REBusinessOnline

N3 to Develop Retail Strip Center in Denison, Texas

DENISON, TEXAS — N3 Real Estate has acquired three pieces of land in the North Texas city of Denison for the development of a retail strip center that will offer between 5,000 and 8,000 square feet of space. The site is located near Gateway Village, a mixed-use destination owned by Covenant Development that features residences and multiple retail and restaurant uses, including a HeyDay entertainment center. N3 is also developing a 7,250-square-foot strip center in Lawton, Okla., that will be …

Arbor Realty Provides $1.7M Freddie Mac Loan for Refinancing of Apartments in Metro OKC

CHICKASHA, OKLA. — Arbor Realty Trust Inc. (NYSE: ABR) has provided a $1.7 million Freddie Mac loan for the refinancing of Winding Creek Apartments, a 50-unit multifamily asset in Chickasha, a southwestern suburb of Oklahoma City. The property was built in 1974 on eight acres. Eric Regenbogen of Arbor Realty originated the loan through Freddie Mac’s Small Balance Loan program on behalf of the undisclosed borrower.

CBRE Negotiates Sale of 21,000 SF Industrial Property in Oklahoma City

OKLAHOMA CITY — CBRE has negotiated the sale of a 21,000-square-foot industrial property located at 2740 Global Parkway in Oklahoma City. The property is situated just off Interstate 40 on the southeast side of the city. Randy Lacey and Austin Lacey of CBRE represented the buyer, BGI Investments LLC, in the transaction. The representative of the seller was, Genprop Operators LLC, was not

CBRE Negotiates Sale of 32-Unit Apartment Complex in Oklahoma City

OKLAHOMA CITY — CBRE has negotiated the sale of a Flamingo Apartments, a 32-unit multifamily complex in Oklahoma City. Formerly known as University Manor, the property was built in 1961 and renovated in 2017. CBRE represented the seller, an affiliate of Oklahoma City-based boutique real estate development and design company, Nostalgia Shoppe. The buyer, Flamingo Holdings LLC, acquired he asset through a Freddie Mac Small Balance

OKC Industrial Market Should Benefit From Rising Labor Costs Across Central U.S.

From a manufacturing perspective, Oklahoma City has historically been considered a “tertiary market” when stacked against South Central and Midwest power players such as Dallas-Fort Worth (DFW), Houston, Kansas City, San Antonio, Austin and Denver. [caption id="attachment_220204" align="alignright" width="100"] John Lenochan, CBRE[/caption] As large manufacturing users consider multiple markets in the Central United States, Oklahoma City is often included in the initial list but …

Investor Demand Rises for Apartment Assets in Oklahoma City

As expected and much anticipated, the global rise in oil prices has given the petroleum industry a significant boost and spurred Oklahoma City’s economic recovery. The resurgence, demonstrated in part by a three-year-high in hiring this year, is drawing out-of-state multifamily investors and bringing greater interest from companies looking to relocate or expand. In mid-October, FedEx more than doubled its warehouse space with the opening of a new 270,000-square-foot distribution facility in …

Oklahoma City Is Natural Landing Spot for Successful DFW Retailers

Retail real estate in Dallas-Fort Worth (DFW) is nearing its cyclical peak, and users that want to continue expanding in the metroplex are being hamstrung by a lack of quality space and surging rents. According to CoStar Group, DFW’s retail vacancy rate currently stands at 4.4 percent, a record low that the research firm expects to hold steady or even improve in the coming years. Rents have grown by more than 3 percent annually over the last five years, and are now 15 percent higher than …

American Residential Group to Build Six-Story Apartment Project in Tulsa Arts District

TULSA, OKLA. — American Residential Group (ARG) plans to build The View, a six-story multifamily property that will be located in the Tulsa Arts District. The 198-unit project will feature high-end finishes, a rooftop amenity deck and an attached parking structure. Situated just outside Tulsa’s central business district, The View will be located directly across the street from the ONEOK Field, the home baseball park of the Tulsa Drillers. ARG will break ground early this year on The View …

Distribution Firm Signs 90,000 SF Industrial Lease in Oklahoma City

OKLAHOMA CITY — Veritiv Operating Co., a provider of packaging, paper products and distribution services, has signed a 90,000-square-foot industrial lease at 5200 S.W. 36th St. in Oklahoma City. According to LoopNet Inc., the property was built in 1999 and features 12 dock-high doors. David Portman of CBRE represented the landlord, EIP OKC LLC, in the lease negotiations. Caitlin Mazaheri, Jason Hammock, John Herrmann and Travis Price, also of CBRE, represented Veritiv Operating

MCA Closes $33.7M Bridge Loan for Oklahoma City Apartment Community

OKLAHOMA CITY — Metropolitan Capital Advisors Ltd. (MCA) has closed a $33.7 million floating-rate bridge loan for J Marshall Square, a 280-unit multifamily community in Oklahoma City. The sponsor, local developer Gardner Tanenbaum Holdings, will use the proceeds to retire existing construction debt. The bridge structure will also help the borrrower facilitate the lease-up and stabilization of the property. Sunny Sajnani and Todd McNeill of MCA arranged the loan through Centennial

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