06-07: Dollar General, Burlington, Hobby Lobby, Walgreens, MRI, Taco Bell, Fresenius Dialysis, Rite Aid, Auto Center

1. Dollar General (S&P BBB-) in Cape Coral, FL: brand new 12,600 SF retail store at a signalized corner location in Fort Myers metro. High quality construction.  15 yrs NNN corp lease. NOI $142K/yr with 10% rent increase in yr 11. $1.9M. 7.50% cap.
2. Burlington Coat Factory in Elk Grove, CA: 77,874 SF single tenant retail in a power center with Toys ‘R Us, Ralley’s, Ross Dress for Less, Jo-Ann Fabrics and Sport Chalet. Next to Hwy-99 ramp in well-off Sacramento suburbs. 100% NNN- corp lease (S&P B-) with 9 yrs left. NOI $603K/yr. with $0.25/SF rent increases every 5 yrs.. Price: Best Offer.
3. Hobby Lobby in Morgan Hill, CA: 77,185 SF big box retail building on 6.89 acres of land adjacent Cochrane Plaza: a 257,537 SF center anchored by Wal-Mart and Big 5 Sporting Goods and next to Hwy-101 in Silicon Valley suburbs. Great demographics with AHI exceeding $121K/yr. within 1 mile. NOI $385K/yr. 100% NNN leased with 10+ yrs left to  Hobby Lobby (S&P BBB-)with 502 stores in 41 states and $2.28B in revenue. Price: Best Offer.
4. Retail Center in Crete, IL: 10,200 SF retail center on 1.25 ac lot in affluent (AHI $116K/yr) Chicago suburbs. 100% NNN leased to established tenants. NOI $130K/yr.  Reduced to $1.295M. 10.10% cap.
5. MOB in Fairview, NJ: 5526 SF Class-B office building at busy corridor in upper middle-class in New York metro with over 1.7M residents in 5 miles. 15 yrs absolute NNN lease to Open MRI of Fairview. NOI $116Kyr. With 2% annual rent increases. $1.365M. 8.50% cap.
6. Walgreens in Franklin Park, IL: 15,120 SF Walgreens built in 2001 on 1.57 ac lot at a hard corner location in Chicago metro with over 450K residents within 5 miles. Extraordinary store sales.100% NNN- corp lease with 9+ yrs left. NOI $415K/yr. $5.535M. 7.50% cap.
7. Taco Bell in Calumet City, IL: 3000 SF Taco Bell restaurant on .93 ac lot across River Oaks Shopping Center and near I-94. 100% absolute NNN ground lease (land is for sale) to strong franchisee. NOI $60K/yr. $1.008M. 6% cap.
8. Fresenius Dialysis Center in Fort Worth, TX: 9000 SF Class-B dialysis center in fast growing area. 100% NNN lease with 8 yrs left. NOI $106K/yr. $1.281M. 8.3% cap.
9. Rite Aid in Cary, NC: 10,908 SF Rite Aid  built in 1997 on 1.55 ac lot at a signalized corner near I-40/I-440 in growing (pop growth 28.68% since 2000) and well-off Raleigh suburbs. 100% NNN- lease with 5 ½ yrs left. NOI $ 227K/yr. $2.533M. 9% cap.
10. Auto Center in Glen Ellyn, IL: 12,600 SF auto service center at main retail corridor in affluent (AHI $129K/yr) Chicago metro. 100% NNN lease to AAMCO and West Suburban Auto Body. NOI $138K/yr. $1.8M. 7.70% cap.

© Transmercial 2012

06-06: MOB, REO'ed center, Taco bell, Walgreens, Apartments

1.       MOB in Richland Hills, TX: 13,760 SF medical office building on 1.3 ac lot with Grapevine Hwy frontage and close to I-820 in Dallas metro.  Remodeled in 2006 and anchored by 6199 SF DaVita Dialysis.  95% leased to 5 tenants with just 650 SF unit vacant.  NOI $154K/yr.  Price reduced from $1.7M to $1.6M.  9.66% cap.  Seller motivated.

2.     REO’ed Shopping Center in Brownsville, TX: 98,346 SF shopping center built in 2004 on 12.5 acres lot.  Anchored by 4 national tenants: Ashley Furniture, Bed Bath & Beyond, Party City, and Shoes Carnival.  92% leased to 8 tenants.  NOI $824K/yr.  Lender was owed $17M.  Expected to sell at about $9M or 9% cap. 

