1938 N Woodlawn St
Wichita, KS 67208
Two Brittany Place · Office Property For Sale

Marcus & Millichap is proud to present One and Two Brittany Place, two four-story office buildings located in Wichita, Kansas. The buildings have a combined 116,993 rentable square feet with over 700 available parking spaces or 5.98 per 1,000 square feet. This property is located directly on North Woodlawn Street, which has traffic counts of over 25,000 vehicles per day (VPD). This location provides easy access for customers and employees to and from East 21st Street and is only one mile west of North Rock Road. One and Two Brittany Place were built in 1983 and 1985 respectively. Both buildings are four stories with reinforced concrete construction with reflective glass exterior. Variable air volume heating and cooling systems with individual zones assure balanced distribution of air for all offices and open areas. Brittany Place features on-site management offering flexible lease terms and exceptional customer service. The lobbies in each building were recently renovated as part of the $500,000 capital improvements. One and Two Brittany Place have been well maintained and provide professional curb appeal, ample parking, and nearby shopping opportunities being located adjacent to Brittany Center, a 65,406 square foot retail center anchored by Tuesday Morning. The buildings are currently 87 percent occupied by a mix of professional tenants including InfoSync which accounts for 67.22 percent of the rentable square footage. The majority of the rentable area is leased at below market rents providing an excellent value add opportunity. The vast majority of leases are full service gross leases with base year stops. In the last four years there has been over $500,000 in capital improvements including a brand new roof. The interior of the building consists of private offices and open floor space allowing for a range of uses and easy configuration. InfoSync is a national provider of outsourced accounting, reporting and human resources solutions. InfoSync serves over 7,500 restaurants and multi-unit business locations nationwide providing comprehensive outsourced accounting, reporting and human resource services. InfoSync currently has a substantial investment in their improvements in Brittany Place. The balance of the rentable area is occupied by smaller tenants ranging from management companies to law firms. These tenants occupy an average square footage of 3,750 each. These tenants are leased at an average of $14.80 per square foot while market rents are $18.00 per square foot plus, full service gross. This investment is being offered at $61.57 per square foot and a 8.53 percent capitalization rate going-in with a 12.04 percent cash-on-cash return.