THE Operating Agreement OF ADS Associates, LLC a Kansas Limited Liability Company WAS CREATED November 1, 2000
THERE IS ONE MANAGING MEMBER & SEVEN OTHER MEMBERS (INCLUDING THE SELLER)
35.25% INTEREST IN THE LLC IS BEING SOLD.
THE PROPERTY WAS PURCHASED FOR $19,390,000 IN 2017
PROPERTY IS 100% LEASED.
APPRAISED VALUE AS OF MARCH 2017 was based on a 7.5% Cap Rate
TENANT – PACIFIC SUNWARE “PacSun” IS A PUBLICLY TRADED COMPANY WITH REVENUES OF $780 MILLION
• 15 YEAR INITIAL LEASE TERM
• 4 (5) YEAR OPTIONS
• TRIPLE NET LEASE
• The property is PacSun’s sole distribution facility for the United States for its retail stores and ecommerce customers.
A thirty-five and one quarter (35.25%) percent membership interest in ADS Associates, LLC, which owns a TIC Interest in the industrial building “PacSun Distribution Center” 21800 West 167th Street, Olathe, Kansas 66062