02-25: Grocery Outlet, MOB, Kiddie Academy, Strip Centers

1. Strip Center in Plainfield, IL: 8101 SF attractive strip center built in 2006 in along major retail artery in growing (274% pop growth) and affluent Chicago suburbs with an AHI of $138K/yr in a 3-mile ring. Shadow anchored by Kohl’s and Party City. 100% NNN leased to Sherwin Williams, Edward Jones, Kumon and Cleaners. NOI $140K/yr. $1.915M. 7.35% cap.
2. Grocery Outlet in Escondido, CA: 19,033 SF well maintained Grocery Outlet on 1.49 ac lot on a commercial corridor in San Diego metro. Across from Walmart, Home Depot and Albertsons. Near Palomar Medical Center.  10-yrs NNN- corp lease with 9-yrs left to a regional tenant with 200+ locations and $1B in revenue.  NOI $267K/yr with a rent bump in 2018.  $4.452M. 6% cap.
3. Retail Center in Lexington, SC: 11,273 SF retail center constructed in 2008 on 1.22 ac lot in growing and high income (AHI $85K/yr) Columbia suburbs. 100% NNN leased. NOI $212K/yr. $2.6M. 8.16% cap.
4. MOB in Los Angeles, CA: 9440 SF Class-B multi tenant medical office building on .48 ac lot in a densely populated area. Across from Maravilla Light Rail Station. With easy access to I-710 and Hwy-60. 100% leased to nine long-term tenants. NOI $112K/yr. $1.88M. 6% cap.
5. Shopping Center in Fort Myers, FL: 65,688 SF shopping center built in 2004 on over 14 ac outparcel to high volume Super Target along Hwy-41. 100% leased to Petco, Cost Plus World Market, Dollar Tree and TigerDirect.com. 6.75% cap. NOI/Price N/A.
6. Office Building in Phoenix, AZ: 46,523 SF Class-B four-story office building on 1.61 ac lot at a signalized corner location. Adjacent to Los Ninos Hospital.  Close to Phoenix Childrens Hospital, Arizona Heart Hospital and Hwy-51. 86% leased to multiple tenants. $4.2M. NOI N/A.
7. Kiddie Academy in Carpentersville, IL: 9000 SF child care learning facility built in 2009 on over 1 ac lot in high income Chicago metro with an AHI of $100K/yr. Close to Spring Hill Mall. 100% NNN lease with 12-yrs left to a strong franchisee with over 130 units. NOI $184K/yr. $2.46M. 7.50% cap.

            (c) Transmercial 2015