February 2020 Transactions Announcement
$6,300,000 for 37,000 SF of Office Space
Ryvers G. Reeder, Trustee for the The Ryvers G. Reeder Trust, has purchased the HireCall Office Building, located at 7127-7131 S. Riverside Parkway in Tulsa. The seller is currently a tenant in this multi-tenant property. The buyer sold a California investment property, which provided him the opportunity to 1031 exchange into the purchase of this property. This class “B” one (1) story office building was built in 1993 and consists of approximately 37,000 SF. The building was renovated in 1995 and re-purposed from a Food Lion Grocery Store to a multi-tenant office building. The building traded for $6,300,000 and was 90% occupied at the time of the sale. The building was marketed as an investment property due to the high occupancy level. Matt Surrett with Price Edwards & Company (Tulsa) was the listing agent for the building and represented the seller in this transaction.
$2,500,000 for 118,000 SF of Office Space
Peyday Realty, LLC has purchased the Autumn Oaks Office Park, located at 6804 & 6846 S. Canton Avenue in Tulsa. The property consists of two (2) office buildings; one (1) seven (7) story tower and one (1) one (1) story garden building. The property was lender owned by an out of state Insurance Company. The buyer is a local Tulsa investor that plans a major renovation of the property. This class “B” building was built in 1982 and consists of approximately 117,590 SF between the two (2) buildings. The property traded for $2,500,000 and was 30% occupied at the time of the sale. The building was marketed to owner/occupants and investors. Matt Surrett with Price Edwards & Company (Tulsa) was the listing agent for the building and represented the seller in this transaction.
$1,800,000 for 32 Apartment Units
We executed a thorough marketing plan, including videos to illustrate the close proximity to campus, as well as the upgraded features of the property. We were able to generate multiple offers for the sellers consideration and ultimately were able to achieve the highest per unit price for a 1970’s constructed property in Stillwater. Ultimately, the local buyer was able to realize the value of the location and quality rehab of Hillcrest Apartments as a good addition to their portfolio. Mike Marrara and David Dirkschneider handled this transaction.
103,500 SF Leased of Office Space
AT&T renewed their 103,500 square foot lease in the office building located at 3201 Quail Springs Parkway. There are approximately 650 AT&T employees working in this office that is used for a call center and company training. The property is 100% leased. Tom Fields with Price Edwards & Company handled this transaction.
14,120 SF Leased of Office Space
After touring numerous office buildings, Progressive Casualty Insurance Company, a Fortune 100 company, leased over 14,000 SF of Class A office space in Quail Springs Parkway Plaza. The quality of the building plus the amenity package consisting of a health club, restaurant, covered parking, security personnel and on-site property management aided in the decision to locate in Quail Spring Parkway Plaza. Tom Fields with Price Edwards & Company handled this transaction.