Brand New 10-Year Lease Extension
– Verizon Wireless has occupied the subject property since 2010 and recently renewed its lease for an additional 10-year term.
– The lease includes 5% rental increases every five years during the base lease term and each option period.
– The subject property was constructed in 2010 as a build-to-suit, designed to accommodate the tenant’s specific operational needs.
One of Verizon Wireless’s Largest Authorized Retailers (800+ Locations)
– Cellular Sales operates 800+ locations in 40+ states.
– The tenant employs over 7,000 team members.
– Cellular sales was founded in 1993 and is currently headquartered in Knoxville, TN.
Located in Garden City’s Primary Retail Corridor
– The subject property is an outparcel to Sam’s Club and The Home Depot.
– Other neighboring national tenants include Walmart Supercenter, Menards, Hobby Lobby, Petco, Ross, Ulta Beauty, T.J. Maxx and many more.
– Verizon benefits from exposure to more than 10,000 vehicles per day along East Kansas Avenue.
Garden City Serves as a Major Economic Center in Southwest Kansas
– Meat processing and food manufacturing remain major employers, including large plants such as Tyson Fresh Meats and expansions in beef processing facilities.
– Garden City attracts shoppers from a multi-state area including eastern Colorado and the Oklahoma/Texas panhandles because it is one of the largest retail hubs in the western part of Kansas.
– The Garden City region and Finney County sit in a productive agricultural area of southwest Kansas and the Arkansas River valley.
