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CBRE Arranges Acquisition of Newly Constructed Ohio Convenience Store
CBRE announced the acquisition of a single-tenant Sheetz convenience store at 495 Crescent Circle in Gahanna, Ohio, by 495 Crescent Circle Gahanna Ohio LLC, for $3.4 million in an all-cash 1031 exchange buyer transaction.
CBRE’s Karly Iacono represented the buyer in the negotiations. Stephanie Beaumier of Casto acted on behalf of the seller, CP Crescent, LLC. The asset is secured by a 15-year triple-net ground lease with Sheetz, a family-owned convenience store chain, providing long-term income stability for the investor.
The property features 12 fuel pumps and is part of the larger Crescent at Central Park project near S. Hamilton Road. “We identified this Sheetz location in Gahanna as the right fit for our client and closed an all-cash transaction that checks every box for a passive, long-term net lease investor,” said Iacono.
