02-18: Family Dollar, Medical Condo, MOB, Retail Centers, Shopping Centers

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  1. Retail Building in Parma, OH: 46,700 SF Toys/Babies “R” Us and 1620 SF Mr. Hero on 4.71 ac lot in Cleveland suburbs. Adjacent to Giant Eagle Grocery and Target. Across from Walmart and The Shoppes at Parma Redevelopment. Close to Parma Medical Center. 100% NNN leased. NOI $316K/yr. $4.085M. 7.75% cap.
  2. Retail Center in South Milwaukee, WI: 27,483 SF retail center built in 2007 on 7.84 ac lot along busy corridor. Adjacent to Pick ‘n Save Center. 100% NNN leased to Aldi Food Store,Dollar Tree and Little Caesars. NOI $323K/yr. $4.62M. 7% cap.
  3. Family Dollar in Tucson, AZ: 8320 SF Family Dollar constructed in 2013 on nearly 1 ac lot in a fast growing middle class area. 10-yrs NNN- corp lease with 9-yrs left. NOI $114K/yr. $1.704M. 6.7% cap.
  4. Taco Bell in Las Vegas, NV: 1760 SF attractive drive-thru fast food restaurant along busy corridor. Across from Food 4 Less. 100% absolute NNN lease with 4-yrs left to a strong franchisee with 65-units. NOI $165K/yr. $2.248M. 7.36% cap.
  5. Retail Center in Mansfield, TX: 17,311 SF recently constructed retail center on 2.83 ac lot in fast growing and high income (AHI $96K/yr in 1 mile) Dallas/Fort Worth suburbs. With easy access to Hwy-287. 91% NNN leased. Actual NOI $242K/yr. $3.405M. 7.12% cap.
  6. Shopping Center in Chandler, AZ: 55,194 SF well maintained shopping center on 4.62 ac lot at a hard corner location. Across from Home Depot, Safeway and Staples. Close to Chandler Regional Medical Center. 81% leased with good tenant mix including: Anytime Fitness, Filiberto’s, Sweeties Candy, 360 Physical Therapy, Novacur Pin Center and EVDI Medical Imaging among others. 7% cap. NOI/Price N/A.
  7. Medical Office Condo in Chino Hills, CA: 3551 SF single-tenant  medical office condo constructed in 2009 on 1.80 ac lot in growing and prosperous San Bernardino County with an AHI of $125K/yr in 1 mile radius. Next to Albertsons and near Hwy-71. 10-yr NNN lease with 5-yrs left to a Yelp highly-rated medical tenant. NOI $86K/yr. $1.275M. 6.75% cap.
  8. Shopping Center in Saginaw, TX: 21,290 SF inline shopping center built in 2002 in fast growing and high income Fort Worth suburbs. Shadow anchored by Albertson’s and across from Walmart Supercenter. Good tenant mix: Fossil Ranch Dental, Fossil Creek Liquor, Sunshine Herbs Health Store, T-Mobile and Check ‘n Go. 82% NNN leased. 7.50% cap. NOI/Price Not Disclosed.
  9. Retail Center in Kendall Park, NJ: 11,111 SF well maintained retail center built in 2005 at a signalized corner location in affluent (AHI $103K/yr) New York MSA. NNN leased to multiple tenants. NOI $245K/yr. $3.5M. 7% cap.
  10. MOB in Fountain Valley, CA: 33,070 SF multitenant medical office building on 3 ac lot in densely populated and high income (AHI $91K/yr) Southern California. Across from 413-bed Fountain Valley Regional Hospital. 100% leased. NOI $600K/yr. $10M. 6% cap.

(c) Transmercial 2015