Prime Retail/Office Site | 135th Street | Leawood, Kansas | 66% Off Last List!
Ended: 03/31/20 at 1:00 PM CST
SITE INSPECTIONS: TUESDAYS, MARCH 17TH & 24TH; 11AM-1PM
PRIME LEAWOOD, KS RETAIL/OFFICE SITE AUCTION
NEC 135th ST. & BRIAR ST., LEAWOOD, KANSAS
• .88 Acre Prime Retail/Office Site in Affluent Leawood, Johnson County, Kansas.
• Located on High Traffic 135th St. at Signalized Intersection (NEC 135th St. & Briar St.)
• Within Upscale & Innovative 60-Acre Mixed-Use Development, Parkway Plaza.
• Join Starbucks, Country Club Bank, Reece Nichols and other Retail, Office, Medical Businesses.
• Close Proximity to 156,437 Residents Within a 5-Mile Radius.
• Leawood Residents Among the Wealthiest in Johnson County, Kansas.
• Over 28,000 Cars Per Day on 135th St. & Birch St., 22,000 Cars Per Day on Nall Ave. & 134th St.
• Located in One of the Best Real Estate Investment Markets in the Country, Johnson County, KS.
• 66% Off Last List Price of $577,800. Seller’s Low Reserve Only $196,452.
.88 Acres +/- (38,520 Sq. Ft.)
City of Leawood, Kansas
NEC 135th Street & Briar Street (Signalized)
60-Acre Mixed Use Development, Parkway Plaza
MXD – Mixed Use
Retail, Office, Professional, Medical
Water, Sewer, Electricity, Gas, Cable
Curb, Gutter, Sidewalk, Streets, Utilities
Top-Rated Blue Valley
2019 REAL ESTATE TAXES
$19,185 (Special Assessments of $8233 End 2022)
PARKWAY PLAZA – PREMIER MIXED USE DEVELOPMENT
Parkway Plaza is one of Leawood’s newest and most innovative mixed-use shopping area. This 60 Acre, lifestyle community is thoughtfully designed, and a place where people and businesses connect.
Conveniently located at 135th Street between Nall and Roe Avenues, this premier shopping center is a destination for all seasons providing retailers with more sales potential.
PARKWAY PLAZA HIGHLIGHTS
• True 60 Acre mixed-use, upscale retail, office and lifestyle community
• Excellent visibility and access with curbside parking
• Space available from 900SF to 11,000SF
• Buy, lease or build-to-suit
• One-half mile to prime street edge, clear visibility for retail signage 50 feet away
• Unified yet individual identity and brand exposure
• Charming gardens and European inspired architecture offers a rare pedestrian experience
TRADE AREA HIGHLIGHTS
• Leawood residents are among the wealthiest in Johnson County, boasting an average household income of more than $210,325 within a 1-mile radius.
• The population with a 5-mile radius of Parkway Plaza is approximately 156,437 residents.
• Leawood residents are extremely educated, with more than 68% having a Bachelor’s degree or higher. They consistently score in the national top twenty rankings in terms of High School graduation numbers and Bachelor’s/Post Bachelor’s degrees earned.
• Leawood is well-connected to the Kansas City Metro’s vast system of highways, providing access in 30 minutes or less to almost every community within the Metro Area.
• Johnson County is the wealthiest county in the State of Kansas.
• Johnson County accounts for 55% of the new businesses in the Kansas City MSA and 60% of the new businesses in the State of Kansas. Approximately 360 new businesses are added annually.
• Johnson County is known for its strong public education opportunities. Within the trade area, there are two major districts: Blue Valley and Shawnee Mission. Both districts have consistently been named among the top public school districts nationwide. Johnson County is home to 24 public golf courses, including designs by Johnson County resident Tom Watson, and Kansas City native Jim Colbert.
KANSAS CITY MSA
• The population in the Kansas City MSA is currently more than 1.95 million and is expected to grow an additional 5% in the next five years.
• Greater Kansas City is one of the fastest-growing labor markets in the Midwest, while featuring affordable lifestyle and business costs.
• According to the ACCRA Cost of Living Index, Kansas City is one of the most affordable among large U.S. cities in addition to being ranked as one of the most affordable housing markets, by the National Association of Home Builders.
OFFICE – COMMERCIAL – HOTEL
• According to Sites USA’s projections, approximately 117,592 people work within a 5 miles radius of Parkway Plaza.
• The entire Kansas City office Market is comprised of approximately 3,136 office buildings totaling more than 96 million square feet.
• Most of the office population is concentrated on the College Boulevard corridor, which is located within four miles of Parkway Plaza.
• The Sprint-Nextel World Headquarters Campus is located just minutes from the Parkway Plaza site on the northwest corner of 119th Street and Roe Avenue. It has more than 4 million square feet and 14,500 employees.
• The area is home to +5,022 hotel rooms. In 2005, 2.7 mission people visited the area generating $905 million into the local economy.
