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03-17: TGI’s Friday, Bank of America, MOB, Regional Centers, Strip Centers

  • Regional Center in Pickerington, OH: 44,834 SF attractive shopping center on 5.87 ac lot anchored by Life Time Fitness in high income Columbus suburbs. Shadow anchored by Kohl’s and next to OhioHealth’s new medical campus. NNN leased. NOI $728K/yr. $8.62M. 8.45% cap.
  • TGI’s Friday’s in Springfield, MO: 8000 SF casual dining restaurant and bar renovated in 2005 on over 1 ac lot. Adjacent to Power center with Ross Dress for Less, T.J. Maxx, Shoe Carnival and Petsmart. Across from Target and Lowes. Close to1,200,000 SF Battlefield Mall. 20-yrs absolute NNN lease with 10-yrs left. $3.265M. 7.35% cap.
  • Bank of America in Fresno, CA: 14,224 SF multiple drive-thru retail building on 1.69 ac lot along main artery. With easy access to Hwy-2. Tenant has been at this location since 1981. 100% NNN corp lease with 5-yrs left. NOI $125K/yr. $1937M. 6.50% cap.
  • Neighborhood Center in Webster, TX: 121,260 SF shopping center on nearly 10 ac lot at a hard corner location in growing and upper middle class area. Major tenants include: Gerland’s Food Town, McDonalds, Family Dollar and Palais Royal. 100% leased. Pro forma NOI $891K/yr. $12.3M. 7.25% pro forma cap.
  • Shopping Center in Atlanta, GA: 33,200 SF Class-A consisting of two retail buildings on 4.48 ac lot. Across from Cumberland Mall, close to Galleria Specialty Mall and next to I-285. Near new Altans Brave’s Stadium. 94% leased. Actual NOI $459K/yr. $5.1M. 9% actual cap. Upside potential.
  • Regional Center in Baytown, TX: 106,779 SF shopping center completed in 2003 on over 12 ac lot in Houston suburbs.  Major tenant include: Michaels, Boot Barn, Shoe Carnival, Pier 1 Imports and Buffalo Wild Wings. Shadow anchored by Kohl’s. Across from 1.15M SF San Jacinto Mall and near I-10. 98% leased. Pro forma NOI $1.331M/yr. $18.364M. 7.24% cap.
  • MOB in Merrillville, IN: 37,328 SF Class-B multitenant medical office building on over 5 ac lot adjacent to Methodist Hospital-Southlake. 100% NNN leased. NOI $462K/yr. $6.3M. 7.34% cap.
  • Office Building in Santa Clara, CA: 7320 SF well maintained office building on .55 ac corner lot in high income Silicon Valley. Adjacent to San Jose International Airport and close to Hwy-101. $2.15M. Seller will carry. Excellent for owner-user!
  • MOB in Eagle, ID: 5300 SF attractive medical office building constructed in 2003 on .59 ac lot in high income (AHI of $90K/yr in 3 miles)Boise suburbs. 100% NNN leased to multiple tenants. NOI $70K/yr. $990K. 7.12% cap.
  • Strip Center in Copiague, NY: 5800 SF strip center on .41 ac lot along main artery in high income New York suburbs. NOI $121K/yr. $1.95M. 6.20% cap.