A California-based entity has paid $5.2 million for the property home to Gibson Guitar Corp.'s U.S. headquarters, according to Davidson County Register of Deeds documents.
The change of ownership hands comes less than a year after the site most recently sold.
Nashville GHC Associates LLC bought the property, which is located off Murfreesboro Pike on Plus Park Boulevard, from an entity led by Gary McDaniel. That entity acquired the property in May 2014 for $3 million.
Gibson leases the space.
Gibson Brands is further expanding its lineup of instruments and other gear via the launch of Neat Microphones, which the Nashville-based company will roll out at upcoming trade shows. Says former musician and division President Skipper Wise, who previously ran Blue Microphones: "Our products are designed to sound better, look better, and be simpler to operate, while helping to pass the torch of musical creativity and excellence to the next generation. Even better, Gibson understands that just because we’re making ground-breaking, serious products doesn’t mean we can’t have fun creating a brand and culture."
Gibson Brands wants to breathe new life into the iconic Sunset Strip retail space in Los Angeles that formerly housed Tower Records. The Nashville company has signed a 15-year lease and plans to spend more than $1 million to turn the 8,700-square-foot building into a showcase space for its various equipment brands as well as a live music venue. Gibson CEO Henry Juszkiewicz says his team wants to "retain that crazy vibe of Tower Records," which was long a focal point of the L.A. music scene.
"Live music is a tough business, and it's getting hammered," Juszkiewicz said. "What artists need to develop their craft is to get exposed to an audience and not have to fill 10,000 seats. Hopefully we will contribute to bringing out up-and-coming artists of all genres."
A federal judge has ruled the battle over United Kingdom-based John Hornby Skewes & Co.'s use of the Gibson guitar brand name will remain in a California courtroom, reports courthousenews.com. In January, Nashville-based Gibson sued, claiming the British distribution company was selling replicas of various Gibson guitar models to California-based retail stores and Internet customers. The court ruling is a victory of sorts for Gibson, given logistical considerations. Read more here.
Gibson Guitar has completed its tender offer for almost 55 percent of TEAC Corp., a Japanese company that makes audio and visual equipment as well as data storage equipment. TEAC will be folded into Gibson's operations but remain listed in Tokyo.