Red Lobster investment property sells at Block & Company's Plaza at the Speedway development in Kansas City, KS
February 14, 2022
Block & Company, Inc., Realtors pleased to announce the sale of a freestanding restaurant property located in the Plaza at the Speedway in Kansas City, KS. The property, located at 10700 Parallel Parkway is currently under a long-term triple net lease with Red Lobster. The 7,575 square foot building sits on 1.5 acres of ground in the heart of Block & Company's 850,000 square foot Plaza at the Speedway development.
Alex Block and David M. Block of the Block & Company successfully represented the property ownership group in the investment sale transaction. The buyer, LPC Retail LLC, acquired the property for an undisclosed amount.
Development activity at the Plaza at the Speedway continues to make significant progress. Construction of a new Whataburger location is actively underway and is expected to be open in the near future. A new Tidal Wave Car Wash location recently completed its construction in 2021 and is now open for business.
Plaza At The Speedway currently has ground leases available or lots for sale ranging from 49,110 - 215,240 square feet. The power center features outstanding visibility to the more than 2 million square feet of retail and entertainment space. With close proximity to Sporting Park, Kansas Speedway, Legends Field, Great Wolf Lodge, and the Hollywood Casino, the tourism district draws over 14 million visitors annually.
For more information about Plaza at the Speedway call (816) 753-6000 or email us at info@blockandco.com.
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About Block & Company, Inc., Realtors Block & Company, Inc. Realtors is a full service commercial real estate company headquartered in Kansas City, Missouri since its inception in 1946. The firm's services include brokerage, development, investment, asset/property management, tenant representation, and corporate real estate services. Our commercial brokerage specializes in restaurant, retail, automotive, hotel, industrial, office, shopping center/development, commercial investments, asset/property management, and many other real estate services. With transactions extending to 187 cities in 35 states, Block & Company manages millions of square feet of retail, restaurant, office, and industrial space. Block & Company is proud to be known as one of the Midwest's premier full service real estate organizations, consistently ranked among the industry leaders by trade magazines, local business publications, and our industry peers.
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