Oklahoma commercial real estate
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PEC Launches OKC Space Finder

September 22nd, 2011 | Posted by Marcie Price in Corporate - (0 Comments)

Price Edwards & Company is pleased to announce the launch of OKC Space Finder, a web application aimed at helping businesses locate available commercial real estate lease space in the Oklahoma City metro area. The site features office, retail, and industrial property types in a searchable format. Results are displayed in a map view backed by Microsoft’s Bing Maps engine.

The initial view displays properties based on submarket. Selecting a submarket on the map gives the user the average lease rate in the submarket along with a count of how many properties are available in that area. Filters allow the user to further slice-and-dice the selected area with square feet and demographic parameters. In addition to submarkets, the site allows the user to use postal zip codes to segment the market. Selecting a highlighted zip code on the map will create a pop-up containing a demographic summary of that area. Choosing a property displays detailed information about the property including facts, photos, leasing contact information, and the option to download a PDF flyer. Creating an account on the OKC Space Finder will grant access to additional functionality such as the ability to favorite a property for later analysis.

OKC Space Finder is the first tool of its kind for the Oklahoma City commercial real estate market. It gives the user the power to position their business in the best possible location, and the site’s data makes it an excellent research tool.

To learn more and use the site, go to www.okcspacefinder.com.

OKC Space Finder

PEC Progress 2011

September 22nd, 2011 | Posted by Marcie Price in Corporate - (0 Comments)

The Price Edwards & Company Progress newsletter is a brief review of business and transactions over the last year. You can download the latest issue and previous editions here on our website.

PE Progress 2011

Red Bud Center Sold for $725,000

September 22nd, 2011 | Posted by Marcie Price in Investment - (0 Comments)

Retail Investment specialist Paul Ravencraft brokered a transaction for LNR Partners of Miami Florida. The sale consisted of a 6,600 square foot retail center situated on approximately 36,150 square feet of land. The center is shadow anchored by Walmart and located at the corner of Kenosha and Aspen in Broken Arrow, OK. The property sold to Frontier Development of Miami Florida for $725,000. The property was marketed and closed within sixty days from the receipt of the listing assignment.

Price Edwards also handled the receivership process along with the leasing and management duties.

Red Bud Center

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Price Edwards brokers sale of Central Park I & II office buildings

September 2nd, 2011 | Posted by Marcie Price in Office - (0 Comments)

Central Park I & II

Chesapeake Land Development Company, LLC purchased the Central Park I & II office buildings in Oklahoma City for $29 million. The seller was an entity affiliated with Rosemont Realty of Santa Fe, New Mexico.

Central Park is comprised of twin, six-story atrium buildings containing a total of approximately 237,500 square feet. Each tower offers secure underground parking for approximately 50 cars. Central Park II has areas dedicated for weights, racquetball and handball. Located at the intersection of Interstate 44 and Lincoln Boulevard, the buildings are generally considered to be Class B/B+ assets.

Each building was well leased at the time of the sale. However, Enogex, which occupied over 100,000 square feet in Central Park II had a near term lease expiration, and had made known its intent to ultimately move downtown. Chesapeake recognized this would be the only remaining large block of high quality vacant office in the suburban market, and moved quickly to gain control of the asset in order to help deal with the firm’s continued growth.

Craig Tucker, Sr. Vice President and Ford Price, Managing Partner handled the transaction.

 

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Price Edwards helps 1492 expand to Casady Square

September 2nd, 2011 | Posted by Marcie Price in Retail - (0 Comments)

1492

1492 New World Latin Cuisine is set to open a second location at Casady Square Shopping Center before the end of the year. Casady Square is located at Penn and Britton in North Oklahoma City. The 6,437 square foot restaurant will feature a banquet room that can accommodate large groups and private parties. Brothers, Arturo and Marco Chavez, opened their first location in Midtown in September 2007. After quickly becoming a favorite dining spot for OKC locals they opted for a second location. Laci Jackson with Price Edwards represented the Landlord.

 

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Blueknight Energy Partners leases space at the Packard Building

September 2nd, 2011 | Posted by Marcie Price in Office - (0 Comments)

Blueknight Energy Partners leased 19,373 square feet of office space in the newly remodeled Packard Building at the corner 10th & Robinson in the Midtown District of Oklahoma City. The Packard Building blends office, restaurant, and retail spaces into a historic and architecturally unique building. With this pre-lease, the building starts 53% occupied with a large portion of the remainder of the building in current lease negotiations. The Blueknight space features an open, light filled concept designed by HSE Architects and will be built by Lingo Construction. Craig Tucker, Sr. Vice President, represented the Tenant and Derek James, Broker Associate, both of Price Edwards & Company represented the Landlord.

Blueknight Energy Partners provides gathering, transporting, terminalling, and storage of crude oil in Oklahoma, Kansas, and Texas. The company operates two pipeline systems delivering crude oil to refineries, and provides oil tank storage services. It also provides asphalt services.

 

3 Corporate Plaza 89% leased

September 2nd, 2011 | Posted by Marcie Price in Office - (0 Comments)

The Department of Consumer Credit leased 5,120 square feet in 3 Corporate Plaza, bringing the building to about 89% leased. The Tenant relocated after nearly 30 years in its previous location. The Landlord did an extensive remodel on the office to accommodate its specific needs.

 

Gold’s Gym opens two new locations in OKC metro

September 2nd, 2011 | Posted by Marcie Price in Retail - (0 Comments)

Gold’s Gym has leased 15,080 square feet in Towne South Shopping Center at I-240 and Walker from North Pointe I, and will begin remodel in early September for its new concept, Gold’s Gym Express, which will open by the end of 2011. The new Express concept is intended to give clients experience at a local gym and provide packages that makes access available to all the full services provided by the larger Gold’s Gym locations on Northwest Expressway and on Memorial Road. Other tenants currently at Towne South are Jimmy’s Egg, Chuck E. Cheese, On the Border, Hair Rage, Coaches, Primos and City Bites. The lease was handled by Karleen Krywucki.

Gold’s Gym has signed a lease in east Norman to open its new concept Gold’s Gym Express in Alameda Square at 12th Street and Alameda. The Express location will occupy 16,696 square feet and offer free weights, cardio and resistance training machines and will open this fall. The Express locations are intended to supplement the larger format Gold’s Gym locations on Northwest Expressway and on Memorial Road in Oklahoma City. Karleen Krywucki of Price Edwards, represented the tenant.

 

Northwest Mutual Financial Network leases 1930′s vintage space

September 2nd, 2011 | Posted by Marcie Price in Office - (0 Comments)

Northwest Mutual Financial Network leased 7,200 square feet of office space at the corner of Shartel and Classen Drive. This three story 1930’s vintage property has been totally remodeled. The building sits on a very visible corner, which is a gateway to one of the hottest redevelopment areas in the Metro, the Midtown District. Northwest Mutual will use this as a division headquarters and training center. Derek James of Price Edwards & Company handled this lease, and has handled multiple leases in the Midtown District.

 

PetSmart closes 10 year lease at Mayfair Place

September 2nd, 2011 | Posted by Marcie Price in Retail - (0 Comments)

PetSmart has extended its lease on 23,569 sq ft at Mayfair Place in north OKC at 63rd and May Avenue for another 10 years. The owner of Mayfair Place, Mila Properties, has recently refurbished the shopping center and add Chick-Fil-A to the tenant mix. Karleen Krywucki represented the owner.