{"id":599896,"date":"2026-06-19T10:36:46","date_gmt":"2026-06-19T10:36:46","guid":{"rendered":"https:\/\/www.olympiajournal.com\/news\/story\/599896\/the-boulder-group-arranges-sale-of-net-leased-guitar-center-in-virginia-beach-msa.html"},"modified":"2026-06-19T10:36:46","modified_gmt":"2026-06-19T10:36:46","slug":"the-boulder-group-arranges-sale-of-net-leased-guitar-center-in-virginia-beach-msa","status":"publish","type":"post","link":"https:\/\/www.olympiajournal.com\/news\/story\/599896\/the-boulder-group-arranges-sale-of-net-leased-guitar-center-in-virginia-beach-msa.html","title":{"rendered":"The Boulder Group Arranges Sale of Net Leased Guitar Center in Virginia Beach MSA"},"content":{"rendered":"
\"The<\/a><\/div>\n
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Guitar Center property located at 5483 Virginia Beach Boulevard in Virginia Beach, Virginia for $2,850,000.<\/div>\n

The property is located at 5483 Virginia Beach Boulevard in Virginia Beach, Virginia, along a high-traffic retail corridor near the intersection of Virginia Beach Boulevard and Newtown Road. Virginia Beach Boulevard carries approximately 37,000 vehicles per day. Newtown Road carries approximately 35,000 vehicles per day. The property benefits from immediate proximity to the Interstate 264 and Interstate 64 interchange, which generate approximately 212,000 and 179,000 vehicles per day, respectively. Surrounding national retailers include Topgolf, La-Z-Boy, BMW, Audi, Toyota, Honda, Subaru, Costco, Walmart, TJ Maxx, Burlington, CVS, AutoZone, Rooms To Go, Black Rifle Coffee Company, and Carvana. Sentara Leigh Hospital is located less than one mile from the property. Virginia Wesleyan University, with approximately 5,000 students, is situated nearby. Bayside High School, with approximately 2,000 students, is also located in close proximity. The JANAF Shopping Center, anchored by Walmart, BJ’s Wholesale Club, and Goodwill, is adjacent to the corridor. More than 298,000 residents live within a five-mile radius of the property. The average household income within five miles exceeds $105,000. The population within three miles is approximately 110,440 residents. Virginia Beach is the most populous city in the Commonwealth of Virginia, with a population of approximately 455,000. The Virginia Beach MSA is ranked 37th in the United States by population size, with the broader Hampton Roads metropolitan area supporting a regional population exceeding 1.8 million. Norfolk International Airport is located within minutes of the property. Naval Air Station Oceana, a major military installation, is also situated within the city of Virginia Beach, Virginia.<\/p>\n

Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction. The seller was a private real estate partnership. The buyer was a local real estate investor.<\/p>\n

The lease is a double-net (NN) lease in which the landlord is responsible only for the roof, structure, and foundation. The lease expires on September 30, 2031, leaving approximately five years of remaining term. Guitar Center has been operating from this location since October 2000, demonstrating over 25 years of commitment to the site. Guitar Center has executed multiple lease extensions over its tenancy at this Virginia Beach, Virginia location. The lease includes two 5-year renewal options. Each renewal option features a 10% rental escalation. The 16,000-square-foot building sits on approximately 1.23 acres of land.<\/p>\n

Guitar Center Stores, Inc. is the largest musical instrument retailer in the United States, headquartered in Westlake Village, California. The company was founded in 1959 in Hollywood, California, originally operating under a different name before transitioning to its current focus on guitars and musical equipment in the mid-1960s. Guitar Center operates more than 300 retail locations across the country. The company offers a broad selection of products spanning guitars, basses, drums, amplifiers, keyboards, pro audio equipment, recording gear, and accessories. Guitar Center serves musicians of all skill levels through its nationwide retail network and its e-commerce platform. The company also operates additional brands including Musician’s Friend and Music & Arts as part of its broader portfolio. Guitar Center is a privately held company.<\/p>\n

“Net leased retail properties with established tenants and proven operating histories continue to attract strong investor interest across the market,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Guitar Center’s 25-year operating history at this Virginia Beach location, combined with multiple lease extensions and proximity to the Interstate 264 and Interstate 64 interchange, made this an attractive offering that generated competitive interest.” John Feeney, Senior Vice President of The Boulder Group, noted, “The buyer was drawn to the property’s strong yield profile at an accessible price point, supported by the dense surrounding population of nearly 300,000 residents within five miles and average household incomes exceeding $105,000 in the Virginia Beach MSA.”<\/p>\n

About The Boulder Group<\/strong><\/p>\n

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 $11 billion of single tenant net lease real estate transactions. From 2013–2025, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both CoStar and MSCI Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.<\/p>\n

www.bouldergroup.com<\/a><\/p>\n

###<\/p>\n

Media Contact<\/span>
Company Name:<\/strong> The Boulder Group<\/a>
Contact Person:<\/strong> Randy Blankstein
Email:<\/strong> Send Email<\/a>
Phone:<\/strong> 8478816388
Address:<\/strong>3520 Lake Avenue Suite 203
City:<\/strong> Wilmette
State:<\/strong> Illinois
Country:<\/strong> United States
Website:<\/strong> https:\/\/www.bouldergroup.com\/NNN-Properties-For-Sale.html<\/a><\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Guitar Center property located at 5483 Virginia Beach Boulevard in Virginia Beach,<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.olympiajournal.com\/news\/wp-json\/wp\/v2\/posts\/599896"}],"collection":[{"href":"https:\/\/www.olympiajournal.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.olympiajournal.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.olympiajournal.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.olympiajournal.com\/news\/wp-json\/wp\/v2\/comments?post=599896"}],"version-history":[{"count":0,"href":"https:\/\/www.olympiajournal.com\/news\/wp-json\/wp\/v2\/posts\/599896\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.olympiajournal.com\/news\/wp-json\/wp\/v2\/media?parent=599896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.olympiajournal.com\/news\/wp-json\/wp\/v2\/categories?post=599896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.olympiajournal.com\/news\/wp-json\/wp\/v2\/tags?post=599896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}