Cabela’s sells local real estate for $35.5M

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Cabela’s sells local real estate for $35.5M

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Cabela’s has sold its West Chester Twp. and Cornerstone of Centerville real estate for $35.5 million.

The outdoor retailer, which sells hunting, fishing and camping gear, opened its first location in the Dayton area in 2016 when it cut the ribbon on the Cornerstone of Centerville store.

Cabela’s sold the Centerville store at 5500 Cornerstone North Blvd. for $14.3 million, according to Greene County property records. The sale recorded Sept. 29 was to a limited liability company that appears affiliated with Starwood Capital, a real estate investment firm based in Greenwich, Conn.

Its West Chester Twp. store at 7240 Cabela Drive sold for $21.2 million. The sale was also recorded Sept. 29 and was to a limited liability company that appears affiliated with STORE Capital, a real estate investment firm based in Scottsdale, Ariz.

The demand in the Greater Cincinnati area is strong for deals where investment firms buy real estate and lease it back to a single tenant like Cabela’s, according to a recent article in RE Journals, an industry publication.

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