08-23: Dollar General, Family Dollar, Burlington Coat Factory, hhgregg, Retail Buildings

Below are the most commonly used acronyms:

• AHI: Avg. Household Income.  National average is about $55+K/yr.
• NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.
• NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.
• NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1. Retail Center in Katy, TX: 17,034 SF retail center built in 2007 on nearly 2 ac lot in fast growing and affluent (AHI $154K/yr in 1 mile) Houston suburbs. 100% NNN leased to eight tenants. $4.12M. 8% cap.
2. Dollar General (S&P BBB-) in Cape Coral, FL: 11,700 SF newly constructed retail store at a signalized corner location in Fort Myers metro. Next to 7-Eleven.  15 yrs NNN- lease. NOI $171K/yr with 10% rent increase in yr 10. $2.56M. 6.75% cap.
3. Retail Building in Saint Petersburg, FL: 6335 SF attractive recently renovated retail building on .70 ac lot at a hard corner location. 100% NN lased to Sprint and The Sleep Oasis, a local multi-store mattress retailer. NOI $106K/yr. $1.325M. 8% cap.
4. Family Dollar in Grand Prairie, TX: 8808 SF Family Dollar store on .75 ac under construction & adjacent to Kroger grocery center. Off/on Hwy-161. 100% NNN lease with rent commencement scheduled for Nov 2013. NOI $113K/yr. $1.571M. 7.25% cap.
5. Retail Center in Lubbock, TX: 21,560 SF attractive retail center in growing (31.61% pop growth since 2000) and affluent area with an AHI of $117/yr in 1 mile. Adjacent to Covenant Medical Park. 100% NNN leased. NOI $364K/yr. $4.55M. 8% cap.
6. Retail Center in Long Beach, CA: 7296 SF six-unit retail center completed in 2006 at a signalized corner location in densely populated Los Angeles area. Close to I-710. Credit tenants include: Subway, Game Stop and Metro PCS. 100% NNN leased. NOI $225K/yr. $3.85M. 5.90% cap.
7. Big Box Retail Building in Port Richey, FL: 91,000 SF recently re-developed big box retail building on 8.40 ac lot in Tampa coastal town. Adjacent to Gulf View Square Mall. Next to Hwy-19. 100% NNN corp leased to Burlington Coat Factory and hhgregg (a regional home appliances and consumer electronic retailer with stores in 18 states). NOI $833K/yr. $9.8M. 8.50% cap.
8. Retail Center in Denver, CO: 10,999 SF well kept retail center at a hard corner location. Anchored by 13-bay Nebraskaland-Coloradoland-Kansasland Tire, with over 40 locations. Easy access to I-25/270. 100% leased. NOI $96K/yr. $1.2M. 8% cap.

© Transmercial 2013

08-22: Office Buildings, Apartments, Professional & Medical Park

1. Medical Office Building in Schaumburg, IL: 18,100 SF 3-story Class-B office building on .64 ac lot at a signalized corner location in high income (AHI $102K/yr in 1 mile) Chicago metro. Close to I-290. 100% leased to mostly medical tenants. NOI $207K/yr. $2.45M. 8.50% cap.
2. Apartments in Fairfield, CA: 92-unit gated multifamily complex in Northern California. Close to schools, parks, shopping centers and public transportation. NOI $494K/yr. $6.599M. 7.50% cap.
3. Medical Office Building in Sacramento, CA: 8164 SF well maintained office building on .71 ac lot at a hard corner location. Across from Kaiser Permanente-S Sacramento and close to Hwy-99. 74% leased to Dignity Health Corp, a healthcare provider with hospitals and ancillary care facilities in 17 states. NOI $84K/yr. $1.6M. 5.25% cap. Upside potential.
4. Professional & Medical Park in Turlock, CA: 38,997 SF Class-B business park consisting of nine buildings on 4.80 ac lot along major retail corridor in growing town. 93% leased. NOI $360K/yr. $5.25M. 6.87% cap.
5. Shopping Center in Ormond Beach, FL: 76,370 SF shopping center at a hard corner location just North of Daytona Beach. Strong anchor tenants include Big Lots, Tuesday Morning and Aaron's. NOI $522K/yr. $6.5M. 8.04% cap.
6. Shopping Center in Daytona Beach, FL: 24,500 SF shopping center at major corridor. ¼ mile from Daytona International Speedway. Close to Daytona Beach International Airport and I-95. NOI $462K/yr. $5.75M. 8.04% cap.
7. Retail Center in Fayetteville, GA: 24,600 SF attractive retail center built in 2005 on 3 ac lot in high income Atlanta suburbs with an AHI of $89K/yr in 5 mile radius. All units face Hwy-92. 100% leased to credit, regional and local tenants. NOI $390K/yr. $4.725M. 8.27% cap. 

