STARBUCKS | AT&T RETAIL CENTER WALMART & LOWES ANCHOR - Offering Memorandum - LoopNet
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Offering Memorandum
STARBUCKS | AT&T RETAIL CENTER
WALMART & LOWES ANCHOR
11661 E Kellogg Dr • Wichita, KS 67207 1
NON-ENDORSEMENT AND DISCLAIMER NOTICE
Non-Endorsements
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any
corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or
subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about
this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
Disclaimer
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has
been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References
to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus &
Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
STARBUCKS | AT&T RETAIL
CENTER - WALMART ANCHORED
Wichita, KS
ACT ID Z0540011
2
PRESENTED BY
Daniel Greenamyre
National Retail Group
Kansas City Office
Tel: (816) 410-1028
Cell: (913) 680-7359
daniel.greenamyre@marcusmillichap.com
License: KS SP00236311
3
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
TABLE OF CONTENTS
SECTION SECTION
THE MARCUS & MILLICHAP ADVANTAGE 01 MARKET OVERVIEW 07
Market Analysis
MARKETING TEAM 02 Demographic Analysis
Organizational Chart
Bio Page
MARKETING PLAN 03
INVESTMENT OVERVIEW 04
Property Overview
Location Overview
Regional Map
Local Map
Aerial Photo
Site Plan
FINANCIAL ANALYSIS 05
Tenant Summary
Lease Expiration Chart
Operating Statement
Notes
Pricing Detail
Proposal Price
MARKET COMPARABLES 06
Sales Comparables
4
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
INVESTMENT
OVERVIEW
5
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
PROPERTY OVERVIEW PROPERTY OVERVIEW
Marcus & Millichap is pleased to present the Starbucks AT&T Retail center of Wichita, Kansas, located between the major thoroughfares of E. Kellogg Ave
(Hwy 54), the toll road off I-35 and the signalized intersection of Greenwich Rd.
The Starbucks | AT&T retail center consists of a 100% occupied multi-tenant investment property with approximately 8,186 square feet of rentable space. The
subject property is anchored by a Walmart Supercenter, Lowe's, PetSmart, Michael’s and dozens of national retailers and restaurants within One Kellogg Place
power center development. The subject property shares a three (3) mile radius with Whole Foods, Super Target, Cabela’s, Costco, Ross, TJ Maxx, the factory
airport for Beechcraft jets and new luxury car dealership selling Porsche, BMW, Land Rover, Audi, Jaguar.
The Starbucks | AT&T retail center claims the most accessible and visible pad site which is situated adjacent to the monument sign entrance of One Kellogg
Place. The property is currently leased to Starbucks, AT&T, GameStop, and Great Clips. Starbucks (NASDAQ: SBUX) executed a new 10-year lease with
10% rent escalations every five years. Construction is underway for the interior, drive-thru and scheduled to be complete by the summer of 2018. AT&T
(NYSE: T) is operated by AT&T Mobility, a wholly owned subsidiary of AT&T with over 5,000 retail locations. Game Stop (GameStop NYSE: GME) has over
7,276 retail locations worldwide and Great Clips with over 3,700 locations nationwide. All tenants are under a triple-net lease and pay their pro-rata share of
taxes, insurance, CAM and management expenses.
