Oklahoma

Riverline-Tulsa

TULSA, OKLA. — Dallas-based Rainier Development Co. has unveiled plans for Riverline, a 37-acre mixed-use project in Tulsa that is valued at approximately $400 million. The site is located south of Joe Creek and east of Lewis Avenue in what the development team describes as “one of Tulsa’s most dynamic growth corridors.” Plans call for approximately 650 luxury apartments that will come in one-, two- and three-bedroom floor plans, set above 200,000 square feet of retail, dining and entertainment space. Rainier is developing Riverline in partnership with the Muscogee (Creek) Nation. Construction of the first phase is scheduled to begin next year and to be complete in late 2027 or early 2028.

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PRYOR, OKLA. — TruCore Industrial, an Oklahoma-based investment firm founded by executives of net-lease brokerage group Stan Johnson Co., has sold a 70,000-square-foot warehouse in Pryor, located northeast of Tulsa. The building is situated on a 9.9-acre site within Mid-America Industrial Park and was fully leased at the time of sale to pipe and conduit manufacturer Endot Industries. The buyer and sales price were not disclosed.

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222-North-Detroit-Tulsa

TULSA, OKLA. — BOK Financial has provided a $45 million acquisition loan for 222 North Detroit, a 260,283-square-foot office building in Tulsa. Completed in 2022, the 11-story building is located within the city’s central business district and was 95 percent leased at the time of the loan closing to tenants in the energy, legal, financial services and construction materials industries. Greg Napper, Blake Morrison and Brody Rule of JLL arranged the loan on behalf of the borrower, Fenway Capital Advisors.

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OKLAHOMA CITY — Realterm, a Maryland-based investment manager focused on the transportation industry, has purchased a 94,089-square-foot warehouse that is adjacent to Will Rogers International Airport in Oklahoma City. Built on 9.3 acres in 2018 via a ground lease with the Oklahoma City Airport Trust and leased to a multinational logistics user, the warehouse features two dock-high doors, 14 drive-in doors, 25 truck parking spaces and 15 trailer parking spaces. The seller and sales price were not disclosed.

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OKLAHOMA CITY — Local brokerage firm NAI RED has arranged the sale of Boulevard Marketplace, a 35,597-square-foot shopping center in Oklahoma City. The sales price was $5 million. The center was built in 1984 and was 78 percent leased at the time of sale to tenants such as Subway and Great Clips. Samuel Dunham, David Hartnack and Sam Swanson with NAI RED represented the buyer and seller, both of which requested anonymity, in the transaction.

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Oxlley-Apartments-Edmond-Oklahoma

EDMOND, OKLA. — A partnership between Indianapolis-based developer Milhaus and locally based investment firm Humphreys Capital has completed Oxlley Apartments, a 276-unit multifamily community in Edmond, about 15 miles north of Oklahoma City. Located at 101 W. Main St. in the historic downtown area, Oxlley features studio, one-, two- and three-bedroom units. Amenities include a 24-hour fitness center, electric vehicle charging stations, conference rooms for remote workers, a dog park and a pet spa. Rents start at $1,225 per month for a studio apartment.

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OKLAHOMA CITY — A partnership between Boston-based Bain Capital Real Estate and New York City-based 11North Partners has purchased three open-air shopping centers in the Nichols Hills submarket of Oklahoma City for $212 million. Nichols Hills Plaza, The Triangle at Classen Curve and Classen Curve collectively comprise nearly 40 acres and have a combined occupancy rate of approximately 97 percent. Whole Foods Market and Trader Joe’s anchor the centers, which are also home to tenants such as Lululemon, Warby Parker, West Elm, Anthropologie, Sephora and Kendra Scott. The seller was not disclosed. The new ownership has tapped JLL to manage the properties.

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OKLAHOMA CITY — Red Oak Capital Holdings has provided a $5.7 million bridge loan for Penn Grand Apartments, a 105-unit multifamily complex in Oklahoma City. Located in the downtown area, the property consists of 14 two-story buildings on a 3.7-acre site. Nick Jans, Thomas Gorski and James Myatt of Red Oak Capital originated the two-year loan, which was placed by Sean Reilly of Regions Bank. The borrower, Gideon Properties, an investment firm that specializes in distressed assets, will use the proceeds to retire existing debt and rehabilitate units that were damaged by fire.

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Hughes-Pull-Quote

INOLA, OKLA. — Emirates Global Aluminium plans to open a $4 billion manufacturing plant near Tulsa in northeastern Oklahoma, an initiative that is expected to facilitate the direct creation of about 1,000 new jobs. A timeline for opening was not announced, but Recycling Today reports that construction could begin as soon as the end of next year. The facility will be located on more than 350 acres at Tulsa Port of Inola, a 2,200-acre industrial park with access to rail and nautical transportation networks. Once complete, the facility will be the largest of its kind in the country, producing billets, sheet ingots, high-purity aluminum and foundry alloys. The new Emirates facility is also expected to be responsible for the creation of 1,800 indirect jobs. According to ChemAnalyst, at full capacity, the plant will be able to annually produce 600,000 tons of the metal, a figure that reflects a virtual doubling of the current domestic aluminum production. The project team says this facility represents the first manufacturing plant for this material to come on line in the United States in the past 45 years. The news follows that of the $300 million investment from CBC Global Ammunition, which also selected Oklahoma …

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OKLAHOMA CITY — Trader Joe’s has signed a 16,975-square-foot retail lease in northwest Oklahoma City for its first grocery store in the state capital and fourth in the state. The space is located within the 155,000-square-foot Rockwell-Northwest Shopping Center, and Trader Joe’s will join Hobby Lobby and Burlington as the center’s anchor tenants. Tom Blanton with Blanton Property Co. represented the California-based grocer in the lease negotiations. Elise Lopez and Jim Martin internally represented the landlord, JAH Realty. A tentative opening date has not yet been determined.

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