PEBB Enterprises Sells Kansas Retail Property Leased to Tires Plus
Real estate investment firm closes sale of outparcel at its Pinnacle Village shopping center
BOCA RATON, FL and OVERLAND PARK, KS – PEBB Enterprises, a full-service private real estate investment company, sold a property leased to Tires Plus at its Pinnacle Village shopping center in Overland Park, Kansas. The $2.22 million transaction closed on Aug. 12.
The 7601 W. 119th St. outparcel is located within the site of the 126,909-square-foot Pinnacle Village center. PEBB acquired Pinnacle Village in May 2018.
Four Corners Property Trust purchased the 7,740-square-foot Tires Plus location from PEBB. Tires Plus is under a long-term triple net (NNN) lease for the outparcel.
The transaction went under contract before the onset of the COVID-19 pandemic. Yet, the sale moved forward without any price adjustments.
“This successful transaction underscores how the pandemic is not diminishing investor appetite for single-tenant, triple net leased properties,” PEBB President and CEO Ian Weiner said. “Our team continues to be bullish on Pinnacle Village and the surrounding area.”
Colliers NNN Group brokered the transaction.
In June, PEBB closed the $1.75 million sale of a 1.25-acre outparcel at Pinnacle Village. KC Dental and Oral Surgery purchased the property.
Pinnacle Village is anchored by DSW and Michael’s, with Target and Lukas Liquor Superstore as shadow anchors. The center is immediately adjacent to GRID Collaborative Workspace and across the street from Sprint World Headquarters.
For Pinnacle Village leasing inquiries, contact PEBB’s Chris Stewart or Jenny Schuemann at (561) 613-4020.
About PEBB Enterprises: Based in Boca Raton, FL, PEBB Enterprises is an entrepreneurial, full-service private equity real estate investment company. PEBB has operated as a family-owned business for more than four decades and takes pride in the company’s team of forward-thinking associates who continue to push and expand PEBB’s growth on a daily basis. PEBB has an unparalleled track record of acquiring and developing high-quality neighborhood, regional and power shopping centers, as well as suburban office buildings. The company’s vast portfolio includes properties in Florida, Texas, Nevada and numerous Midwest and Southeast states. For more information, visit https://pebbenterprises.com/.