04-01: BJ's Restaurant & Brewhouse, Apartments, Walgreens, MOB, Shopping Centers

1. Shopping Center in Raleigh, NC: 33,900 SF shopping center built in 1992 on nearly 6 ac lot grocery in fast growing and upper middle class area. Anchored by 29,000 SF Food Lion, a regional tenant with 1300 locations in 13 states.  All tenants face main road. Close to I-540. 100% NNN leased. NOI $194K/yr. $1.942M. 10.01% cap.
2. Medical Office Condo in Mesa, AZ: 7592 SF highly upgraded medical office condo in growing and high income area with an AHI of $92K/yr in 1 mile.  Close to Banner Gateway Medical Center and Hwy-60. 100% NNN leased to Verve Wellness, providing full range of medical, dental, chiropractic, naturopathic, massage, yoga therapy, optical services and product. 100% NNN leased. NOI $162K/yr. $2.234M. 7.25% cap.
3. BJ’s Restaurant & Brewhouse in San Bernardino, CA: 7851 SF restaurant and brewhouse built in 2004 on .84 ac lot at a major retail artery. Close to Sam’s Club, Costco and I-10. 20 yrs NNN ground lease (land for sale) with 11 yrs left. NOI $106K/yr with a 10% rent increase in 2014. $2.132M. 5% cap.
4. Shopping Center in Aurora, CO: 65,810 SF well kept shopping center anchored by Dollar Tree in growing Denver metro. Close to Town Center at Aurora, with 150+ stores and I-225. 77% leased. NOI $352K/yr. $4.4M. 8.01% cap.
5. Apartments in Tacoma, WA: 16-unit 1 & 2 bedroom apartment complex built in 2002 in high (AHI $86K/yr) income area. Seller invested $150K into a building upgrade, includes new refrigerators, dishwashers, dryers, carpet, heaters, fireplaces, new laminate floors, bathroom tile floors, paint, pipe arrangement, electricity, doors and lights. 98% occupancy. NOI $127K/yr. $1.499M. 8.50% cap.
6. Apartments in Bakersfield, CA: 64-units apartments complex on 3+ ac lot. Close to parks, shopping centers, hospital and Hwy’s. Amenities include: two swimming pools, covered parking, storage units and a large grass courtyard. 93% occupied. Proforma NOI $295K/yr. $3.6M. 8.21% proforma cap.
7. Retail Building in Lake Worth, TX: 3952 SF retail building constructed in 2007 on .53 ac lot at a hard corner location. Near Target, Walmart, Lowes & Hobby Lobby centers.  Close to I-820. 100% leased to Popeye’s and T-Mobile. NOI $189K/yr. %1.9M. 9.98% cap.
8. Walgreen’s in Tucson, AZ: 13,905 SF drive-thru pharmacy built in 2000 on 1.47 ac lot at a signalized corner location in fast growing and high income area with an AHI of $90K/yr in 1 mile. Across from Fry’s Food center. 100% lease with 7 yrs left.  NOI $316K/yr. $4.18M. 7.57% cap.
9. Retail Center in La Mirada, CA: 9225 SF attractive shopping center on .69 ac lot at a high traffic location in densely (465,000 residents in 5 mile) populated and affluent (AHI $105K/yr) Los Angeles suburbs. Shadow-anchored by CVS/24 Hour Fitness. 100%  NNN leased by multiple tenants. NOI $282K/yr. $4.35M. 6.5% Cap.
10. MOB in Fairview Heights, IL: 18,124 SF Class-B medical office building on 1.70 ac lot in growing St Louis suburbs. Close to St Clair Square and I-64. 100% leased. $2.19M. NOI/Cap not provided. 

© Transmercial 2013

03-29: Trader Joe's center, Office building for sale

1. Office Building in Louisville, KY: 60,000 SF class-A office building next to I-71 exit in high income area.  95% leased to 2 tenants: The Galen School of Nursing with 4 locations in 4 states, and Webster University, with 100+ locations around the world. NOI $706K/yr. $8.364M. 8.5% cap. 
2. Shopping Center in Plainfield, IN: 26,807 SF shopping center in fast growing and high income area in Indianapolis suburbs.  Adjacent to 550,000 SF Metropolis Lifestyle Center.  95% leased.  NOI $358K/yr. $4.4M. 8.15% cap.  Buyer to assume $3.74M loan (85% LTV). 
3. Shopping Center in Irving, TX: 29,958 SF mature shopping center directly across from Fiesta Grocery anchored shopping center and Aldi in Dallas metro.  100% NNN leased to 9 tenants with low average rents.  NOI $279K/yr. $3.382M. 8.25% cap. 
4. Retail Center in Arlington, TX: 19,111 SF retail center adjacent to 1.5MM SF 180-store The Park at Arlington Mall.  100% leased to 3 tenants: Car Toys with 50 stores in 4 states, Regency Beauty Institute with locations in 6 states and Uptown Cheapskate with stores in 12 states.  NOI $351K/yr. $4.02M. 8.75% cap. 
5. Shopping Plaza in Everett, WA: 24,800 SF center built in 1985 on 1.63 ac lot near Everett Mall in Seattle metro.  100% NNN leased to 3 national tenants: Trader Joes, Dollar Tree, and Family Christian Store.  NOI $358K/yr. $4.5M. 8% cap.  Note: no state income tax in WA.

