Shopping Centers for Sale.

Shopping Centers for Sale
Fourth Quarter 2009

Ft Lauderdale Publix, no debt will sell at an 8.35 cap on actual income.
44,800 sf, 100% leased, with 5 local tenants, on 5 acres, 5 to 1 parking ratio, 210 spaces, strong barriers too entry, built 2008, total revenue of $1,088,690 or $24.25 square foot.

Atlanta Publix, Price $10.7M, on NOI of $772,000 with debt of $8M @ 5% simple interest, call in 2011, total of 46,400 square feet, 100% occupied, on 5.4 acres, built in 2002, Publix annual sales in 2007 $472 square foot, main and main suburban location.

Orlando West Pulbix, 65,044 square feet, new center ideally located in the growth corridor of West Orlando, with excellent demographics, the center is currently in the lease up phase for local space, in place income of $981,054. With 15,008 local retail spaced not leased and three out parcels not sold.

Central Florida Publix, under construction will be completed in the fourth quarter 2009, 72,210 square feet, with 60% of the local space pre leased and three out parcels.

Orlando North Publix, 54,000 square feet, and Belk Department store 66,247 square feet, Total of 172,400 square feet, with 6 too 1 parking, 2005, occupancy 100% NOI $1,662,890, asking $24M, land lease for 60 years with options. Open too offers, no debt.

Tennessee Publix, 71,200 square feet, new in 2008, 95% leased with an NOI of $ 975,346., average household income of $67,374 within a three mile radius, priced at an 8 cap.

Tampa Sweetbay, 121,413 SF grocery-anchored shopping center located Currently 87% leased, is anchored by a Sweetbay (44,315 square feet), grocery store, leased until 2022, Family Dollar, Ace Hardware and Pet Supplies Plus. The Property is located on heavily-trafficked major artery in a densely populated residential area of North Tampa. This an excellent opportunity to acquire an established, Sweetbay grocery-anchored shopping center which provides stable cash-flow from national tenants and upside potential in the form of contractual rent increases and lease-up of vacant space. Price: $10,340,000. Year 1, Net Operating Income (In-Place): $902,707, Capitalization Rate: 7.10% Leveraged Cash-On-Cash return: 7.53% (with existing, assumable financing of 3.5% of $4,275,112, call 2011). Junior anchors include Ace Hardware, Pet Supplies Plus, and Family Dollar. Sweetbay and the junior anchors account for 65% of the space and 52% of the gross income.

Kentucky Kohl’s, 88,405 square feet, BBB+, NNN, built 2005, on 12 acres, leased until June 1, 2026, with an additional renewal option of six (5) year options, 100% leased Parking Spaces (5.1 per 1,000 RSF) NOI $ 728,000. Debt of $6M, at 5.13% due in 2011, annual debt service of $312,151. Open too all offers.

Dallas Kohl’s, Bed Bath & Beyond, and Marshals Anchored Power Center,197,332 square foot the Property benefits from a superior location that experiences traffic counts of over 100,000 vehicles per day, ideally located at two of the major thoroughfares connecting Fort Worth to the Dallas Metroplex and communities to the north. Occupancy is 95% leased with national retailers occupying approximately 91% of the rentable square footage and providing approximately 90% of the income. In addition, 71% of the rentable square footage (Kohl’s, Marshall’s and Bed Bath & Beyond) has an average remaining lease term of 15.5 years. 8.5 Cap rate.

South Carolina Kohl’s, consists of a 100% investment grade center, 173,801 square foot retail, center completed in the fall of 2008 on approximately 15.31, acres with the following tenants: Kohl’s Department Store, Dick’s Sporting Goods, Staples, AT&T, and Horde’s restaurant. The property has excellent frontage and exposure, on Clemson Boulevard (US Hwy 76 & 178). Priced 7.5 cap rate, on actual income.


Rio Grande Valley, Texas, HEB Grocery Plaza, 2009, Asking $34,759,000. at a cap rate of 8.5%, the center has a Rare 20 Year HEB Lease with an assumable loan of $23 Million Maturity in 2028, also a 30 year Wells Fargo Ground Lease, All NNN Leases, consisting of a 147,324 square foot HEB Plus and TJ Maxx, totals 213,090 square feet, excluding the ground lease with Wells Fargo. The property is located in a high growth area of Texas in the Rio Grande Valley. Average household income in a one, three and five mile radius is approximately $71,000, $78,000, $69,000 respectively. The subject property offers an investor the rare opportunity to acquire a new center with credit tenants on long term leases at an attractive return, due in part to an existing assumable loan with terms that cannot be duplicated in today’s markets.

Hedge selling his portfolio,15 locations, one city, 9 cap, absolute NNN, 15 year primary term, 7 (5 year options) each at a 25 basis point increase in the cap rate,
Additionally, they may offer a distribution facility on a sale/leaseback for 30 years (a $32m facility, 200,000sf).The package could reach $70-80m. There are 600 sites nationwide with annual sales over seven biliion dollars, listed on the Forbes 100 List of Privately Held Companies.


* Federal Express Distribution Warehouse, 118,796 Square Foot Building on 51.75 Acres of Land, California Location, 15 Year "N/N" Lease with Rent Increases every 30 Months This is Federal Express's 3rd largest facility in the United States. Built in 2006, NOI $2,761,160, Asking $35,500,000.

*New Jacksonville, Florida, 601,500-square-foot, NNN, Class A, state-of-the-art, concrete tilt-up distribution facility, 100% leased to Dr Pepper ( NYSE: DPS), through 2019.

* Florida Developer liquidating his NNN, free standing portfolio, Price $73 Million, 11 Walgreen’s and a Publix shopping center, Long-Term Net Leases (10-20 Years), Below-Market Rate (5.6%), Assumable Non recourse Debt of $53 Million. Asking an 8% Cap rate Net Operating Income $5,479,659, Debt Service $ 4,252,882, Net Cash Flow after Debt Service $1,226,777.

* Ten (10), Retail Citizens bank sites, S&P A rating, NNN, located in the Philadelphia metro area, 10 year term, Sale/Leaseback, Total NNN Rent of $1,766,400, average of $37.80 per SF, 1.25% per annum escalation, extremely high barriers to entry.

* Five (5), New QuikTrip sites located in the Phoenix area, Sale/Leaseback, $20 Million Dollars asking price, at a 10 cap rate. Founded in 1958, with 2008 revenue of $9.2 Billion, and over 500 locations in 9 states, S&P rating of BBB, #27 on Fortune 100 best companies.

* Developer selling Three (3), NNN leased Industrial Warehouse, located in Chicago, Atlanta & San Francisco, each 150,000 square feet, O Neil Steel Lease Guarantor with a $214 Million Dollar Net Worth, each site has 16 years remaining on the lease with assumable, non recourse financing at 5.6% simple interest, due in 2016, can be purchased individually or as a portfolio. Priced at a 10.5% cash on cash return, Asking $7.3M, $5.5M and $5.7M.

* Neways, Inc Utah, 100% NNN leased until 2028, 305,000 Square Foot Distribution Warehouse, The initial net annual rental of $1,152,750 has just increased to $1,167,000 June 1, 2009 (1.25% annual increase). There are three five-year renewal options with the same 1.25% annual increases. Net Annual Income: $1,167,000. Asking, Price $14.1M. Or an 8.27% return on the ask, (developer will take north of a 9 cap).

* 300,000 Square Foot, Mid town Manhattan Office, bank owned, secured by a $100 Million defaulted note. Can be deliver vacant, currently zoned for hotel, condo, or an apartment conversion. The site has a fantastic location.



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