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Partnership Acquires Multi-State Shopping Center Portfolio for $429M

by Hayden Spiess

ELMSFORD AND NEW YORK CITY, N.Y. — DLC, in partnership with a fund managed by DRA Advisors, has acquired a multi-state shopping center portfolio in an off-market transaction for $429 million. Totaling 2.1 million square feet, the portfolio comprises eight shopping centers across five states. The seller was not disclosed. The properties include Central Texas Marketplace in Waco, Texas; Portofino Shopping Center in the Houston suburb of Shenandoah; Watauga Pavilion in the Dallas suburb of Watauga; Shops at Park Place in Plano, Texas; Pavilion at King’s Grant in the northeast Charlotte suburb of Concord, N.C.; International Speedway Square in Daytona Beach, Fla.; Peoria Square in Glendale, Ariz.; and Belle Isle Station in Oklahoma City, Okla.  The portfolio was 91.3 percent leased at the time of sale. Long-term tenants across the portfolio include Nordstrom Rack, REI, T.J. Maxx, Ross Dress for Less, Dick’s Sporting Goods, HomeGoods, Marshalls, Total Wine & More and Ulta Beauty.  This portfolio marks DLC’s first retail acquisitions in Phoenix and Oklahoma and expands the company’s existing presence in Texas and Florida. In October, DLC and DRA Advisors purchased a $625 million retail portfolio on the West Coast. The two organizations have now completed more than $1.7 billion of …

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AcquisitionsIndustrialOklahomaTexas

TruCore Industrial Acquires Two Facilities Totaling 58,000 SF in Tulsa

by Taylor Williams

TULSA, OKLA. — TruCore Industrial, an Oklahoma-based investment firm founded by executives of net-lease brokerage group Stan Johnson Co., has acquired two facilities totaling roughly 58,000 square feet in Tulsa. The facilities at 6566 E. Skelly Drive and 4620 S. Memorial Drive sit on a combined 4.6 acres and were both fully leased at the time of sale to sign maker Fellers Inc. Phillip Butts, Ken Hedrick and Andrew Ragsdale of Colliers brokered the sale. The seller and sales price were not disclosed.

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IndustrialLoansOklahomaTexas

IPA Arranges $48.4M Loan for Refinancing of Oklahoma City Industrial Property

by Taylor Williams

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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DevelopmentIndustrialOklahomaTexas

GF Central Plastics Opens 150,000 SF Metals Manufacturing Facility in Shawnee, Oklahoma

by Taylor Williams

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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DevelopmentIndustrialOklahomaTexas

TruCore Industrial Nears Completion of 90,000 SF Project in Tulsa

by Taylor Williams

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
DevelopmentMixed-UseOklahomaTexas

Rainier Development Unveils Plans for $400M Riverline Mixed-Use Project in Tulsa

by Taylor Williams

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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AcquisitionsIndustrialOklahomaTexas

TruCore Industrial Sells 70,000 SF Warehouse in Pryor, Oklahoma

by Taylor Williams

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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LoansOfficeOklahomaTexas

BOK Financial Provides $45M Acquisition Loan for Tulsa Office Building

by Taylor Williams

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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AcquisitionsIndustrialOklahomaTexas

Realterm Buys 94,089 SF Warehouse Near Will Rogers Airport in Oklahoma City

by Taylor Williams

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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AcquisitionsOklahomaRetailTexas

NAI RED Arranges Sale of 35,597 SF Shopping Center in Oklahoma City

by Taylor Williams

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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