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Regus Business Center | Long Term NNN Lease | Tulsa, OK | 8 Cap
Stan Johnson Company is pleased to offer for sale to qualified investors a Regus business center located at 1831 E. 71st Street in Tulsa, Oklahoma. Regus is operating under a ten (10) year lease with nine and a half (9.5) years remaining with one (1), five (5) year renewal option. The lease is NNN and features limited landlord responsibilities.
Regus is the leading workplace provider with over 2,200 business centers across 104 countries. The company offers flexible workplace solutions to businesses in a variety of forms, including offices, meeting facilities, business lounges and video conferencing suites. For 2014, Regus reported revenues in excess of €1.6 billion ($1.8 billion) and a net income of €70 million ($76.8 million).
Virginia College | 11.5 Cash-on-Cash | 15 Year Lease
Stan Johnson Company is pleased to offer for sale to qualified investors the Virginia College property located in Tulsa, Oklahoma (MSA: 988,454).
The property is 100% leased to Virginia College and is operating under a brand new Fifteen (15) year net lease, with two (2), five (5) year renewal options.
The subject property is located off Interstate-44 (VPD: 81,472) on South Peoria Avenue (VPD: 19,931). The property is conveniently located in an urban area with access to major highways, retailers, and businesses. Virginia College is approximately seven miles from downtown Tulsa and 13 miles from Tulsa International Airport.
Virginia College was established in 1983 in Birmingham, Alabama and currently operates 23 locations in 10 states. Virginia College is owned and operated by Education Corporation of America (ECA), a privately held company that operates private accredited colleges across the United States.
Offering Price: $9,620,000
Cap Rate: 9.25%
Proposed Cash-on-Cash: 11.5%
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New Fifteen (15) year lease with Two (2), Five (5) year renewal options
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NNN lease with landlord responsible for building structure only
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Current annual rent: $889,802
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Attractive annual rental increases of 1% including option period
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The subject property is conveniently located off I-44, on South Peoria Avenue with combined VPD of 101,403
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Highly-profitable private company with consistently increasing net worth
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Proposed financing generates an initial cash-on-cash return of 11.5%, increasing annually
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