Marcus & Millichap is pleased to exclusively present for sale an industrial property located at 2037 South Southwest Boulevard in Wichita, Kansas. The property consists of 39,600 square feet of rentable space which is completely occupied by multi-national roofing material distributor, Beacon Roofing. The tenant is a Fortune 500 company with over 550 locations in the United States and Canada. Traded on NASDAQ (BECN) Beacon Roofing is the largest publicly traded supplier of roofing materials in the United States. Beacon Roofing has an annual sales run-rate of over seven billion dollars. The tenant is currently leased at well below market rents.
Wichita is a growing mid-western city of 389,000 people and accommodates the headquarters of numerous nationally recognized companies and installations including Cessna Aircraft, Koch Industries, Spirit Aerosystem, Bombardier Learjet, and McConnell Air Force Base. It is also home of Wichita State University, Kansas State University, and University of Kansas.
Wichita metro is home to over 8,000 engineers and engineering technicians, which is one of the highest concentrations in the United States. Considering the 100 largest metro areas in the United States, Wichita is number one in manufacturing jobs on a percent of all jobs; number three in percent of manufacturing jobs classified as “high-tech” (2014); number 22 in jobs classified as science, technology, engineering and math (2013). Money magazine listed Wichita as “one of the best cities in the United States to live”.
This asset is being offered at a 7.61 percent capitalization rate with a 9.40 percent cash-on-cash on current financials.
