Enduring Legacy and Kansas Ties

 Mace Siegel, Dana K. Anderson, and the MaceRich Company (later Macerich) have a fascinating origin story deeply tied to Topeka, Kansas, even though the company itself was founded in New York City. What began as a small strip-center developer in the mid-1960s exploded into one of the nation’s largest owners and operators of regional shopping malls through smart partnerships, a pivotal local deal, and aggressive growth via acquisitions and redevelopment. The Topeka connection—via a chance 1965 encounter and the 1972 acquisition of White Lakes Mall—was the spark that helped transform the company from a regional builder into a national REIT powerhouse.

The Founders and Early Days (1964–1965)

Mace Siegel (a real estate veteran who started in the business in 1952 after working for a brokerage focused on post-WWII shopping centers) partnered with his friend Richard Cohen, an experienced builder and developer. In October 1964, they combined their first names to create MaceRich Real Estate Company in New York City. Their initial focus was building strip shopping centers anchored by big discount stores (many with Arlan’s Department Stores as the anchor tenant). They developed about 18 of these early on, starting with one in Ames, Iowa. This model proved successful but was vulnerable when anchor chains like Arlan’s struggled.

The Topeka Connection: Dana K. Anderson Joins the Picture (1965–1966)

Here’s where Topeka enters the story in a big way. In 1965, Siegel and Cohen (along with Leonard Cohen) traveled to Topeka scouting properties for new shopping centers. Dana K. Anderson—a local Kansas real estate professional, KU School of Business alumnus from the Lawrence/Topeka area—was driving by and noticed them. He literally knocked on their car window to offer help (directions, local insights, or assistance with properties). Unbeknownst to him at the time, these were the founders of MaceRich.

Anderson brokered a deal for them on a stand-alone discount store in Topeka (which still operates today, most recently as Gordman’s). Impressed, he joined the company full-time in 1966. Anderson went on to have a 50+ year career with the firm, eventually becoming executive vice president, chief operating officer, and Vice Chairman Emeritus of the Board. His Kansas roots and hustle were instrumental in the company’s early Midwest expansion—he helped build 17 centers in the region and Annapolis, MD.

The Turning Point: White Lakes Mall and the Shift to Regional Malls (1972)

The real “blossom” moment came in September 1972 with MaceRich’s acquisition of White Lakes Mall in Topeka—the company’s first full regional shopping mall. (White Lakes had opened in 1964 as Topeka’s original enclosed mall.) Lacking the capital on their own, they formed a joint venture with Provident Life & Accident and Assurance Company to finance it. This deal was a game-changer: it marked the company’s pivot from building small strip centers to acquiring, owning, and redeveloping larger regional malls. It proved the model for future growth and established their reputation as the “Mall Doctor” for turning around underperforming properties.

Explosive Growth into a National REIT (1970s–Present)

From that Topeka foundation, the company expanded rapidly:

• Mid-1970s onward: They moved into Southern California (e.g., redeveloping the outdated Lakewood Center in 1975 into a thriving regional mall) and became experts at enclosing, expanding, and modernizing older malls. Headquarters eventually relocated to Santa Monica, CA.
• 1994: Went public as a REIT (real estate investment trust) on the NYSE under the ticker MAC on its 30th anniversary. This gave them access to massive capital for acquisitions without needing constant joint-venture partners. At IPO, they owned 15 properties (~10 million sq ft).
• Key later acquisitions that scaled them nationally: Westcor (2002, adding major Arizona and Colorado properties for $1.475 billion); Wilmorite Properties (2005, adding 11 centers including Tysons Corner for $2.333 billion); and many others. By the early 2000s they controlled dozens of regional malls (over 50 million+ sq ft at peaks).
• 2006: Officially rebranded from MaceRich to Macerich.

Today, Macerich remains a major publicly traded REIT (third-largest owner/operator of shopping centers in the U.S. at various points), focused on high-quality regional malls in strong markets, with ongoing redevelopment into experiential destinations. It owns interests in dozens of properties totaling tens of millions of square feet.