© Transmercial 2013

03-28: Lone Star Steakhouse, Advance Auto Parts, Old Country Buffet, Retail Centers for sale

1. Lone Star Steakhouse in Bourbonnais, IL: 5498 SF steakhouse restaurant built in 1996 on 1.58 ac outparcel to Target, Staples, Michaels, and Petsmart center in Chicago suburbs.  Across from 558,000 SF Northfield Square Mall and near I-57.  100% NNN lease with 12 yrs left.  NOI $201K/yr with 2% annual rent increases. $2.124M. 9.50% cap.
2. Office Building in Las Vegas, NV: 22,213 SF Class-B sixteen-suite office building constructed in 1999 on 1.64 ac lot as part of a professional business park. High income area.  71% leased. Current NOI $86K/yr. $1.699M. 5.1% cap. Upside potential when fully leased.
3. Advance Auto Parts in San Antonio, TX: 7056 SF Advance Auto Parts center built in 2007 on .80 ac lot along major retail corridor. Close to Walmart Supercenter. 100% NNN- corp lease with 9+ yrs left. NOI $143K/yr with a 10% rent increase in 2017. $2.1M. 6.84% cap.
4. Retail Center in Tucson, AZ: 10,445 SF retail center built in 2008 on .95 ac lot on a main thoroughfare. Next to Walgreen’s and close to I-10.  100% leased. NOI $163K/yr. $2.1M. 7.78% cap.
5. Old Country Buffet in Denver, CO: 8613 SF buffet restaurant built in 2002 on 1.44 ac lot in the middle of Quebec Square, a 4,700 acre mixed-use development. Close to 1,2000,000 SF Northfield Stapleton and I-270. 10 yrs absolute NNN lease to Old Country Buffet, owned by Buffets, Inc. with 347 locations in 35 states. NOI $264K/yr. $3.3M. 8% cap.
6. Apartments in Carmichael, CA: 73-units well maintained 1&2 bedroom apartment complex on 2+ ac lot in Sacramento suburbs. Close to schools, shopping centers and parks. 95% occupied. NOI $331K/yr. 4.307M. 7.70% cap.
7. Retail Center in Smyrna, GA: 17,045 SF attractive retail center built in 2002 on 1.68 ac lot at a hard corner location in fast growing and high income Atlanta metro. 100% leased with great tenant mix. $2.75M. NOI/Cap not disclosed.
8. Office Building in San Diego, CA: 16,800 SF well maintained office building on ½ ac corner lot. Close to I-805 and Hwy-163. 100% leased. NOI $278K/yr. $3.595M. 7.75% cap.
9. Retail Center in Las Vegas, NV: 15,050 SF retail center built in 2007 on 1.70 ac lot.  Shadow anchored by Walmart Neighborhood Market and next to Walgreens. NOI $283K/yr. $3.663M. 7.75% cap.

© Transmercial 2013

03-27: MOB's, Fresenius, Arby's, Burlington Coat Factory, Chipotle, Aspen Dental for sale

