A group of Des Moines, Iowa, investors paid $4.8 million for two Kum & Go locations in Tulsa.
The company, Davis Estates Ltd., spent $2.4 million to Hurd Tulsa LLC for one store and paid $2.4 million to Hurd Oklahoma LLC for the convenience store and fueling station according to The Journal Record.
Both locations are 5,118-square-foot, and both were built last year and sold by Des Moines-based Kum & Go, said Todd Millang, a broker with CB Richard Ellis Hubbell Commercial in Iowa’s capital city.
“This was a cap-rate purchase based on the credit and the lease that Kum & Go has,” Millang told the newspaper. “Interesting enough, we represent the Davis Estates family and also Kum & Go.”