“ONLINE BIDDING” REAL ESTATE
AUCTION TERMS AND CONDITIONS
Proper and complete online registration is required to bid. All bidders must provide valid contact information including full name, address, phone number, and email address to register. A credit card (MC, Visa or Discover) is also required and will be validated before bidding access is granted, but is not a recognized form of payment for the earnest money deposit or purchase price. Bidders may also be required to provide proof of funds, bank letter of credit or other financial documentation if deemed necessary. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Bidders may register prior to, or during the bidding period. At registration bidders are given the option of receiving emails confirming their individual bids and/or when they are outbid.
All bidding in this auction is being conducted online. (If you need assistance placing a bid or prefer to submit a bid in person, please call our office for assistance at 816-781-1134) To place a bid, bidders have the option to bid in one of three ways 1) bid the current asking price, 2) bid a specific amount or 3) create a maximum bid. The “maxbid” or SET MAX” feature allows a bidder to enter their maximum bid. This authorizes the system to only bid the smallest acceptable bid increment on the bidder’s behalf when they have been outbid and only up to their maximum bid. The benefit of this feature is to provide you, the bidder with an easier way to bid by not having to login and manually bid each time you have been outbid. In the case of an auction with reserve, if the maximum bid entered is less than the reserve, the system will place the bid at the bidder’s maximum bid. If the reserve has been met or it is an auction without reserve, the system will only bid the smallest acceptable bid increment on the bidders behalf when they have been outbid and only up to their maximum bid. This auction utilizes a “Soft Close” feature that automatically extends the bidding time if a bid is received in the last 2 minutes of the auction. These extensions will continue until 2 minutes have lapsed without any bidding activity, at which time the auction is concluded. The benefit of these extensions is to provide an even playing field for all bidders.
A buyer’s premium of the greater of $2,500 or ten percent (10%) of the high bid shall be added to the high bid and included in the total purchase price to be paid by the successful bidder(s).
Sample calculation — High bid = $100,000
Buyer’s Premium = $ 10,000
Total purchase price = $110,000
Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction and provide a pre-approval letter from their lender.
At the conclusion of the auction the Winning Bidder will be notified and receive an email and/or phone call confirming their winning bid status. In this or a subsequent email the Winning Bidder will receive a link to sign all documents electronically along with wiring instructions for submitting the required earnest money deposit to the named title company. Should the electronic processes described above be unavailable, alternative arrangements will be made. In any event, the contract signing and deposit payment process must be completed by close of business on auction day. A Winning Bidder whose documents and deposit are not received within the required time frame is subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to bid in any future auctions. Please note that property-specific purchase contracts are available prior to the auction end date and reviews of such documents should be undertaken PRIOR to bidding. All final bids are subject to Seller’s reserve unless advertised otherwise. Any property with a high bid exceeding the Seller’s reserve will be declared “sold” by the Auctioneer. In instances where the seller’s reserve was not met in the auction, the signed contract and accompanying deposit will be presented to the Seller for approval, which shall be given or denied in the Seller’s sole discretion within 5 business days of the auction. If approval is denied, all documents and the deposit will be returned immediately.
EARNEST MONEY DEPOSIT:
The Winning Bidder shall be required to make an earnest money deposit equal to ten percent (10%) of the total purchase price. This deposit must be received by 5:00 pm CST by wire transfer (or by certified funds), on the auction end date. Winning Bidder(s) whose documents and deposit are not received within the required timeframe are subject to paying a liquidated damages amount equal to 10% of the total purchase price (in addition to any other damages allowed or permitted by law). Auctioneer reserves the right to charge such liquidated damages amount to the Winning Bidder(s) credit card used at registration and not allow the bidder to bid in any future auctions.
The Winning Bidder shall close within 30 days of the auction end date, unless stated differently in the Purchase Agreement.
EVIDENCE OF TITLE:
Seller shall furnish at seller’s expense an Owner’s Policy of Title Insurance in the amount of the total purchase price and shall execute a warranty deed conveying the real estate to the buyer(s).
REAL ESTATE TAXES & ASSESSMENTS:
2020 taxes are to be prorated as of the closing date.
EASEMENTS AND LEASES:
Sale of said property is subject to any and all easements of record and any and all leases.
Cates Auction & Realty Co., Inc. and its representatives are Exclusive Agents of the Seller.
A commission of 3% of the high bid (unless a different percentage is stated in the property’s MLS listing) is offered to all participating properly licensed Brokers. This commission will be paid at closing to the Broker representing the Winning Bidder, who has completed, returned and met the terms of the Broker Participation Agreement. This agreement is available on our website and must be completed and returned prior to the Broker’s bidder placing a bid and no later than 48 hours prior to the auction end date.
DISCLAIMERS AND ABSENCE OF WARRANTIES:
The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it. All sketches, dimensions, square footage, acreage amounts, etc. are approximate. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All information contained in the advertising and all related materials are subject to verification by all parties and the terms and conditions outlined in the purchase agreement. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). This property is available for and subject to sale prior to the auction end date.
We hope you enjoy bidding in this online auction!
Video: Prime Retail/Office Site | 66% Off Last List!
US-69 to 135th St., East to Briar St. Property on Northeast Corner.