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Chicago & Midwest  + Midwest  + Net Lease  | 
Carvana Warrensville OH

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.” 

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Inside The Story

CBRE's Shover

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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