3.     Retail Building in Voorhees, NJ: 6664 SF retail building on 1.97 ac lot in a prime commercial corridor in a high income Philadelphia suburbs. Tenant has been at this location for 12 yrs. Tenant recently extended their 1^st 5 yr option. 100% NNN lease to FedEx Office.  NOI $129K/yr. $1.624M. 8% cap.

4.     Taco Bell in Elk Grove, CA: 2735 SF build-to-suit Taco Bell built in 2009 on .90 ac lot across WinCo Food anchored center. Next to Hwy-99 on ramp and in upper middle-class Sacramento metro. 100% absolute NNN lease with 17+ yrs left. NOI $110K/yr. with 10% rent increases every 5 yrs. $1.76M. 6.25% cap.

5.     Walgreen’s in Baytown, TX: 13.905 SF pharmacy built in 1999 on 1.50 ac lot off of Fwy-201 in Houston suburbs. Close to Baytown Medical Center, Jacinto Medical Group, Baytown Urgent Care and San Jacinto Methodist Hospital. 20 yrs NNN- lease with 8 yrs left. NOI $259K/yr. $3.463M. 7.50% cap.

6.     Apartments in Phoenix, AZ: 301-units 2-story well-maintained apartment complex on 16.56 acres of land close to schools, parks and public transit. 95% leased. NOI $854K/yr. $8.127M. 10.52% cap.

7.     MOB in Mountain View, CA: 5977 SF Class-B two-story medical office building adjacent to El Camino Hospital in affluent (AHI $168K/yr. in 1 mile) Silicon Valley. 100% leased. $2.795M. Cap/NOI not provided.

8.     Walgreen’s in Las Vegas, NV: 15,120 SF singe-tenant retail building constructed in 2001 on 2+ ac outparcel to Wal-Mart Neighborhood Market and  next to a 91,500 SF Albertson’s anchored center. 100% NNN- corp lease with 8+ yrs left. NOI $322K/yr. $4.35M. 7.40% cap.

9.     Shopping Center in Katy, TX: 44,621 SF mature shopping center at busy retail thoroughfare close to I-10 in Houston suburbs. Excellent demographics: AHI $114K/yr. in 3 mile radius. 95% NNN leased. NOI $385K/yr. $4M. 9.64% cap.

10.  MOB in Dacula, GA: 10,817 SF 5-yrs old medical building on 2.98 ac lot in fast growing and affluent Atlanta metro. Close to local hospitals and I-85. 77% leased to multiple tenants. $1.75M. Cap/NOI not provided.

© Transmercial 2012

06-05: Bank of the West, KeyBank, Krystal Burgers, Popeye's, La Petite Academy, MOB's

