09-02: MOB, AutoZone, Shopping Centers, Retail Centers

1. Shopping Center in Linden, NJ: 43000 SF well maintained shopping center on over 3 ac lot in densely populated and upper middle class New York suburbs. 96% leased to established tenants. NOI $420K/yr. $5.8M. 7.25% cap.
2. Retail Center in Lover Park, IL: 11,208 SF well kept retail center on over 1 ac lot along main corridor in growing and upper middle class (AHI $83K/yr) Rockford suburbs. 100% leased to four tenants. NOI $96K/yr. $1.2M. 8% cap.
3. Shopping Center in Wichita Falls, TX: 85,385 SF shopping center on 7.78 ac lot along major retail corridor. Shadow anchored by Albertsons Grocery. Close to Sikes Senter Mall. 82% leased with excellent tenant mix. NOI $508K/yr. $5.65M. 9% cap.
4. MOB in McKinney, TX: 3300 SF Class-B under construction medical office building in fast growing Dallas suburbs. Across from new Baylor Hospital. New 10-yrs NNN lease. NOI $87K/yr. $1.093M. 8% cap.
5. Neighborhood Center in Indianapolis, IN: 28,069 SF consisting of two retail buildings completed in 1998 on 8.30 ac lot. Shadow-anchored by Kroger Grocery. 68% leased. Actual NOI $199K/yr. $2.6M. 7.66% cap. Upside potential when fully leased.
6. Professional Building in Lisle, IL: 24,000 SF well kept office building on over 1 ac lot in high income Chicago suburbs with an AHI of $108K/yr in 3 miles. 83% leased to medical/professional tenants. NOI $263K/yr. $2.85M. 9.20% cap.
7. MOB in Denton, TX: 3584 SF Class-A single-tenant medical office building on .45 ac lot in fast growing Fort Worth/Dallas metro. Across from Denton Regional Medical Center. Close to North Texas Hospital and I-35E. 100% NNN lease with 4-yrs left to a cardiologist. NOI $76K/yr. $983K. 7.75% cap.
8. AutoZone in San Antonio, TX: 6780 SF AutoZone on .78 ac lot at a hard corner location. 100% NNN corp ground lease (land for sale) with 11-yrs left. NOI $51K/yr with 10% rent increases in 2015 and every 5-yrs thereafter. $1.032M. 5% cap.
9. Strip Center in La Mesa, CA: 7245 SF well maintained strip center at a signalized corner location in densely populated and upper middle-class San Diego County. Close to Hwy-125. 100% NNN leased. NOI $118K/yr. $2.05M. 5.75% cap.
10. Retail Center in Norcross, GA: 11,750 SF attractive retail center on 1.50 ac lot at a signalized intersection in Atlanta suburbs. Along Hwy-23. 89% leased. Actual NOI $149K/yr. $1.799M. 8.30% cap. Upside potential.

            (c) Transmercial 2014