We are seeking LP members to invest in a retail regional power center in St. Joseph, MO located 45 minutes north of Kansas City. The Shoppes at North Village is a multi-tenant retail shopping center with an exceptional mix of junior boxes and small shops, shadow anchored by best in class big box tenants, including Walmart (corporate-owned), Sam’s Club (corporate-owned), Home Depot (corporate-owned), Lowe’s (corporate-owned), Target (corporate-owned) and Kohl’s (Dallas based fund-owned).

We intend to hold this asset for 10 years, using a “3+7” strategy. During the first three years of the investment, traditional bank financing will be used to work though the lease renewal risk. After tenant renewals/replacements are secured, a cash-out refinance of the asset will allow for a significant portion of the original equity to be returned.

We like this investment given how insulated its location is from any other competitive developments, making it a true regional retail power center. Most of the tenant’s other locations are over 40 miles away. Household incomes in the northern edge of St. Joseph, where the property is located, are significantly higher than the city average ($90K vs $65K). Combining these attributes with a trade area of 250,000 people (60-minute drive time) make the Shoppes at North Village a compelling investment opportunity in the retail real estate space.