09-11: Ace Hardware, CBA, MOB, Retail Centers

Client's testimonial:

            David & Maria,
            Words can't describe how thankful we are of you both. We are extremely happy with all that you do! [You are] Simply the best ever! Thank you! 

            David Velasco, President & CEO, Warner Chemical Manufacturing, JB Chemical and P&B Manufacturing (repeated client)

1. Ace Hardware in Spring, TX: 15,500 SF attractive retail building constructed in 2007 on 1.85 ac lot in a fast growing and affluent Huston suburbs with an AHI of $124K/yr in 1 mile. 10-yrs NN lease with 6-yrs left. NOI $186K/yr with an rent bump in 2016. $2.75M. 6.76% cap.
2. MOB in Midland, TX: 17,155 SF well kept medical office building on 1 ac lot anchored by DaVita Dialysis Center in fast growing oil/gas town. 100% leased. NOI $265K/yr. $3.754M. 7.07% cap.
3. Christian Brothers in San Antonio, TX: 4921 SF Christian Brothers Automotive constructed in 2009 on .85 ac lot at a major retail corridor. Across from Walmart Supercenter and Lowe’s. 15-yrs absolute NNN corp lease with over 9-yrs left. NOI $176K/yr with 1.5% annual rent increases. $2.75M. 6.40% cap.
4. Retail Center in Dayton, OH: 20,940 SF in-line retail center built in 2007 on 7½ ac lot.  Shadow-anchored by 68,415 SF Kroger Grocery. 85% NNN leased to Aaron’s Rents, Ross Medical Education and Flexible Staffing. Actual NOI $146K/yr. $1.935M. 8.71% cap. Upside potential when fully leased.
5. Retail Center in Hometown, IL: 10,890 SF well kept retail center adjacent to Walgreens in growing and middle-class Chicago suburbs. 100% leased with mostly NNN leases. NOI $177K/yr. $2.074M. 8.55% cap.
6. Retail Center in Humble, TX: 14,511 SF attractive retail center built in 2005 on nearly 2 ac lot at a hard corner location in affluent (AHI $122K/yr) Houston suburbs. 100% leased. $269K/yr. $3.75M. 7.18% cap.
7. Strip Center in North Hills, CA: 8853 SF in-line strip center on .70 ac lot in densely populated Los Angeles County. Shadow anchored by 99 Cents. Near I-405. 100% NNN leased with good tenant mix including, Metro PCS and Ace Cash Express. NOI $204K/yr. $3.15M. 6.49% cap.
8. MOB in Salt Lake City, UT: 47,458 SF Class-B multi-tenant medical office building at a hard corner location. Across from Salt Lake Regional Medical Center. 94% leased. NOI $589K/yr. $6.931M. 8.50% cap.
9. Shopping Center in Folsom, CA: 40,821 SF attractive shopping center on 4.38 ac corner lot in well-off Sacramento suburbs. Adjacent to Kohl’s, Walmart and 24-Hr Fitness. 85% leased. Actual NOI $559K/yr. $7.25M. 7.70% cap.
10. Retail Center in Orlando, FL: 20,700 SF well kept retail center on 1.85 ac lot along main corridor. All units face main thoroughfare. 91% leased to credit tenants. NOI $167K/yr. $2.05M. 8.18% cap.