OKLAHOMA CITY — New Jersey-based Monmouth Real Estate Investment Corp. has acquired a 120,780-square-foot industrial building at 6101 SW 44th St. in Oklahoma City for $15.2 million. The property is situated on 22 acres and is net-leased to Amazon.com Services LLC for 10 years. According to LoopNet Inc., the property was built in 2019 and features 30- to 32-foot clear heights and a 5 percent office finish. The seller was not disclosed.
OKLAHOMA — Carnegie Capital has arranged an $11.5 million loan for the refinancing for three skilled nursing facilities totaling 330 licensed beds in southern-central Oklahoma. The borrower is a local owner-operator, and the lender is an Arkansas-based regional bank. J.D. Stettin of Carnegie Capital arranged the loan, which features a fixed 3.99 percent interest rate for five years. The names of the facilities were not disclosed.
BIXBY, OKLA. — Minneapolis-based investment firm Timberland Partners has purchased Encore Memorial, a 248-unit apartment community located in the southern Tulsa suburb of Bixby. Built in 2012, the property offers one-, two- and three-bedroom units. Amenities include a business center, resident clubhouse, pool, fitness center, playground and a volleyball court. Timberland Partners acquired the asset through its $100 million TPAF VII Fund. The seller was not disclosed.
By Stuart Graham, Senior Vice President, CBRE; Mark Inman, Senior Vice President, CBRE; and Kendra Roberts, Associate, CBRE The Oklahoma City retail market has had a growing and changing landscape over the past few years as the sector’s healthy fundamentals continue to draw both local and national investors. Although much of the growth has been focused on the downtown Oklahoma City area, we are beginning to see a new hotspot emerge in the Far North neighborhoods. High-quality schools and affordable housing in the Far North Oklahoma City submarket of Edmond, as well as in the surrounding neighborhoods, have been major draws for young families. Both the Deer Creek and Edmond School Districts rank among the top three school districts in the state and also enjoy high national rankings. As a result of these residential and educational features that are attracting younger households and driving population growth, the Far North Oklahoma City submarket has recently seen a significant uptick in both retail investment and development activity that better support this underserved and growing community. To illustrate this submarket’s rise, consider the fact that nearly 20 percent of the total volume of retail product currently under construction in the Oklahoma City area …
DUNCAN, OKLA. — Houston-based oilfield services firm Halliburton Co. will lay off approximately 350 employees at its facility in Duncan, according to reports from several news outlets including The Houston Chronicle and Reuters. The Chronicle reports that the move was revealed via a filing with the Oklahoma Office of Workforce Development, and that the company has independently confirmed plans to reduce its workforce as oil prices continue to suffer. Several weeks ago in mid-March, Halliburton furloughed some 3,500 workers at its Houston headquarters via a program in which employees would work every other week for 60 days. As of Tuesday afternoon, the price of West Texas Intermediate crude stood at $25.61 per barrel, down from $63.98 per barrel a year ago.
LAWTON, OKLA. — Marcus & Millichap has brokered the $3.9 million sale of Fox Valley Apartments, a 120-unit multifamily community in Lawton, located in southwestern Oklahoma. The property was built on six acres in 1980 and offers 108 two-bedroom units and 12 three-bedroom units. Derek Wilson of Marcus & Millichap represented the undisclosed seller and procured a limited liability company as the buyer.
OKLAHOMA CITY — Developer HarborChase has completed HarborChase of South Oklahoma City, an upscale seniors housing community. The property offers assisted living and memory care services, as well as respite stays. Amenities include a full-service bistro, exhibition kitchen, bar and cocktail lounge, fitness and wellness center and a fine dining restaurant. Residents have already begun moving into the building.
OKLAHOMA CITY — A partnership between investment firm GMF Capital and Oklahoma-based Vesta Capital has acquired Sycamore Farms, a 398-unit apartment community in Oklahoma City. Built in 1998, the property offers one-, two- and three-bedroom units ranging in size from 692 to 1,300 square feet. Amenities include two pools, a 24-hour fitness center, outdoor grilling and picnic areas, a business center and a dog park. Mitch Sinberg, Matthew Robbins and Abigail Beauchamp of Berkadia secured a $33.8 million Freddie Mac acquisition loan for the deal on behalf of the buyer. That loan carried a 10-year term, a fixed interest rate and five years of interest-only payments.
JENKS, OKLA. — Simon Property Group Inc. has broken ground on Tulsa Premium Outlets, a 340,000-square-foot, open-air retail and dining destination. The property is located just off the Creek Turnpike in Jenks, a southern suburb of Tulsa, and will be Simon’s 91st Premium Outlets development. Construction of the property is expected to generate 400 jobs, and the opening of the center is anticipated to create 800 new full- and part-time jobs. A completion date was not released.
OKLAHOMA CITY — CBRE has negotiated an 80,246-square-foot industrial lease renewal at 5001 SW 36th St. in Oklahoma City. According to LoopNet Inc., the property was built in 1982, spans 125,000 square feet and is located near Interstate 44 and Will Rogers International Airport. David Portman of CBRE represented the landlord, Sealy OKC Metropolitan I LLC, in the lease negotiations. The representative of the tenant, Biagi Warehousing Inc., a full-service logistics and transportation firm, was not disclosed.