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Arvest Bank GROUND LEASE Olathe, Kansas

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Arvest Bank GROUND LEASE Olathe, Kansas RDO INVESTMENTS Arvest Bank GROUND LEASE Olathe, Kansas OFFERED BY: RYAN D. O’CONNELL P. 602.595.4000 [email protected] Listed in conjunction with Kansas Broker Coleby Henzlik Elevate Property Advisors Office 602.595.4000 Fax 602.467.3218 ・ 3219 East Camelback Road ・ Phoenix, Arizona 85018 ・ www.RDOinvestments.com RDO INVESTMENTS 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 RDO Investments, LLC and should not be made available to any other person or entity without the written consent of RDO Investments, LLC. 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. RDO Investments, LLC 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 intentions 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, RDO Investments, LLC has not verified, and will not verify, any of the information contained herein, nor has RDO Investments, LLC 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 measures to verify all of the information set forth herein. All properties visits are by appointment only. PROPERTY SUMMARY RDO INVESTMENTS TENANT: Arvest Bank GUARANTOR: Corporate LOCATION: 16685 West 151st Street Olathe, Kansas 66062 TYPE OF OWNERSHIP: Fee Simple Ground Lease LEASE TYPE: Absolute NNN (No Landlord Responsibilities whatsoever) LIST PRICE: $1,700,000. CAP RATE: 4.25% LEASE TERM: REMAINING: 14+ years remaining BASE RENT: Years 1 - 5: $72,500. Years 6 - 10: $79,750. (10% Increase) Years 11 - 15: $87,725. (10% Increase) Years 16 - 20: $96,500. (10% Increase) Years 21 - 25: $106,150. (10% Increase) Years 26 - 30: $116,765. (10% Increase) Years 31 - 35: $128,450. (10% Increase) Years 31 - 35: $141,300. (10% Increase) OPTIONS: Five (5) five (5) year options with 10% Increases YEAR BUILT: 2020 SQUARE FOOTAGE: 865 +/- SF LAND AREA: .83 +/- Acres 36,080 Sq. Ft. LEASE COMMENCEMENT: June 13, 2020 LEASE EXPIRATION: June 12, 2035 PARKING LOT: Concrete ______________________________________________ RDOinvestments.com PROPERTY SUMMARY Arvest Bank Ground Lease – Olathe, KS RDO INVESTMENTS PROPERTY OVERVIEW: RDO Investments is pleased to present a newly constructed, Absolute Net Ground Lease to Arvest Bank in Olathe, Kansas. The property is strategically located along a main east/west retail thoroughfare on 151st Street with excellent visibility of over 25,300 Vehicles Per Day (VPD). The property also has indirect access from Mur-Len Road which runs north and south and has over 19,860 Vehicles Per Day (VPD). The property has excellent ingress and egress and part of the newly redevelopment of Heritage Square anchored by Sutherlands Home Improvement. The property was constructed in 2020 on an original 15 year lease term. The lease has 10% rental increases every 5 years throughout the primary term and option periods. The lease is an Absolute NET lease with NO Landlord Responsibilities whatsoever. LOCATION OVERVIEW: Kansas City is the largest city in Missouri, and has an estimated population of 495,327 in 2019 making it the 37th largest city by population in the United States. It is the central city of the Kansas City metropolitan area, which straddles the Kansas–Missouri border and encompasses over 2.16 million people. Olathe is the second largest city in Johnson County, Kansas, where it acts as the county seat, and also the fourth largest city in the state with 135,233 people. Located just 20 miles southwest of downtown Kansas City, Olathe offers all of the cultural advantages of the major metropolitan area, with an exceptional quality of life. These attributes have led to Olathe being named the 11th most desirable place to live in the Central U.S according to 24/7 WallSt in 2016. In 2014, Olathe was ranked in the "Top 10 Most Desirable Mid-Size Cities to Move to", by MSN, as well as ranked the #3 best mid-size to raise a family by Mylife.com. Olathe’s commercial and industrial parks are home to many companies, including Honeywell, Husqvarna, ALDI, Garmin, Grundfos, and Farmers Insurance Group. Kansas City is home to the headquarters of Fortune 500 Company H&R Block, who