Chicago, IL (December 11th, 2019) – Quantum Real Estate Advisors, Inc. has just completed the sale of a freestanding 55,000 square foot Hobby Lobby located at 520 East Markey Parkway, Belton, MO. The property sold for $5,365,853. There were approximately 12 years left on the initial 15-year lease at the time of sale. The Seller was a Kansas City based developer who specializes in acquiring and developing shopping centers across the country. The buyer was a California based investment fund. Both Dan Waszak, Senior Vice President and Zack Hilgendorf, Vice President of Quantum Real Estate Advisors, Inc. represented the seller in the transaction.
The selling broker, Mr. Zack Hilgendorf said, “Big box retail is still favorable amongst investors, especially a tenant that is so highly regarded such as Hobby Lobby. While they are not currently rated, they are universally regarded as a strong company with excellent corporate financial fundamentals.” Mr. Waszak added, “this transaction is yet another example of the continued strength of the net-lease market.”
Quantum Real Estate Advisors, Inc. (www.qreadvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management and financing.