05-28: Rite Aid, LA Fitness Center, Apartments, MOB, Sweet Tomatoes

1. Retail Center in Houston, TX: 7430 SF retail center built in 2006 on .57 ac lot along main corridor in growing and upper middle class area with an AHI of $81K/yr in 1 mile. 100% leased. NOI $94K/yr. $1.1M. 8.60% cap.
2. Rite Aid in Kennesaw, GA: 10,908 SF drive-thru Rite Aid Pharmacy on 2.61 ac corner lot with good egress/ingress in fast growing & high income (AHI $109K/yr) Atlanta metro. 100% NNN lease with over 10-yrs left. NOI $300K/yr. $4.297M. 7% cap.
3. Neighborhood Center in Oregon City, OR: 35,305 SF attractive retail center built in 2007 at a corner location in growing Portland suburbs. National credit tenants include: FedEx, Five Guys Burgers and Fries, Starbucks, Sport Clips, Panda Express, West Coast Bank and AT&T. 93% NNN leased with only two vacancies. NOI $875K/yr. $12.5M. 7% cap.
4. LA Fitness in Goodyear, AZ: 45,000 SF Fitness Center completed in 2010 at a hard corner location in booming (1,676% pop growth since 2000) and high income (AHI $100K/yr) Phoenix metro. 15-yrs NNN lease with 11-yrs left. NOI $903K/yr. $12.2M. 7.40% cap.
5. Apartments in Fresno, CA: 16-units recently renovated apartment complex between CA State University, Fresno and Fashion Fair Mall. Close to Hwy-41. 100% occupied. NOI $65K/yr. $975K. 7.08% cap.
6. Retail Center in Magnolia, TX: 16,600 SF retail center on 1.84 ac lot in growing and affluent Houston MSA with an AHI of $151K/yr in 1 mile. Across from Super Target. 100% NNN leased. 8.83% cap. Price/NOI N/A.
7. New Horizons Day Care in Edmond, OK: 14,369 SF day care facility built in 1995 on 2.69 ac lot along main artery in high income (AHI $102K/yr) Oklahoma City suburbs 100% absolute NNN lease with 8-yrs left to strong operator with 200 units. NOI $165K/yr with annual CPI rent bumps. $2.2M. 7.50% cap.
8. MOB in Ontario, CA: 15,950 SF Class-A multi-tenant medical office building completed in 2004 anchored by DaVita in San Bernardino County. 100% leased. NOI $231K/yr. $3.7M. 6.25% cap.
9. Retail Center in Winston Salem, NC: 12,999 SF attractive retail center at a busy corner location outparcel to Walmart Supercenter. Across from Lowe’s Hardware. 100% NNN to 9-tenants. NOI $189K/yr. $2.7M. 7% cap.
10. Sweet Tomatoes in Albuquerque, NM: 7512 SF well maintained buffet restaurant completed in 1996 on 1.59 ac lot along major retail artery. 100% absolute NNN corp lease with 10-yrs left. NOI $172K/yr with 1.25% annual rent increases. $2.76M. 6.25% cap.

            (c) Transmercial 2014