1. The Learning Experience in Parker, CO: 11,000 SF newly constructed childcare center on over 1 ac lot in fast growing & affluent Denver suburbs (AHI $109K/yr).  15 yrs NNN- lease to The Learning Experience, a childcare provider with over 200 locations in 28 states. NOI $282K/yr with 10% rent bumps every 5 yrs.  $3.135M. 9% cap.
2. Neighborhood Center in Santa Clarita, CA: 77,647 SF well maintained shopping center built in 1998 on 9+ acres of land in high income neighborhood in Southern California. Anchored by Edwards Theatres, currently running over 6621 screens in 524 locations.  NOI $1.455M/yr. $18.5M. 7.9% cap.
3. Retail Center in Rocklin, CA: 10,660 SF attractive retail center on 1 ac lot in growing and high income Sacramento suburbs. Next to Hwy-65. Close to Galleria Mall and Stanford Crossing Power Center with Sprouts Farmers Market, Ross, Home Depot, Jo-Ann Fabrics and Crafts and Guitar Center. 80% NNN leased. NOI $116K/yr. $1.505M. 7.71% cap. Upside potential when fully leased.
4. Tanner’s Bar & Grill in Kansas City, MO: 6000 SF Tanner’s Bar & Brill Restaurant on 1.41 ac corner lot on a major artery in growing and high income (AHI $89K/yr in 3 mile) area. Across from Walmart Supercenter and near I-35. New 5 yrs absolute NNN lease to a regional tenant. NOI $90K/yr. $1M. 9% cap.
5. Popeye’s in Lawrenceville, GA: 2382 SF Popeye’s restaurant along major retail corridor in fast growing Atlanta metro. New 15 yr NNN ground lease (land for sale) to strong franchisee with 14 units. NOI $111K/yr with unusual 20% increase in yr 11. $1.645M. 6.75% cap.  This is a sale & leaseback investment.
6. Strip Center in Redding, CA: 5515 SF attractive strip center on 1 ac lot in a growing middle class city in Northern California.  Off of Hwy-273. 100% NNN leased to Starbucks, Edward Jones, Baja Burrito and Good Will. NOI $178K/yr. $2.224M. 8% cap.
7. Neighborhood Center in Orlando, FL: 143,132 SF well kept shopping center on over 14 acres of land at a hard corner location. Anchored by Winn Dixie grocery (regional tenant) including four outparcels ground leased to McDonalds, KFC//Taco Bell, Bank of America and Valvoline Oil. 82% leased. NOI$817K/yr. $9.5M. 8.60% cap.
8. Shopping Center in Oak Harbor, WA: 72,104 SF well maintained shopping center on 6+ ac lot anchored by Saar’s Market Place grocery in a growing community just North of Seattle. 98% leased. NOI $735K/yr. $9.49M. 7.75% cap.
9. Jiffy Lube in Independence, MO: 4,073 SF Jiffy Lube three-bay auto center built in 2004 on .52 ac lot in growing and affluent (AHI $114K/yr in 1 mile) Kansas City suburbs. 20 yrs absolute NNN lease with 11 yrs left to largest franchisee with over 500 units. NOI $96K/yr with rent bumps every 5 yrs. $1.13M. 8.50% cap.

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