Price Edwards and Company's Retail Investment Team sold the property located at 100 S. Charlie Christian, containing 4.6168 acres. The former Body Works site is one of the last large parcels of land located in East Bricktown. The property sold for $8,000,000 which brings the price per square foot to $39.78. The Buyer, Lifestyle Hospitality at Bricktown, LLC, consists of an investment group including Fred Mazaheri with Mazaheri Properties and Champ Patel with Champion Hotels, among others. The Buyers were represented by PEC Retail Investment Team consisting of Phillip Mazaheri, Paul Ravencraft, and George Williams. The Seller was PUMPCO, LLC which was represented by Mark Patton of Price Edwards & Company.
PEC Retail Investment Team was hired to find an off-market site for a large-scale development consisting of a few high-end hotels, multifamily development, and a parking structure. It identified the former Body Works site in the spring and the Buyer quickly put the property under contract.
The new owner has hired Rick Brown with RBA architects to handle the design of the development.
Warren Products Inc. Leases Over 9,000 SF
Warren Products, Inc. leased 9,813 square feet of industrial space in The Sovereign Technical Center at 1235 Sovereign Row, Oklahoma City. This is Warren Office Products’ main office and showroom. Mark Patton handled the transaction.
Natural Grocers to Lease Over 20,000 SF in Edmond Marketplace
Edmond Marketplace will soon be home to Natural Grocers/Vitamin Cottage, its 5th OKC Metro location – they also have two stores in Tulsa. The new store will have 20,289 square feet and an opening is set for August 1, 2015. Natural Grocers sells only organic produce, meat and dairy products, whole grain bakery items, vitamins, and supplements as well as a variety of natural health and beauty aids. It has over 90 stores across the US. Susan Brinkley handled the transaction.
Midtown's Iconic Buick Building Leases to Raymond James
Raymond James Financial executed a lease for 5,933 square feet on the second floor of the Buick Building. Raymond James is a financial services company, offering expert services in insurance brokerage, securities, assess management and investment banking for 2.6 million clients nationwide with assets under management exceeding $502 billion. In their search for a premium building and unmatched location, Raymond James found The Buick Building. With its expansive glass line and adjoining parking and iconic signage, the Buick Building is the new beacon for the revitalization in Midtown. Derek James with Price Edwards handled the lease transaction for the Midtown Renaissance Group.
Planet Fitness Signs 19,600 SF Lease
Planet Fitness has signed a lease on the remaining 19,600 sq ft of a former Wal-Mart building at 1821 S Main Street in Weatherford, Texas. Tractor Supply Company leases 27,000 in the north end of the property and a local tenant, Hole in Fun, operates in 19,000 sq ft of the building. Plant Fitness anticipates opening October 2015. Karleen Krywucki handled the lease.
Bank of Oklahoma Expands Tulsa Lease
Bank of Oklahoma, BOKF, NA expanded their lease of office space in Williams Center Tower I at One West Third, Tulsa, OK, by 31,762 RSF. Tanda Francis handled the transaction on behalf of the Tenant.
Baker Hughes Oilfield Operations Sells 27 Acres
The Mike Byford Family Trust has purchased a 27-acre site in Ardmore, Oklahoma. The site is located at 1400 S. Commerce Street. The Seller was Baker Hughes Oilfield Operations. The sales price was $400,000. Mark Patton of Price Edwards & Company handled the sale.
