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.
OKLAHOMA CITY — Gardner Tanenbaum Holdings (GTH), a development and construction management firm, has sold the Boeing Oklahoma City office campus. The California-based buyer, OKC Aerospace 1 LLC, purchased the property for $124.7 million. Located at 6001 S. Air Depot Road, the campus is situated directly west of Tinker Air Force Base and 10 miles southeast of downtown Oklahoma City. GTH developed the three build-to-suit office buildings for Boeing in 2007, 2011 and 2012. The campus houses about 3,155 Boeing personnel who work with the Tinker Air Force Base for U.S. defense aircraft. Mark Beffort and Brett Price of Newmark Grubb Levy Strange Beffort represented both the buyer and seller in the transaction. Oklahoma City-based GTH manages more than 1 million square feet of multifamily properties, 6 million square feet of industrial and office space and has an inventory of over 250 acres of land holdings for future development in the region.
OKLAHOMA CITY — CBRE has arranged a 56,000-square-foot industrial lease at 3100 N. Meridian Ave. in Oklahoma City. The tenant, Made by Influence LLC, leased the space from landlord USA Prop Management LLC. Randy Lacey of CBRE’s Oklahoma City office represented the landlord in the lease negotiations.
OKLAHOMA CITY — Locally based firm Plains Management Group will develop a 120-room hotel in Oklahoma City’s Nichols Hills neighborhood that will be named after the city’s literary icon Ralph Ellison. Set to open in 2021, the Ellison hotel will feature a rooftop pool and bar and 7,000 square feet of meeting space. Washington Prime Group sold the land on which the hotel will be developed.
OKLAHOMA CITY — Hines will develop The Residences at Classen Curve, a 325-unit apartment community that will be located in the Nichols Hills submarket of Oklahoma City. Designed by Dwell Design Studio, the project will be situated adjacent to a retail center that houses a Whole Foods Market and Trader Joe’s. Units will average roughly 900 square feet and amenities will include a pool, fitness center, coworking lounge, package facilities, courtyards and a resident clubroom. Construction is slated to begin in 2020, and the first units are expected to be available for occupancy in late 2021.
OKLAHOMA CITY — Arkansas-based Plunkett Distributing has signed a 32,978-square-foot industrial lease at 4001 Will Rogers Parkway in Oklahoma City. Jason Hammock, John Lenochan, Caitlin Mazaheri and Alex Powell of CBRE represented the landlord, Ted R. Davis LLC, in the lease negotiations. The representative of the tenant was not disclosed.
TULSA, OKLA. — Alliant Credit Union has provided a $61.9 million acquisition loan for a seven-property, 1,540-unit multifamily portfolio in Tulsa. The loan was structured with an 80 percent loan-to-value ratio. The borrower was not disclosed. Gershon Friedman of Meridian Capital’s Chicago office placed the debt with Alliant Credit Union.
AUSTIN, TEXAS — Marcus & Millichap has brokered the $36.2 million sale of a portfolio of five Candlewood Suites hotels totaling 517 rooms in Texas and Oklahoma. Two of the assets are located in San Antonio and Midland, and the other three are located in the Oklahoma cities of Lawton, McAlester and Bartlesville. Allan Miller and Chris Gomes of Marcus & Millichap represented the seller, KJ Properties LLC, and procured the buyer, a Texas-based investment firm.
TULSA, OKLA. — Disney Investment Group has brokered the sale of Memorial Crossing, a 70,376-square-foot shopping center in Tulsa. Anchored by HomeGoods, Petsmart and ULTA Beauty and shadow-anchored by Costco, the center was 97 percent leased at the time of sale. Disney Investment Group represented the seller, Dallas-based Leon Capital Group, in the transaction, and procured the undisclosed buyer.