Enduring Legacy and Kansas Ties

The Topeka start—rooted in that 1965 car-window knock and the 1972 White Lakes deal—literally launched the modern Macerich empire. Anderson’s long tenure and local philanthropy (he’s a major KU supporter and has ties back to Lawrence/Topeka) kept the Kansas connection alive. Siegel remained a principal until later in life (he passed in 2011). The company’s story is a classic example of how a chance local opportunity in a Midwestern city like Topeka could fuel nationwide success in the retail real estate boom.

Your linked blog post (“Mace, Dana K., and the Enduring Legacy of Macerich: A Retail REIT Story”) seems to dive into exactly this narrative—celebrating the human element and Kansas roots behind the big REIT. If there are specific details from it you want me to expand on or cross-reference, just share! This Topeka-origin tale is a great piece of local business history.

Building & Structure Details

 ✅ Property Listing Statistics

Grandma Hoerner’s Foods Facility 31862 Thompson Road, Alma, KS 66401 Parcel ID: 099-079-30-0-00-00-004.00-0

Prime I-70 Highway-Service Industrial Property Total Land: 18.64 Acres Developed Commercial / Manufacturing Site

Land & Site Highlights

• Total Gross Acres: 18.64
• Market / Commercial Acres: 7.02
• Agricultural / Native Grass Acres: 11.51 (separate use valuation)
• Zoning: CP-3 – Planned Highway Service (allows commercial, manufacturing, and retail activity directly along Interstate-70)
• Location: Direct proximity to I-70 with semi-improved road access
• Topography: Rolling terrain, above street grade
• Parking: Off-street, on-site, adequate quantity
• Utilities: Rural water + lagoon septic system
• Ownership: Private fee-simple
• Site Classification: Developed site with buildings – primarily goods storage, handling, and light manufacturing

Building & Structure Details

Total Approximate Building Area: ~38,682 sq ft (across five integrated sections)

Main Structures (all metal-on-wood-frame construction):

• Storage Warehouse (Built 1997): 33,450 sq ft
  • Includes walk-in cooler (150 units) and walk-in freezer (150 units)
  • 18 ft height, single-story
• Mixed Retail / Office (Built 1997): 2,496 sq ft
  • Warmed & cooled air, mezzanine office space
• Light Manufacturing / Industrial (Built 1997): 2,496 sq ft
  • Warmed & cooled air
• Light Manufacturing Addition (Built 2008): 104 sq ft
• Storage Warehouse Addition (Built 2019): 136 sq ft

Key Site Improvements:

• Concrete paving with base (installed 1997 & 2000 – heavy-duty)
• Raised slab porch (2012) – 837 ft²
• Prefabricated storage shed (2012) – 82' × 91'
• Space heaters and canopy structures throughout

Property Use: Light industrial / miscellaneous manufacturing with significant storage, handling, and production capacity. Currently used for hot-fill food processing (jams, preserves, sauces, pie fillings).

Appraised Value (Wabaunsee County – Tax Year 2026):

• Commercial & Industrial: $481,020 ($97,850 land + $383,170 improvements)

This is a rare combination of size, location, and specialized food-grade infrastructure on Interstate-70 in Kansas — ideal for continued manufacturing, expansion, or owner-user occupancy.

In short, a sale-leaseback is often the cleanest way to turn your building equity into growth capital while making your life simpler, your costs more predictable, and your tax picture potentially more favorable over the long run.

 Here’s a clear list of the key advantages of doing a sale-leaseback when you own both the building and the business operating inside it (you sell the property to an investor and lease it back so your business stays put with no move). This strategy is popular for small-to-mid-sized businesses because it turns illiquid real estate equity into cash while letting you keep operating exactly where you are.

I’ll focus especially on the points you asked about—making things simpler and easier on yourself, potentially lower (or more manageable) lease payments, and capital-gains/tax implications—while including the bigger-picture benefits.

1. Immediate cash / liquidity without disrupting your business

• You get 100% of the property’s current fair-market value in cash (often far more than a bank would lend you at 60–80% loan-to-value on a mortgage).
• Use the proceeds for anything: expand the business, buy equipment, pay down debt, hire staff, or invest elsewhere for higher returns.
• Your business stays in the exact same location—no moving costs, no lost customers, no downtime.

