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Shopping Regional

Garmin Olathe Soccer Complex & Shops

S Warwick St, Olathe, KS 66061

Listing Price: $33,454,217

Cap Rate
6.00%
Rentable SF
41,000
Lot Size
55.15 acres
Year Built
2017

Investment Overview

Marcus & Millichap is pleased to present a rare trophy asset with impeccable long-term real estate value. The GARMIN Olathe Soccer Complex (GOSC) and 35,283 SF of retail shops located in the city of Olathe, Johnson County Kansas, has the second highest rate of youth soccer players per capita in the United States. The property sits along the most trafficked highway in the in the entire state and just 700 feet from the K-10 / Ridgeview Rd. exit. The 48.5-acre soccer complex portion was developed as part of a 2017 Public/Private partnership to create a state-of-the-art youth soccer facility which caters to the robust youth-sports & youth-sports tourism industry - now estimated to be over $20 billion (2020) - (NLF industry $15.8 billion (2019). The city of Olathe & GARMIN Ltd. (NASDAQ: GRMN) partnered with West Star Development to build all-weather synthetic turf soccer fields with lights for night play and a 6,400 SF building for concession and office space. The retail shops were constructed between 2003-2016 and benefit from a vast customer base of affluent neighborhoods, strong office & industrial submarket and the 1.5 million annual attendees to the GARMIN Olathe Soccer Complex. The GARMIN Olathe Soccer Complex is anchored by Heartland Soccer Association, America's largest soccer league. Heartland Soccer Association has forty-four (44) years of operational experience and annual revenue of more than $4,000,000. Heartland Soccer Association host league and tournament events which, in total, draw over 2.8 million attendees to Johnson County every year (5 times more than the Kansas City Chiefs and more than all 81 home games by the Kansas City Royals) In 2021, Heartland Soccer Association has broken all previous registration records for league and tournaments, their key revenue drivers. Heartland Soccer Association is a strong 501(c)(3) non-profit with zero liabilities and $2.3 million in assets. Heartland Soccer Association has 21-years remaining on their ground lease with responsibilities for all maintenance and repairs to the complex and fields. Additionally, the GOSC holds a 10-year sponsorship with GARMIN (NASDAQ: GRMN) who paid an additional $1,000,000 to erect signage, plus leases with four (4) youth-soccer organizations (all charging thousands to coach youth-athletes) a concession operator and office space to the Kansas Youth Soccer Association. Johnson County Kansas has the highest per capita income and top schools in the state and holds a AAA bond rating by S&P. The city of Olathe is the county seat and the largest city in the county. Along with it's neighboring cities, Olathe is ranked among the safest in the U.S. (15th), has robust home construction, a 2.9% unemployment rate, and a 12.9% population growth since the last census. The city of Olathe is home to the GARMIN World Headquarters (NASDAQ: GRMN) with $200 million expansion underway, the Honeywell Aerospace division (NYSE: HON), Olathe Medical Center (recent $100 million expansion) and the Kansas Bioscience Park. *The GARMIN Olathe Soccer Complex & Shops may be purchased together or the GARMIN Olathe Soccer Complex alone. *Not a part (NAP) are three hotels by Sheridan 4-Points, Holiday Inn Express and Embassy Suites, a Phillips 66 fuel station/liquor store, Burger King, Taco Bell, a bar & grill and sports medicine all provide reciprocal support and play a key roll in lodging the youth-sport tourist. *See agent for drone photography

Investment Highlights

  • Youth-Sports Industry Est. $19-24B v. NFL $15.8B | Over 1.5 Million Visitors Per Year To GOSC
  • Jonson County Kansas Has The Second Highest Rate of Youth Soccer Per Capita In the U.S.
  • Heartland Soccer Association Is The Largest Soccer League & Tournament Host In The United States | 44-Yrs. | $4m In Annual Revenue | Zero Liabilities | Record Registration In 2021 | 25-Year Lease
  • Fields 100% Leased by Soccer Organization on Long Term Leases | 10-Yr. GARMIN (NASDAQ: GRMN) Sponsorship Agreement & $1m Signage Investment
  • Retail Shops Stabilized Prior To GOSC | High-End Brick Construction | Strong Customer Base of Youth-Sports Families, Affluent Neighborhoods, Office & Industrial Submarket
  • Strong Restaurant Operators With Multiple Locations | Rent Roll Supports & Compliments GOSC
  • One Mile Radius: 300,000 SF Office 93% Occupied | 1,700,000 SF Industrial/Warehouse Under Const. | $100 million Mixed-use Apartment Project Announced Oct. 5th 2021 | 15 Ac. Vista Ridge Underway
  • Excellent Access & Traffic: Two Signalized Intersections | Most Trafficked Highway in the State Of Kansas

