Single-Tenant Industrial

Garsite/Progress, LLC

Listing Price: $3,990,000

Cap Rate
7.25%
Gross SF
68,085
Price/Gross SF
$58.60
Year Built
1956
Rentable SF
68,085

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 539 South 10th Street in Kansas City, Kansas, leased to Garsite/Progress, LLC. The subject property consists of approximately 68,085 square feet of space and is situated on 8.15 acres of land. The asset features 14-24 clear heights, 100+ parking spaces, 14 grade-level doors, and metal construction. Garsite/Progress, LLC has occupied this facility as their headquarters since 2001, with ownership investing over $200,000 in tenant improvements in 2016. Garsite extended their lease early in 2016, showing strong commitment to the site. The absolute net lease offers investors a hands-off investment. Located in the Amourdale Industrial Submarket of Kansas City, this is a tight barrier to entry submarket with 3% vacancy.

Since 1952, Garsite aircraft refuelers and hydrant dispensers have been the refuelers of choice by major in-to-plane fueling companies, oil companies, airlines, freight distribution companies, and fuel marketers around the globe. The companys services include: commercial aviation, military, international, AST, disinfectant equipment, and parts. Oil companies and fuel marketers such as Chevron Texaco, ExxonMobil, Air BP, Shell Oil, ConocoPhillips, EPPCO, Emirates National Oil Company, AvFuel, Ascent Aviation, Air Petro, and Western Petroleum have relied on Garsite engineering to produce the highest quality aviation refuelers. Airlines and government organizations such as Southwest Airlines, US Airways, Delta Air Lines, American Airlines, International Civil Aviation Organization (ICAO), Comair, KLM, Korean Airlines, Asiana Airlines, ASA (Mexico), The Port Authority of New York & New Jersey, and US and various Armed Services throughout the world have depended on Garsite to provide refueling solutions. Freight delivery companies, such as FedEx, UPS, DHL and Airborne as well as In-To-Plane Service Providers such as Bradley Pacific Aviation, SwissPort, Signature, ASIG, Allied, GlobeGround Support, and Atlantic Aviation have continued to look to Garsite. Garsite refuelers are in service every day at nearly every major U.S. airport and in over 80 countries on 6 continents. (garsite.com)

Kansas City, abbreviated as KCK, is the third-largest city in the State of Kansas, the county seat of Wyandotte County, and the third-largest city of the Kansas City metropolitan area. Kansas City is the home to the General Motors Fairfax Assembly Plant, which manufactures the Chevrolet Malibu and the Buick LaCrosse. The Federal Bureau of Prisons maintains its North Central Region Office in the city. In addition, Associated Wholesale Grocers and Kansas City Steak Company are based within the city. The largest employer is the University of Kansas Hospital.

Investment Highlights

  • Located in the Armourdale Industrial Submarket of Kansas City
  • This is a Tight Barrier to Entry Submarket With 3.0% Vacancy
  • Garsite/Progress, LLC has Occupied this Facility as Their Headquarters Since 2001
  • Ownership Invested over $200,000 in Tenant Improvements
  • Garsite Extended Lease Early in 2016 Showing Commitment to this Site
  • Absolute Net Lease Offers Investors a Hands-Off Investment

Exclusively Listed By

  • Adam Abushagur

    Senior Vice President Investments

    (972) 755-5223

    Email Adam

    License(s): TX: 661916

    Dallas

  • Tyler Sharp

    Associate

    Email Tyler

    License(s): IL: 475.177869

    Chicago Downtown

Single-Tenant Industrial

Garsite/Progress, LLC

Listing Price: $3,990,000

Cap Rate
7.25%
Gross SF
68,085
Price/Gross SF
$58.60
Year Built
1956
Rentable SF
68,085

Investment Highlights

  • Located in the Armourdale Industrial Submarket of Kansas City
  • This is a Tight Barrier to Entry Submarket With 3.0% Vacancy
  • Garsite/Progress, LLC has Occupied this Facility as Their Headquarters Since 2001
  • Ownership Invested over $200,000 in Tenant Improvements
  • Garsite Extended Lease Early in 2016 Showing Commitment to this Site
  • Absolute Net Lease Offers Investors a Hands-Off Investment

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 539 South 10th Street in Kansas City, Kansas, leased to Garsite/Progress, LLC. The subject property consists of approximately 68,085 square feet of space and is situated on 8.15 acres of land. The asset features 14-24 clear heights, 100+ parking spaces, 14 grade-level doors, and metal construction. Garsite/Progress, LLC has occupied this facility as their headquarters since 2001, with ownership investing over $200,000 in tenant improvements in 2016. Garsite extended their lease early in 2016, showing strong commitment to the site. The absolute net lease offers investors a hands-off investment. Located in the Amourdale Industrial Submarket of Kansas City, this is a tight barrier to entry submarket with 3% vacancy.

Since 1952, Garsite aircraft refuelers and hydrant dispensers have been the refuelers of choice by major in-to-plane fueling companies, oil companies, airlines, freight distribution companies, and fuel marketers around the globe. The companys services include: commercial aviation, military, international, AST, disinfectant equipment, and parts. Oil companies and fuel marketers such as Chevron Texaco, ExxonMobil, Air BP, Shell Oil, ConocoPhillips, EPPCO, Emirates National Oil Company, AvFuel, Ascent Aviation, Air Petro, and Western Petroleum have relied on Garsite engineering to produce the highest quality aviation refuelers. Airlines and government organizations such as Southwest Airlines, US Airways, Delta Air Lines, American Airlines, International Civil Aviation Organization (ICAO), Comair, KLM, Korean Airlines, Asiana Airlines, ASA (Mexico), The Port Authority of New York & New Jersey, and US and various Armed Services throughout the world have depended on Garsite to provide refueling solutions. Freight delivery companies, such as FedEx, UPS, DHL and Airborne as well as In-To-Plane Service Providers such as Bradley Pacific Aviation, SwissPort, Signature, ASIG, Allied, GlobeGround Support, and Atlantic Aviation have continued to look to Garsite. Garsite refuelers are in service every day at nearly every major U.S. airport and in over 80 countries on 6 continents. (garsite.com)

Kansas City, abbreviated as KCK, is the third-largest city in the State of Kansas, the county seat of Wyandotte County, and the third-largest city of the Kansas City metropolitan area. Kansas City is the home to the General Motors Fairfax Assembly Plant, which manufactures the Chevrolet Malibu and the Buick LaCrosse. The Federal Bureau of Prisons maintains its North Central Region Office in the city. In addition, Associated Wholesale Grocers and Kansas City Steak Company are based within the city. The largest employer is the University of Kansas Hospital.

Exclusively Listed By

  • Adam Abushagur

    Senior Vice President Investments

    (972) 755-5223

    Email Adam

    License(s): TX: 661916

    Dallas

  • Tyler Sharp

    Associate

    Email Tyler

    License(s): IL: 475.177869

    Chicago Downtown

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