Wichita is the largest city in the state of Kansas. For over 1.3 million people, Wichita is the closest city proving access to upscale shopping, major airlines,
specialized health care and premier entertainment. The three-mile average household income is $99,946. Kellogg Ave is undergoing major improvements to
accommodate an increase in population. Traffic is projected to jump from 40,000 VPD currently to an estimated “110,000 by the year 2040” (KDOT)
PROPERTY OVERVIEW
▪ 100% Occupied | 100% National Tenants | NNN Leases | Walmart Super
Center & Lowes Anchored Regional Power Center
▪ Starbucks (NASDAQ: SBUX) New 10-year Lease | Drive Thru
▪ AT&T (NYSE: T) Original Tenant | 4 Five Yr Options
▪ GameStop (NYSE: GME) & Great Clips Original Tenants
▪ Subject Property Boast Premier Access and Visibility Of Power Center
▪ Densely Populated Residential Area | Wichita Largest City In State Of
Kansas | Avg. HHI $99,946 in 3 Mile Radius
▪ Located On Main Thoroughfare | I-35 Toll Road Access | Traffic Count Set
to increase 275% in the next 20 years
6
PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
PRICING LOCATION
PRICING AND
AND TENANTOVERVIEW
SUMMARY
VALUATION
VALUATION MATRIX
MATRIX
11661 E Kellogg Dr, Wichita, KS 67207
CLOSE PROXIMITY TO:
# 7
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
LOCAL MAP
8
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
AERIAL PHOTO
E. Kellogg Ave 40,000 VPD
Subject
Burger King
McDonald’s
9
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
AERIAL – NW
Burger King
Representative Photo
Summer 2018
Subject
Parking Lot Expansion
See Site Plan, p. 16
10STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
3 MILE RADIUS - AERIAL – NW
Factory Airport
ONE KELLOGG PLACE
Subject Property
11STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
PROPERTY PHOTOS
12
12STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
Starbucks Under Construction - May 16, 2018
12
13STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
DRAWINGS 1
12
14STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
DRAWINGS 2
12
15STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
SITE PLAN
16STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
POWER CENTER - ONE KELLOGG PLACE
One Kellogg Place, a 72 acre power center,
opened in 2002 in Wichita, KS. Prominently
located at the juncture of three of Wichita’s
busiest roadways, One Kellogg Place
provides convenient shopping and dining
options to East Wichita and surrounding
communities. Anchored by Walmart
Supercenter and Lowe’s Home
Improvement, the development also
features Michaels Arts & Crafts, Slumberland
and many small shops and restaurants.
12
17STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
FINANCIAL
ANALYSIS
18STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
FINANCIAL ANALYSIS
TENANT SUMMARY
19STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
FINANCIAL ANALYSIS
PRICING DETAIL
20STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
FINANCIAL ANALYSIS
OPERATING STATEMENT
21STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
TENANT PROFILE
Starbucks AT&T
General Information General Information
Tenant Name Starbucks Corporation Tenant Name AT&T
Website https://www.starbucks.com/ Website https://www.att.com/wireless/
Parent Company Starbucks Corp Parent Company AT&T
Headquartered Seattle, Washington Headquartered Brookhaven, Georgia
Rentable Square Feet 2,070 SF Rentable Square Feet 3,282 SF
Percentage of RBA 25.30% Percentage of RBA 40.00%
Lease Commencement 9/28/2018 Lease Commencement 8/8/2005
Lease Expiration 2/16/2029 Lease Expiration 8/31/2021
No. of Locations 26,696 No. of Locations 5,000
Starbucks Corporation is an American coffee company and coffeehouse A wholly owned part of AT&T, AT&T Mobility provides wireless services to
chain. Starbucks was founded in Seattle, Washington in 1971. As of 2017, 138.8 million subscribers in the United States, Puerto Rico and the U.S.
the company operates 27,339 locations worldwide. Starbucks distinguishes Virgin Islands. AT&T Mobility is the second largest wireless
itself by taste, quality, and customer experience while targeting quality- telecommunications provider in the United States. Customers purchase
minded coffee drinkers, hot and cold drinks, full- and loose-leaf teas, wireless services as well as signing up for home phone, internet, U-verse
Evolution Fresh juices, Frappuccino beverages, and an expanded menu for and Direct TV, as of 2015.
Breakfast and Lunch.
12
22STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
TENANT PROFILE
GameStop Great Clips
General Information General Information
Tenant Name GameStop Tenant Name Great Clips
Website https://www.gamestop.com/ Website https://www.greatclips.com/
Parent Company GameStop Corp. Parent Company Great Clips (Private Company)
Headquartered Grapevine, Texas Headquartered Bloomington, Minnesota
Rentable Square Feet 1,588 SF Rentable Square Feet 1,246 SF
Percentage of RBA 19.40% Percentage of RBA 15.20%
Lease Commencement 7/25/2005 Lease Commencement 8/13/2005
Lease Expiration 12/31/2020 Lease Expiration 12/31/2020
No. of Locations 7,276 No. of Locations 4,100 +
GameStop is an American video game, consumer electronics retailer. The Great Clips is a hair salon franchise with over 4,100 locations across the
company operates 7,276 retail stores throughout the United States, United States and Canada. In 2013, it had system-wide sales of $1.03
Canada, Australia, New Zealand, and Europe. The company's retail stores billion. Over 30,000 stylists are employed by Great Clips salons. The
primarily operate under the GameStop, EB Games, ThinkGeek, and salons have been noted as a good investment as they are a low-cost
Micromania brands. In addition to retail stores, GameStop also owns Game franchise with high growth potential. In 2011, Great Clips launched Online
Informer, a video game magazine; Simply Mac, an Apple products reseller. Check-In, the industry's first real-time check-in application.