generates $4.2 billion in corporate revenues annually. With the recent development of their 600,000 square foot world headquarters building, H&R Block will remain a significant economic driver in Kansas City. Other Fortune 500 and 1000 companies with a presence in the metro include Sprint, Hallmark, AT&T, Interstate Bakeries, YRC Worldwide, American Century Companies, Kansas City Southern Industries, Lee Apparel, Cerner Corporation, Commerce Bancshares, Green Plains Energy, Applebee’s, AMC Theatres, American Century Investments, UMB Financial Corporation, Russell Stovers Candy and HCA, Inc. Based upon the 2020 Census, the national demographics consulting firm SitesUSA has estimated that for 2021 there are approximately 170,570 residents and 61,750 households with a five-mile radius of the Property. According to SitesUSA, the average household income with a five-mile radius of the Property was estimated to be $119,310. ______________________________________________ RDOinvestments.com TENANT OVERVIEW Arvest Bank Ground Lease – Olathe, KS RDO INVESTMENTS Arvest Bank is a bank headquartered in Bentonville, Arkansas, with branches in Arkansas, Kansas, Oklahoma, and Missouri. It is the largest and oldest bank in Arkansas and is on the list of 100 largest banks in the United States. It is almost entirely owned by the Walton family. In addition to banking, Arvest provides financial services including loans, deposits, treasury management, asset management, wealth management, life insurance, credit cards, title insurance, mortgage loans, and mortgage servicing. The story of Arvest is one of commitment started by their founders, an intense dedication to focusing on the customer. This philosophy has remained the same during their growth from a small bank to a group of community banks able to provide a complete range of financial services. In 1984, the company entered an expansion phase by purchasing First National Bank of Siloam Springs, Arkansas. In 1986, it purchased McIlroy Bank & Trust in Fayetteville, Arkansas. During the next two decades, the bank expanded its presence within its home state and in neighboring states through acquisitions in Arkansas, Missouri and Oklahoma. Since that time, the bank further expanded, including the Springfield, Mo., and Greater Kansas City markets. Most recently, Arvest acquired Bear State Bank, which introduced the bank to new communities in northeast and southwest Arkansas, southern Missouri and southeast Oklahoma. Arvest Bank is a privately held company headquartered in Bentonville. Arkansas. Today, Arvest has more than 270 locations that are part of 14 locally managed banks in more than 135 communities. Total assets now exceed $20 billion, and Arvest is the largest bank in Arkansas in terms of deposit market share. ______________________________________________ RDOinvestments.com PHOTOS - Arvest Bank Ground Lease – Olathe, KS FILE PHOTO PHOTOS - Arvest Bank Ground Lease – Olathe, KS FILE PHOTO RETAILER MAP - Arvest Bank Ground Lease – Olathe, KS North American Headquarters OLATHE HIGH SCHOOL ATM Mur-Len Rd Traffic Counts 19,860 VPD 151ST St Traffic Counts 25,300 VPD FILE PHOTO SITE PLAN Arvest Bank Ground Lease – Olathe, KS RDO INVESTMENTS Ingress/Egress Point To Heritage Square/151st St. 151ST St Traffic Counts 25,300 VPD Combined Traffic Counts 45,160 VPD ______________________________________________ RDOinvestments.com RETAILER MAP Arvest Bank Ground Lease – Olathe, KS RDO INVESTMENTS Mur-Len Rd Traffic Counts 19,860 VPD North American Headquarters Distribution Center OLATHE HIGH SCHOOL 151ST St Traffic Counts 25,300 VPD ______________________________________________ RDOinvestments.com LOCATION MAP Arvest Bank Ground Lease – Olathe, KS RDO INVESTMENTS DEMOGRAPHICS Arvest Bank Ground Lease – Olathe, KS RDO INVESTMENTS ______________________________________________ RDOinvestments.com CONTACT Arvest Bank Ground Lease – Olathe, KS RDO INVESTMENTS Ryan D. O’Connell RDO Investments 3219 East Camelback Road Phoenix, Arizona 85018 P. 6 0 2 -595-4000 F. 6 0 2 -467-3218 M. 602-790-9036 E. [email protected] ______________________________________________ RDOinvestments.com.
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