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CBRE Arranges $16M Sale of Newly Developed Ohio Truck Stop, Retail Property
CBRE arranged the $15.6 million sale of a newly developed 7-Eleven (Speedway) truck stop and convenience retail property at 10030 Innovation Campus Way in New Albany, Ohio.
CBRE’s Melissa Marshall, Ian Schroeder and David McNevin represented the buyer, a private Southern California-based investor, in the acquisition. The seller was an Ohio-based commercial real estate developer. The 4,816-square-foot property sits on a 7.38-acre site at the entrance to the 9,000-acre New Albany International Business Park. The property is leased to 7-Eleven under a new 15-year triple-net lease.
“Gas station investments remain a top target for investors seeking durable income and highly desirable tax advantages like bonus depreciation,” said Marshall, senior vice president at CBRE. “This asset delivers immediate tax benefits, while the long-term lease and a site next to Intel’s new campus provide income stability and future growth.” The property is located within one of Central Ohio’s fastest-growing commercial corridors and is surrounded by major corporate occupiers and ongoing economic development activity.