12
23STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
MARKET
COMPARABLES
24STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
SALES COMPARABLES MAP
STARBUCKS | AT&T RETAIL CENTER
(SUBJECT)
1 Starbucks Retail - Texas
New Starbucks & Mattress
2
Direct – Missouri
Starbucks & Mattress Firm
3
– Oklahoma
Starbucks & Marco's Pizza
4
– South Carolina
Starbucks | Chipotle -
5
Kansas
Starbucks Center -
6
Michigan
7 Starbucks & Chipotle - Ohio
Starbucks | AT&T -
8
Alabama
Starbucks Retail Center -
9
Colorado
Starbucks | Freddy’s- New
10
Mexico
Starbucks | Jimmy John's |
11
Mattress Firm – North
Carolina
SALES COMPARABLES
25PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
SALES COMPARABLES
SALES COMPARABLES SALES COMPS AVG
Average Cap Rate
7.0
6.3 Avg. 5.94%
5.6
4.9
4.2
3.5
2.8
2.1
1.4
0.7
0.0
SUBJECT Starbucks New Starbucks & Starbucks & Starbucks Starbucks Starbucks Starbucks Starbucks Starbucks Starbucks |
PROPERTY Retail at Starbucks Mattress Marco's | Chipotle Center & Chipotle | AT&T Retail | Freddy's Jimmy
Hudson Oaks & Mattress Firm - Pizza - Ohio Center - John's |
Direct Tulsa, OK Colorado Mattress
- St. Firm
Louis, MO
26PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
SALES COMPARABLES
SALES COMPARABLES SALES COMPS AVG
Average Price Per Square Foot
$800.00
$720.00
$640.00 Avg. $583.41
$560.00
$480.00
$400.00
$320.00
$240.00
$160.00
$80.00
$0.00
SUBJECT Starbucks New Starbucks & Starbucks & Starbucks Starbucks Starbucks Starbucks Starbucks Starbucks Starbucks |
PROPERTY Retail at Starbucks Mattress Marco's | Chipotle Center & Chipotle | AT&T Retail | Freddy's Jimmy
Hudson Oaks & Mattress Firm - Pizza - Ohio Center - John's |
Direct Tulsa, OK Colorado Mattress
- St. Firm
Louis, MO
27PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
SALES COMPARABLES
MARKETING TEAM
SALES COMPARABLES
SUBJECT PROPERTY STARBUCKS RETAIL AT HUDSON OAKS NEW STARBUCKS & MATTRESS DIRECT
2970 Fort Worth Highway, Hudson Oaks, TX, 76087 10775 & 10779 Watson Road, St. Louis, MO, 63127
11661 E Kellogg Dr, Wichita, KS, 67207
1 2
rentpropertyname1 rentpropertyname1 rentpropertyname1
Tenants Lease Type Tenants Lease Type Tenants Lease Type
Asking Price: $3,813,950 Starbucks NNN Close Of Close Of
4/18/2018 Starbucks NNN 11/3/2017 Starbucks NNN
Escrow: Escrow:
Price/SF: $465.91 GreatClips NNN Days On Days On
100 GNC NNN 107 Mattress Direct NNN
CAP Rate: 6.00% Game Stop NNN Market: Market:
Sales Price: $4,855,123 Metro PCS NNN Sales Price: $3,275,000
Year Built: 2005 ATT/New Cincular NNN
Price/SF: $533.00 SportClips NNN Price/SF: $753.74
CAP Rate: 6.07% 702 Nails NNN CAP Rate: 6.33%
Year Built: 2017 Hacienda Pools NNN Year Built: 2016
Annual Per SF Annual Per SF Annual Per SF
rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1
NOI $228,838 $27.95 NOI $294,706 $32.35 NOI $207,270 $47.70
Occupancy 100.0% Occupancy 100% Occupancy 100%
NOTES NOTES NOTES
Shadowed by Walmart Supercenter | New Starbucks Drive-Thru Shadowed by Walmart Supercenter 100% Occupied | New Starbucks With Drive-Thru | 10% Increases
100 Percent Occupied | All Leases are Triple Net 100 Percent Occupied | All Leases are Triple Net Every 5 Years Outparcel to Office Park with 8 Office Buildings &
