119 Plaza

Investment Overview

119 Plaza is a multi-tenant 47,589 sf shopping center set on 2 tax parcels totaling 7.17 acres.  The 6.46-acre parcel has 2 buildings totaling 47,589 sf.  The other .71-acre parcel is ground leased to Panda Express.  The largest tenant is Goodwill, but the main attraction is Kansas City Joe’s BBQ.  Nearly 1 million dollars has been spent on property improvements over the past few years with well more than half of that expense on roofs and asphalt repairs/replacements.  There are 5 points of ingress/egress to the property and more than 30,000 vpd at the centers main signalized intersection.

Highlights

• Building 11912-11932 received a new roof in 2018; 13,250 sf.
• Building 11934-11950 received a new roof in 2023, 34,399 sf.
• Average tenure of existing tenants is 17 years.
• Weighted average remaining lease term is 5 years, 8 months.

Trade area discretionary income is 17% higher than the national average.