2. Simpler and easier day-to-day operations (big win for “make it simpler on yourself”)

• You shed the headaches of property ownership: major repairs, roof/HVAC replacements, insurance claims, property-tax appeals, finding contractors, etc. Even in a typical triple-net (NNN) lease where you still pay most operating expenses, the new landlord now owns the asset and bears the ultimate long-term ownership risks and responsibilities.
• No more tying up your (or your staff’s) time on real-estate management—you can focus 100% on running and growing the business.
• Predictable budgeting: lease payments are usually fixed (or have modest, known escalations), versus the unpredictable spikes from ownership (sudden big repairs, fluctuating insurance/taxes). This makes cash-flow planning much easier.

3. Potentially lower or more manageable “effective” occupancy cost / lease payments

• Lease payments can often be structured lower than your current mortgage/debt service, especially if the buyer is an investor who benefits from depreciation and can offer “below-market” initial rents or favorable terms. Some deals even subsidize the early years because the buyer gets their own tax advantages.
• Full rent deduction: you deduct 100% of the lease payments as a straight business expense. When you owned the building you could only deduct mortgage interest + depreciation (not principal). For older buildings this often means bigger annual tax deductions.
• No debt covenants or refinancing risk: traditional loans usually have 5–10 year terms and restrictive rules; a sale-leaseback can lock in 10–20+ year terms with renewal options, giving you long-term stability without bank oversight.

4. Capital-gains and overall tax advantages (the “maybe less capital gains” angle)

• You do trigger capital-gains tax on the sale (sale price minus your adjusted basis), including depreciation recapture taxed as ordinary income. That is the main upfront tax hit.
• However, many owners end up with a net tax benefit over time because:
  • The larger, immediate rent deductions often exceed the old interest + depreciation deductions, lowering your taxable income year after year.
  • You can time the transaction to use net-operating losses, credits, or other offsets to reduce or eliminate the capital-gains bill in the year of sale.
  • Structuring options exist to soften the blow: installment-sale treatment (spread the gain over years), pairing with a 1031 exchange (if you simultaneously buy another investment property), or Qualified Opportunity Zone investments to defer gains. These aren’t automatic, but they are commonly used in sale-leasebacks.
• Bottom line: while the sale itself realizes the gain, the ongoing full deductibility of rent + removal of ownership costs frequently makes the overall tax picture better than continuing to own (especially for fully depreciated or low-basis buildings).

5. Balance-sheet and financing perks (makes future borrowing or selling the business easier)

• The property and associated debt come off your books → cleaner financial statements, better debt-to-equity ratios, and stronger appearance to banks or buyers.
• You improve creditworthiness and free up borrowing capacity for the business itself.

Quick reality check / things to watch

• You give up future appreciation and residual value of the building (though long-term renewal options can mitigate this).
• Lease terms are negotiable—strong credit and a desirable location help you get better rents, longer terms, and expansion rights.
• Always run the exact numbers with a tax advisor and commercial real-estate attorney (Kansas-specific state taxes and any local rules apply on top of federal). A good broker who specializes in sale-leasebacks can shop multiple investors to get the best price and lease terms.

In short, a sale-leaseback is often the cleanest way to turn your building equity into growth capital while making your life simpler, your costs more predictable, and your tax picture potentially more favorable over the long run. If you share rough numbers on your building value, basis, current mortgage, or what you want to do with the cash, I can help you think through whether it pencils out specifically for your situation.

Sale Lease Back - Confidential – For Qualified Investors Only

GRANDMA HOERNER’S FOODS, INC. Triple-Net Sale-Leaseback Opportunity

31862 Thompson Road, Alma, Kansas Direct I-70 Access | Modern Food-Grade Facility

40-Year Kansas Specialty Food Manufacturer Explosive Growth | National Retail & Private-Label Partnerships

