Price Edwards & Company's Retail Investment Team sold the "Lumberyard" property located at 101 SE 4th in Oklahoma City consisting of 5.9 acres in Lower Bricktown. It sold for $8,000,000 or $31.13/sf. Mazaheri Properties and Champion Hotels & Development purchased the property from the Bill & Patti Smith Family. The land is located just south of Harkins Theatre, between S Walnut and Shields. Not only will it be the first access point going West and last access point going East on the Boulevard, it will also have 957 ft of frontage on the future road. There is no master plan at this time and the Buyers plan to hold until future development is planned with the Producers Cooperative Mill to the South.
Although no concrete plans have been announced, the new owners are excited by the thriving entertainment district and look forward to adding to the mix of attractions in the once nearly vacant area prior to its MAPS transformation.
Phillip Mazaheri, Paul Ravencraft and George Williams with Price Edwards & Company represented the Buyers.
Platt College Renews 30,360 SF Lease
STVT-AAI Education Inc. renewed its lease for the Platt College North Oklahoma City Campus totaling 30,360 square feet. Platt College moved into the building, located at 2727 W. Memorial Road, in 2003. Chris Roberts handled the transaction.
EAN Holdings LLC Purchases 2.62 Acres
EAN Holdings LLC paid $350,000 to Star Lumber & Supply for a Land property of 2.62 acres at NW 139, Oklahoma City. This property was formerly overflow parking for a tenant at Northpointe Commerce Center. Bob Puckett handled the transaction.
Homeland Security Renews Lease of 5 Corporate Plaza
The General Services Administration renewed the lease for Homeland Security for 10 years. Homeland Security has occupied the entire 3rd floor of 5 Corporate Plaza since 2010 consisting of 16,622 square feet. To date, the improvements to the office are approximately $1.6 million.
