JUST SOLD - Guitar Center Triple Net Lease (NNN) Investment Sale in Independence, MO
February 17, 2015
Block & Company, Inc., Realtors recently sold Guitar Center to a private 1031 Exchange buyer at a 7.2% CAP rate. The 15,418 square-foot building is located at 3911 Bolger Road on the northwest quadrant of I-70 & 291 Highway in Independence, Missouri.
This freestanding building sits at the at the only entrance drive to Walmart Supercenter, Petsmart, and Sam's Club and is across the street from Independence Center Mall, Bass Pro Shop, Target, Macy's, Sears, Costco, Lowe's, Dillards, JC Penney, Dick's Sporting Goods, and many others. The I-470 / I-70 retail corridor in eastern Jackson County (Independence) is considered to be one of the most active retail areas in metropolitan Kansas City. This regional power center area boasts over 3 million square feet of retail and is still growing. Independence, Missouri is the fourth largest retail market in Missouri. Guitar Center is the largest guitar retailer in the United States with 225 stores.
David M. Block, Max Kosoglad, and John Cobb of Block & Company, Inc., Realtors negotiated this sale transaction.
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