Investment Highlights • Proven 40-year operator with heritage recipes and scalable manufacturing • Major new private-label awards secured with ALDI, Trader Joe’s, Buc-ee’s, UNFI and others • 2025 actual revenue: $12.0 million (50% growth) • 2026 forecast: $17.0–17.8 million revenue | $950,000+ EBITDA • 2027 roadmap target: $35.5 million revenue (new packaging formats, foodservice, club stores, expanded private-label volume) • Diversified revenue: Branded lines (Grandma Hoerner’s™, Big Slice Apples™, McCoy’s Real™) + high-volume private label • Retail partners: Costco, TJX Companies, World Market, Albertsons, Sprouts, KeHE, Hy-Vee and more • Certifications: USDA Organic, Non-GMO Project Verified, FSSC 22000, Made in USA

The Opportunity Grandma Hoerner’s owns and operates a modern, expandable food-processing facility on I-70 in Alma, Kansas. The company is seeking a $6 million sale-leaseback to unlock immediate equity from the real estate, deleverage the balance sheet, fund new production lines (pouch packaging, plastic squeeze bottles, small-format specialty items), and support working-capital needs for its 2× revenue growth trajectory.

The buyer/landlord will receive a 7% cap-rate return through an absolute triple-net (NNN) lease at $35,000 per month. The tenant retains 100% operational control under a 40-year NNN lease with annual escalators and renewal options.

Property Snapshot • Modern production facility with hot-fill glass-jar capability (8–40 oz) • 40,000+ units per shift capacity • Direct interstate access for national distribution • Ongoing equipment investments already in place • Food-safe, expandable site with strong residual value

Why This Is a Standout Credit Turnaround complete. Pricing stabilized. New multi-year contracts now in production. Once a private-label supplier is approved, retention and expansion become far less challenging. This is a growth-enabled real estate play — not just a building, but a cash-flowing credit tenant positioned for national scale in the booming specialty food category.

Structure • Sale price: $6,000,000 (market-value appraisal target) • Lease: 40-year absolute triple-net (NNN) at $35,000/month (7% cap rate) • Use of proceeds: Debt reduction + growth capex + working capital

Ready to move forward? Contact Henry McClure | 785-383-9994 | mcre13@gmail.com for the full CIM, financial package, growth roadmap, and property tour.

Grandma Hoerner’s Foods, Inc. 31862 Thompson Road, Alma, Kansas 66401 grandmahoerners.com | bigsliceapples.com

Confidential – For Qualified Investors Only

5. What Topeka Specifically Missed (The Recent Maverik Proposal) #mcre1

 A truck stop like a Maverik Adventure’s First Stop on a prime I-70 on/off-ramp site is a legitimate economic engine for a community — especially in a logistics-heavy state like Kansas. These facilities don’t just sell gas and snacks; they generate direct jobs, steady tax revenue, supply-chain spending, and multiplier effects that ripple through local businesses. Below is a data-driven deep dive based on industry reports, comparable examples, and Maverik’s own scale. I’ll also tie it directly to Topeka’s recent experience with the proposed Maverik project.

1. Direct Economic Contributions (Jobs + Local Spending)

Modern truck stops/travel centers typically employ 50–100+ people per location in full-time roles (cashiers, food prep, maintenance, managers, security).

• A single Love’s Travel Stop in Dickinson County, KS (I-70 corridor) created 60 new jobs when it opened.
• Construction phase adds another 50–100 temporary jobs and millions in local contractor spending.

Ongoing operations drive driver and traveler spending: Long-haul truckers (who stop for fuel, food, showers, and rest) spend $50–200+ per visit on non-fuel items. With thousands of daily vehicles on I-70, this adds up fast.

2. Tax Revenue and Fiscal Impact

Truck stops generate significant sales tax, property tax, and fuel-tax collections that flow to cities, counties, and the state.

• Nationally, the truck-stop/travel-center industry contributes over $22.5 billion in taxes annually (NATSO data). A single high-traffic site can produce $500,000–$2 million+ per year in combined local/state taxes, depending on volume.
• Fuel sales alone (diesel + gasoline) trigger excise taxes that fund roads and infrastructure — Kansas benefits directly from I-70 traffic.
• Property taxes on a 10-acre developed site rise dramatically once built (from farmland/agricultural rates to commercial). One Maverik project document referenced a total economic impact of $403.3 million tied to its operations (likely company-wide or for a cluster of sites, but illustrative of scale).

