6301-6621 W 119th St
Overland Park, KS 66209
The Fountains · Retail Property For Sale

The Fountains is an 89% leased, grocery anchored center that features strong national tenancy, and a weighted average lease term of almost 5 years. the center is anchored by a high performing Whole Foods, one of only 3 in the state of Kansas. The grocer comprises 23% of the GLA, and creates significant drawing power to the property. Complementing the Whole Foods is a diverse tenant line-up consisting of restaurant, service, fitness, medical, and specialty retailers including national names such as The Cheesecake Factory, Starbucks, Sherwin Williams, Walgreens, AT&T, and Calico Corners, amongst others. With 20% of the GLA signing new leases since 2018, including Sears, Sherwin Williams, YogaSix, Virtue Chiropractic, and MK Salon & Spa Suites, the center has enjoyed significant recent leasing momentum. There are three vacancies at the center totaling 14,068 square feet. The lease-up of these vacancies will allow a buyer the potential to add over $450,000 of income. Three separately parceled outlots exist at The Fountains, including a free-standing Cheesecake Factory, a AT&T and Starbucks outlot, and a LensCrafters, YogaSix, and Smashburger outlot. The spin off these buildings would afford a buyer the potential option of creating cap rate arbitrage by exiting individual components at an attractive yield differential.