DAYTON SUPERIOR INDUSTRIAL MANUFACTURING (PARSONS, KS)

SINGLE TENANT

1900 WILSON AVENUE, PARSONS, KS 67357
Price :
$ 3,750,000
Cap Rate :
9.25%
NOI :
$ 346,706
Lot Size :
17.30 acres
Year Built :
1954
Property Area :
120,000 sqft
Status :
UNDER CONTRACT
MARKETING PACKAGE

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

Investment Highlights

• Mission Critical Facility, Built-to-Suit for Dayton Superior In 1956
• Tenant has Expanded Operations at this Location Multiple Times
• Tenant Exercised Their 3-year Lease Renewal Option in Late March 2020 Despite COVID-19, Showing a Strong Commitment to this Facility
• Dayton Superior Consolidated Their Chicagoland Facility and Moved Those Operations to this Facility in Q1
• The Move was a Multi-Million Dollar Expenditure and Signifies Even Greater Commitment to Subject Facility
• Limited Space Available in this Market, Zero Industrial Buildings for Lease in a 40-Mile Radius
• Absolute Net Lease Offers an Investor a Zero-Management Responsibility, with Tenant Responsible for All NNN Plus Roof and Structure Repairs and Replacement (See Page 11 in Marketing Package for Additional Information)

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1900 Wilson Avenue in Parsons, Kansas, leased to Dayton Superior. The subject property consists of approximately 120,000 square feet of space and is situated on 17.3 acres of land. The asset features 10’-28’ clear heights, 59 free parking spaces, six dock-high doors, and steel frame and metal exterior. A mission critical facility, the property was built-to-suit for Dayton Superior in 1954. The tenant has expanded operations at this location multiple times and exercised their 3-year lease renewal option in March 2020 despite COVID-19, showing a strong commitment to this facility. In 2020, Dayton Superior consolidated their Chicagoland facility and moved all operations and machining to the subject facility. This along with the long operating history and early lease renewal assures the importance of this facility to their operations. The absolute net lease offers an investor a zero-management responsibility. With no industrial buildings for lease in a 40-mile radius, there is limited space available in this market.

Parsons is located right in the middle of America, the perfect location for distribution and manufacturing. U.S. Highways 59 and 400 intersect for convenient transportation in all directions. Target industries in Parsons include: agriculture and life sciences, health care services, advanced manufacturing, professional services, and tourism recreation. Manufacturing is a core component of Parsons’ local economy. Building upon existing strengths in products such as fabricated metals, printing and business forms will provide synergies to advanced manufacturing firms looking to expand or relocate. Its central location in the U.S. is an advantage and makes Parsons a logical fit for advanced manufacturing, logistics and distribution. Rail access, a rail switching yard at the Great Plains Industrial park, and access to the Port of Catoosa add to the competitiveness of Parsons’ location. Over 6,000 acres of land with rail access was purchased by the Great Plains Development Authority providing opportunities in advanced manufacturing, warehousing and storage, and logistics and distribution. Kansas offers an exemption on state and local property tax on commercial and industrial machinery and equipment acquired by qualified purchase or lease or transferred into the state. (growparsons.com)

BROKER OF RECORD
COLBY HAUGNESS
Kansas Broker of Record
7400 College Boulevard, Suite 105,
Overland Park, KS 66210
Tel: 816-410-1025
colby.haugness@marcusmillichap.com
License: KS 00241410
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060350)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916
Tyler Sharp
(312) 327-5446
Lic # TX : 475.177869

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