2013 N Summit St Arkansas City, KS 67005

Westlake Plaza is a 40,260 square foot retail center situated on the west side of Highway 77 in Arkansas City, Kansas. The property is fully leased to two national tenants, Dollar Tree and Westlake Ace Hardware. Dollar Tree has been a tenant since 2015 and has 4.5 years remaining on their term. Westlake Ace Hardware has been a tenant since 1998 and has 11 years remaining on their lease term. Both tenants have recently renewed their leases. Dollar Tree exercised their most recent five-year option and has one remaining option that would extend their lease through 2035 if exercised. Westlake Ace Hardware recently extended their lease an additional 11 years with two additional extension options that would extend their lease through 2047 if exercised. The property has 3,487 square feet of decommissioned space with access from the north side of the building along Radio Lane. The vacant space is decommissioned and included in Westlake Ace Hardware’s pro rata share, but could be adapted into rentable square footage. Additionally, the landlord has the option to recapture 5,447 square feet of storage space adjacent to the decommissioned space which would allow the landlord to combine the spaces to create a 8,934 square feet leasable space. The surrounding area features a strong concentration of national tenants, including Walmart, Tractor Supply Co, McDonald’s, Wendy’s, Sherwin-Williams, Shoe Sensation, Anytime Fitness, Starbucks, Domino’s, Subway, Taco Bell, and O’Reilly Auto Parts. Arkansas City is located 60 miles south of Wichita, and is home to Cowley College, a public community college with an annual enrollment of 2,166 students. The current population of Arkansas City is 11,761.