Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell, Inc., is pleased to exclusively present the opportunity to acquire a newly constructed, fully leased multi-tenant retail center located in Lee’s Summit, Missouri (the “Property”). Completed in early 2025, the Property is 100% occupied by a diverse lineup of national and regional restaurant tenants (30 Hop, Magic Noodle, Nick the Greek, and Chicken Salad Chick), making this an exceptionally rare offering comprised entirely of food operators. Each tenant has signed a lease with built-in annual rental escalations, offering investors an attractive inflation hedge. With a weighted average lease term (WALT) exceeding 11 years, the asset provides stable, long-term income and leases with attractive annual rent growth (+2.0%). The Property is also situated on a very large 3.71-acre parcel, which encompasses a 14,000-square-foot building and 253 surface-level parking spaces, providing an exceptional parking ratio of 18 stalls per 1,000 square feet.
The Property is strategically located within the Streets of West Pryor, a $200 million, 70-acre mixed-use project that combines premier retail, dining, grocery, and residential offerings. This vibrant development includes over 500 Class-A apartment and townhome units, a large-format grocery anchor, and a meticulously curated lineup of top national retailers. The retail component is anchored by McKeever’s Market and features high-profile tenants such as Starbucks, Shake Shack, Chase Bank, PNC Bank, Cava, and Firebirds Wood Fired Grill. The residential development includes The Summit (237 Class-A apartments), The Signature (184 Class-A apartments), and Vanguard Villas (83 townhomes), all of which are nearly 100% occupied, creating a dense and diverse built-in customer base and exceptional daily traffic. The Property’s strategic location offers excellent visibility from the NW Pryor Road exit at I-470, the main interstate that connects Lee’s Summit with downtown Kansas City, and which sees over 80,000 vehicles per day, and benefits from convenient ingress and egress via the first signalized intersection at the off-ramp.
The Property enjoys a prime location surrounded by some of the region’s most prominent retail destinations. Just across the street is Summit Woods Crossing, a fully occupied, 545,000-square-foot open-air regional center anchored by Target Supercenter and Lowe’s, along with top-tier junior anchors such as TJ Maxx, Best Buy, Petco, Michaels, and Total Wine. Drawing over 7.1 million visitors annually, Summit Woods is ranked the #1 most trafficked shopping center in Missouri (Placer.ai). Summit Fair Shopping Center is directly adjacent, a 500,000-square-foot open-air lifestyle center featuring more than 50 national retailers and restaurants.