02-03: Medical Condominiums, Walgreens, Rite Aid, Retail Centers

1. Retail Center in Salinas, CA: 11,312 SF attractive retail center built in 1991 on .88 ac corner lot with easy access to Hwy-101. 100% leased to One Stop Auto, Wheel World, TKO Sound Wireless, S&H Taxes and Nu Delta Ins & Financial. NOI $113K/yr. $1.57M. 7.25% cap.
2. Shopping Center in Rosenberg, TX: 22,190 SF eye-catching shopping center constructed in 2006 on over 2 ac lot at a signalized corner location in fast growing Houston metro. Close to Brazos Town Center  and I-69.  81% NNN leased. 7.14% cap. Price Not Disclosed.
3. Neighborhood Center in Delray Beach, FL: 68,292 SF well maintained shopping center on over 7 ac lot at a major signalized intersection in growing area just North of Fort Lauderdale. 97% leased. Actual NOI $815K/yr. $10.5M. 7.75% actual cap.
4. MOB’s in Lancaster, CA: 18,997 SF Class-B consisting of 16-individual medical office condominiums completed in 2009 adjacent to Antelope Valley Hospital in growing Southern California. 100% NNN lease with long-term tenants. NOI $311K/yr. $4.65M. 6.69% cap.
5. Shopping Center in Atlanta, GA: 190,167 SF well-kept shopping center on 20.56 ac of land with Bufford Highway frontage. Anchored by 85,537 SF Burlington Coat Factory. Close to I-285. 100% leased. NOI $1.622M/yr. $20.275M. 8% cap. Buyer to assume $11.8M loan at 4.66% interest due in 2025.
6. Walgreens in Fort Worth, TX: 15,120 SF Walgreen’s Pharmacy on 1.60 ac lot at a hard corner location. Strong sales of over $6M per year. 100% NNN lease with 4-yrs left. NOI $296K/yr. $4.228M. 7% cap.
7. Retail Center in Modesto, CA: 14,700 SF 5-units attractive retail center built in 2006 on 1 ac lot in growing upper middle class area. 100% NNN leased. NOI $168K/yr. $2.4M. 7% cap.
8. Shopping Center in Oak Creek, WI: 73,763 SF attractive shopping center constructed in 2005 on over 11 ac lot anchored by a 62,563 SF Pick ‘n Save Grocery in growing and high income (AHI $87K/yr) Milwaukee suburbs. With easy access to I-94. 100% leased. 7% cap. Price Not Disclosed.
9. Shopping Center in Las Vegas, NV: 53,000 SF shopping center along major retail corridor in growing (39% pop growth since 2000) and upper middle class (AHI $73K/yr in 3 miles) area. All units face main road. NOI $1.44M/yr. $12M. 12% cap (Note: Transmercial is a bit cautious about this figure).
10. Rite Aid in San Diego, CA: 17,500 SF Rite Aid Pharmacy on 1.38 ac lot in a densely populated area. Adjacent to Big Lots, dd’s Discount, Family Dollar and San Diego Marketplace. Recently extended NNN lease with 5-yrs left. NOI $99K/yr. $1.695M. 5.88% cap.

            (c) Transmercial 2015