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™ RETAIL ADVISORS OFFERING MEMORANDUM QUIKTRIP 10315 W 13TH ST N, WICHITA, KS 67212
™
R E T A I L A D V I S O R SOffering MeMOranduM
QuikTrip 10315 W 13Th ST n, WichiTa, kS 67212
Matthews retail advisors
cOnfidenTiaLiTY & diScLaiMer STaTeMenT
This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of QuikTrip located at 10315 W 13th St n, Wichita, kS 67212 (“property” ) . i t has been prepared by Matthews retai l advisors . This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the property. i t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews retai l advisors . The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.
By acknowledging your receipt of th is Offer ing Memorandum for the property, you agree:
1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;
2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and
3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.
Owner and Matthews retai l advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the property unless and unt i l a wr i t ten agreement for the purchase and sale of the property has been ful ly executed and del ivered.
i f you wish not to pursue negot iat ions leading to the acquis i t ion of the property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is property including this Offer ing Memorandum.
a prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the property, or informat ion provided herein or in connect ion with the sale of the property shal l be l imited to those expressly provided in an executed purchase agreement and shal l be subject to the terms thereof. in no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews retai l advisors or any of their af f i l iates or any of their respect ive of f icers , directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the property.
This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the property s ince the date this Offer ing Memorandum.
eXcLuSiVeLY LiSTed BY:
Table of Contentspricing & financiaL anaLYSiS
investment Overview ..................................................................... 2investments highlights.................................................................. 2executive Summary.........................................................................3
prOperTY deScripTiOnphysical description .......................................................................7Bird’s eye .......................................................................................... 8regional Map ................................................................................... 9Tenant Map......................................................................................10
deMOgraphicScity Overview | Wichita ............................................................... 13demographics report .................................................................. 13
Michael Morenoassociate direcT +1.310.919.5838 MOBiLe +1.818.522.4497 [email protected] License no. 01982943
aron clinepartner direcT +1.310.919.5816 MOBiLe +1.818.632.0233 [email protected] License no. 01904371
Tiffany ruzickaBroker of record License no. Br00030763
Matthews retail advisors
pricing & financiaL anaLYSiS
OFFERING MEMORANDUM | QuikTripp. 2 Matthews retail advisors
inVeSTMenT OVerVieW
Property:
Tenant:
• QuikTrip is one of the fastest growing convenience stores in the entire country
• QuikTrip ranked by forbes as 28th largest privote company with $11B in revenue
• first retailer to earn a “Top Tier” rating from gM, BMW, honda, VW, audi, & Toyota
• nnn Lease: Zero Landlord responsiblities
• Very Strong Location history - 30 years - Showing Strong commitment to Site
• QuikTrip just picked up last option on lease
• Tenant is playing below market rent compared to similar convenience sites
Location: • Located along major throughoufare on hard corner: Traffic
counts in excess of 15,000
• dense Location: 117,000 within 5-mile radius
• Strong demographics: income of $89,000 within 1-mile radius
Matthews retail advisors p. 3QuikTrip | OFFERING MEMORANDUM
PRICING ANALYSISeXecuTiVe SuMMarY
QuikTrip10315 W 13Th ST n WichiTa, kS 67212
List price ..............................................................................................$860,000cap rate - current ....................................................................................6.73%gross Leasable area ...................................................................... ± 3,246 SfLot Size ...................................................................... 0.80 acres (34,848 Sf)Year Built ....................................................................................................... 1990
annualized Operating dataMonthly rent annual rent rent/Sf cap rate
current $4,822.00 $57,864 $17.83 6.73%
Tenant Summary
Tenant Trade name QuikTrip
Type of Ownership fee Simple
Lease guarantor corporate
Lease Type nnn
roof and Structure Tenant responsible
Original Lease Term 5 Years
Lease commencement date 2/1/2016
rent commencement date 2/1/2016
Lease expiration date 1/31/2021
Term remaining on Lease 5 Years
increases none
Options none
OFFERING MEMORANDUM | QuikTripp. 4 Matthews retail advisors
cOMpanY OVerVieW
property name QuikTrip
property Type net Leased convenience Store
parent company Trade name Quik Trip corporation
Ownership private
rating agency Standard & poor’s
revenue ±11 B
no. of Locations ±700
no. of employees ±18,600
headquartered Tulsa, Oklahoma
Web Site www.quiktrip.com
Year founded 1958
QuikTrip corporation is a privately held company headquartered in Tulsa, Oklahoma. The company offers motor fuel/gasoline; made-to-order food, grab-and-go food items, and breakfast piz-zas with various toppings; and frozen lemonade in various flavors, specialty drinks, and fruit smoothies. it also provides prepaid fuel cards. founded in 1958, QuikTrip has grown to a more than $11 bil-lion company with 700+ stores in eleven states. Those revenues place QuikTrip high on the forbes listing of largest privately held companies. QuikTrip’s strategy is to be the dominant convenience/gasoline retailer in each market and to reach that level not through sheer numbers of stores, but through key, high-volume locations. With over 18,600 employees, fortune’s has ranked QuikTrip on the list of Best companies To Work for the last thirteen years. QuikTrip also gives back to the communities it serves, donating 5% of net profits to charitable organizations.
