03-02: Fitness Evolution; Zaxby’s; AAA Auto; Wild Berries Restaurant

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  1. Shopping Center in Brownsville, TX: 56,204 SF shopping center built in 2002 on 5.85 ac lot in a fast growing area. Across from 75,000 SF H-E-B and adjacent to new 195,000 SF Walmart Supercenter. 100% NNN leased. NOI $749K/yr. $9.991M. 7.50% cap.
  2. Fitness Evolution in Modesto, CA: 43,347 SF fitness center on 2.62 ac lot along major artery. 20-yrs absolute NNN corp lease. NOI $396K/yr with 1.25% annual rent increases. $5.657M. 7% cap.
  3. MOB in Lancaster, CA: 10,646 SF Class-A single tenant medical office building completed in 2005 on over 1 ac lot in growing Los Angeles suburbs. Adjacent to 420-bed Antelope Valley Hospital and close to Hwy-14. New 10-yr NNN lease to High Desert Gastroenterology and Advanced Endoscopy and Pain Center. NOI $389K/yr with 3% annual rent bumps. $5.986M. 6.50% cap.
  4. Zaxby’s in Jonesboro, GA: 3195 SF attractive franchised Zaxby’s Restaurant built in 2006 on .75 ac lot at a signalized corner location in fast growing Atlanta suburbs. Close to Southlake Pavilion Power Center with Costco, AMC Theaters, Burlington Coat Factory, T.J. Maxx and Barnes & Noble. Near Southlake Mall and I-75. 11-yrs absolute NNN lease. NOI $167K/yr. $2.391M. 7% cap.
  5. Retail Center in Leigh, FL: 25,000 SF retail center built in 2006 on over 3 ac lot along major corridor in Cape Corral suburbs. 100% leased. NOI $467K/yr. $6.2M. 7.5% cap.
  6. Strip Center in Matthews, NC: 13,888 SF strip center built in 2008 on 1.61 ac lot in high income (AHI $94K/yr) Charlotte suburbs. Next to I-485. 100% NNN leased. Pro forma NOI $224K/yr. $2.64M. 8.50% cap.
  7. MOB in Mathews, NC: 11,413 SF Class-B multitenant medical office building in high income Charlotte suburbs. Adjacent to Novant Health Mathews Medical Center. 100% leased. NOI $131K/yr. $1.649M. 8% cap.
  8. AAA in Manteca, CA: 6492 SF Class-B single tenant office building constructed in 1990 in growing upper middle-class San Joaquin County. 100% NNN lease with 3-yrs left to AAA, a brand name tenant. Near Kaiser Permanente. NOI $102K/yr. $1.43M. 7.20% cap.
  9. Retail Center in Orlando, FL: 20,160 SF well maintained thirteen units retail center built in 2008 along busy corridor. 100% NNN leased. NOI $156K/yr. $1.95M. 8% cap.
  10. Wild Berries Restaurant in Normal, IL: 6230 SF Wild Berries Restaurant on over 1 ac outparcel to major Power Center in Bloomington suburbs. 100% NNN lease with 5-yrs left. NOI $148K/yr. $1.75M. 8.50% cap.

(c) Transmercial 2015