JACK GOLDSBOROUGH, CCIM JOE [email protected] +1 816 216 5657: 2 / CUSHMAN & WAKEFIELD:...

1 / CUSHMAN & WAKEFIELD

8302 W 125TH STREET | OVERLAND PARK, KS 66213

OFFERING MEMORANDUM

EXCLUSIVELY OFFERED BY:

JACK GOLDSBOROUGH, [email protected]+1 816 412 0326

JOE [email protected]+1 816 216 5657


DISCLAIMER

Cushman & Wakefield has been retained as the exclusive advisor to the Seller for the sale of 8302 W 125th Street (the “Property”), approximately 9,015 square feet on 1.51 acres, located in Overland Park, KS.

This Offering Memorandum has been preparedby Cushman & Wakefield for use by a limited number of parties and does not purport to provide a necessarily complete summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. Allprojections have been developed by Cushman& Wakefield, the Owner, and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and Cushman & Wakefield, therefore, are subject to variation. No representation is made by Cushman & Wakefield or Owner as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Owner and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Cushman & Wakefield,

Owner, and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in, and omitted from, this Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. This Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of the package. Analysis and verification of the information contained in this package is solely the responsibility of theprospective purchaser.

Additional information and an opportunity to inspect the Property will be made available upon written request to interested and qualified prospective investors.

Owner and Cushman & Wakefield each expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers regarding the Property and/ or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase of the Property has been fully executed, delivered, and approved by Owner and its legal counsel, and any conditions to

Owner’s obligations thereunder have been satisfied or waived. Cushman & Wakefield is not authorized to make any representations or agreements on behalf of Owner.

This Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein are called the “Contents”), are of a confidential nature. By accepting the package, you agree (i) to hold and treat it in the strictest confidence, (ii) not to photocopy or duplicate it, (iii) not to disclose the package or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Owner or Cushman & Wakefield, (iv) to not use the package or any of the contents in any fashion or manner detrimental to the interest of Owner or Cushman & Wakefield, and (v) to return it to Cushman & Wakefield immediately upon request of Cushman & Wakefield or Owner.

The information contained herein has been obtained from the owner of the property or from other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.


EXECUTIVE SUMMARY

TENANT:University of Kansas Hospital Authority(University of Kansas Health System)

LOCATION:8302 W 125th StreetOverland Park, KS 66213

BUILDING SIZE: 9,015 interior square feet

LAND SIZE: 65,691 SF or 1.51 Acres

YEAR BUILT/RENOVATED:

1993/2013

LEASE EXPIRATION:

6/30/25 with two (2) five (5) year options to extend

INCREASES: 2% annually

LEASE TYPE: NNN

ROOF: Landlord

STRUCTURE: Landlord

NOI: $112,320

PRICE: $1,605,000

CAP: 7.0%


INVESTMENT HIGHLIGHTS

• 4 years and 8 months remaining on a 7-year lease

• Investment grade credit tenant

• State of the art sports training and rehab facility

• Located in Overland Park, KS, which is consistently ranked among the top places to live in the United States

• Meticulously maintained building

• NNN lease, Landlord is responsible for roof and structure

• Population 5-mile radius - 231,983

• Average HH income 5-mile radius - $130,328


INVESTMENT HIGHLIGHTS

This investment offering includes an investment grade tenant in one of Kansas City’s strongest submarkets. Originally developed as a light distribution center in 1993, the Property has since been converted to one of the premier sports training and rehab facilities in the Kansas City metropolitan area. In 2018, the Property was leased to the University of Kansas Health System (“KU Med”) and is now one of six Sports Medicine and Performance Centers operated by KU Med in the area. KU Med has a strong track record of growth and success, and its Sports Medicine practice is one of the top such programs in the country.

The Property is located in Overland Park, KS, the second-most populous city in the state of Kansas. The city is consistently recognized as a top place to live and raise a family, with excellent schools, low crime, and robust economic growth. As a result, Overland Park’s population has boomed in recent decades, including a 12.8% population increase since in 2010. Overland Park is experiencing tremendous development activity in close proximity to the Property, with large mixed-use projects set to bring additional Class A office, multifamily, and retail inventory to the immediate area. Situated amongst five major high schools and near the I-435 Medical Corridor, the Property is afforded great access to both patients and health resources.


