Oklahoma

Britton-Commerce-Center-Oklahoma-City

OKLAHOMA CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $48.4 million loan for the refinancing of Britton Commerce Center, a 560,000-square-foot industrial property in Oklahoma City. The five-building complex was fully leased at the time of the loan closing. Sunny Sajnani and Travis Headapohl of IPA arranged the debt through an undisclosed credit union on behalf of the borrower, locally based development and investment firm Gardner Tanenbaum. The loan was structured with a five-year term, a fixed interest rate of 5.76 percent, 30-year amortization schedule and 24 months of interest-only payments.

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SHAWNEE, OKLA. — GF Central Plastics has opened a 150,000-square-foot metals manufacturing facility in Shawnee, an eastern suburb of Oklahoma City. The facility will complement GF Central’s existing 500,000-square-foot plastic and metals manufacturing plant in Shawnee. Project partners included TAP Architecture, Entegrity Energy Partners, Coalign Group, Cedar Creek Inc. and Evans General Contractors. A grand opening ceremony took place in mid-October, and the facility is expected to be fully operational by next April.

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TULSA, OKLA. — TruCore Industrial, an Oklahoma-based investment firm founded by executives of net-lease brokerage group Stan Johnson Co., is nearing completion of a 90,000-square-foot project in Tulsa. Midtown Industrial Park consists of four buildings that feature 20-foot-plus clear heights, shared dock access and ESFR sprinkler systems. Leasing is currently underway.

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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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