Chavez Properties Acquires Majority Interest in 14-acre Property Near CVG
The owner of Cincinnati Fast Park & Relax, which serves travelers at the Cincinnati/Northern Kentucky International Airport (CVG), has acquired additional land across the road from its existing facility. In two separate transactions over a 15-month period, Chavez Properties acquired an 80 percent share of the land.
Less than two miles from the CVG terminal, the property, located at 618 Petersburg Road in Hebron, Ky., underscores the company’s commitment to growth of its near-airport parking portfolio. It also brings the company full circle as the newly acquired land was home to the first-ever Fast Park facility before a major expansion and renovation project created its new, flagship location on a neighboring 31-acre lot in 2015. Since launching at this location in the early 80s, the Fast Park brand has grown to be a leading offsite airport parking provider with 16 facilities serving some of the nation’s busiest airports.
Chavez Properties currently is leasing the land to a major global corporation whose business relies on near-airport access.