1. MOB in Denton, TX: 5575 SF build-to-suit medical office building built in 2007 on over 1 ac lot in fast growing Dallas/Fort Worth metro. Near 208- bed Denton Regional Medical Center, North Texas Hospital and off ramp I-35E. 100% NNN- lease with 9 yrs left to CareNow, a regional tenant with 23 urgent centers in Dallas/Fort Worth. NOI $224K/yr. $2.695M. 8.32% cap. Buyer to assume $1.975M loan at 6.85% interest rate fixed till 2022.
2. Fresenius Dialysis in Columbia, SC: 6104 SF dialysis center built in 1995 on 1.50 ac lot in a fast growing area. Tenant has been at this location since 2005. Recently exercised 10 yrs NNN- corp lease with 9 yrs left. NOI $108K/yr with a 15.81% rent increase in year 5. $1.442M. 7.50% cap.
3. Retail Center in Cheektowaga, NY: 5607 SF retail center built in 2010 at a major commercial artery in Buffalo suburbs. Across from Target and Home Depot center, near Walden Galleria and I-90. 100% NNN- corp leased to Aspen Dental and Chipotle Restaurant. NOI $197K/yr. $2.465M. 8% cap.
4. MOB in Sacramento, CA: 19,455 SF Class-A medical office building completed in 2007 on 1.46 ac lot on campus of 333-bed Methodist Hospital of Sacramento.  Adjacent to436-bed Kaiser Permanente Medical Center, a level-II trauma center and next to Hwy-99. 100% leased to 8 tenants, 7 of them medical. NOI $464K/yr. $6.198M. 7.50% cap.
5. Strip Center in Indianapolis, IN: 17,126 SF well maintained retail center at a hard corner location in densely populated area. 100% leased to T-Mobile, Ace Beauty, Big City Grill, Art Nails, Hang Time, Mr. Bigz and China King. NOI $262K/yr. $3M. 8.74% cap.
6. Retail Center in Richland, WA: 12,000 SF retail center built in 2008 on 1+ ac lot at a hard corner location in high income area. Across from Target, Walmart Supercenter and The Home Depot. Close to I-182. 85% NNN leased. NOI $200K/yr. $2.7M. 7.43% cap. Upside potential when fully leased.
7. MOB in Tucson, AZ: 12,923 SF Class-A medical office building on .48 ac lot part of a professional & medical office complex. 72% leased to multiple tenants. NOI $182K/yr. $2.5M. 7.30% cap.
8. Burlington Coat Factory in Plainfield, IN: 70,000 SF recently constructed single tenant retail building  adjacent to 550,000 SF Metropolis Mall  in growing and high income (AHI $81K/yr in 3 mile)  Indianapolis suburbs. 100% NNN lease with 10 yrs left. NOI $500K/yr with a rent increase in 2018. $6.5M. 7.70% cap.
9. Arby’s in Tracy, CA: 2111 SF established Arby’s restaurant on .68 ac lot with excellent visibility in fast growing community East of Silicon Valley. Close to I-205. NOI $57K/yr. $895M. 6.43% cap.
10. MOB in Fort Worth, TX: 13,154 SF Class-A consisting of three medical office buildings completed in 2009 on nearly 4 ac lot in fast growing area. Close to I-820. 91% NNN leased. NOI $251K/yr. $2.875M. 8.75% cap.

© Transmercial 2013

03-26: Ichiban Hibachi & Sushi Buffet, Sam's Club, MOB, Office Buildings, Neighborhood Centers for sale

1. Retail Building in Erie, PA: 4,800 SF retail building constructed in 2007 on .72 ac lot at major retail artery and close to I-90. 100% NNN leased to T-Mobile and The Exchange. NOI $142K/yr. $1.68M. 8.47% cap.
2. Shopping Center in Parker, CO: 21,440 SF high quality construction shopping center built in 2008/2009 on 2.36 ac corner lot in affluent (AHI $113K/yr) Denver suburbs.  100% NNN leased to nine tenants.  NOI $446K/yr. $5.96M. 7.50% cap.
3. Ichiban Hibachi & Sushi Buffet in Charlotte, NC: 9667 SF 4 star-rated Japanese Buffet Restaurant renovated in 2011 on nearly 2 ac lot at a signalized corner location. Surrounded by several hotels and near I-85. 100% NNN leased with 8 yrs left. NOI $89K/yr with 3% annual rent increases. $1.119M. 8% cap.
4. Sam’s Club in Citrus Heights, CA: 113,298 SF big box retail building constructed in 2003 on 13 acres of land in fast growing Sacramento suburbs. Long absolute NNN ground lease (sale of land only)) occupied by national tenant with 13 yrs left. NOI $950K/yr. $16.815M. 5.65% cap.
5. Shopping Center in Fredericksburg, VA: 61, 774 SF well maintained shopping center on 4.60 ac lot anchored by Food Lion and Rite Aid in fast growing and high income (AHI $87K/yr) area. Excellent visibility, great ingress/egress and along Hwy-3.  84% leased to regional and local tenants. NOI $456K/yr. $5.7M. 8% cap.
6. Office Building in Carmichael, CA: 12,840 SF well kept office building on .93 ac lot in upper middle class Sacramento suburbs. 80% leased to multiple tenants. NOI $62K/yr. $775K. 8.02% cap. Upside potential.
7. Shopping Center in Lake Elsinore, CA: 62,294 SF recently remodeled neighborhood center on 4.37 ac lot with big monument signage in fast growing (pop growth 82.41% since 2000) area. Anchored by Cardenas Market, a regional supermarkets chain.  Across from Big Lots and Starter Bros grocery center. Close to I-15. 90% leased. NOI $916K/yr. $14.1M. 6.50% cap.
8. Shopping Center in Fircrest, WA: 26,600 SF attractive modern-looking shopping/office center built in 2005 on 1.83 ac lot at a signalized corner location in growing Tacoma suburbs. 91% leased. NOI $337K/yr. $4.1M. 8.22% cap.
9. Office Building in Mission Hills, CA: 37,066 SF Class-B office building on over 1 ac corner lot in high-income, densely populated Los Angeles county with over 650K residents in 5 miles. Close to I-405 exit. 88% leased. NOI $467K/yr. $5.45M. 8.58% cap. Buyer to assume $3.459M loan at 5.18% interest rate. Upside potential when fully leased.
10. MOB in New Berlin, WI: 25,465 SF Class-A medical office building on nearly 2 ac lot in high income (AHI $93K/yr in 3 mile radius) Milwaukee suburbs. 86% leased. NOI $45K/yr. $5.7M. 8% cap.

© Transmercial 2013