Dicks Sporting Goods - Home Depot Plaza

Highlights:

• Early 5-year lease extension optioned
• Low, replaceable rent of $10.20/SF offers substantial investor downside protection.
• Shares a building with a corporate-owned Home Depot, and immediate highway access limits relocation risk
• The only DICK’S Sporting Goods in Topeka, with the nearest other location more than 25 miles away in Lawrence
• Ranks in the top 35% of nationwide sporting goods stores via Placer.ai

Description:

Single-Tenant DICK’S Sporting Goods (NYSE: DKS)
• Established Location: Successful 25-year operating history since construction in 2001.
• Lease Commitment: Executed early 5-year lease extension running through 2032.
• Tenant Capital: Self-maintains CAM, replaced the parking lot (2022), and invested $250K in the shoe section following DICK’S acquisition of Foot Locker in September 2025.
• Low Rent: Low, replaceable rent of $10.20/SF offers substantial investor downside protection.
• Irreplaceable Real Estate: Shares a building with a corporate-owned Home Depot, and immediate highway access limits relocation risk. (Contact broker for competitive retailer backfill offers.)
• Trade Area Dominance: The only DICK’S Sporting Goods in Topeka, with the nearest other location more than 25 miles away in Lawrence.
• High Foot Traffic: Ranks in the top 35% of nationwide sporting goods stores via Placer.ai.
DICK’S Corporate Strength
• Global Footprint: A leading global sports retailer with 3,104 locations across the DICK’S and Foot Locker businesses, including approximately 890 DICK’S Business stores.
• Record Net Sales: FY2025 consolidated net sales reached $17.22B (+28.1% YoY), driven by the Foot Locker integration and organic growth. FY2026 net sales are guided to $21.9B to $22.2B.
• Core Business: The standalone DICK’S Business generated $14.11B in FY2025 net sales and is guided to $14.5B to $14.7B in FY2026.
• Comp Growth: Posted 4.5% comparable sales growth in FY2025 and 4.9% in Q2 2026, driven by higher average ticket and transaction volumes.
Location & Infrastructure Logistics
• Huntoon St & Wanamaker Rd: Signalized intersection exposing the site to 35,000+ Cars Per Day (CPD).
• Interstate 470: Immediate, direct access to on/off ramps experiencing 37,000+ CPD.
• Interstate 70: Rapid connection to a vital Midwest freight corridor (63,000+ CPD) routing directly to Kansas City.
Regional Retail Synergy
• Retail Hub: Co-anchored by Home Depot and adjacent to Walmart Supercenter, Sam’s Club, Kohl’s and Best Buy.
• Trade Draw: Located in close proximity to West Ridge Mall, a 992,000 SF center anchored by Dillard’s and Furniture Mall of Kansas. The mall’s owner, Advisors Excel, is undertaking a multi-million-dollar redevelopment.
Topeka Macroeconomics
• State Capital: Kansas capital city and Shawnee County seat where six major highways converge.
• Corporate Anchor: Northeast Kansas economic engine hosting headquarters for Advisors Excel, Blue Cross Blue Shield, Hill’s Pet Nutrition, and Security Benefit.

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