10-06: Office Building, Rite Aid, Olive Garden, Shopping centers, Apartments

1. Office Building in Northfield, IL: 13,182 SF high-quality construction office building completed in 1996.  Easy access to I-94 & in very affluent Chicago metro (AHI $214K/yr in 1 mile!).  100% leased to 4 tenants.  NOI $168K/yr. $2.02M. 8.35% cap. 
2. Rite Aid in Reading, MA: 13,611 SF drug store built in 1997 on 1.5 acres lot in affluent Boston suburbs (AHI $99K/yr).  20 yrs absolute NNN lease with 18 yrs remaining.  NOI $301K/yr. with 10% rent bump in 2018.  $3.469M. 8.7% cap. 
3. Olive Garden in Taunton, MA: 7497 SF beautiful Olive Garden Italian restaurant built in 2005 on over 1 ac outparcel to a TJ MAXX, Home Depot, Smokey Barnes, and Target in Boston/Providence suburbs.  15 yrs NNN corp ground lease (land is for sale, tenant owns the building) with 9 yrs remaining.  Store with strong over $3M in sales.  NOI $136K/yr.  $1.951M. 7% cap. 
4. Shopping/Office Center in Salt Lake City, UT: 42,670 SF 21-unit retail & office center on 2.92 acres lot in growing area.  Extensively remodeled in 2008 with stucco and stone façade at a cost of $1.5M.  44% leased.  Current NOI $269M.  $2.75M.  9.8% actual cap.  Strong upside potential when fully lease.  This property MUST be purchase with 2.87 acres vacant lot adjacent to the property for additional $1.25M.  Total $4M. 
5. Strip Center in Schertz, TX: 12,000 SF strip center built in 2006 on 1.58 acres outparcel to a Wal-Mart in fast growing and high income San Antonio suburbs. Next to I-35 exit.  100% NNN leased to 5 tenants.  NOI $192K/yr.  $2.6M. 7.41% cap. 
6. Office Building in Belleview, WA: 52,376 SF single-tenant office building on 2.69 acres lot in prestigious & affluent (AHI 111K/yr) area in heart of Seattle.  100% NNN leased to LexisNexis with 6 yrs remaining.  NOI $1.25M. $16.25M. 7.7% cap. 
7. Shopping Center in Fort Worth, TX: 181,151 SF shopping center on 12.86 acres lot with several national/regional tenants: Joanne Fabrics, Chili’s, Guitar Center, Tuesday Morning, and Men’s Warehouse.  NOI $808K/yr. $9M. 9% cap. 
8. Bank Owned Apartments in Houston, TX: 250-unit apartments in 13 2&3 story buildings built in 2000 on 23 acres lot in one of Houston’s premier school district.  94% occupied.  NOI N/A.  Price: just make offer. 
9. Retail Center in Albuquerque, NM: 22,616 SF 11-unit retail center on 2.64 acres lot.  Shadow anchored by Big Lots!  96% leased.  NOI $310K/yr. $3.45M. 9% cap.

© Transmercial 2011

10-05: Chase Bank, LA Fitness, Shopping Centers

Welcome new investors.  Each property has a brief description and a flyer (attached).  Previous lists are posted on Transmercial’s blog after 2 weeks delay. Please click here to see how Transmercial selects the following properties among 300-400 properties between $700K-$20M on the market today (please advise if you are interested in properties above $20M).  Underlined names if any indicate safe hyperlinks that you can click for more info.

For a full marketing brochure, please forward the email to maria@transmercial.com and specify the property number.  We may ask you for feedback later for the listing broker.  If so, please cooperate.