© Transmercial 2013

08-21: Retail center Portfolio, Surgery Center, FedEx Office, MOB, Retail Centers

1. Retail Center in Chattanooga, TN: 14,482 SF retail center and 6,000 SF Chilli’s Restaurant on a ground lease (only land for Chilli’s is for sale) built in 2007 at a corner location. Adjacent to 1,200,000 SF Hamilton Place Mall. Close to Erlanger Women’s East Hospital and I-75. NOI $422K/yr. $5.35M. 7.9% cap.
2. Walmart shadow-anchored Portfolio in Various Cities in OH: 121,970 SF consisting of seven retail buildings completed between 2003-2007. National tenants include: CATO, Rent-A-Center, Sherwin Williams, Game Stop and Radio Shack. Shadow-anchored by Super Walmart. 100% NNN leased. NOI $1.712M. $20.15M. 8.50% cap.
3. Shopping Center in Yuba City, CA: 20,093 SF well maintained shopping center on 2+ ac corner location. In growing and upper middle-class city just North of Sacramento. 81% leased with excellent tenant mix. Current NOI $164K/yr. $2.25M. 7.30% cap.
4. Surgery Center in Rancho Cucamonga, CA: 3106 SF Class-A medical condo in high income (AHI $90K/yr) San Bernardino County. Across from Rancho San Antonio Medical Plaza. 10 yrs NNN lease. NOI $80K/yr. $1.257M. 6.43% cap.
5. Shopping Center in Blue Springs, MO: 87,534 SF attractive shopping center built in 2001 on nearly 19 acres of land in growing Kansas City suburbs. Close to St Mary’s Medical Center and I-70. 87% NNN leased. 8.10% cap. NOI/Price Not Disclosed.
6. Retail Center in Tampa, FL: 18,883 SF well kept L-shaped retail center on almost 2 ac lot along Hwy-576. 84% leased with only 3 vacancies. NOI $190K/yr. $1.9M. 10% cap.
7. FedEx Office in Syracuse, NY: 6000 SF single-tenant retail building constructed in 1999 on .54 ac lot in densely populated area. Off/on ramp of I-690. Extended 10 yrs NNN- corp lease with 6 yrs left. NOI $102K/yr. $1.343M. 7.65% cap.
8. Office & Medical Center in Glenview, IL: 37,500 SF consisting of four medical & office buildings in high income Chicago suburbs with an AHI of $99K/yr in 5 mile radius. 83% NNN leased. NOI $282K/yr. $3M. 9.42% cap.
9. Shopping Center in Orlando, FL: 75,701 SF shopping center renovated in 2007. Close to Festival Bay Mall, Mall at Millennia and I-4. NOI $482K/yr. $6M. 8.04% cap.
10. Retail Center in Homestead, FL: 11,776 SF retail center at a signalized corner location in Miami suburbs. 100% leased. NOI $230K/yr. $2.88M. 8% cap.

© Transmercial 2013

08-20: Oil Changers, Office Buildings, MOB, Strip Centers, Retail Centers

1. Retail Center in Tampa, FL: 12,655 SF attractive retail center built in 1997 on 1.32 ac lot at a hard corner location and in high income area. Across from Target and Publix. 100% NNN leased to mostly national tenants. NOI $231K/yr. $3.225M. 7.19% cap.
2. Medical Office Building in Palm Harbor, FL: 26,070 SF well maintained 3-story medical office building completed in 1993 on 1.43 ac lot. 100% leased by All Children’s Outpatient Center, a clinical facility that provides pediatric rehabilitation services. NOI $537K/yr. $5.65M. 9.51% cap.
3. Retail Center in Cameron Park, CA: 10,437 SF retail center built in 2005 on 1.54 ac outparcel to Food 4 Less in fast growing and high income (AHI $92K/yr) Sacramento suburbs. Along Hwy-50.  86% NNN leased to 4 tenants. Pro forma NOI $238K/yr. $2.925M. 8.15% pro forma cap. Buyer to assume $2.226M loan at 6.12% interest rate.
4. Oil Changers in Oakland, CA: 2262 SF well maintained Oil Changers at a signalized corner location. Next to and visible from I-980.  100% absolute NNN corp lease with 10 yrs left.  NOI $60K/yr with rent increases every 3 yrs. $1.06M. 5.75% cap.
5. Strip Center in Clermont, FL: 7915 SF attractive strip center on .93 ac outparcel to Lowe’s at a major retail artery. Across from Home Depot center and close to South Lake Hospital. 100% NNN leased to three tenants. NOI $207K/yr. $2.55M. 8.12% cap.
6. Office Building in Madison, WI: 31,500 SF Class-B office building completed in 1995 on nearly 2 ac lot in upper middle-class area. Close to Hwy-12/14. 97% leased to local & regional credit tenants. NOI $231K/yr. $3.3M. 7.15% cap.
7. MOB in Baldwin Park, CA: 5743 SF Class-B medical office building in densely populated Los Angeles area. NOI $100K/yr. $1.25M. 7.80% cap.
8. MOB in Las Vegas, NV: 19,394 SF Class B medical office building at a hard corner location and in high income area. Across from Albertson’s & CVS center. Close to Mountain View Hospital and Hwy-95. 85% leased to multiple tenants. NOI $198K/yr. $2.72M. 7.28% cap.
9. Strip Center in Broadview, IL: 5560 SF strip center at a hard corner location in Chicago metro. Across from Target &Home Depot center. 100% leased to Starbucks, Advance America, Pizza Hut and T-Mobile. NOI $155K/yr. Price/Cap not disclosed.
10. MOB in Lakeland, FL: 12,000 SF Class-A medical office building on 1.40 ac lot in high income Tampa suburbs with an AHI of $100K/yr in 1 mile. 71% NNN leased to multiple tenants. NOI $231K/yr. $2.65M. 8.75% cap. 

