Net Leased Skechers Property Sale Arranged Date April 19, 2019
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Sketchers property located at 6740 W 119th St in Overland Park, Kansas for $1,475,000.
The net leased Skechers property is located in a thriving retail corridor of Kansas City. The 6,415 SF building is immediately next to Walmart Supercenter, Kohl’s and Sprint’s corporate headquarters (6,300+ employees). Sprint’s headquarters is comprised of 17 buildings and is located on more than 200 acres. Other retailers in the immediate area include Costco, Target, Best Buy, Whole Foods, AMC, Dick’s Sporting Goods, Restoration Hardware, Apple, and Town Center Plaza & Crossing (Macy’s, Lululemon, Athletica, Gap, William Sonoma). The Skecher’s property is positioned just off of Metcalf Avenue (44,000 VPD) and along W 119th St (34,200 VPD) which is a primary east-west thoroughfare. Metcalf Avenue is also one of the largest and busiest thoroughfares in Johnson County. The Skecher’s property is also located just west of the Menorah Medical Center which has 158 Beds and has a world-class medical staff with more than 600 physicians and is near Saint Luke’s South Hospital (125 beds) which is currently undergoing an expansion. Additionally, the property is located near Blue Valley North High School (1,550 Students), Hyman Brand Hebrew Academy and the Jewish Community Center of Greater Kansas City which drives continual traffic to the retail corridor.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based Real Estate Company. The buyer was a real estate investment company based in the west coast.
“Short term leased assets with low rent, are an attractive way for investors to garner yield” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties with strong real estate fundamentals continue to be in demand with all investor classes.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $5 billion of single tenant net lease real estate transactions. From 2012-2018, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.comBack