For a freeway-adjacent site like your parcel, the location maximizes capture of interstate traffic. I-70 is a major freight corridor; sites right at exits see 10,000–50,000+ vehicles daily, turning into reliable revenue even in slower economic periods.

3. Multiplier Effects and Broader Community Benefits

The “multiplier” (every $1 spent at the truck stop generates $1.50–$3+ elsewhere) comes from:

• Supply chain: Food suppliers, fuel distributors, maintenance vendors, and laundry services buy locally.
• Nearby businesses: Hotels/motels, restaurants, and retail see overflow from drivers needing overnight stays or extended breaks.
• Tourism & local traffic: Clean, modern stops (Maverik’s BonFire fresh-food model + adventure branding) attract families and RVs too, boosting weekend and leisure spending.
• Freight economy support: Reliable truck parking/fueling keeps Kansas’s logistics sector competitive (Topeka sits at the crossroads of I-70 and other routes).

Studies from NATSO and state economic development offices consistently show travel centers as net-positive for rural or suburban exits — they revitalize underused land, increase surrounding property values modestly, and rarely displace existing retail when properly zoned.

4. Maverik-Specific Numbers and Performance

Maverik (Adventure’s First Stop) is privately held under FJ Management, so exact per-store sales aren’t broken out publicly. Here’s what reliable sources show:

• Company scale: 800+ locations across 20 states (post-2023 Kum & Go acquisition that doubled its footprint for ~$2.25 billion).
• Parent revenue: FJ Management (Maverik’s owner) reported $7 billion in recent annual revenue.
• Industry benchmarks for similar stores: High-performing modern travel centers average $2.4 million+ in non-fuel (“inside”) sales per year, plus millions more in fuel volume. Maverik’s focus on fresh BonFire food, clean facilities, and rewards programs drives higher dwell time and spend than traditional gas stations.

A well-placed Maverik on an I-70 ramp (like the one proposed for Topeka) would sit in the upper tier of that range because of steady interstate traffic + Kansas’s freight volume. Comparable sites often hit $10–20 million+ total annual revenue (fuel + inside sales).

5. What Topeka Specifically Missed (The Recent Maverik Proposal)

In 2025, a Maverik project near I-70 and Fairlawn (6th Street area) went before Topeka’s planning commission. Neighborhood concerns about traffic led to recommendations that eliminated diesel pumps and a weigh station — effectively turning a full truck stop into a limited car/RV fuel site. The rezoning was sent back to city council with those restrictions.

That decision removed the high-margin diesel/truck component that drives the biggest economic returns.

• Lost opportunity: 50–60+ direct jobs, hundreds of thousands in annual tax revenue, and the multiplier spending from truckers who would have supported nearby hotels, restaurants, and services.
• The parcel you’ve been visualizing (right off I-70 with easy on/off access) is exactly the type of “shovel-ready” highway site economic developers chase. Kansas already benefits from Love’s and other stops along I-70; adding a Maverik-style facility would have layered on modern food/service amenities that attract even more traffic.

Communities that embrace these projects (with proper traffic mitigation) see measurable gains: more local employment, stronger sales-tax collections without raising rates, and a boost to the logistics sector that keeps Kansas competitive for distribution/warehousing jobs.

Bottom line: Canceling or heavily restricting a Maverik truck stop on a perfect I-70 site isn’t just missing a gas station — it’s forgoing a multi-million-dollar annual economic contributor that pays for itself many times over in jobs and taxes. Other Kansas towns have welcomed similar developments and seen the upside. If the city revisits the idea with data-driven zoning (e.g., separate truck routing), the parcel you highlighted could still deliver exactly that value.

Absolute NNN lease

 Executive Summary: Grandma Hoerner’s Foods – Premier Sale-Leaseback Opportunity

Grandma Hoerner’s Foods, Inc. is a 40-year-old, Kansas-based specialty food manufacturer with a proven track record of supplying premium jams, preserves, sauces, pie fillings, and private-label products to national retailers and distributors. Headquartered in a modern, owner-occupied facility at 31862 Thompson Road, Alma, Kansas (directly on I-70 with excellent logistics access), the company is experiencing strong growth following a successful turnaround.

