October 8, 2021 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of a Rib Crib in Garden City, Kansas. Horvath & Tremblay represented the buyer to complete this transaction at a sale price of $2,500,000.
Rib Crib is located at 1750 Lareu Street in Garden City, Kansas. The stand-alone building contains 4,645 square feet on a 1 -acre lot. Rib Crib has been at this location since its construction in 2015 and has 9 years remaining on a double-net lease, as well as three (3), 5-year renewal options. The lease calls for attractive rent increases of 5% every five years throughout the base term and at the start of each of the renewal options. The property benefits from outstanding visibility, frontage and access along US Highway 400 and is adjacent to the signalized intersection of US Highway 400 and E Kansas Avenue. The Property is an outparcel to a Menard’s and Dicks Sporting Goods anchored center, adjacent to a Sam’s Club and seconds from a Home Depot. Garden City is a city in and the county seat of Finney County, Kansas. The city is home to Garden City Community College and the Lee Richardson Zoo, the largest zoological park in western Kansas.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.