© Transmercial 2013

08-19: Burger King, Big Lots, Gold's Gym, MOB, Office Building

Below are the most commonly used acronyms:

• AHI: Avg. Household Income.  National average is about $55+K/yr.
• NOI: Net Operating Income.  It’s the income after all expenses (prop taxes, ins., maintenance) paid.
• NNN: Triple net lease in which tenants pay taxes, insurance and maintenance expenses.
• NNN-: Triple net lease with landlord responsible for roof and structure.  Used by Transmercial only.

1. Burger King in Aurora, IL: 2853 SF Burger King restaurant built in 2001 on .83 ac lot in Chicago metro.  20 yrs absolute NNN lease with 12 yrs left to a franchisee with 28 units.  NOI $84K/yr with 1.25% annual rent bumps.  $1.205M. 7% cap.
2. Big Lots in Jackson, MS: 32,772 SF recently renovated big box retail building on 2.67 ac lot adjacent to Northpark Mall. Close to I-55. Surrounded by Walgreens, Office Depot, Lowes, Sams Club, Walmart, Old Navy and more.  New 10 yrs NNN- corp lease. NOI $245K/yr with 10% rent increase in 2019. $3.39M. 7.25% cap.
3. Retail Buildings in Cedar Rapids, IA: 17,127 SF two renovated retail buildings on 1.75 ac lot along major corridor. Across from Lindale Mall. 93% NNN leased to Noodles Restaurant, US Cellular and Broadcast Interactive Media. NOI $193K/yr. $2.35M. 8.25% cap.
4. Gold’s Gym in Humble, TX: 25,000 SF Gold’s Gym built in 2012 on nearly 2 ac lot in affluent Houston suburbs with an AHI of $117/yr in 1 mile. Along Beltway 8. 100% NNN lease with 10+ yrs left. NOI $400K/yr with rental increases. $4.706M. 8.50% cap.
5. Shopping Center in Tuscaloosa, AL: 57,850 SF shopping center built in 1991 on 6 ac lot anchored by Winn Dixie and Rite Aid in growing middle-class area. 98% NNN leased. NOI $427K/yr. $5.2M. 8.23% cap.
6. MOB in Columbus, OH: 12,996 SF Class-A medical office building on .84 ac lot in high income (AHI $87K/yr) area. 100% NNN lease with 7 yrs left to Mount Carmel Health System, the 2^nd largest health care system in Columbus with over 1,500 physicians, 3 hospitals and a surgical center. NOI $202K/yr. $2.695M. 7.50% cap.
7. Retail Center in Memphis, TN: 14,502 SF well maintained retail center on 1.61 ac lot at a busy corridor. All units face main corridor. Close to Hickory Ridge Mall. 100% NNN leased with 50% leased to medical tenants. NOI $143K/yr. $1.595M. 9% cap.
8. Strip Center in Escondido, CA: 6605 SF mature strip center at a corner location in San Diego suburbs. 100% NNN leased to six tenants. NOI $90K/yr. $1.205M. 7.50% cap.
9. Retail Center in Cypress, TX: 17,070 SF attractive retail center built in 2003 on 1.68 ac lot at a major retail corridor in affluent (AHI $125K/yr in 3 mile) Houston suburbs. Close to Fwy-290/6. 100% leased with excellent tenant mix. NOI $404K/yr. $5.775M.  7% cap.
10. Office Building in Woodbridge, IL: 50,242 SF Class-B office building completed in 2000 on 3.90 ac lot in high income (AHI $123K/yr) Chicago suburbs. 100% NNN leased to seven tenants. NOI $568K/yr. $6.53M. 8.70% cap.

© Transmercial 2013