Case Study: 7-Eleven – New Albany Mink and Innovation
This project involves the development of a 7-Eleven gas station and convenience store at the corner of Mink and Innovation in New Albany, Ohio. This transaction serves as an example of navigating complex regional development data and multi-party coordination to secure a site in a high-growth corridor.
Project Timeline: From Negotiation to Closing
The deal spanned over one and a half years, requiring extensive demographic and development research to justify the site to the tenant.
Project Created: November 30, 2023.
Contract Phase: The deal moved into the “Under Contract or Signed Lease” stage on January 21, 2025. There was a lot or time and resources spent before going to contact.
Closing Target: Originally targeted for May 2025, closing was ultimately set for June 10, 2025.
Major Hurdles Overcome
The transaction faced several significant obstacles regarding market justification and regulatory approvals:
Market Justification and “Site Death” Risk: At one point, the site was considered “dead” unless compelling future development information could be provided. To save the Innovation site, the team had to prove the immense growth of the area.
Proof of Growth Data: Anchor Team coordinated to create detailed “Licking County Slides” for 7-Eleven. This included:
Highlighting that Columbus was the fastest-growing city in the U.S. per Bank of America.
Documenting over 20% enrollment growth in local school districts.
Tracking 314 new homes in the immediate pipeline (Forest Ridge and Scenic View subdivisions).
The strength of the New Albany Business Park and it’s projected 30,000 Jobs.
External Approvals: The final move to closing was delayed while waiting for the Ohio Department of Transportation (ODOT) to sign off on specific documents.
Corporate Coordination: The team had to navigate multiple committee approvals and proforma reviews with 7-Eleven’s regional leadership.
