Hobby Lobby | Merriam Kansas
Retail
INDUSTRY LEADING TENANT
Hobby Lobby is the largest privately-owned arts-and-crafts retailer in the world with over
43,000 employees. They are currently ranked #79 on the Forbes Largest Private Employers list.
As of September, they had opened 38 new stores for the year with plans to continue adding to
their footprint in 2021.
HIGHLY PASSIVE NN LEASE
Hobby Lobby has approximately 9 years remaining on the primary term of their lease with a $0.50
PSF rent increase coming due in March 2025. With limited landlord obligations (Roof & Structure),
this is a high-quality asset that was built in 2015 and boasts a highly passive NN lease.
INFILL KANSAS CITY LOCATION – NEXT DOOR TO IKEA
The Subject Property is located off I-35 (VPD 130K) just 8 miles SW of Downtown Kansas City and across
the street from Kansas City’s only Ikea, which is the only Ikea within a 250 mile radius.
STRONG DEMOGRAPHICS WITH GROWING POPULATION
Within 5-miles, there are 220K people and over 95K households. The Kansas City MSA population has
grown by approximately 7.5% over the past 10 years, and nearly 20% over the past 20 years. This growth is
projected to continue through the next decade.
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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.