Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1992
Building Area
Land Area
Number of units 1

Property Description

JLL Net Lease Advisory is pleased to exclusively offer a net lease opportunity to acquire a single tenant, fee simple outparcel property leased to PetSmart (the “Property”) in Wichita, the largest city in the state of Kansas. PetSmart has been at this location for 23 years and recently extended their term to now have 10.5 years remaining, with three, five-year options, all of which have varying increases every five years.

PetSmart is a privately-owned specialty retailer of pet food and supplies who employs approximately 52,000 associates and operates over 1,600 stores in all 50 U.S. States. Additionally, PetSmart carries more than 200 in-store hotels, dog and cat boarding facilities in the United States, Canada and Puerto Rico.  


Investment Highlights

·   Outparcel to the 900,000 SF JC Penney anchored regional mall, Towne West Square, which includes national tenants such as; Dick’s Sporting Goods, Kay Jewelers, American Eagle Outfitters, Dillard’s Clearance, Victoria’s Secret and Regal Cinemas

·      Conveniently situated between two major interstate highways; Route 235, with 45,500 vehicles per day, and Kellogg U.S. 54 with 89,800 vehicles per day

·    Solid demographics, as there is a population of 188,032 within a five-mile radius, as well as a daytime population of 224,431

·  PetSmart has been at this location for 23 years and recently extended their Lease to now have 10.5 years remaining, showing commitment to the location

· Excellent visibility, as the property can be seen from Kellogg U.S. 54, signage and access to the property due to the exit that leads right to S Tracy Street



Last Updated Date: 02 Sep 2020
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421

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Last Updated Date: 02 Sep 2020

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