100% National Tenants | Excellent Access 65 Percent of the GLA has Credit Tenants Holiday Inn, Across from 356,877 SF Mixed-Use Class-A Office
Freeway Location on US Highway 180 Park
28PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
SALES COMPARABLES
MARKETING TEAM
SALES COMPARABLES
STARBUCKS & MATTRESS FIRM STARBUCKS & MARCO'S PIZZA STARBUCKS | CHIPOTLE
1881 South Yale Avenue, Tulsa, OK, 74112 105 McMillin Road Ext, Boiling Springs, SC, 29316 8301 W 151st St, Overland Park, KS, 66223
3 4 5
rentpropertyname1 rentpropertyname1 rentpropertyname1
Tenants Lease Type Tenants Lease Type Tenants Lease Type
Close Of Close Of Close Of
2/1/2017 Starbucks NNN 3/1/2018 Starbucks NNN 5/31/2018 Starbucks NNN
Escrow: Escrow: Escrow:
Days On Sales Price: $2,000,000 Marco's Pizza NNN Days On
188 Mattress Firm NNN 30 Chipotle NNN
Market: Market:
Price/SF: $324.68
Sales Price: $3,295,000 Sales Price: $2,917,521
CAP Rate: 6.00%
Price/SF: $549.17 Price/SF: $666.86
Year Built: 2017
CAP Rate: 6.13% CAP Rate: 5.85%
Year Built: 2015 Year Built: 2018
Annual Per SF Annual Per SF Annual Per SF
rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1
NOI $202,000 $33.67 NOI $120,000 $19.48 NOI $170,675 $39.01
Occupancy 100% Occupancy 100% Occupancy 100%
NOTES NOTES NOTES
100% Leased - New 10-Year Leases with Starbucks Drive Thru 100% Occupied | Starbucks Drive Thru | New 10 Year Lease 100% Occupied | Starbucks Drive Thru &Chipotle
Out Parcel to Target, Reasors Foods, Gordmans and Sears Full Asking Price | 6% Cap Rate, Marco's Pizza is Local 2 Unit Out-parcel to Target | 10-Year Starbucks Lease
Excellent Frontage on S. Yale Avenue, Visible to 21,000 Cars per Operator Just off U.S. HWY 69 | Strong Daytime Population
Day
29PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
SALES COMPARABLES
MARKETING TEAM
SALES COMPARABLES
STARBUCKS CENTER STARBUCKS & CHIPOTLE STARBUCKS | AT&T
27200 Beck Rd, Novi, MI, 48374 3015 Meadow Pond Ct, Grove City, OH, 43123 1121 S College St, Auburn, AL, 36832
6 7 8
rentpropertyname1 rentpropertyname1 rentpropertyname1
Tenants Lease Type Tenants Lease Type Tenants Lease Type
Close Of Close Of Close Of
8/9/2017 Starbucks NNN 3/15/2018 Starbucks NNN 4/13/2018 Starbucks NNN
Escrow: Escrow: Escrow:
Sales Price: $3,250,000 Urgent Care NNN Sales Price: $2,950,000 Chipotle NNN Sales Price: $2,385,000 AT&T NNN
Price/SF: $550.57 Royal Nails NNN Price/SF: $651.50 Price/SF: $548.65
CAP Rate: 6.36% CAP Rate: 5.53% CAP Rate: 6.04%
Year Built: 2016 Year Built: 2017 Year Built: 2017
Annual Per SF Annual Per SF Annual Per SF
rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1
NOI $206,605 $35.00 NOI $163,080 $36.02 NOI $144,054 $33.14
Occupancy 100% Occupancy 100% Occupancy 100%
NOTES NOTES NOTES
NYSE: SBUX | Standard & Poor's A Rated | 2016 Revenue of Chipotle & Starbucks with Drive-Thru | 10-Year NNN Leases 100% leased with 10 year primary terms | Starbucks and AT&T
$19.16 Billio Prime Location | Busy Corner of Beck Road and Featuring 10% Increases Every 5 Years | Located Directly off I-71 10% escalations every five (5) years to national tenants
Grand River Avenue & S.R. 665 off Signalized Corner
30PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