LOCATION AERIAL

103rd Street103rd Street

College BoulevardCollege Boulevard

119th Street119th Street



143rd Street143rd Street

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Sprint Sprint CampusCampus

PrairiefirePrairiefireDevelopmentDevelopment

TownTown Center Center

Blue ValleyBlue ValleyNorth HSNorth HS

Blue ValleyBlue ValleyNorthwest HSNorthwest HS

Shawnee Mission Shawnee Mission South HSSouth HS

Olathe Olathe East HSEast HS

Johnson CountyJohnson CountyCommunityCommunity

CollegeCollege

Overland ParkOverland ParkRegional MedicalRegional Medical

CenterCenter

Saint Luke’sSaint Luke’sSouth HospitalSouth Hospital

Children’s MercyChildren’s MercyHospital KansasHospital Kansas

St. Joseph’s St. Joseph’s MedicalMedicalCenterCenter

University ofUniversity ofKansas EdwardsKansas Edwards

CampusCampus


TENANT PROFILE

University of Kansas Hospital Authority(University of Kansas Health System)

The University of Kansas Healthy System is a nonprofit, academic medical center located in Kansas City, KS, with branch hospitals and education centers throughout the state. KU Med is the region’s only nationally verified Level I Trauma Center and has been ranked the best hospital in Kansas and in Kansas City every year since 2012 by US News & World Report. With Physicians representing over 200 different specialties, the center has 910 staffed bed and handles nearly 300,000 outpatient visits annually. The University of Kansas Health System is the official healthcare provider of the Kansas City Chiefs, Kansas City Royals, and numerous local school districts.

Website: https://www.kansashealthsystem.com

Current Partnerships

https://www.kansashealthsystem.com


DEMOGRAPHICS - 2019

5 MILES

3 MILES

1 MILE

POPULATION1 MILE 3 MILE 5 MILE12,931 89,800 231,983

AVERAGE HH INCOME1 MILE 3 MILE 5 MILE

$116,623 $137,745 $130,328

POPULATION

89K+3 MILE RADIUS

AVERAGEHH INCOME

$137K+3 MILE RADIUS


KANSAS CITY METROPOLITAN AREA

Kansas City is a metropolitan statistical area with a population of 2.15 million according to the 2019 Census estimate. The city has traditionally maintained high levels of employment and is noted for educational attainment much higher than national averages. From January 2010 through August 2020, there was only one month when Kansas City had a higher unemployment rate than the national average and on two occasions the rates were equal. In 125 out of the 128 months in that time period, Kansas City had a lower unemployment rate than the U.S. average, with an average difference of 86 basis points.

According to Moody’s Analytics Industrial Diversity Index, Kansas City has the fifth-most diversified economy in the country. A review of the major employers in the area confirms that, with the medical software firm Cerner holding the title of largest private employer with over 14,000 local employees. Other major employers include Ford Motor Company, architectural and engineering firms Black & Veatch and Burns & McDonnell, both of which are headquartered in Kansas, and

technology firm Garmin, which employs more 4,000 people in advanced research & development roles, high-tech assembly positions, and other jobs. Kansas City is also home to multiple well-respected firms in the financial services and insurance fields as well as having a large federal government presence.

Part of Kansas City’s diverse and resilient regional economy comes from having high levels of educational attainment. For population aged 25 years and older, Kansas City noticeably outperforms the national averages in every category. 66.2% of Kansas City residents 25 and over have received some college education against a national average of 61.7%, and 23.8% of residents 25 and older have a Bachelor’s degree and another 14.0% have a graduate or professional degree, compared to national averages of 20.3% and 12.8%, respectively. Kansas City also features a thriving cultural scene, with major art museums, a world class performing arts center, and a strong creative community.

Kansas City Overview


OVERLAND PARK, KANSAS

Overland Park is the main hub of Johnson County. 2019 Census estimates gave Overland Park a population of 195,000 sf, making it the second-largest city in Kansas behind only Wichita. The city covers a large geographic area (75 square miles) and has portions in the north closer to Prairie Village and the Plaza area of Kansas City that has been developed for over 50 years. The downtown Overland Park area at 79th and Metcalf is in the midst of its own redevelopment that will bring more attention to a local farmer’s market and a multiple-square-block area of local businesses that is perfectly suited to a modern “live-work-play” concept. The area around 119th and Metcalf was primarily developed in the 1990s and features the suburban amenities and large retail stores one would expect, and the approximately 4.0 million square foot Sprint Campus is located nearby. Farther south, new construction continues on high-end, single-family housing.

Education has always been a priority in Johnson County and Overland Park. School Districts such as Shawnee Mission, Blue Valley, and Olathe not only provide nationally recognized traditional education, but they have incorporated culinary arts programs and career technical training, such as Broadmoor Bistro and the Career & Technical Campus for Shawnee Mission (two separate facilities in Overland Park), the Olathe School District’s Career Technical Education program that offers programs in 21 different career fields, and Blue Valley’s World Language Immersion initiative which offers students a chance to undergo immersion in the Chinese language. At a more advanced level, Overland Park is home to Johnson County Community College, one of the most respected junior colleges in the country, along with the University of Kansas Edwards Campus. Kansas State University maintains a campus in Olathe, and several other regional universities have locations throughout Johnson County.

OVERLAND PARK OVERVIEW

11 / CUSHMAN & WAKEFIELD4600 Madison Avenue, Suite 800, Kansas City, MO 64112 T 816 221 2200 / F 816 842 2798 / www.cushmanwakefield.com

Jack Goldsborough, [email protected]+1 816 412 0326 Direct+1 913 972 8933 Cell

Joe [email protected]+1 816 216 5657 Direct+1 816 810 6211 Cell

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CUSHMAN & WAKEFIELD

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