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Topeka Commons is a 124,860-SF 100% leased multi-tenant retail center in Topeka, Kansas. The center is comprised of national, regional, and investment-grade tenants, including Ace Hardware, Genesis Health Clubs, Capital City Bank, Dollar Tree, and Dollar General. Located near the Hwy 24 / NW Topeka intersection, the property services the consumer needs of over 90,000 daytime population within 3 miles.
- Fully Stabilized Offering: Topeka Commons is a 100% occupied and highly visible +/- 124,860 SF retail center located along a diverse retail corridor approximately 3 miles from downtown Topeka, KS and the Philip Billard Airport.
- Ace Hardware is the world's largest private hardware company, with 5,000 stores worldwide and 50 in the state of Kansas. The corporation boasted a revenue increase of 28% compared to pre-pandemic levels, and the location at Topeka Commons has been in place since 2006, paying percentage rent above their breakpoint.
- Genesis Health Clubs has 58 stores in 6 states and occupies +/- 28,500 SF of space at the Center. The gym has extended their lease for an additional 15 years through December 2030.
- Dollar General has more than 17,170 stores across 46 states with 252 locations in the state of Kansas. The investment-grade corporation’s Cash Flow from Operations increased more than 73.2% since 2019 and the Dollar General location at Topeka Commons has occupied their space since 1994 and recently extended their term for 6 years through February 2028.
- Strong Tenant Performance according to Placer.ai:
o Dollar Tree: Top 5% of Dollar Tree stores located in Kansas (5/71)
o Dollar General: Top 30% of all other Dollar General locations in the state (76/252)
o Ace Hardware: Top 25% of locations in the state (14/50)
- Topeka Commons is comprised of 4 separate buildings and 2 separate outlots allowing investors to employ flexible exit strategies.
- Diversified Tenant Mix: Tenant lineup is comprised of home improvement, fitness, discount goods, financial services, F&B, and dining tenancy.
- Great Visibility and Access: The property is strategically located at the intersection of NW Topeka Blvd and HWY 24 with a combined traffic count of over 30,000 vehicles traveling past the Shopping Center each day.
- Proven Legacy of Tenant Retention: Genesis Health Clubs, Maj-R Thrift, Capital City Bank, Dollar General, Dollar Tree, Ace Hardware, & Mr. Goodcents, have been tenants at the property more than 15 years, contributing to Topeka Common's weighted average tenure of over 16 years.
- Located in the main retail corridor with surrounding national tenants including, Walgreen's, Walmart, Jimmy Johns, AutoZone, Wendy's, Taco Bell, McDonalds, Wendy's, & Starbucks.
- Recent Leasing Momentum: Capital City Bank & Uniquely Yours recently signed new leases at Topeka Commons, while Genesis Health, Ace Hardware, Dollar General, Ling’s Café, and Maj R Thrift recently executed lease extensions. This new leasing comprises 75% of the GLA at the asset.