After navigating prior-year revenue softness and 2025 tariff-related margin pressure, Grandma Hoerner’s has stabilized costs through pricing adjustments and secured major new private-label awards with ALDI, Trader Joe’s, Buc-ee’s, UNFI, and others. This has driven 50% top-line growth in 2025 (to $12.0 million) and positions the company for ~40% additional growth in 2026, with Q1 2026 revenue already exceeding $4.17 million. The 2026 forecast shows $17.0–17.8 million in revenue and $950,000+ in EBITDA. Strategic initiatives outlined in the company’s growth roadmap project $35.5 million in revenue by 2027, fueled by new packaging formats (pouches, plastic squeeze bottles, small-format specialty jars), expanded channels (foodservice, club stores, e-commerce), and incremental private-label volume.

The company owns its state-of-the-art production facility (reflected in fixed assets with building & improvements at $1.44 million gross and net fixed assets of $1.42 million as of 12/31/2025). A triple-net (NNN) sale-leaseback is the ideal capital solution: it unlocks immediate liquidity from the real estate (well in excess of book value given location, infrastructure, and expansion-ready site), allows the company to pay down high-interest debt (total liabilities $5.73 million, negative equity position), fund capex for new lines (pouch equipment, fillers, labelers), and support working-capital needs—all while retaining 100% operational control under a 40-year NNN lease with annual escalators and renewal options.

Why this is a standout sale-leaseback credit:

• Proven operator with sticky revenue: Once approved as a private-label supplier, retention and expansion are “far less challenging” (per company materials). Major partners include Costco, TJX Companies, World Market, Albertsons, Sprouts, KeHE, and more.
• Diversified, high-margin product portfolio: Branded lines (Grandma Hoerner’s™, Big Slice Apples™, McCoy’s Real™) plus private-label and co-manufacturing across fruit spreads, bacon jams, pepper jellies, pie fillings, salsas, BBQ sauces, organic reduced-sugar items, and more.
• Certifications that open doors: USDA Organic, Non-GMO Project Verified, FSSC 22000, Made in USA, From the Land of Kansas.
• Scalable manufacturing: 40,000+ units per shift, hot-fill glass jars (8–40 oz), flexible small-batch/high-volume capability, ongoing equipment investments.
• Clear use of proceeds: Debt reduction + growth capex = stronger balance sheet and accelerated EBITDA.
• Location advantage: I-70 frontage ensures low-cost national distribution.

A sale-leaseback here delivers immediate cash to fuel 2× revenue growth, a credit tenant with national brand recognition, and a modern food-grade facility in a logistics-friendly location—creating a compelling, low-risk investment with strong residual value and upside from the tenant’s expansion.

Contact for this Triple-Net Sale-Leaseback Henry McClure 785-383-9994 mcre13@gmail.com

Maverik Adventure's First Stop stores follow a modern, customer-focused prototype design that emphasizes an open, airy interior, strong sightlines for security (from the point-of-sale counter), and a strong "Adventure's First Stop" theme with immersive outdoor-inspired murals, wood accents, and vibrant graphics. Newer stores typically range from about 4,400–6,000 sq ft for the convenience store building itself, with total site development often on 3–10+ acres depending on truck/RV amenities.

Typical Store Interior Layout

• Entry and Customer Service: The point-of-sale counter is positioned near the main entrance for quick greetings by staff ("Adventure Guides") and excellent visibility across the store to deter theft.
• BonFire Grill (Food Service): This is front-and-center upon entry — an open kitchen/prep area where customers can see fresh food being made daily (burritos, sandwiches, wraps, pizzas, salads, mac & cheese bowls, smoked meats, etc.). It creates an immediate "fresh food" impression rather than hidden back-of-house prep.
• Beverage and Cold Sections: Large beverage coolers, extensive soft drink and coffee fountains, and nitro/bean-to-cup options are prominent.
• Merchandise and Essentials: Well-stocked shelves for snacks, travel items, camping gear, beer/wine (where allowed), and convenience goods. The layout flows logically from food → drinks → general merchandise.
• Seating: Indoor seating areas (tables/chairs) plus outdoor picnic/seating zones adjacent to entrances.
• Back-of-House: Employee hallways provide efficient access to kitchen, storage, restrooms, and restocking without disrupting the customer experience. Restrooms are known for being exceptionally clean and well-maintained.
• Theming: Murals and wallpaper feature adventure/outdoor scenes (local landscapes, wildlife with fun twists, maps, etc.) to bring the "outdoors in." Timber/wood looks are standard, creating a warm, rugged lodge-like feel rather than sterile c-store vibes.

