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Off Market
1/15

6301-6621 W 119th St
Overland Park, KS 66209


HIGHLIGHTS

  • Premier grocery anchor.
  • Strong surrounding workforce and daytime population.
  • Recent leasing momentum.
  • Affluent demographic base.
  • Significant upside potential.
  • Dominant metro trade area.

OVERVIEW

The Fountains is an 89% leased, grocery anchored center that features strong national tenancy, and a weighted average lease term of almost 5 years. the center is anchored by a high performing Whole Foods, one of only 3 in the state of Kansas. The grocer comprises 23% of the GLA, and creates significant drawing power to the property. Complementing the Whole Foods is a diverse tenant line-up consisting of restaurant, service, fitness, medical, and specialty retailers including national names such as The Cheesecake Factory, Starbucks, Sherwin Williams, Walgreens, AT&T, and Calico Corners, amongst others. With 20% of the GLA signing new leases since 2018, including Sears, Sherwin Williams, YogaSix, Virtue Chiropractic, and MK Salon & Spa Suites, the center has enjoyed significant recent leasing momentum. There are three vacancies at the center totaling 14,068 square feet. The lease-up of these vacancies will allow a buyer the potential to add over $450,000 of income. Three separately parceled outlots exist at The Fountains, including a free-standing Cheesecake Factory, a AT&T and Starbucks outlot, and a LensCrafters, YogaSix, and Smashburger outlot. The spin off these buildings would afford a buyer the potential option of creating cap rate arbitrage by exiting individual components at an attractive yield differential.

FOR SALE DETAILS

PRICE

-

CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

The Fountains

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

102011

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

692

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

NP85380000-0004,NP85380000-0005