single tenant nnn lease

SINGLE TENANT
NNN LEASE
INVESTMENT
OPPORTUNITY
6959 E 21st STREET NORTH
(21st & WOODLAWN)
WICHITA, KANSAS
• Absolute net leased property for sale
DEMOGRAPHICS
• Tenant - Sports Authority, Inc.
1 MILE
• 52,259 SF building on 5.62 acres
• Lease terms 1/2002 - 2/2017 with 3 five year options
Population
• Offering Price: $5 Million
Average HH Income
3 MILES
5 MILES
12,406
70,083
155,737
$ 62,277
$ 75,357
$ 64,732
• 10% rental increase in March of 2012
For more information contact:
4705 Central Street, Kansas City, Missouri 64112
-
P) 816.960.1444
Tom O’Leary
senior vice president
816.268.9101
toleary@lane4group.com
-
F) 816.960.1441
-
www.lane4group.com
Single tenant nnn lease
Investment Opportunity
6959 E 21st STREET NORTH (21st & WOODLAWN)
WICHITA, KANSAS
SITE
SITE
Town East Square:
Dillard’s, JC Penney, Target
Old Navy, Sears, Von Maur
For more information contact:
4705 Central Street, Kansas City, Missouri 64112
-
Tom O’Leary
senior vice president
816.268.9101
toleary@lane4group.com
P) 816.960.1444
-
F) 816.960.1441
-
www.lane4group.com
Single tenant nnn lease
Investment Opportunity
6959 E 21st STREET NORTH (21st & WOODLAWN)
WICHITA, KANSAS
investment overview
Highlights:
• Net lease with corporate guarantee
The Sports Authority, Inc. is the number one
• 10% rent increase every 5 years
U.S. sporting goods chain with more than
• Class A construction and location
450 stores in 45 states. The chain sells sports
• $75,357 average household income within a
3 mile radius
equipment, general merchandise, shoes,
• Property offered debt-free
brands. The company’s 2003 merger with Gart
bikes and apparel with a focus on premium
Sports (owner of the Sportmart and Osh-
Tenant:
TSA Stores, Inc
man’s chains), marked a major consolidation
$5,000,000
in the sporting goods retail industry with the
List Price:
List Cap Price:
10.23%
Annual Rent:
$511,662
Rent per Sq. Ft.:
Rental Increases:
$9.79
10% every 5 years
Gross Leasable Area:
52,259 sq. ft.
Price per Sq. Ft.:
$95.00
Lease Type:
NNN
Year Built:
1994 - Renovated 2002
Lot Size:
5.63 Acres
Lease Expiration:
February 28, 2017
Renewal Options:
3 - 5 year options
For more information contact:
4705 Central Street, Kansas City, Missouri 64112
-
merged company coming out on top. Senior
management of The Sports Authority together with an investor group led by Leonard
Green & Partners took the company private in
2006. With nearly $3B in sales in 2008, Forbes
ranked The Sports Authority as the 140th largest private company. The company is headquartered in Englewood, Colorado and has
over 15,000 employees.
Tom O’Leary
senior vice president
816.268.9101
toleary@lane4group.com
P) 816.960.1444
-
F) 816.960.1441
-
www.lane4group.com