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Costa Rican Buyer Picks Up Ohio Carvana Facility
CBRE arranged the $6.74-million sale of a Carvana facility in Warrensville, OH to a Costa Rica-based private investor. The firm’s Michael Shover and Matthew Gorman represented the buyer.
Located at 4070 Interchange Corporate Center Rd., the 8,408 square-foot property was originally constructed in 2017 on a four-acre site. The site is approximately 16 miles from Downtown Cleveland.
There were 17 years remaining on the lease at the time of sale that offered 10% rental increases every five years and was an absolute triple-net lease structure.
“Our Costa Rica-based client had a specific set of investment criteria and relied heavily on our expertise to help guide and educate them before settling on an asset,” said Shover. “We spent several months working with the buyer before narrowing in on the Carvana, which offers a blend of strong credit and a better than average yield in today’s market.”
- ◦Sale/Acquisition


