BRICKTOWN LUMBERYARD SOLD FOR $8,000,000

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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.  

Retail Investment Team Closes $8,000,000 Bricktown Sale

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100 S. Charlie Christian Ave.
Oklahoma City, OK 

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.