3704 Faraon Street | St. Joseph, Missouri 64506
James Garner, CCIM
First Vice President InvestmentsJames.Garner@MarcusMillichap.com
Jim Shiebler, CCIM, CEC
First Vice President Investments
Senior Vice President Investments
Lease Guarantee Size & Strength - The lease is backed by Panhandle Restaurant Group's corporate entity, which currently has 30+ units operational and another 10-20 locations targeted for construction.
Brand / Concept - Based in Oklahoma, the concept knows Barbeque to the bone and in 2005 was named in Restaurant Business magazine's Top 50 Growth Chains.
Percentage Rent - There is additional upside for a landlord as the lease also includes a percentage rent clause to capture additional income as the store ramps up its sales volume.
Tenant's Commitment to Site - The tenant is spending money into a retrofit of the subject property location, which speaks to their commitment to the site long-term.
Outparcel to Top Performing Hy-Vee Nationwide (Per Placer.ai Data)
Marcus & Millichap is pleased to present RibCrib, a rare investment opportunity for an investor to purchase a truly iconic brand with a proven track record of success in the submarket of St. Joseph, MO. The lease is backed by Panhandle Restaurant Group's corporate entity, which currently has 30+ units operational and another 10-20 locations targeted for construction or acquisition to be operational in the next 12 months. This is an opportunity to invest in a guarantee that is slated to grow significantly over the next several years allowing the new owner to inherit a stronger guarantee with each new location they open. In addition, the deal is backed by Personal Guarantee's by the operators with a combined net worth of over $20MM. There is also additional upside for a landlord as the lease also includes a percentage rent clause to capture additional income as the store ramps up its sales volume. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.