• AHI: Avg. Household Income.  National average is about $50+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.  Shopping Center in Ridgeland, MS: 16,075 SF shopping center on busy Hwy-51 and near I-55 in well-off (AHI $84K/yr) Jackson suburbs. NOI $160K/yr. $1.65M. 9.7% cap.  
2. Strip Center in San Diego, CA: 5000 SF strip center anchored by 7-Eleven in densely populated area. 100% NN leased. NOI $121K/yr. $1.715M. 7% cap.  
3. Chase Bank in Altamonte Springs, FL: 3578 SF single-tenant building on .58 ac lot at a signalized intersection and with multiple points of access in Orlando suburbs.  Shadow anchored by a Publix supermarket. NNN corp lease till 2022. NOI $196K/yr with a 9.65% increase in 2013. $3M. 6.56% cap. 
4. Shopping Center in Pensacola, FL: 49,768 SF 4-yrs old shopping center on 9.20 acres of land across from The Home Depot/Wal-Mart. 100% NNN leased with 3 national tenants: Office Depot, Ross and Chili’s (Chili’s Restaurant is on Ground Lease). NOI $434K/yr. $5.83M. 7.45% cap. 
5. Retail Center in Leander, TX: 9600 SF retail center built in 2006 on 1.50 ac lot in Austin metro. Excellent tenant mix: Subway, Super Donuts, Z’s Hair Salon, Marco’s Pizza and Anytime Fitness. 100% NNN leased. NOI $158K/yr. $1.75M. 9.05% cap. 
6. Shopping Center in Covington, WA: 73,169 SF neighborhood center on 7.92 ac lot anchored by Big 5 Sporting Goods and Big Lots.  In a retail corridor across from Wal-Mart. 97% leased. 7% cap. Price not disclosed.  
7. LA Fitness in Covington, WA: 45,000 SF fitness center on 3.99 ac lot at retail thoroughfare and near Hwy-18 in Tacoma metro. 100% leased. $7.6% Cap. Price not disclosed.  
8. Shopping Center in Tucson, AZ: 59,494 SF shopping center on 4.84 ac lot at a busy retail corridor and near I-10. Major renovation in 2003. 100% NNN leased. NOI $695K/yr. $7.85M. 8.86% cap. Buyer to assume  $5.901M loan at 5.85% rate.  
9. Shopping Center in Schaumburg, IL: 21,964 SF renovated shopping center as a corner location. 100% NNN leased with strong mix of local/stable tenants. NOI $337K/yr. $4.1M. 8.22% cap.

© Transmercial 2011

10-04: Shopping centers, Medical Office Building

1. Shopping Center in Woodland, CA: 22,400 SF seven-tenant shopping center a busy signalized intersection Northwest of Sacramento and close to I-5. 94% leased. NOI $96K/yr. $1.29M. 7.5% cap.  
2. Shopping Center in Glenview, IL: 36,597 SF 9-unit shopping center built in 2005 on 3.28 ac lot in very affluent (AHI $127K/yr) Chicago suburbs. .  Anchored by Staples and next to Trader Joe’s and Walgreen’s. 100% NNN leased.  NOI $740K/yr. $8M. 9.25% cap.  
3. Shopping Center in Miami Gardens, FL: 93,991 SF well-maintained shopping center built in 1991 on 10.19 acres lot in Miami metro. Anchored by Winn-Dixie supermarket. 93% leased. NOI $876K/yr. $10.95M. 8% cap. 
4. Shopping Center in Arlington, TX: 62,676 SF shopping center on 5.5 acres lot in high income Dallas metro (AHI $77K/yr in 1 mile).  Anchored by Kroger Supermarket and Family Dollar.  93% leased.  NOI $420K/yr. $5.25M. 8% cap. 
5. Medical Office Building in Joliet, IL: 12,070 SF 5-yrs old medical building on 1.50 ac lot in fast growing & middle-class area in Chicago metro. 100% leased to 5 medical tenants: OB, Fertility Clinic, Sleep lab, Ophthalmologist, and General practice. NOI $236K/yr. $2.41M. 10.25% cap. 
6. Shopping Plaza in Littleton, CO: 33,947 SF shopping plaza in affluent Denver suburbs (AHI $98K/yr in 3 miles). 100% leased.  NOI $353K/yr. $4.3M. 8.2% cap.

© Copyright Transmercial 2011.

10-03: Kublai Kahn Restaurant, Rite Aid, Medical Buildings, Retail Centers

1.     Kublai Kahn Restaurant in Austin, TX: 3689 SF Mongolian Restaurant built in 2004 outparcel to power center anchored by Super Target, Office Max, Best Buy, Toys ‘R’ Us, Ross and Hobby Lobby . Excellent visibility from I-35.  Long NNN lease till 2021. NOI $73K/yr with a rent increase in 2017. $970K. 7.6% cap.

