Price Edwards Brokers $8,500,000 Norman Apartment Sale
Renovated Sooner Court of Norman Sells for $8,500,000
Sooner Court Apartments is a 160-unit apartment community located in the Norman Sub-Market and has sold for $8.5 million after being marketing for only a few weeks. The seller purchased the property while it was in bankruptcy and over a span of five years completely renovated the property replacing the mansard roofs with gable truss roofs, completely replacing the interiors with high-end finishes and renovating the property inside and out. The property was only 35% occupied at the time of the sale, so the buyer plans to finish out the already strong lease-up process then gradually increase the rents taking them to levels that are appropriate to the condition and level of the build out. David Dirkschneider with Price Edwards & Company handled the transaction.
Department of Human Services Renews Lease in SW OKC
Despite the State budget crisis, the Department of Human Services renewed its lease of 14,629 SF in Capitol Hill. This office houses attorneys and judges and has court room proceedings on a variety of cases that fall under the DHS’ jurisdiction. DHS has been housed at their Capitol Hill location since 2003. Tom Fields with Price Edwards & Company handled the transaction.
Dollar Tree Opens New Del City Location
In July Dollar Tree opened its new 10,000 SF store at Del Crest Shops in Del City, Oklahoma. The additions of Save A Lot and Dollar Tree, leasing should continue to thrive at the renovated shopping center. Ev Ernst and Karleen Krywucki with Price Edwards and Company represented the Landlord in the transaction.