SALES COMPARABLES
MARKETING TEAM
SALES COMPARABLES
STARBUCKS | JIMMY JOHN'S | MATTRESS
STARBUCKS RETAIL CENTER STARBUCKS | FREDDY'S FIRM
3560 E Woodmen Rd, Colorado Springs, CO, 80920 2550 Central Ave SE, Albuquerque, NM, 87106 13129 S Tryon St, Charlotte, NC, 28278
9 10 11
rentpropertyname1 rentpropertyname1 rentpropertyname1
Tenants Lease Type Tenants Lease Type Tenants Lease Type
Close Of Sales Price: $4,233,000 Starbucks NNN Close Of
7/20/2017 Starbucks NNN 3/15/2018 Starbucks NNN
Escrow: Escrow:
Price/SF: $763.67 Freddy's NNN
Sales Price: $3,000,000 Super Cleaners NNN Sales Price: $4,400,000 Jimmy John's NNN
CAP Rate: 5.20%
Price/SF: $461.40 Sport Clips NNN Price/SF: $614.27 Mattress Firm NNN
Year Built: 2018
CAP Rate: 5.71% Panda Express NNN CAP Rate: 6.15%
Year Built: 2001 Year Built: 2016
Annual Per SF Annual Per SF Annual Per SF
rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1
NOI $171,525 $26.38 NOI $220,116 $39.71 NOI $270,600 $37.78
Occupancy 100% Occupancy 100%
NOTES
NOTES Property is fully leased on a NNN basis to Starbucks and Freddy's NOTES
100% Occupied High-Quality Building with High Credit National Frozen Custard. Starbucks has a 10 year lease deal and Freddy's 100% Occupied | NNN Leases | Adjacent Of Super Target &
Tenant Mix | King Soopers (Kroger) Shadow Anchored Shoppette has a 15 year Shopping Center | 3 National Tenants
| High-Traffic Location
31STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
MARKET
OVERVIEW
32PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
WICHITA TRADE TEAM
MARKETING AREA
33STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
MARKET OVERVIEW
WICHITA
OVERVIEW
Boasting a diverse economic base of manufacturing, aircraft, healthcare
and professional services, the Wichita market is composed of five
counties and supports a population of roughly 649,000 people. In
METRO HIGHLIGHTS
addition, the metro is growing faster than the national average, with gains
DIVERSE MANUFACTURING BASE
of more than 21,100 people forecast by 2022. Wichita State University Manufacturers of aviation, air-conditioners, turf equipment, food products and
also lies within the city limits, enrolling a student body of nearly 14,500 in telecommunications are active in the metro.
both graduate and undergraduate programs.
EDUCATIONAL CENTER
Home to Wichita State University, education is a key driver of the economy.
Public school districts and the university provide more than 10,000 jobs.
LARGE GOVERNMENT PRESENCE
More than 7,000 workers are employed by the state of Kansas and the U.S.
government, providing a large contingent of employment to the metro.
ECONOMY
▪ Aviation is a integral part of the economy, with Spirit AeroSystems, Cessna Aviation and Beechcraft Corp.
hiring more than 25,000 workers. Boeing and Bombardier Aerospace also have a combined 5,500 employees.
▪ Via-Christi Health is one of the largest employers in the Wichita metro, with more than 10,000 workers on
local payrolls.
▪ Numerous other active distribution and manufacturing companies in the metro include Cargill Meat Solutions,
Koch Industries Inc., and York International. Together these firms employ approximately 4,000 people.
