Kneaders Bakery | Shadow Anchored by Home Depot | New BTS Construction
Blue Springs, MO (Kansas City MSA)
Price: $2,850,000Cap Rate: 5.26%Building SF: 4,055 SFLot Size: 35,265 SFYear Built: 2017Status: Available

Investment Highlights: 

Kneaders Bakery & Cafe – Proven Tenant Concept with 20+ Year Operating History – 59 Locations in 8 States – The subject property is leased to Kneaders Bakery & Café with a Corporate Guaranty from Four Food Group Stores, LLC (See page 23-24 of OM). Founded in 1997 in Orem, Utah, the award-winning, fast-casual restaurant uses only the highest quality ingredients to create fresh European hearth breads, delicious sandwiches, mouthwatering pastries, hearty soups and refreshing salads, all made in-house each day. Kneaders Bakery & Cafe currently operates 59 locations in Arizona, Colorado, Idaho, Kansas, Missouri, Nevada, Texas and Utah.

Corporate Lease Guaranty with Strong Operator: Four Foods Group Stores, LLC – $190M in Annual Revenue – Currently Operates 155 Multi-Branded Restaurants Across the U.S.  – Four Foods Group (FFG) owns and operates 155 restaurants across the United States which include Little Caesars Pizza, Kneaders Bakery & Café, Swig, R&R BBQ and Mo’Bettahs. FFG was named the third fastest-growing restaurant operator in 2017 by Franchise Times, is a multi-time winner of “Best Companies to Work For,” and currently holds a 4.9/5.0 Glassdoor rating. Last month, FFG was also listed in the Inc. 5000 fastest-growing companies in the nation for the seventh consecutive time. The company employs over 4,400 people and reports over $190M in revenue annually (see page 24 of OM). They currently operate 43 Kneaders Bakeries and have 11 more restaurants in development.

Shadow Anchored by Home Depot – Outparcel to Walmart Supercenter – Retail Synergy Offers Strong Draw to the Trade Area – The subject property is shadow anchored by Home Depot, on an outparcel to Walmart Supercenter, creating a major customer draw to the immediate trade area. The location offers outstanding retail synergy with its proximity to national tenants such as Target, Michaels, Ulta Beauty, Kohl’s, TJ Maxx/HomeGoods, Ross Dress for Less, Five Below, Petco, Bath & Body Works, Gap, and maurice’s nearby.

New BTS Construction – New Long Term Absolute NNN Lease – Rent Growth – The subject property is a brand-new build-to-suit for Kneaders, completed in July 2017. The new 15-year NNN lease features 10% rent increases every five years in the Primary Term and (4) 5-year Option periods. The Absolute NNN nature of the lease, offering an investor a passive investment with income growth.

Proximity to St. Mary’s Medical Center (146-Bed Facility) – Award-Winning Elite Regional Health Care Provider – The subject property is one mile from St. Mary’s Medical Center, a 146-bed acute care facility providing 24-hour emergency service, a Joint and Spine Institute, a Primary Stroke Center, and an acclaimed Breast Imaging Center. St. Mary’s is among an elite group of providers and has earned numerous awards. It is the 2nd largest employer in Blue Springs with 545 employees. 

Located on Busy Retail/Business Corridor Along Interstate 70 – Quick Access to Downtown Kansas City – The subject property is located on NE Coronado Rd at NE Adams Dairy Pkwy, which sees combined traffic counts of 34,000+ cars per day. NE Coronado Drive is a major retail/commuter corridor to Interstate 70 (65,000 cars per day) connecting drivers to downtown Kansas City just 19 miles to the west. The subject property benefits from its location at the on/off ramp to the Interstate, offering easy on/off access. 


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977