Assignment – Spring Creek 2019-03-08T20:58:36+00:00

DERBY, KS

SPRING CREEK
SHOPPING CENTER

  • Price  $4.903M
  • Cap Rate 8.00%
  • NOI $392K
  • Square Feet 31,557
  • Year Built  2007
  • Occupancy 100%
OFFERING MEMORANDUM

INVESTMENT SUMMARY

The Chetek Group of Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire Spring Creek Shopping Center (“the Property”), a 31,557-square foot neighborhood shopping center located in Derby, Kansas, the largest and most affluent suburb in the Wichita, Kansas MSA. The Property is comprised of two buildings situated on 3.5 acres of land. The 100% occupied Property includes a diverse tenant roster leased to a mix of service-oriented and medical uses which serve as staples to the community and surrounding areas. Grene Vision Group is the property’s largest tenant occupying 4,847-square feet, and also an original legacy tenant of the property since construction in 2007.

INVESTMENT HIGHLIGHTS

Spring Creek Shopping Center is a 31,557-square foot neighborhood shopping center located in Derby, Kansas, the largest and most affluent suburb in the Wichita, Kansas MSA.

Tenant roster includes a significant concentration of medical space leased to a dentist, orthodontist, and vision center (27% of GLA), as well as other service-oriented uses including a nail salon, hair salon, and sports bar.

Spring Creek Shopping Center is ideally positioned in the heart of the high-growth, high-income Derby development and attracts consumers from around the region.

Located off the signalized, hard-corner of Rock Road and E Madison Avenue, the area’s major intersection and primary thoroughfares, the Property features exceptional visibility and convenient access from all directions.

The strong fundamentals of the Property and surrounding community offers investors a stable and secure cash flow which has been tested and proven to be e-commerce resistant.

In addition, the asset offers strength in historical occupancy and diversity with no major vacancy risk – the largest space is 4,847-square feet.

OFFERING MEMORANDUM