EDMOND, OKLA. — ShowBiz Cinemas has announced plans to open a new family entertainment center in Edmond, Oklahoma. The development — Bowling, Movies and More — will feature 18 boutique bowling lanes, VIP event space, party rooms, 12 movie auditoriums with wall-to-wall curved screens, a café, full bar and modern arcade center. The Edmond development, scheduled to open by Christmas 2017, will mark the company’s first location outside Texas.
STILLWATER, OKLA. — Marcus & Millichap has brokered the sale of a Walmart outparcel located at 621 S. Country Club Road in Stillwater. The 40,075 square feet of commercial land is situated adjacent to a Walmart Supercenter and offers utilities and road frontage. Tom Mann and Derek Wilson of Marcus & Millichap represented the seller, a limited liability company, and secured the buyer, a bank/financial institution, in the deal. The acquisition price was not released.
OKLAHOMA CITY — CBRE has arranged the lease of industrial space located at 11301 Partnership Drive in Oklahoma City. Omni Packaging Group, a distributor of shipping and packaging materials, is leasing 37,620 square feet of space from TOKC Northgate LLC. Jamie Hill, Barbara Mefford, John Lenochan, Jason Hammock and Caitlin Mazaheri of CBRE represented the tenant in the transaction.
ALTUS, OKLA. — Hobby Lobby Stores Inc. has leased 59,318 square feet of retail space within Northtown Center, located at 1700 N. Main St. in Altus. The landlord is Northtown Altus LLC. Mark Inman and Stuart Graham of CBRE’s Oklahoma City office represented the tenant in the deal.
OKLAHOMA CITY — Harborview Capital Partners, on behalf of a California-based client, has arranged a $2.6 million loan for the acquisition of a multifamily property in Oklahoma City. The borrower will use the Freddie Mac Small Balance loan to purchase a 68-unit multifamily community. The 10-year, fixed-rate loan features 36 months of interest-only payments. Jeff Fuchs of Harborview Capital negotiated the loan.
OKARCHE, OKLA. — CBRE has arranged the acquisition of an industrial property located at 7180 NW Expressway in Okarche. Baptist General Convention of the State of Oklahoma purchased the 16,456-square-foot building from Felix OK Holdings LLC for $1.3 million. Randy Lacey of CBRE’s Oklahoma City office represented the buyer, while Scott Wieczorek of GBR Properties represented the seller in the transaction.
OKLAHOMA CITY — Precision Parts & Remanufacturing Co. has signed a lease for 40,225 square feet of industrial space at 5201 W. Reno Ave. in Oklahoma City. Kris Davis of Newmark Grubb represented the landlord, Greene Ranch Enterprises Inc., while Randy Lacey of CBRE’s Oklahoma City office represented the tenant.
ENID, OKLA. — Three new tenants have signed on at GBT Realty Corp.’s shopping center in Enid. Famous Footwear, Buckle and Sprint are joining the tenant lineup at the $17 million Land Run Town Center, occupying a combined 13,100 square feet of retail space. The shopping center is now 93 percent leased. Academy Sports + Outdoor and Famous Footwear are now open. Maurices, Ulta Beauty and Buckle will open by the end of the year. Acquired in March by GBT Realty, the 15-acre site, situated across from Oakwood Mall, is formerly home to Walmart and was most recently a distribution center for regional home and garden retailer Atwoods Ranch and Home. Enid is located 90 miles northwest of Oklahoma City.
TULSA, OKLA. — CBRE has arranged the sale of BOK Place at Southern Hills, a 126,656-square-foot, Class A office building in Tulsa. The eight-story asset was 89 percent occupied at closing. Mary Martin of CBRE’s Tulsa office represented the seller, Allegiancy Houston LLC, in the transaction. The building is located at 5727 S. Lewis Ave. near the intersection of East 61st Street and South Lewis Avenue with close proximity to Southern Hills Country Club. Building amenities include high-speed internet, on-site banking with drive thru lanes and an on-site deli. Major tenants include Bank of Oklahoma and The Home Depot.
MIDWEST CITY, OKLA. — Metropolitan Capital Advisors Ltd. (MCA) has arranged a $6.8 million, fixed-rate loan for Huntington Place Apartments, a 288-unit multifamily complex. The 88 percent-occupied property is located at 1401 N. Midwest Blvd. in Midwest City, a suburb of Oklahoma City. RREAF of Dallas purchased the property. The company plans to make capital improvements to the property, enhance management and improve operations. Scott Lynn of MCA was responsible for arranging the Fannie Mae DUS loan with a fixed 3.2 percent interest rate through Arbor Commercial Mortgage.
