Marcus & Millichap sells retail center in Columbus market

September 19, 2022

Marcus & Millichap closed the sale of City BBQ & WesBanco Center, a 8,464-square-foot retail property in Gahanna, Ohio, in the Columbus market.

The asset sold for $3.725 million, which was 96 percent of list price and equates to a 6.5 percent cap rate.

CJ Jackson, first vice president in Marcus & Millichap’s Columbus office and member of the Patton|Wiles|Fuller team, led the deal with assistance from Erin Patton, Scott Wiles and Craig Fuller from the company’s Columbus and Cleveland offices.

Both the seller and buyer were private out-of-state investors.

The Class-A property is located in Gahanna, an inner ring suburb of Columbus, and was 85 percent occupied at the time of sale. There were about four years of weighted average lease term remaining and both tenants have been on site since the property was built.

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