QuikTrip - Kansas City, MO (Store #169)
5108 Northeast Vivion Road, Kansas City, MO, 64119, US
₹639,009,000 | 551 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a single-tenant QuikTrip located at 4600 Gateway Avenue, Riverside, MO.
In June 2024, QuikTrip affirmed its long-term commitment to the Property by executing a new 10-year lease extension. The lease features rent escalations of $2.39 PSF every five years, zero landlord expense responsibilities, and ten, five-year renewal options.
Located 6.6 miles north of downtown Kansas City, the Property is positioned within a large 7.5-acre site adjacent to two business parks with access to over 164K residents in a five-mile radius. The area’s growth has been strong with 11.3% population growth since 2014. Further, the Property’s retail corridor performs exceptionally well with 4.3% vacancy and 21.6% rent growth since 2020.
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Attributes
Asking price
₹555,134,000
Cap rate
5.85%
WALT
9.3 years
Building area net
530 m²
Occupancy
100%
Year built
2015
Land area gross
3.04 ha
Media
Investment Highlights
- Purpose-built for QuikTrip in 2015 to its new "Gen 3" store format
- Recent 10-year lease extension with rent increases every five years
- Absolute NNN lease with zero landlord expense responsibilities
- Corporate guaranty from QuikTrip Corporation ("QT")
- Among the largest c-store operators with 1,085+ locations and $11B+ in revenue
- Hard corner & signalized intersection with 15,600+ VPD
- Near Highway 9 that connects the property to Downtown Kansas City
- Strong demographics with 164K population that has grown 11.3% since 2014
Contact brokers
QuikTrip - Riverside, MO (Store #170) (0 Properties)
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Last updated
3 Feb 2025