▪ Several telecommunications firms have established a base of operations in the market. Both T-Mobile and Cox
Communications have payrolls exceeding 800 positions each.
DEMOGRAPHICS
2017 2017 2017 2017 MEDIAN
POPULATION: HOUSEHOLDS: MEDIAN AGE: HOUSEHOLD INCOME:
649K 251K 35.5 $54,700
Growth Growth U.S. Median: U.S. Median:
2017-2022*: 2017-2022*:
3.3% 4.5% 37.8 $56,300
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau
1PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
MARKET OVERVIEW
DEMOGRAPHICS
MARKETING TEAM
Created on May 2018
POPULATION 1 Miles 3 Miles 100 Miles HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 100 Miles
▪ 2022 Projection Total Average Household Retail
$74,078 $75,273 $62,642
Expenditure
Total Population 4,309 51,577 1,315,263 ▪ Consumer Expenditure Top 10
▪ 2017 Estimate Categories
Total Population 3,935 48,008 1,294,015 Housing $19,381 $19,763 $16,484
▪ 2010 Census Transportation $12,851 $13,344 $11,160
Total Population 3,659 45,890 1,277,359 Shelter $10,802 $10,977 $9,132
▪ 2000 Census Personal Insurance and Pensions $8,419 $9,135 $6,415
Total Population 2,850 36,361 1,225,600 Food $7,272 $7,377 $6,421
▪ Current Daytime Population Health Care $5,092 $5,124 $4,535
2017 Estimate 3,900 46,574 1,312,711 Utilities $4,211 $4,256 $3,713
Entertainment $3,075 $3,180 $2,685
HOUSEHOLDS 1 Miles 3 Miles 100 Miles
Household Furnishings and
▪ 2022 Projection $2,143 $2,262 $1,815
Equipment
Total Households 1,551 20,524 524,165 Apparel $1,791 $1,807 $1,445
▪ 2017 Estimate POPULATION PROFILE 1 Miles 3 Miles 100 Miles
Total Households 1,404 19,057 510,079 ▪ Population By Age
Average (Mean) Household Size 2.75 2.50 2.47 2017 Estimate Total Population 3,935 48,008 1,294,015
▪ 2010 Census Under 20 29.41% 26.68% 27.65%
Total Households 1,298 18,204 502,533 20 to 34 Years 19.97% 22.05% 20.28%
▪ 2000 Census 35 to 39 Years 6.89% 6.15% 5.91%
Total Households 1,054 14,839 480,565 40 to 49 Years 12.32% 11.39% 11.10%
▪ Occupied Units 50 to 64 Years 18.70% 20.14% 19.45%
2022 Projection 1,551 20,524 524,165 Age 65+ 12.69% 13.60% 15.60%
2017 Estimate 1,538 20,179 570,420 Median Age 35.41 35.97 36.69
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 100 Miles ▪ Population 25+ by Education Level
▪ 2017 Estimate 2017 Estimate Population Age 25+ 2,563 31,719 844,766
$150,000 or More 10.23% 14.86% 5.63% Elementary (0-8) 1.68% 1.35% 3.08%
$100,000 - $149,000 14.09% 17.07% 11.40% Some High School (9-11) 7.36% 4.40% 7.48%
$75,000 - $99,999 11.47% 11.97% 12.51% High School Graduate (12) 24.35% 18.82% 30.04%
$50,000 - $74,999 29.07% 20.25% 20.60% Some College (13-15) 26.98% 24.30% 25.87%
$35,000 - $49,999 13.76% 11.41% 14.95% Associate Degree Only 7.47% 8.35% 8.02%
Under $35,000 21.35% 24.43% 34.92% Bachelors Degree Only 19.99% 26.49% 16.65%
Average Household Income $87,188 $99,946 $66,325 Graduate Degree 10.67% 15.39% 7.98%
Median Household Income $61,720 $66,724 $50,144
Per Capita Income $31,103 $39,691 $26,504
Source: © 2017 Experian
35PROPERTY NAME
STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
DEMOGRAPHICS
MARKETING TEAM
Population Race and Ethnicity
In 2017, the population in your selected geography is 3,935. The The current year racial makeup of your selected area is as follows:
population has changed by 38.07% since 2000. It is estimated that the 61.55% White, 10.60% Black, 0.04% Native American and 16.83%
population in your area will be 4,309.00 five years from now, which Asian/Pacific Islander. Compare these to US averages which are:
represents a change of 9.50% from the current year. The current 70.42% White, 12.85% Black, 0.19% Native American and 5.53%
population is 49.64% male and 50.36% female. The median age of the Asian/Pacific Islander. People of Hispanic origin are counted
population in your area is 35.41, compare this to the US average independently of race.
