Asset Snapshot
Offering Summary
Newmark Knight Frank and RealINSIGHT Marketplace are pleased to present the opportunity to acquire The Thorn Building (hereafter the “Property” or “Project”). The Property consists of two Class A office buildings with a connected atrium totaling 150,026 rentable square feet located in Wichita, Kansas. Much of the Project was designed by the best-in-class architecture and design firm, Gensler.
The three-story mixed-use buildings delivered in 1989 and 1995 and sit on 13.82 acres, which back up onto an 18-hole golf course. The Thorn Building is ideally located in the wealthy NE submarket between Rock and Webb Road. Furthermore, convenient access to K-96 (0.5 miles) makes the building easily accessible from nearly any quadrant of city. The Property has a number of amenities that make it stand out including an enterprise level data center, key card access, gym, indoor basketball courts, and indoor racquetball courts.
The Thorn Building has a strong history of national credit tenants and was originally a built-to-suit for Rent-A-Center’s Corporate Headquarters. Other notable tenants include Coleman (functioned as their Corp. HQ), Accenture, Jarden Corporation, Grant Thornton, State Farm, and Via Christi Health.
The Property is currently 73% occupied by four tenants. Via Christi Health (investment grade) occupies more than 60% of the Project and has more than five years of term left on their lease with multiple base rent bumps remaining.
The Thorn Building presents a rare opportunity to acquire a Class A asset with a rich history in a stable market, which has a significant value add component as well as in-place cash flow from an investment grade tenant that is anchored in the city of Wichita.
Tours Available on Wednesday, June 13th.
Due Diligence
Platform Fee
Buyer pays a minimum platform fee of 5% or $25,000 at closing.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
