RibCrib

3704 Faraon Street | St. Joseph, Missouri 64506

Contact Brokers

Kevin Kelii - Garner Headshot Edit_edited_edited.jpg

James Garner, CCIM
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

Kevin-Keli---Shiebler-2-Edit_edited_edited.jpg

Jim Shiebler, CCIM, CEC

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

JamesM_01_1500x2250px_72dpi - Copy_edited.jpg

James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com
(O) 813-387-4788
FL #SL3216834

Highlights

  • 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)

Description

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.