1. Bank of the West in Broomfield, CO: 3507 SF bank building completed in 2003 on 1.26 ac lot on a major commercial corridor in upper middle-class Denver suburbs (AHI $90K/yr in 1 mile).  Adjacent to 229,000 SF power center.  25 yrs NNN ground lease with 16 yrs left to BOW (S&P A).  NOI $106K/yr with 12% rent bumps every 5 yrs. $1.938M. 5.5% cap.
2. Keybank (S&P A-) in Indianapolis, IN: 2760 SF bank built in 2005 on .54 ac lot in growing and well-off (AHI $98K/yr in 1 mile) neighborhood. 15 yrs absolute NNN corp ground lease with 7+ yrs left. NOI $120K/yr. with 10% rent increases every 5 yrs in options. $1.77M. 6.84% cap.
3. MOB in Riverdale, GA: 12,256 SF well-maintained multi-tenant medical building on 1.72 ac lot near Southern Regional Medical Center and I-75 in Atlanta metro. 100% NNN leased to three tenants: DaVita, Southside Medical Center and Hearing Doctors of Georgia. NOI $178K/yr.  $1.883M. 9.5% cap.
4. Krystal Burgers in Jonesboro, GA: 2249 SF drive-thru fast food restaurant built in 2008 on .80 ac outparcel to Lovejoy Village: 84,711 SF center anchored by Kroger Supermarket along a major corridor in Atlanta suburbs. 100% absolute NNN lease with 17+ yrs left to Krystal Burgers, a 24/7 restaurant chain with 420 units in 11 states. NOI $67K/yr. with annual rent increases. $899K. 7.50% cap.
5. Retail Center in Pflugerville, TX: 8066 SF retail center built in 2011 on .80 ac lot across from Wal-Mart Supercenter in affluent Austin metro. Tenants include: Pacific Dental, AT&T and Cottonwood Financial. 81% NNN leased. NOI $207K/yr. $2.6M. 8% cap.
6. Retail Building in Sicklerville, NJ: 9908 SF newly constructed retail building on nearly 2 ac lot in affluent Philadelphia suburbs. 100% NNN leased to Buffalo Wild Wings and Cross Keys Urgent Care. NOI $267K/yr. $3.825M. 7% cap.
7. Popeye’s in Woodland, CA: 2565 SF Popeye’s Restaurant built in 2006 on .34 ac lot in Northwest Sacramento and close to I-5. Located at main entrance to the Woodland Harvest Square Center anchored by Wal-Mart, The Home Depot and Staples. New 15 yrs absolute NNN lease to a strong franchisee with 38 units. NOI $90K/yr. with 8% rent increases every 5 yrs. $1.5M. 6% cap.
8. La Petite Academy in Rialto, CA: 6635 SF day care center built in 1988 on 1+ ac lot in fast growing San Bernardino County. Tenant has been at this location since 1990.  Tenant recently extended their 1^st 5 yr option. 100% absolute NNN corp lease. NOI $62K/yr. with annual CPI rent bumps.  $776K. 8% cap.
9. MOB in Houston, TX: 33,148 SF three-story single-tenant medical office building renovated in 2010 on 1.70 ac lot close to Hwy-59. 100% leased. NOI $329K/yr. $4.714M. 7% cap.

© Transmercial 2012

06-04: O'Reilly Auto Parts, Apartments, Burger King, Mix-Used Center

1. O’Reilly Auto Parts in Mankato, MN: 8383 SF renovated auto parts store on .72 ac lot in a fast growing & middle-class city. Near Immanuel St. Joseph’s Hospital. 100% NNN- lease with 6+ yrs left. NOI $63K/yr. with rare 6% rent increases every 3 yrs. $773K. 8.15% cap. 
2. Shopping Center in Baytown, TX: 52,270 SF shopping center built in 2007 on 6.65 acres lot at a dominant retail corridor in middle-class Houston suburbs.  Anchored by Conn’s Appliances . Close to Wal-Mart, The Home Depot, Best Buy Hobby Lobby, Ross Dress for Less and San Jacinto Methodist Hospital. 98% leased. NOI $725K/yr. $10M. 7.25% cap. 
3. Apartments in Sacramento, CA: 156-units apartment complex close to shopping centers and easy access to I-80. Upgrades include: monument sign, paint, renovated pool area, landscaping and renovation of 85% of the unit interiors. NOI $525K/yr.  $5.772M.  9.10% cap. Only $37K per key. 
4. Retail Center in Keller, TX: 9340 SF beautiful retail center constructed in 2008 on 1.30 ac in high growth (45.07% since 2000) and prosperous (AHI $131K/yr. in 1 mile) Dallas/Fort Worth suburbs.  Outparcel to Keller Crossing: a 124,000 SF center anchored by Stein Mart, Big Lots, Ace Hardware, Tuesday Morning and more. 100% leased. NOI $227K/yr. $2.673M. 8.50% cap. 
5. Retail Center in Sumner, WA: 10,570 SF retail center on an outparcel to Fred Meyers Marketplace in fast growing Tacoma suburbs. 100% leased to strong mix of national and regional tenants. NOI $252K/yr. $3.15M. 8% Cap.  
6. Retail/Office Center in Staten Island, NY: 26,000 SF mix-used well-maintained center at a high income coastal town.  80% leased. NOI $540K/yr. $6.75M. 8% cap. 
7. Burger King in Flint, MI: 3000 SF Burger King fast food restaurant built in 1996 on 1+ ac lot near busy intersection (24,000 CPD) between I-475 and I-75. New 15 yrs lease. NOI $71K/yr. with (TBD) rent increases every 5 yrs. $880K. 8.10% cap.

© Transmercial 2012