Blue West Capital is pleased to exclusively offer for sale a net lease multi-tenant shopping center in Salina, Kansas. Sunset Plaza shopping center includes long-term triple net leases to Dillons, a division of Kroger (NYSE: KR), and is priced below replacement cost at $73 per square foot. Kroger is an investment grade rated company (S&P: BBB) and 49.7% of the GLA is leased to investment grade rated tenant. Approximately $1,990,000 was invested into Dillons remodel in 2019 and Dillions added their fuel station in 2020 for an additional ~$2,000,000. Both McDonald’s and Dillons Fuel Station ground leases are included in sale.
The property is positioned on a dominant 7.69-acre signalized corner with quick access to I-135 with limited grocery competition in immediate area. Sunset Plaza also features six convenient curb cuts from Crawford and Broadway. There is limited grocery competition in immediate area and approximately 50,000 people living within 5 miles.