The overall flow is designed to be spacious and intuitive, encouraging longer dwell time for food and drinks while keeping quick-grab items accessible.

Site Layout and Exterior (Especially Truck-Friendly Versions)

For locations with truck/RV capabilities (like the larger ones in your area of Kansas or similar highway sites):

• Fueling: Multiple canopies with 20–30+ pumps total. Separate or dedicated diesel lanes/truck islands for semis, plus standard gas pumps. Some include high-speed commercial islands.
• Parking and Circulation: Ample paved parking (often 50+ spaces), organized truck parking rows for 18-wheelers, car/RV areas, and good internal loops for easy in/out flow. RV dump stations and water fill are common on truck-oriented sites.
• Building Placement: The store is usually positioned for strong highway visibility, with the BonFire signage and large windows prominent. Entrances often face the fuel forecourt or parking.
• Additional Amenities: Landscaping, outdoor seating/picnic areas, and sometimes dedicated truck scales or bays. Sites are designed with right-in/right-out or full-access driveways depending on local roads, prioritizing safe truck maneuvers.
• Example Sizes: A typical truck-friendly build might include a ~5,982 sq ft store + canopies on ~9–10 acres (very close to your parcel size), with 31+ fuel positions and 50+ parking spaces.

Your current rendering already captures the spirit well — a compact, highway-visible Maverik with prominent red/black branding, fuel canopies, BonFire elements, and truck/car parking. It aligns nicely with their real prototypes: open site flow, visible food service, and adventure-themed appeal that stands out to travelers on I-70.

Cost to you: Listed in FDDs as $12,000–$50,000 (varies by brand, market, and study depth). Wyndham's development team can sometimes provide their own market insights or assist with site selection to supplement or reduce the need for a full independent study.

 A hotel feasibility study (often called a market feasibility study or market study) is a core document that Wyndham's franchise sales and real estate teams review as part of evaluating potential new-build or conversion franchise opportunities. These studies help them determine if a proposed hotel site or property makes sense for one of their brands (e.g., Days Inn, Super 8, Ramada, La Quinta, Microtel, Wingate, etc.), whether it will perform well enough to support franchise fees, and if it qualifies for any development incentives.

Wyndham (the world's largest hotel franchisor by number of properties) doesn't publicly list a rigid "must-have" feasibility study requirement on its development site, but industry practice, FDDs, and their own processes show it's a standard expectation or strong factor in approvals. The real estate guys you spoke with in franchise sales are typically the ones who evaluate these studies during site approval, franchise applications, or incentive reviews. They use them to assess risk, brand fit, market viability, and long-term revenue potential for Wyndham Rewards and system-wide performance.

Why Wyndham Cares About Feasibility Studies

• Site/franchise approval: Site selection for new construction or conversions often requires (or benefits from) a positive third-party study. It confirms the location won't oversaturate the market and aligns with Wyndham's portfolio (they generally don't grant exclusive territories, but they consider "Areas of Protection" on a case-by-case basis).
• Development incentives: For new builds or conversions, Wyndham may offer incentives (e.g., reduced fees, loans, or support—sometimes up to thousands per room for qualifying owners). A key factor they explicitly weigh is a feasibility study, along with market overview, surrounding hotels, demand drivers, location, and room count.
• Lender and internal risk management: Banks, SBA lenders, and Wyndham's team want proof the project will generate enough revenue to cover construction/renovation, operations, and the 4–5% royalty + 3–5% marketing/reservation fees.
• Cost to you: Listed in FDDs as $12,000–$50,000 (varies by brand, market, and study depth). Wyndham's development team can sometimes provide their own market insights or assist with site selection to supplement or reduce the need for a full independent study.

