• 2601 S Oliver St, Wichita, KS 67210

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Property Details

State of Kansas - Department for Children & Families

The Ficke Team of Colliers is pleased to present the exclusive investment opportunity to acquire The State of Kansas Department of Children and Families – Wichita Regional Headquarters office located at 2601 South Oliver Street in Wichita, KS.


The Kansas DCF Regional Office offers investors over 97,532 square feet of office space and is 100% leased to the Kansas Department of Children and Families (DCF) providing investors with a premium credit investment vehicle (S&P AA-) encumbered by 20 year total lease term inclusive of two (5-year) renewal options.


Originally constructed in 1961, the property was previously occupied by Boeing and the U.S. Postal Service prior to the State of Kansas taking occupancy on July 1, 2015 following an extensive renovation-to-suit for DCF’s Regional Headquarters. The property’s roof and structure were built with reinforced concrete and a new Carlisle roof installed in September 2019.


The subject property is one of four total DCF Regional Headquarter locations throughout Kansas and oversees the DCF mission in the following 4 counties: Sedgwick, Butler, Pratt and Cowley.


Generating approximately $800,000 in annual Net Operating Income with below-market rents in place, investors will realize significant cash-flow with minimal operating expense exposure due to the lease converting to modified-NNN structure on July 1, 2020. Tenant bears sole responsibility for operating costs including utilities, property management, repairs and maintenance, parking lot maintenance, landscaping, snow removal, irrigation system maintenance, and janitorial. Owner responsibilities include roof, structure, HVAC replacement, and liability insurance. All other items will be billed to the Tenant.


Investors will realize significant upside as the rents increase every 5 years inclusive of the two (5-year) option periods available in the current lease.

Investment Grade Credit with State of Kansas (AA- S&P)
Long Term Lease Through 2035
Rental Increases Every 5 Years
Rare ‘Modified NNN’ Lease Structure
New Roof Installed in September 2019

  • Property Type
    Office
  • Year Built
    1961Renovated 2015
  • Total Acres
    2.24
  • Number of Floors
    1
  • Property ID
    2166671

Landlord's Leasing Representatives

  • Geoff Ficke
    Colliers | Dallas
     
  • Zach Ficke
    Colliers | Dallas
     
  • RC Jensen
    Colliers | Kansas City