SOLD
OFFICE · SUCCESSFULLY EXITED
Noland Plaza
3675 S Noland Rd · Independence, MO 64055
3675 S Noland Rd · Independence, MO 64055
Type
Office
Hold Period
3 Years
IRR
34.0%
Equity Multiple
2.32x
Noland Plaza is a multi-tenant office building located in the Independence, Missouri sub-market of Kansas City. The property was acquired as a value-add opportunity with below-market rents and deferred maintenance, presenting an opportunity to reposition the asset through active management.
Over a 3-year hold period, the property was stabilized through tenant renewals, lease restructuring, and operational improvements. The investment generated consistent annual cash flow to partners throughout the hold and was successfully exited at a significant premium, delivering a 34% IRR and 2.32x equity multiple to investors.
Acquired at below-market basis, implemented capital improvements and lease-up program to drive NOI growth.
Delivered steady annual distributions to partners throughout the 3-year hold period.
Renewed and restructured leases with diversified tenant base in the Independence office market.
Property sold at a significant premium to basis, returning 2.32x invested capital to partners.
3675 S Noland Road is located in Independence, Missouri — the largest suburb in the Kansas City metro. The property sits along the well-trafficked S Noland Road corridor with excellent visibility and access to the surrounding commercial and residential areas.