Studies are usually prepared by reputable independent firms (e.g., HVS, PKF, or similar hospitality consultants) using nationally recognized methodologies. Wyndham may review or even recommend firms.

What the Real Estate/Franchise Sales Team Is Looking For: Key Components of a Strong Study

A typical hotel feasibility study for Wyndham follows a standard industry methodology (e.g., as outlined by firms like Hotel & Leisure Advisors). It's not just a "yes/no" report—it's data-driven with projections over 5–10+ years. The team scrutinizes it for realism, brand alignment, and red flags like oversupply or weak demand generators.

Here's a breakdown of the main sections and what Wyndham's team specifically evaluates:

1. Area, Demographic, and Economic Overview
   • Population trends, household income, employment (major employers, offices, tourism drivers), transportation access, and growth projections.
   • What they want: Strong, diversified demand drivers (business travel, leisure/tourism, groups, extended-stay, or contract). For Wyndham's economy/midscale focus, they like stable corporate or roadside locations with limited high-end competition. Weak or declining markets are a deal-breaker.
2. Site Evaluation
   • Size, visibility, access (highway/interstate, airports), topography, utilities, zoning, environmental issues (Phase I reports often tie in), and proximity to demand generators (attractions, universities, hospitals, etc.).
   • What they want: Site suitability for their prototypes (e.g., cost-efficient designs like La Quinta's Del Sol or dual-brand options). They check for easy brand compliance in design/construction.
3. Competitive Supply and Market Analysis
   • Detailed comp set (existing and pipeline hotels within the primary/secondary market). Performance data on occupancy, ADR (average daily rate), RevPAR (revenue per available room), and market segmentation (transient vs. group, etc.).
   • Historical trends and future supply risks.
   • What they want: Evidence your project fills a gap (e.g., limited service in an underserved segment) without cannibalizing other Wyndham properties. They look at penetration rates and how your hotel would capture market share.
4. Demand Analysis and Projections
   • Room-night demand forecasts by segment, projected occupancy, ADR, and RevPAR for the proposed hotel (often 3–5 years stabilized).
   • What they want: Conservative, realistic numbers that support Wyndham's fees and your debt service. They cross-check against their internal data and brand performance reports (in the FDD). For conversions, they also review the property's current performance history.
5. Financial Pro Forma and Feasibility Conclusion
   • Detailed income/expense projections: revenues (rooms + ancillary), departmental expenses, undistributed operating expenses, fixed costs, net operating income (NOI), cash flow, ROI, break-even analysis, and discounted cash flow valuation.
   • Comparison of projected property value vs. total development costs (construction, land, FF&E, etc.).
   • Sensitivity analysis (best/worst-case scenarios).
   • What they want: Positive feasibility—i.e., the hotel creates value exceeding costs, with strong enough margins to thrive under Wyndham branding. This directly ties into incentive decisions and overall approval.
6. Recommendations and Brand Fit
   • Suggested room count, amenities, prototype alignment, and sometimes even brand recommendations (many studies are brand-agnostic but can be tailored).
   • What they want: Clear alignment with a specific Wyndham brand's standards, prototypes, and guest experience. For example, cost-effective designs that prioritize rentable square footage.

The Process in Practice (From Application to Approval)

• You submit a franchise application (background, financials, business plan, site details).
• Real estate/franchise sales reviews the package—including any feasibility study you provide.
• Wyndham's Design & Construction team may get involved for prototype compliance (new builds) or PIP (Property Improvement Plan) for conversions.
• If it looks promising, they may offer incentives or proceed to Franchise Agreement.
• Timeline: Conversions can open in <90 days in many cases; new builds take longer.

Bottom line: The real estate team wants proof the project is viable, low-risk, and a good fit for Wyndham's system—not just today, but for the 15–20-year franchise term. A strong, independent study from a credible firm goes a long way toward getting a "yes," especially if it shows solid demand and financials that support their royalties.

If you're preparing one or have a specific site/brand in mind, I recommend reaching out to Wyndham's development team directly (via their site) for guidance—they often help with market insights. Let me know if you want help finding sample studies, recommended firms, or digging into a specific brand's FDD!