Gibson Guitar property under contract

Local investor to buy site home to iconic music company offices

The airport-area property home to the offices of iconic Nashville-based company Gibson Guitar Corp. is seemingly under contract, with local investor Gary McDaniel seeking to purchase it for an undisclosed sum.

The two-building property sits on 3.56 acres with at 309 and 311 Plus Park Blvd. MCPA-Plus (TN) Associates bought the property in March 2001 for $4.3 million. It most recently appraised for $2.12 million in January 2013. (See the site in the below image courtesy of Google Maps.)

MCPA-Plus has a New York address but, according to Metro documents, tax bills are sent to Gibson Guitar Corp., located at 309 Plus Park Blvd.

The 309 building is home to Gibson Guitar Corp. and Gibson affiliate Epiphone Co. (Baldwin Piano Inc.). The 311 building has multiple non-Gibson tenants.

According to a source familiar with the looming transaction and who asked to go unnamed, tenants in the non-Gibson building are being asked to verify their lease status with the owner via an estoppel letter. McDaniel’s name is on the letter with the word “purchaser” noted, the source said.

Neither Gibson officials nor McDaniel could not be reached for comment.

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