2.     Rite Aid in Douglasville, GA: 11,275 SF newly constructed pharmacy on 1.92 ac lot along Hwy-5 in Atlanta metro. Well-performing store with over $10M in sales revenue. 20-year absolute NNN corp lease. NOI $270K/yr with 10% rent increases every 10-yrs. $2.95M. 9.16% cap.

3.     Medical Office Building in Joliet, IL: 12,070 SF 5-yrs old medical building on 1.50 ac lot with strong/long term tenants in Chicago metro. 100% NNN leased. NOI $236K/yr. $2.41M. 10.25% cap.

4.     Retail Center in Phoenix, AZ: 10,080 SF retail center built in 1999 on 1.35 ac lot at a signalized corner location next to I-17. With excellent tenant mix: FedEx Kinko’s, George’s Famous Gyros and Pizza Hut. 100% NNN leased. NOI $201K/yr. $2.7M. 9.75% cap.

5.     Strip Center in Bakersfield, CA: 7450 SF well-maintained strip center shadow-anchored by Albertsons and DD’s and close to Hwy-178. 100% NNN leased. NOI $172K/yr. $2.25M. 7.66%  cap.

6.     Office Building in Littleton, CO: 20,034 SF two-story attractive multi-tenant office building constructed in 2002 on 1.1 ac lot in growing & affluent Denver’s suburbs (AHI $96K/yr). 100% leased. NOI $274K/yr. $3.425M. 8.02% cap.

7.     Office Buildings in Fresno, CA: 8818 SF newly constructed office building on .9 ac lot close to St. Agnes Medical Center and in high income area. 100% NNN leased. NOI $176K/yr. $2.2M. 8% cap.

© Transmercial 2011

09-30: Medical Office Buildings, Goodyear, Retail Plaza

1. Medical Office Condos in Lady Lake, FL: 4995 SF 2-tenant class-A medical office building in a fast growing inland city 30 minutes from Orlando. 100% NNN leased to FL Cancer Institute with 8 locations and Family doctors.  NOI $129K/yr with 4% annual rent bump.  $1.613M. 8% cap. 
2. Goodyear Auto in Saint Augustine, FL: 6684 SF auto repair center built in 2006.  100% NNN- corp lease.  NOI $160K/yr.  $1.773M. 9% cap. 
3. Medical Office building in Apple Valley, MN: 8445 SF 2-story single-tenant medical office building completed in 1990 in upper middle class Saint Paul metro (AHI $94K/yr.)  100% NNN- lease to Orthodontic Care Specialists with 20 locations.  NOI $153K/yr. with 2.5% rent bump every 2 yrs.  Tenant has been here for 10 yrs and just renewed lease for 5 more yrs.  $1.7M. 9% cap. 
4. Shopping Center in Schaumburg, IL: 59,256 SF shopping center built in 1999 in high income Chicago suburbs.  100% leased to 19 tenants.  NOI $821K/yr. $10.9M. 7.54% cap. 
5. Shopping Plaza in Homestead, FL: 35,723 SF 4 yrs old retail plaza in fast growing South Miami suburbs.  90% leased.  NOI $480K/yr. $6M. 8% cap.

© Transmercial 2011.

09-29: Pizza Hut, Family Dollar, Best Buy, Just Brakes, Mini Skool, John Deere Dealer

1. Pizza Hut in Warwick, RI: 2751 SF restaurant on .6 ac lot in middle class town.  New 15 yrs NNN lease at closing to a franchisee with 22 stores.  NOI $50K/yr with 10% rent increase every 5 yrs.  $714K.  7% cap.  Store with strong sales revenue of almost $1M/yr.  (low rent to income ratio of 5%)  Ideal for 1^st time investor. 
2. Family Dollar Store in North Richland Hills, TX: 8000 SF new Family Dollar store in fast growing & middle class Dallas metro.  New 10 yrs NNN- lease.  NOI $109K/yr. $1.367M. 8% cap. 
3. Best Buy in Visalia, CA: 30,000 SF Best Buy built in 2003 as part of a regional shopping center anchored by Target, Lowes, Petsmart and Sport Chalet in fast growing  & high income city in Central CA. 15 yrs NNN lease with 7 yrs left.  NOI $459K/yr with 7% rent bump every 5 yrs. $6.557M. 7% cap. 
4. Just Brakes in Stockbridge, GA: 1800 SF auto repair center on .47 ac lot on a major artery in Atlanta metro.  100% NNN leased to Just Brakes, a regional tenant with 160 stores.  NOI $80K/yr. $875K. 9.22% cap. 
5. John Deere Dealer in Dacula, GA: 19,696 SF retail center built in 2006 on 2.94 acres lot in fast growing and high income North Atlanta suburbs.  10 yrs NNN- with 5 yrs left to  Green South Equipment, a 37 yrs old John Deere dealer company with 13 locations in GA, FL and SC.  NOI $162K/yr. with 2% annual rent bump.  $1.625M. 10% cap.
6. Phoenix Children’s Academy in Surprise, AZ: 10,200 SF childcare center built in 2009 on 1.5 acres in booming Phoenix suburbs (293% since 2000). 10 yrs NNN lease till 2016 with guaranty by Mini-Skool, a regional tenant with 100 centers. $2.531M. 9.25% cap.

