Tuesday, February 3, 2015

01-20: Chipotle, Meineke, Mixed-Use, Shopping Centers

  1. Retail Center in North Shores, MI: 10,500 SF attractive strip center built in 2000 on 1.26 ac outpad to Power Center with Hobby Lobby, TJ Maxx and Target. Adjacent to The Lakes Mall and near Hwy-31. 81% leased. NOI $113K/yr. $1.425M. 8% cap.
  2. Chipotle in Puyallup, WA: 2137 SF brand new Chipotle restaurant on .51 ac lot in fast growing and upper middle class Tacoma/Seattle suburbs. Close to 1,000,000 SF South Hill Mall. Near MultiCare Good Samaritan Hospital and Hwy-512. 15-yrs NNN lease. NOI $100K/yr with 10% rent increases every 5-yrs. $2.015M. 5% cap.
  3. Retail Buildings in Phoenix, AZ: 21,219 SF consisting of three retail buildings on 1.37 ac lot along main corridor and at a signalized intersection. Shadow anchored by 99 cents Only. Next to Home Depot.  Close to Paradise Valley Hospital and Hwy-51. 93% leased. NOI $245K/yr. $3.063M. 8% cap.
  4. Office Building in Oregon City, OR: 34,361 SF Class-A multitenant office building on 1.47 ac corner lot. Close to Providence Willamette Medical Center. 87% leased to federal, state and local government tenants. NOI $523K/yr. $6.75M. 7.75% cap.
  5. Shopping Center in Apple Valley, MN: 39,300 SF consisting of two well maintained retail buildings on over 3 ac lot in high income Minneapolis suburbs. Roof replaced in 2014. 72% leased with good tenant mix. NOI $188K/yr. $2.9M. 6.50% actual cap. Upside potential.
  6. Shopping Center in Houston, TX: 91,382 SF attractive shopping center on 7.21 ac lot anchored by Food Town in a densely populated area. 95% leased. Price/NOI N/A.
  7. Meineke in Peoria, AZ: 2550 SF auto care center built in 2005 on 1 ac lot in Phoenix suburbs. With easy access to Hwy-101. 100% NNN leased with 5-yrs left. NOI $96K/yr with annual rent increases. $$1.327M. 7.25% cap. 
  8. MOB in Houston, TX: 26,986 SF Class-B multitenant medical office building on 1.46 ac lot adjacent to Houston Northwest Medical Center. Close to I-45. 96% leased. Actual NOI $224K/yr. $2.882M. 7.79% actual cap. Upside potential when fully leased.
  9. Mixed-Use in Fremont, CA: 10,138 SF well kept retail/office building renovated in 2004 in a high income Silicon Valley suburbs with an AHI of $100K/yr in 1 mile. Close to Washington Hospital and I-880. $2.448M.

            (c) Transmercial 2015



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