which is 37.83. The population density in your area is 1,251.51 people
per square mile. People of Hispanic origin make up 10.51% of the current year
population in your selected area. Compare this to the US average of
17.88%.
Households Housing
There are currently 1,404 households in your selected geography. The The median housing value in your area was $165,200 in 2017,
number of households has changed by 33.21% since 2000. It is compare this to the US average of $193,953. In 2000, there were 936
estimated that the number of households in your area will be 1,551 owner occupied housing units in your area and there were 118 renter
five years from now, which represents a change of 10.47% from the occupied housing units in your area. The median rent at the time was
current year. The average household size in your area is 2.75 $400.
persons.
Income Employment
In 2017, the median household income for your selected geography is In 2017, there are 2,293 employees in your selected area, this is also
$61,720, compare this to the US average which is currently $56,286. known as the daytime population. The 2000 Census revealed that
The median household income for your area has changed by 35.54% 59.86% of employees are employed in white-collar occupations in this
since 2000. It is estimated that the median household income in your geography, and 40.48% are employed in blue-collar occupations. In
area will be $70,117 five years from now, which represents a change 2017, unemployment in this area is 2.95%. In 2000, the average time
of 13.60% from the current year. traveled to work was 20.00 minutes.
The current year per capita income in your area is $31,103, compare
this to the US average, which is $30,982. The current year average
household income in your area is $87,188, compare this to the US
average which is $81,217.
Source: © 2017 Experian
36STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
8 DEMOGRAPHICS
37STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
MARCUS & MILLICHAP ADVANTAGE
MAXIMIZING
RESULTS WITH MOVING CAPITAL, MAXIMIZING VALUE
78 OFFICES
THROUGHOUT
THE U.S. AND
CANADA
With our collaborative
culture, cutting-edge
technology, and proven
methodology, we
efficiently match buyers
and sellers both regionally
and nationally to maximize
your success.
38STARBUCKS | AT&T RETAIL CENTER - WALMART ANCHORED
Agent
PROFILE
39AGENT PROFILE
Commercial Real Estate Investor
More Than 1,819 Investment Professionals
DANIEL GREENAMYRE in Offices Throughout the U.S. and Canada
NATIONAL RETAIL GROUP
NET LEASED PROPERTIES GROUP
MARCUS & MILLICHAP
KANSAS CITY
Daniel Greenamyre specializes as a broker for the acquisition and disposition
of investment real estate. Daniel has 12 years of experience in Commercial
Real Estate including a principal investor of retail, office and multi-family
property. Clients included Fortune 500 companies, Government Institutions
and national retailers. Daniel has CCIM education, CRE development &
portfolio management experience.
Daniel is a sales broker for owners of shopping centers, net-leased and
medical office property. Daniel advises on asset pricing; timing; strategic
acquisition; 1031 exchange; financing; research and extensive marketing
solutions. Daniel combines his experience as investor, manager, developer
and broker in assisting his clients with making intelligent decisions with their
investment real estate. MARKETING – TEAM
More Than 1,819 Professionals Advertising & Direct Mail
Throughout the U.S. & Canada Cooperating Brokerage
Electronic Marketing Community
(MNet, E-mail, Posting, etc.) Confidentiality Registration
Direct Client Calling Effort Offering Memorandum
DistributionPRESENTED BY
Daniel Greenamyre
National Retail Group
Kansas City Office
Tel: (816) 410-1028
Cell: (913) 680-7359
daniel.greenamyre@marcusmillichap.com
License: KS SP00236311
www.MarcusMillichap.com
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