Verizon - Garden City, KS
New 10-Year Lease Extension | Outparcel to Sam’s Club and The Home Depot
Investment highlights
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.
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