© Transmercial 2011

09-28: Retail Centers, Del Taco, 24-hr Fitness, Davita, Jack in the Box

For a full marketing brochure, please forward the email to maria@transmercial.com and specify the property number.  We may ask you for feedback later for the listing broker.  If so, please cooperate.

• AHI: Avg. Household Income.  National average is about $50+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 Ocoee, FL: 51,160 SF retail center renovated in 2008 on 7.22 ac lot in growing & high income Orlando suburbs. Anchored by 47,634 SF LA Fitness center with 15 yrs lease (12 yrs left).  NOI $804K/yr. $9.224M. 9% cap. 
2. Shopping center on Puyallup, WA: 142,002 SF shopping center built in 1995 on 11 acres prime commercial lot in fast growing & middle class Seattle suburbs.  Directly across from the one million square foot South Hill Regional Mall. 100% leased to 4 tenants: Big! Lots, Sportsman Warehouse, Petsmart and Office Depot (Office Depot will vacate in Dec 2011).  NOI $1.53M.  $18.5M.  8.25% cap.  Appraised at $25M. 
3. Del Taco in Aurora, CO: 2491 SF restaurant built in 2005 on .95 ac outparcel to Walmart, Home Depot, Best Buy, and BBB in Denver metro.  Excellent demographics with AHI $90K/yr in 1 mile.  100% NNN leased till 2025 to an operator with 8 stores.  NOI $145K/yr with 5% rent bump every 5 yrs.  $1.717M. 8.5% cap. 
4. Shopping Center in Sacramento, CA: 118,619 SF 16-unit mature shopping center on 9.12 acres parcel with 6 points of access from 3 frontages.  Anchored by Big! Lots, dd discount (owned by Ross), and Fresh & Easy Neighborhood market.  100% leased.  NOI $1.422M. $17,785M. 8% cap. 
5. 24-Hour Fitness Center in Huntington Beach, CA: 30,070 SF 24-Hour Fitness Center on 2.59 acres lot on a major artery in a densely-populated (370K residents in 5 miles) & affluent coastal city in Southern CA with AHI of $112K/yr.  Area with high barrier to entry.  100% NNN corp lease with 3 yrs left with rent about 15% below market.  NOI $587K/yr. $6.912M. 8.5% cap. 
6. Davita Dialysis in El Paso, TX: 7500 SF brand new Davita in fast growing (160% since 2000) and high income (AHI $63K/yr in 1 mile).  New 15 yrs NNN-.  NOI $161K/yr.  with 10% rent bump every 5 yrs.  $2.1M.   $7.5% cap. 
7. Medical Office Building in Live Oak, TX: 9000 SF medical office building completed in 2010 on 1.37 acres lot near I-35  in San Antonio metro.  100% NNN- leased to 2 medical tenants, both with 10 yrs lease: Davita Dialysis, and San Antonio Kidney Disease Center.  NOI $207K/yr. $2.76M. 7.5% cap. 
8. Jack In the Box in Happy Valley, OR: 2500 SF JIB restaurant with high-quality construction on .48 acre lot in fast growing (50% since 2000) & affluent Portland suburbs (AHI 96K/y in 1 mile).  New 20 yrs absolute NNN to a seasoned franchisee with 64 locations.  NOI $140K/yr. with 1% annual rent bump. $2.15M. 6.5% cap.

© Transmercial 2011.