Executive Summary

FREE STANDING VERIZON WIRELESS
5611 E. HARRY, WICHITA, KS 67218
J.P. Weigand & Sons, Inc. Commercial Division
150 N. Market, Wichita, KS 67202
Office: 316.262.6400  www.WeigandCommercial.com
DISCLOSURE STATEMENT
The information contained in the following marketing
brochure is proprietary and strictly confidential. It is intended
to be reviewed only by the party receiving it from J.P. Weigand
& Sons, Inc. and should not be made available to any other
person or entity without the written consent of J.P. Weigand &
Sons, Inc. This marketing brochure has been prepared to
provide summary, unverified information to prospective
purchasers, and to establish only a preliminary level of interest
in the subject property. The information contained herein is not
a substitute for a thorough due diligence investigation. J.P.
Weigand & Sons, Inc. has not made any investigation, and
makes no warranty or representation, with respect to the
income or expenses for the subject property, the future
projected financial performance of the property, the size and
square footage of the property and improvements, the presence
or absence of contaminating substances, pcb’s or asbestos, the
compliance with state and federal regulations, the physical condition of the improvements thereon, or the financial condition
or business prospects of any tenant, or any tenant’s plans or
intention to continue its occupancy of the subject property. The information contained in this marketing brochure has been obtained from sources we believe to be
reliable; however, J.P. Weigand & Sons, Inc. has not verified, and will not verify, any of the information contained herein, nor has J.P. Weigand & Sons, Inc. conducted
any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measure to verify all of the information set forth herein.
All information furnished regarding property for sales, rent, exchange or financing is from sources deemed reliable but no guarantee is made or responsibility assumed as to its accuracy or completeness and you are advised to make your own analysis and verification. Broker hereby notifies prospective buyer/lessee that (a) Broker will be acting as an agent of seller/lessor with the duty to represent seller/lessor’s interest; (b) Broker will not be the agent of buyer/lessee; and (c) Information
given to Broker will be disclosed to seller/lessor.
FREE STANDING VERIZON WIRELESS
5611 E. Harry, Wichita, Kansas 67218
EXECUTIVE SUMMARY
Property Information
Location: 5611 E. Harry, Wichita, Kansas
Building Size: 2,688 SF
Lot Size: 23,542.5 SF
Parking: 24 doorside spaces
Year Built: 1984
Zoning: LC - Limited Commercial
Occupancy: 100%
Tenant: Verizon Wireless
Price: $775,000
Demographics
Average HH Income
2015 Taxes: $7,252.34
NOI (2016): $57,792
Cap Rate: 7.5%
Population
1 Mile
3 Mile
5 Mile
$43,023
$63,065
$61,473
1 Mile
3 Mile
5 Mile
15,671
94,008
192,531
FREE STANDING VERIZON WIRELESS
5611 E. Harry, Wichita, Kansas 67218
LEASE SUMMARY
Verizon Wireless Lease Summary
Location: 5611 E. Harry, Wichita, Kansas
Insurance: Lessee agrees to pay insurance coverages listed
(Article 9a).
Tenant: Cellular Sales of Kansas, LLC
CAM: Lessee’s responsibilities (Article 14a).
D/B/A: Verizon Wireless
Tenant Maintenance: Tenant to maintain all interior portions of the Premises
including door, windows, ceiling tiles, fixtures, carpets
and floor covering, interior wall surfaces and coverings,
plumbing systems and HVAC (Article 14a).
Landlord: Verizon East Harry, LLC
Commencement 01/30/15
Date:
Landlord Maintenance: Lessor shall keep in good repair, maintain, and replace
all structural components of the Building items listed in
(Article 14b).
Expiration Date: 01/31/22
Square Footage: 2,688
Percentage Rent: None
Security Deposit: None
Taxes: Lessee agrees to pay Lessor as
Additional Rent all real estate and
ad valorem taxes (Article 7a).
Use of Premises: Sale of wireless and/or wireless communications services
(Article 5).
