Available $3,936,600 - Office, Healthcare
Investment Offering & Highlights
- LONG-TERM MASTER LEASE
15-year lease which commenced in 2017 leaving approximately 10.75 years remaining on the primary term
- ATTRACTIVE RENT INCREASES
Lease features 10% rent increases every 5 years in the primary term and options, providing a hedge against inflation
- BENEFIT MANAGEMENT IS THE LARGEST THIRD-PARTY ADMINISTRATOR IN THE U.S.
Founded in 1995, BML has over 90 employees with offices in Great Bend and Wichita
- HEADQUARTERED IN GREAT BEND
BML has operated for over 26 years in Great Bend and recently expanded into Wichita, opening an office in February of 2021
- EXCELLENT EXPOSURE ALONG US-281/MAIN STREET
The subject properties are positioned along the area’s main north-south thoroughfare
- EASILY ACCESSIBLE VIA US-56 & US-281
Experiencing daily traffic counts in excess of 17,000 vehicles per day
- CLOSE PROXIMITY TO WALMART SUPERCENTER
Other National Retailers and traffic generators in the immediate area include Walgreens, Tractor Supply, McDonalds, Dollar General, Anytime Fitness, AutoZone, and many more
- RECENT EXPANSION
In 2017, BML expanded their footprint in Great Bend by approximately 50% from their original occupancy of 15,000 SF showing their long term commitment to the sites
THE SUBJECT OPPORTUNITY CONSISTS OF THREE BUILDINGS TOALING 22,275 SQUARE-FEET LEASED TO BENEFIT MANAGEMENT (BML) IN GREAT BEND, KS.
Benefit Management has leased the properties for 15-years via a long-term master lease, which commenced in 2017, leaving approximately 10.75 years remaining on the tenant’s initial lease term. BML, which is headquartered in Great Bend, has a proven track record at the subject property for over 26 years. In 2017, the Tenant expanded their footprint by approximately 50% from their initial occupancy of 15,000 square feet exuberating their long-term commitment. The lease features extremely attractive 10% rent increases every 5 years throughout the primary term, and between each of the two, two-year renewal options. Benefit Management, which was founded in 1995, is one of the largest Independent third-party administrators in the U.S covering thousands of lives in all 50 states with over $25 billion in adjudicated claims.
Two of the subject properties are part of a high street retail center that fronts US Highway 281/Main Street, the area’s main corridor and north-south traffic thoroughfare. These sites are easily Accessible via US-56 & US-281, which experiences daily traffic counts in excess of 17,000 vehicles per day. The additional location along Washington is located about a half mile from the headquarters creating optimal synergy and allowing BML the expansion capabilities needed to meet the current influx of new business. Other national Retailers and traffic generators in the immediate area include Walmart-Supercenter, Walgreens, Tractor Supply, McDonalds, Dollar General, Anytime Fitness, AutoZone, and many others.
- Price: $3,936,600
- Cap Rate: 8.25%
- Lease Term: 10.75 Years Remaining
- Building Size: 22,275 SF
- Lot Size: 1.05 Acres
- Status: Available