Block & Company, Inc., Realtors recently brokered a long-term net lease sale-leaseback transaction for the Red Lobster restaurant in The Plaza at Speedway located at 10700 Parallel Parkway in Kansas City, Kansas.
A group of local investors, assembled by Block & Company, Inc., Realtors Net Lease Group, purchased the Red Lobster property with an operating 7,028-square-foot freestanding restaurant pad building on a leaseback transaction.
David M. Block of Block & Company, Inc., Realtors negotiated this transaction, as well as the original land sale to Red Lobster/Darden Restaurants, Inc.
Red Lobster opened March 2011 in the 850,000-square-foot retail power shopping center located at Interstate-435 & Parallel Parkway in western Kansas City, Kansas. Other Plaza at the Speedway tenants include Walmart Supercenter, Sam’s Club, Kohl’s, Taco Bell, Olive Garden, Red Lobster, Chick-fil-A, Jack in the Box, Wendy’s, Logan’s Roadhouse and many others.
