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Shopping Strip

Skechers Shops

4448 W Kellogg Dr, Wichita, KS 67209

Listing Price: $4,354,000

Cap Rate
8.00%
Gross SF
23,116
Rentable SF
23,116
Price/Gross SF
$188.35
Lot Size
2.01 acres
Year Built
1994

Investment Overview

The Guitar Center Company comprises a family of brands: Guitar Center retail stores; Musician’s Friend, an e-commerce site offering combo-focused instruments and equipment for established musicians; AVDG, a team that designs, engineers, and installs nextgen audio, video, and lighting systems for homes and businesses; Music & Arts, retail centers providing lessons, rentals, and repairs; Woodwind & Brasswind, and other private brands. Exotic Pets is a specialty pet store with two locations in the Wichita area, specializing in reptiles, amphibians, and insects. Various animals that Exotic Pets sells include Bearded Dragons, Geckos, Snakes, Chameleons, Frogs, Spiders, Scorpions, Snails and Fish. Along with a variety of animals, Exotic Pets also sells feeder insects and rodents, reptile and fish supplies, and live plants. Skechers is a global brand designing and developing lifestyle and performance product known for style, innovation, quality, and comfort. Along with its diverse footwear offering, the company’s head-to-toe collections for men, women, and kids include a growing range of apparel and accessories. The Skechers footwear collection has grown to over 3,000 styles covering every age and activity. Wichita is the largest city in the State of Kansas and the 49th-largest city in the United States. Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area. In 2018, the estimated population of the Wichita metropolitan area was 644,888. Major highways, including the Kansas Turnpike, US 400 and Interstate I-135, link the city with a large trade area that encompasses a population of more than a million people within a 100-mile radius. The nearest large cities are Denver to the west, Kansas City to the northeast, Oklahoma City to the south, and Tulsa to the southeast.

Investment Highlights

  • 100 Percent Leased to Diverse Tenant Profile: Skechers, Guitar Center, and Exotic Pets
  • All Triple-Net (NNN) Lease with 10 Percent Rental Increases Every Five Years
  • Corporate Guarantee from Skechers (NYSE: SKX) and Guitar Center
  • 191,771 Residents Within a Five-Mile Radius - Dense Wichita Infill
  • Adjacent to the U.S. Route 400 and I-235 Freeway Interchange, Providing Excellent Access and Visibility (132,500 Total Cars per Day)
  • Four Points of Ingress/Egress via Young Street, Tracy Street, and Kellogg Drive
  • Five Minutes from Dwight D. Eisenhower National Airport - the Largest Airport in Kansas with 1.75 Million Passengers in 2019
  • Down the Road from Westgate Market Square, a Dense Retail Corridor with Major Tenants Including Target, Sam's Club, Walmart, Lowe's, Home Depot, and More

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Shopping Strip

Skechers Shops

Listing Price: $4,354,000

Cap Rate
8.00%
Gross SF
23,116
Rentable SF
23,116
Price/Gross SF
$188.35
Lot Size
2.01 acres
Year Built
1994

Investment Highlights

  • 100 Percent Leased to Diverse Tenant Profile: Skechers, Guitar Center, and Exotic Pets
  • All Triple-Net (NNN) Lease with 10 Percent Rental Increases Every Five Years
  • Corporate Guarantee from Skechers (NYSE: SKX) and Guitar Center
  • 191,771 Residents Within a Five-Mile Radius - Dense Wichita Infill
  • Adjacent to the U.S. Route 400 and I-235 Freeway Interchange, Providing Excellent Access and Visibility (132,500 Total Cars per Day)
  • Four Points of Ingress/Egress via Young Street, Tracy Street, and Kellogg Drive
  • Five Minutes from Dwight D. Eisenhower National Airport - the Largest Airport in Kansas with 1.75 Million Passengers in 2019
  • Down the Road from Westgate Market Square, a Dense Retail Corridor with Major Tenants Including Target, Sam's Club, Walmart, Lowe's, Home Depot, and More

Investment Overview

The Guitar Center Company comprises a family of brands: Guitar Center retail stores; Musician’s Friend, an e-commerce site offering combo-focused instruments and equipment for established musicians; AVDG, a team that designs, engineers, and installs nextgen audio, video, and lighting systems for homes and businesses; Music & Arts, retail centers providing lessons, rentals, and repairs; Woodwind & Brasswind, and other private brands. Exotic Pets is a specialty pet store with two locations in the Wichita area, specializing in reptiles, amphibians, and insects. Various animals that Exotic Pets sells include Bearded Dragons, Geckos, Snakes, Chameleons, Frogs, Spiders, Scorpions, Snails and Fish. Along with a variety of animals, Exotic Pets also sells feeder insects and rodents, reptile and fish supplies, and live plants. Skechers is a global brand designing and developing lifestyle and performance product known for style, innovation, quality, and comfort. Along with its diverse footwear offering, the company’s head-to-toe collections for men, women, and kids include a growing range of apparel and accessories. The Skechers footwear collection has grown to over 3,000 styles covering every age and activity. Wichita is the largest city in the State of Kansas and the 49th-largest city in the United States. Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area. In 2018, the estimated population of the Wichita metropolitan area was 644,888. Major highways, including the Kansas Turnpike, US 400 and Interstate I-135, link the city with a large trade area that encompasses a population of more than a million people within a 100-mile radius. The nearest large cities are Denver to the west, Kansas City to the northeast, Oklahoma City to the south, and Tulsa to the southeast.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

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