OFFERING MEMORANDUM | QuikTripp. 6 Matthews retail advisors
Matthews retail advisors p. 7QuikTrip | OFFERING MEMORANDUM
PROPERTY DESCRIPTIONphYSicaL deScripTiOn
THE OFFERING
property name ........................................................................................... QuikTrip
property address .....................................................................10315 W 13th St n
Wichita, kS 67212
assessor’s parcel number............................................134-17-0-22-02-005.02
Zoning .....................................................................................................................Lc
SITE DESCRIPTION
number of Stories .............................................................................................One
Year Built .............................................................................................................1990
gross Leasable area (gLa) ....................................................................3,246 Sf
Lot Size............................................................................. 0.80 acres (34,848 Sf)
Type of Ownership ...............................................................................fee Simple
Landscaping ........................................................................................professional
Topography ................................................................................... generally Level
cOnSTrucTiOn
foundation .......................................................................................concrete Slab
framing .............................................................................................................Wood
exterior ............................................................................................................... Brick
parking Surface ............................................................................................asphalt
roof ........................................................................................................................flat
OFFERING MEMORANDUM | QuikTripp. 8 Matthews retail advisors
Bird’S eYe
Matthews retail advisors p. 9QuikTrip | OFFERING MEMORANDUM
PROPERTY DESCRIPTIONregiOnaL Map
OFFERING MEMORANDUM | QuikTripp. 10 Matthews retail advisors
TenanT Map
deMOgraphicS
deMOgraphicS
OFFERING MEMORANDUM | QuikTripp. 12 Matthews retail advisors
DEMOGRAPHIC ANALYSISciTY OVerVieW | Wichita
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.
Wichita has more to offer than you can imagine. pic-ture eight shopping districts, 28 art galleries, 33 mu-seums, award-winning cultural opportunities such as The Wichita grand Opera, Music Theatre of Wichita and The Wichita Symphony Orchestra.
in Wichita, you can plan your relaxing getaway or enjoy concerts year round, 17 festivals and 22 attrac-tions. With more than 8,000 hotel rooms and over 1,000 restaurants, one weekend may not be enough to experience all Wichita has in store for you.
Matthews retail advisors p. 13QuikTrip | OFFERING MEMORANDUM
DEMOGRAPHIC ANALYSISdeMOgraphicS repOrT
population 1-Mile 3-Mile 5-Mile2021 projection 11,221 70,555 117,2822016 estimate 11,258 68,610 113,7692010 census 11,444 66,386 109,5202000 census 12,130 58,077 94,192growth 2016-2021 -0.33% 2.84% 3.09%growth 2010-2016 -1.63% 3.35% 3.88%growth 2000-2010 -5.65% 14.31% 16.27%
households2021 projection 4,425 27,194 45,1042016 estimate 4,395 26,462 43,8362010 census 4,376 25,685 42,4152000 census 4,322 21,430 35,838growth 2016-2021 0.68% 2.76% 2.89%growth 2010-2016 0.43% 3.03% 3.35%growth 2000-2010 1.24% 19.86% 18.35%
income$0 - $15,000 5.31% 6.00% 7.70%$15,000 - $24,999 3.89% 5.89% 7.60%$25,000 - $34,999 5.09% 7.35% 9.02%$35,000 - $49,999 11.62% 13.32% 13.33%$50,000 - $74,999 23.26% 19.33% 19.16%$75,000 - $99,999 17.73% 15.90% 14.54%$100,000 - $124,999 12.47% 12.34% 11.24%$125,000 - $149,999 9.81% 8.34% 7.24%$150,000 - $199,999 6.35% 6.41% 5.78%$200,000 - $249,999 2.09% 2.38% 2.11%$250,000 - $499,999 2.01% 2.32% 1.93%$500,000+ 0.37% 0.42% 0.36%2016 est. average household income $89,303 $87,090 $80,6982016 est. Median household income $76,166 $72,555 $66,130
Matthews retail advisors | 841 apollo Street, Suite 150 | el Segundo, ca 90245 | www.Matthews.com
QuIkTRIP10315 W 13th St nWichita, kS 67212Offering MeMOranduM
Tiffany ruzickaBroker of record License no. Br00030763
™
Michael Morenoassociate direcT +1.310.919.5838 MOBiLe +1.818.522.4497 [email protected] License no. 01982943
aron clinepartner direcT +1.310.919.5816 MOBiLe +1.818.632.0233 [email protected] License no. 01904371
