05-19: Kohl's, Pick 'n Save, Apartments, Shoney's, Office Buildings

• AHI: Avg. Household Income.  National average is about $55+K/yr.
• NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.
• NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.
• NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1. Kohl’s in Sherwood, OR: 58,093 SF recently renovated free standing single tenant building on over 4 ac lot at signalized corner location and along Hwy-99 in Portland metro. 21-yrs absolute NNN corp lease with 19+ yrs left. NOI $429K/yr with a rent bump in year 11. $7.595M. 5.65% cap. NOTE: flyer not included, full brochure upon request.
2. Strip Center in Little Elm, TX: 8895 SF strip center built in 2006 outparcel to Lowes in fast growing and affluent Dallas suburbs. Across from Walmart and Hobby Lobby centers. Tenants include:  In Touch Credit Union with three drive-thru lanes, AT&T Store, Tutti Frutti Yogurt, Bakers Dozen Donuts and Kiran Arora, DDS. 100% NNN leased. NOI $242K/yr. $3.24M. 7.50% cap.
3. Pick ‘n Save in Pewaukee, WI: 55,440 SF Pick ‘n Save grocery store built in 1999 on 6.22 ac lot in high income Milwaukee suburbs with an AHI of $93K/yr. Between Menards and Walmart. Recently extended 10-yrs NNN- lease. NOI $713K/yr. $10.109M. 7% cap.
4. Shopping Center in Santa Clarita, CA: 42,134 SF shopping center built in 2005 on over 4½ ac lot at a signalized location in high income (AHI $120K/yr) Southern California. Anchored by 16,784 SF free standing CVS Pharmacy. 86% NNN leased. $14.07M. 6% cap.
5. Shopping Center in Pasadena, TX: 19,328 SF well maintained shopping center on 1.82 ac lot along major artery in Houston suburbs. Close to Bayshore Medical Center. 100% NNN leased. NOI $180K/yr. $2.2M. 8.80% cap.
6. Apartments in Sacramento, CA: 16-units well kept multifamily building on .42 ac lot. Across school, close to shopping centers and I-80. NOI $91K/yr. $995K. 9.20% cap.
7. Shopping Center in Las Vegas, NV: 40,000 SF shopping center on over 3 ac lot anchored by 32,200 SF high-rating 24-Hour Fitness. Other tenants include: Watermill Express,  and 3 cell towers for Sprint, T-Mobile and Cingular Wireless. Close to I-515. 100% leased. NOI $553K/yr. $6.1M. 9.08% cap.
8. Shoney’s in Greensboro, NC: 5,798 SF restaurant on 1.74 ac lot right off I-40 exit. 20-yrs NNN corp lease with 13-yrs left.  NOI $93K/yr with 6% rent bumps every 4 yrs.  $1.25M. 7.5% cap.
9. Retail Center in Superior, CO: 17,505 SF well maintained retail center at a hard corner location in Denver suburbs. Shadow-anchored by Safeway grocery. 90% leased with solid mix of national & regional tenants. $3.8M. NOI/Cap N/A.
10. Office Buildings in Worthington, OH: 89,187 SF consisting of two Class-B office buildings along main thoroughfare in high income (AHI $108K/yr) Columbus metro. Close to Worthington Square Mall and I-270 exit. 95% leased by 46 tenants. 96% occupied.  NOI $417K/yr. $4.5M. 9.27% cap.

            (c) Transmercial 2014