Exclusively Listed By

Shopping Regional

Garmin Olathe Soccer Complex & Shops

Listing Price: $33,454,217

Cap Rate
6.00%
Rentable SF
41,000
Lot Size
55.15 acres
Year Built
2017

Investment Highlights

  • Youth-Sports Industry Est. $19-24B v. NFL $15.8B | Over 1.5 Million Visitors Per Year To GOSC
  • Jonson County Kansas Has The Second Highest Rate of Youth Soccer Per Capita In the U.S.
  • Heartland Soccer Association Is The Largest Soccer League & Tournament Host In The United States | 44-Yrs. | $4m In Annual Revenue | Zero Liabilities | Record Registration In 2021 | 25-Year Lease
  • Fields 100% Leased by Soccer Organization on Long Term Leases | 10-Yr. GARMIN (NASDAQ: GRMN) Sponsorship Agreement & $1m Signage Investment
  • Retail Shops Stabilized Prior To GOSC | High-End Brick Construction | Strong Customer Base of Youth-Sports Families, Affluent Neighborhoods, Office & Industrial Submarket
  • Strong Restaurant Operators With Multiple Locations | Rent Roll Supports & Compliments GOSC
  • One Mile Radius: 300,000 SF Office 93% Occupied | 1,700,000 SF Industrial/Warehouse Under Const. | $100 million Mixed-use Apartment Project Announced Oct. 5th 2021 | 15 Ac. Vista Ridge Underway
  • Excellent Access & Traffic: Two Signalized Intersections | Most Trafficked Highway in the State Of Kansas

Investment Overview

Marcus & Millichap is pleased to present a rare trophy asset with impeccable long-term real estate value. The GARMIN Olathe Soccer Complex (GOSC) and 35,283 SF of retail shops located in the city of Olathe, Johnson County Kansas, has the second highest rate of youth soccer players per capita in the United States. The property sits along the most trafficked highway in the in the entire state and just 700 feet from the K-10 / Ridgeview Rd. exit. The 48.5-acre soccer complex portion was developed as part of a 2017 Public/Private partnership to create a state-of-the-art youth soccer facility which caters to the robust youth-sports & youth-sports tourism industry - now estimated to be over $20 billion (2020) - (NLF industry $15.8 billion (2019). The city of Olathe & GARMIN Ltd. (NASDAQ: GRMN) partnered with West Star Development to build all-weather synthetic turf soccer fields with lights for night play and a 6,400 SF building for concession and office space. The retail shops were constructed between 2003-2016 and benefit from a vast customer base of affluent neighborhoods, strong office & industrial submarket and the 1.5 million annual attendees to the GARMIN Olathe Soccer Complex. The GARMIN Olathe Soccer Complex is anchored by Heartland Soccer Association, America's largest soccer league. Heartland Soccer Association has forty-four (44) years of operational experience and annual revenue of more than $4,000,000. Heartland Soccer Association host league and tournament events which, in total, draw over 2.8 million attendees to Johnson County every year (5 times more than the Kansas City Chiefs and more than all 81 home games by the Kansas City Royals) In 2021, Heartland Soccer Association has broken all previous registration records for league and tournaments, their key revenue drivers. Heartland Soccer Association is a strong 501(c)(3) non-profit with zero liabilities and $2.3 million in assets. Heartland Soccer Association has 21-years remaining on their ground lease with responsibilities for all maintenance and repairs to the complex and fields. Additionally, the GOSC holds a 10-year sponsorship with GARMIN (NASDAQ: GRMN) who paid an additional $1,000,000 to erect signage, plus leases with four (4) youth-soccer organizations (all charging thousands to coach youth-athletes) a concession operator and office space to the Kansas Youth Soccer Association. Johnson County Kansas has the highest per capita income and top schools in the state and holds a AAA bond rating by S&P. The city of Olathe is the county seat and the largest city in the county. Along with it's neighboring cities, Olathe is ranked among the safest in the U.S. (15th), has robust home construction, a 2.9% unemployment rate, and a 12.9% population growth since the last census. The city of Olathe is home to the GARMIN World Headquarters (NASDAQ: GRMN) with $200 million expansion underway, the Honeywell Aerospace division (NYSE: HON), Olathe Medical Center (recent $100 million expansion) and the Kansas Bioscience Park. *The GARMIN Olathe Soccer Complex & Shops may be purchased together or the GARMIN Olathe Soccer Complex alone. *Not a part (NAP) are three hotels by Sheridan 4-Points, Holiday Inn Express and Embassy Suites, a Phillips 66 fuel station/liquor store, Burger King, Taco Bell, a bar & grill and sports medicine all provide reciprocal support and play a key roll in lodging the youth-sport tourist. *See agent for drone photography

Exclusively Listed By

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