Exclusive Use: None
Lease Years
Start Date
End Date
Rent/SF
Per Month
Per Year
Current Term
1-7
01/30/15
01/31/22
$21.50
$4,816.00
$57,792.00
Option 1
8-10
01/30/22
01/31/32
$22.50
$5,040.00
$60,480.00
Option 2
11-13
01/30/32
01/31/45
$23.50
$5,264.00
$63,168.00
FREE STANDING VERIZON WIRELESS
5611 E. Harry, Wichita, Kansas 67218
ABOUT VERIZON WIRELESS
Verizon Communications, Inc. (NYSE, NASDAQ: VZ) headquartered in Basking Ridge, New Jersey, is a global
leader in delivering broadband and other wireless and wireline communication services to mass market, business,
government, and wholesale customers. Verizon Wireless operates America’s most reliable wireless network,
serving more than 137.5 million customers nationwide. Globally, they offer voice and data services in more than
200 countries. Verizon Wireless employs 173,300 people, and has 1,700+ company-operated retail locations in the
U.S. In 2015, Verizon Wireless reported total revenue of $131 billion. Verizon ranks #21 on the Forbes list of the
World’s Most Valuable Brands, and #22 on the list of the World’s Biggest Public Companies.
ABOUT GUARANTOR
Cellular Sales of Knoxville, the largest national Verizon premium retailer, was founded in Knoxville, TN in 1993. The company is currently at almost
600 locations strong and growing, operates in 27 states, and has over 4,500 employees. In 2014, they reported $1.3 billion in revenue and
boasted 79% growth over the prior three years.
FREE STANDING VERIZON WIRELESS
5611 E. Harry, Wichita, Kansas 67218
AERIAL VIEW
FREE STANDING VERIZON WIRELESS
5611 E. Harry, Wichita, Kansas 67218
AERIAL VIEW
FREE STANDING VERIZON WIRELESS
5611 E. Harry, Wichita, Kansas 67218
DOING BUSINESS IN WICHITA, KANSAS
Wichita is the largest city in the state of Kansas with a population of
382,368 in 2010. Located in Sedgwick County, Wichita is part of a larger
metropolitan area comprised of five counties which have a population of
645,162 as of 2015.
Wichita is home to world-class industries, the most noted of which are
aviation-related and have earned Wichita the title of “Air Capital of the
World.”
Wichita is located in south central Kansas at the intersection of Interstate
135 and U.S. Highway 54, approximately 157 miles north of Oklahoma
City, 181 miles southwest of Kansas City, and 439 miles east-southeast of
Denver.
Major Employers Include:
Spirit AeroSystems Inc. ....................................... 10,500
Via Christi Health ..................................................... 9,948
USD 259 ........................................................................ 8,305
Hawker Beechcraft .................................................. 5,000
Cessna Aircraft Co. ................................................... 4,695
State of Kansas .......................................................... 3,893
City of Wichita ........................................................... 3,423
U.S. Government ....................................................... 3,089
Sedgwick County ...................................................... 2,966
Bombardier Learjet ................................................. 2,738
Koch Industries ......................................................... 2,460
Wesley Medical Center........................................... 2,095
Wichita Metropolitan Statistical Area (MSA)
Demographics:
Population ............................................... 645,162
Median Age .............................................. 35.7
Average Household Income ............. $66,277
Total Businesses ................................... 31,692
FREE STANDING VERIZON WIRELESS
5611 E. Harry, Wichita, Kansas 67218
F OR M ORE I NFORMATION P LEASE C ONTACT :
Doug Malone
Michael Malone
316.292.3938
316.292.3956
[email protected]
[email protected]
J.P. Weigand & Sons, Inc. Commercial Division, 150 N. Market, Wichita, Kansas 67202 • www.weigandcommercial.com
All information furnished regarding property for sales, rent, exchange or financing is from sources deemed reliable but no guarantee is made or responsibility assumed as to its accuracy or completeness and you are advised to make your own analysis and verification. Broker hereby notifies prospective
buyer/lessee that (a) Broker will be acting as an agent of seller/lessor with the duty to represent seller/lessor’s interest; (b) Broker will not be the agent of buyer/lessee; and (c) Information given to Broker will be disclosed to seller/lessor.