Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Tenure Type Freehold
Lease Type NNN
Current / Passing Rent
Lease Expiration 2032-05-31
Remaining Term 11 years, 5 months
Tenant MAIN EVENT ENTERTAINMENT, LP
Building Area
Land Area ()

Property Description

JLL is pleased to offer for sale a freestanding single-tenant property leased to Main Event Entertainment, in a very affluent district of Kansas City, Missouri. It is strategically located adjacent to Interstate-29 (±92,000 VPD) in the Edgewood Farms development, which will feature over 225,000 square feet of retail space including a strip center with four freestanding restaurants and 275 apartments.

Built in 2017, Main Event Entertainment operates family entertainment centers offering bowling, laser tag, billiards, shuffleboard and arcade games, with 45 locations across the United States. It is the fastest-growing, most innovative entertainment operator in the United States. As the newest Main Event in Kansas City — which draws over 25 million tourists over the course of the entire year — the property possesses strong real estate fundamentals and long-term intrinsic value. 

Investment Highlights

• Fee simple interest

• Absolute NNN lease with over 12 years remaining

• Annual contractual rental increases and renewal options

• Footprint grown by over 125% over the last 5 years, serving 20 million annual guests

• Located in an affluent district with an average household income of $98,899 within a 3 mile radius

Last Updated Date: 02 Nov 2020
Peter Bauman
Senior Director, Capital Markets
Tivon Moffitt
Senior Director, Capital Markets

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Last Updated Date: 02 Nov 2020

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