01-16: MOB's, Walgreen's, Shopping Centers, Strip Centers

1. Shopping Center in Las Vegas, NV: 71,000 SF attractive shopping center on 6.46 ac lot across from University Medical Center and Valley Hospital Medical Center. Close to the STRIP and I-15. 97% leased. NOI $833K/yr. $11.2M. 7.44% cap.
2. Strip Center in West Jordan, UT: 7772 SF 5-units strip center built in 2007 in fast growing Salt Lake City suburbs. 84% NNN leased with only 1 vacant unit. Pro forma NOI $127K/yr. $1.5M. 8.49% pro forma cap.
3. Retail Center in San Leandro, CA: 18,643 SF well maintained retail center at a hard corner location in Silicon Valley. Across from K Mart. Near Bayfair Center Power Center.  Tenants include: Chinese restaurant, Joy Cleaners, Extreme Nails & Spa, ACE Cash Express, WCM Insurance, Martial Arts, Spa Massage & PC Repair with only one vacancy. NNN leases. NOI $183K/yr. $2.388M. 7.70% cap.
4. Shopping Center in Carrolton, TX: 83,697 SF attractive shopping center in upper middle-class Dallas suburbs. 88% leased to Dollar Tree, Harbor Freight Tools, Luxury Salon Suites, Mattress Superstore, Christian Community Action and Alli Oops Snowcone Stand. Actual NOI $607K/yr. $7.145M. 8.50% actual cap. Upside potential.
5. Office Building in West Jordan, UT: 14,716 SF Class-A office building on over 1 ac lot in Salt Lake City suburbs. Part of Jordan Landing, a 2,000,000 SF Power Center with over 155 stores & restaurants.  80% NNN leased. Actual NOI $209K/yr. $2.75M. 7.60% cap.
6. MOB in Federal Way, WA: 15,300 SF Class-B medical office building on 1+ ac lot in growing Seattle suburbs. Across from St. Francis Hospital and close to I-5.  NNN leased to multiple tenants. Pro forma NOI $157K/yr. $2.25M. 7% cap.
7. Retail Building in Fresno, CA: 3795 SF well maintained retail building on .42 ac lot along major corridor. Across from Manchester Mall. Close to Hwy-41. 100% NNN leased to AT&T dealer + cell tower. NOI $86K/yr. $1.078M. 8% cap.
8. MOB in O’Fallon, MO: 5072 SF Class-B medical office building constructed in 2003 on .78 ac lot in growing (124.61% pop growth since 2000) and high income (AHI $107K/yr) St. Louis suburbs. 100% NNN leased to 2 tenants: Mooney Orthodontics and O’Fallon Family & Cosmetic Dentistry. NOI $96K/yr. $1.2M. 8% cap.
9. Retail Center in Suwanee, GA: 11,200 SF retail center along major corridor in affluent Atlanta metro with an AHI of $131K/yr. Across from Kroger grocery center. NNN leased. NOI $176K/yr. $2.2M. 8% cap.
10. Walgreen’s in Cleveland, OH: 13,428 SF drive-thru pharmacy on 1.74 ac lot at a signalized location. 20 yrs NNN- lease with recently renewed 5 yrs lease. NOI $168K/yr. $2.1M. 8% cap.

            (c) Transmercial 2014