KANSAS CITY, MO - [May 30, 2023] – Blue West Capital has completed the sale of a single tenant Freddy’s Frozen Custard & Steakburgers property located at 13628 Washington Street in Kansas City, MO for $2,419,000. Zach Wright and Brandon Wright, of Blue West Capital, exclusively represented the repeat seller in the transaction. The seller was a Midwest-based development company and the purchaser was an all-cash California-based investor. The quick all-cash transaction closed in just 21 days.
The Freddy’s Frozen Custard & Steakburgers property features a new long-term net lease with no landlord responsibilities. The lease includes 10% rental increases every five years. The lease is guaranteed by M&M Custard, the 3rd largest Freddy’s franchisee. Freddy’s has approximately 450 locations and was the eighth Fastest Growing Chain in the U.S., according to Technomic.
The property is located at a signalized intersection just south of State Line Road and W 135th Street. The surrounding area is extremely affluent with average annual household income of approximately $180,000 within three miles. The Freddy’s is strategically located across the street from a Target-anchored development and from a Walmart Supercenter. The property will benefit from all the planned development along the W 135th Street corridor.
The Blue West Capital platform has an extensive track record of assisting owners of Midwest net lease properties sell for aggressive prices and terms. This transaction is another example of our ability to bring aggressive Western-based capital to a Midwest property.Zach Wright, Director & Partner.
QSR properties with long-term leases and strong operators are amongst the most sought after net lease investments.Brandon Wright, Associate
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