10-28: MOB, Shopping Centers, Retail Centers

1. Retail Center in Phoenix, AZ: 12,980 SF retail center built in 2008 on 1.38 ac lot in fast growing area. Close to I-17. 100% leased. NOI $271K/yr. $3.65M. 7.44% cap.
2. Neighborhood Center in Indianapolis, IN: 50,107 SF well maintained shopping center on over 5 ac lot anchored by 21,500 SF Jo-Ann Fabric. Adjacent to 963,000 SF Washington Square Mall, with Target, Sears, Dicks Sporting Goods and Burlington Coat Factory. 90% NNN leased.  Actual NOI $401K/yr. 4.34M. 9.25% actual cap. Upside potential.
3. Shopping Center in Powel, OH: 49,810 SF shopping center constructed in 2001 on 7.78 ac lot anchored by Discount Drug Mart, a regional tenant with 71 stores. Great demographics: 116% pop growth since 2000 and AHI of $123K/yr in a 3 mile ring. Close to Columbus Zoo and Aquarium. 89% leased. NOI $578K/yr. $6.975M. 8.30% cap.
4. Retail Center in Friendswood, TX: 33,379 SF retail center built in 1996 on 2.46 ac lot in fast growing and affluent Houston suburbs with an AHI of $140K/yr in 1 mile. Adjacent to H-E-B Grocery. 100% NNN leased. 8.5% cap. NOI N/A.
5. Retail Center in Toledo, OH: 21,000 SF retail center completed in 2002 on 2.78 ac lot along main corridor. With easy access to I-475. 100% NNN leased. NOI $185K/yr. $2.16M. 8.60% cap.
6. Neighborhood Center in Glendale Heights, IL: 58,251 SF well kept shopping center on 2.60 ac lot along main thoroughfare and in high income (AHI $83K/yr) Chicago suburbs. 88% leased. NOI $428K/yr. $4.95M. 8.66% cap.
7. MOB in Lake Worth, FL: 34,753 SF Class-B medical office building constructed in 2009 on 1.72 ac lot at major artery and with easy access to Hwy-93. 94% leased to multiple tenants. NOI $833K/yr. $11.49M. 7.25% cap.
8. Retail Center in Aurora, IL: 11,485 SF attractive retail center built in 1998 on 1.26 ac lot in growing Chicago suburbs. 84% leased. Pro forma NOI $183K/yr. $1.995M. 9.21% cap.
9. Shopping Center in Mentor, OH: 103,910 SF well maintained shopping center on over 9 ac lot anchored by Big Lots in Cleveland suburbs. Near on/off ramp of Hwy-2. 91% leased. Actual NOI $517K/yr. $6.47M. 8% cap.
10. Retail Building in Hayward, CA: 18,690 SF two tenant retail center on over 1 ac lot in San Francisco Bay Area. 100% NNN lease to Aaron’s and Larry’s Tire Express. NOI $203K/yr. $3.252M. 6.25% cap.

            (c) Transmercial 2014