Historical Retail Sale Listing - Bridgestone / Firestone - Corporate NNN Lease

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Bridgestone / Firestone - Corporate NNN Lease

8431 North Madison Avenue, Kansas City, MO 64155

N/A

8,265 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
8,265 SF
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Additional Sub-types:
Vehicle Related
Retail (Other)
Retail Pad
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
6.75%
Occupancy:
100%
Tenancy:
Single
Year Built:
2012
Lot Size:
1.47 AC
Listing ID
17775652
Last Updated
over 1 year ago

Highlights

  • New, NNN, 15-Year, Corp. Lease w/ 6.5% Rent Bumps Every 5-Years
  • Bridgestone Retail Operations, LLC (Lessee) Operates 2,200+ Stores
  • Lessee: Subsidiary of Bridgestone Corp., World' s Largest Tire Maker
  • S&P Credit Rating: BBB+
  • Across From Barry Towne Shopping Center(494,645 SF) | Anchored by Target, Kohl's, & Babies R' Us
  • Located in Kansas City, MO | Population: 459,787 | 29th Largest MSA in US | MSA Population: 2.1 Million

Description

Automotive service is the largest part of Bridgestone Retail Operations, LLC's business, accounting for approximately 50 percent of sales with tire and financial services making up the rest. Bridgestone/Firestone, Inc. initiated a series of changes to its corporate structure in December 2001, reorganizing its operations in the Americas under a holding company, Bridgestone Americas Holding, Inc., and several operating subsidiaries. The largest of these operating subsidiary companies is Bridgestone Retail Operations, LLC. In 2001 Bridgestone/Firestone also announced its majority ownership stake in Morgan Tire & Auto, Inc. (MTA), then the nation's second largest independent retailer of tires. Responsibility for MTA was shifted to Bridgestone Retail Operations, LLC following the reorganization of Bridgestone/Firestone. Today, Bridgestone Retail Operations, LLC and its subsidiaries employ approximately 22,000 teammates in North America. Bridgestone Retail Operations, LLC consists of more than 2,200 company-owned consumer and commercial stores in the United States as well as the company's own credit card operations.

The Bridgestone/Firestone site is located at the Barry Road (19,074 Cars / Day) and Madison Avenue intersection. The tenant is relocating from its current location across US Highway 169 (28,594 Cars / Day) along Barry Road. US Highway 169 is a controlled access freeway that serves as a primary north-south commuter road connecting the Kansas City central business district with the fast growing suburban Northland area. Barry Road parallels Missouri Highway 152 (37,457 Cars / Day). The subject property is located at the entrance of Barry Towne (494,645 SF) shopping center which is anchored by Target, Kohl' s, and Babies R' Us and next to a 2-tenant building occupied by Verizon Wireless and Famous Footwear. A Casual Male store is also nearby.

Map of 8431 North Madison Avenue, Kansas City, MO 64155 (Clay County)

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