CAI Investments, LLC, a property manager\/developer and private placement sponsor, has purchased a Cabela\u2019s retail establishment in Kansas City, Kansas for nearly $28.5 million. The property was purchased for a 506(b) Delaware statutory trust offering.<\/p>\n\n\n\n
The 164,100-square-foot property is fully occupied by Cabela\u2019s, a subsidiary of Bass Pro Shops that specializes in outdoor recreation products for camping, hunting, and fishing. The company said that the tenant is under a 25-year lease with contractually obligated annual rent increases.<\/p>\n\n\n\n
When asked why the firm acquired the property, CAI founder Christopher Beavor, said, \u201cThis Cabela\u2019s is located in an established submarket that drives visitors and shoppers to its location. We looked at their overall sales and growth during the pandemic and saw that they were well-managed during one of the worst economic times this country has seen.\u201d<\/p>\n\n\n\n
The Kansas City Cabela\u2019s is located within close proximity to two sports stadiums, a NASCAR raceway, waterpark, and other large retail establishments.<\/p>\n\n\n\n
Headquartered in Las Vegas, CAI Investments is a vertically integrated real estate development company that finances, develops and manages commercial properties in key markets across the United States.<\/p>\n\n\n\n