Retail Investment Team Sells Single-Tenant NNN Mimi's Cafe in Oklahoma City, Oklahoma

Mimi’s Cafe is a triple-net lease tenant in the heart of Oklahoma City’s premier restaurant and retail corridor.  Built in 2003, this restaurant has become one of the most popular destinations for restaurant patrons in the Memorial Road corridor hosting large crowds on a regular basis.Mimi’s Cafe is in the midst of a 25-year lease, comprising of 15 years left on the initial term, with options to renew for an additional 10 years. Mimi’s Cafe is a US restaurant chain with 145 locations in 24 states. It is headquartered in Irvine, California.  Phillip Mazaheri and Paul Ravencraft, Retail Investment Team Specialists with Price Edwards & Company, handled the transaction.

RETAIL INVESTMENT TEAM ANNOUNCES SALE OF BUNKER HILL SHOPPING CENTER

Price Edwards & Company is pleased to announce the sale of Bunker Hill Shopping Center located in Altus, Oklahoma.

Bunker Hill Shopping Center consists of four separate properties. The Shopping Center consists of 63,000 square feet of national tenants such as Maurices, Stage, Sprint, GNC and Payless Shoes, which is 100% leased. The property also includes the former United Supermarket which is 45,600 square feet and a fully furnished free standing office building which was the Corporate Headquarters for the Supermarket consisting of 14,000 square feet. Bunker Hill has also secured a ground lease with 1st National Bank which has been at the location for over 35 years.. Phillip Mazaheri and Paul Ravencraft, Retail Investment Team Specialists with Price Edwards & Company, handled the transaction.

Price:  $3,725,000

Price / SF:  $30.38/sf

Land Size:  11.03 +/- acres

Buyer:  CSCO Partners, LLC

Seller:  Bunker Hill Co

Closing Date:  September 25th, 2014

PRICE EDWARDS' RETAIL INVESTMENT TEAM ANNOUNCES $15,000,000 SALE

PRICE EDWARDS & COMPANY IS PLEASED TO ANNOUNCE THE SALE OF CHASE PLAZA SHOPPING CENTER, PRIME REAL ESTATE IN THE HEART OF THE MEMORIAL CORRIDOR.

Chase Plaza is located in the center of the Memorial Corridor near the north west corner of Portland and Memorial Road in Oklahoma City, Oklahoma.  The 163,311 square foot center has approximately 1,040 feet of frontage on Memorial Road and 925 feet of frontage on north Portland Avenue.  Chase Plaza has a tenant mix of the following: Mercy Health Care, Oklahoma Heart Hospital, A La Mode and Ameribanc. Paul Ravencraft and Phillip Mazaheri, Retail Investment Team Specialists with Price Edwards & Company, handled the transaction.

Price:  $15,000,000

Price / SF:  $91.85

Improvement SF:  163,311

Land Size:  18.87 +/- acres

Buyer:  Chase Plaza, LLC

Seller:  Irmas Rock COD LLC and Gold Rock COD LLC

Closing Date:  April 2nd, 2014

PEC RETAIL INVESTMENT TEAM ANNONCES SALE OF POWER ALLEY PARKING GARAGE

Price Edwards & Company is pleased to announce the sale of Power Alley Parking Garage, prime real estate in the heart of Bricktown in Oklahoma City.

The Power Alley Parking Garage consists of 206,598 square feet of office and parking garage structure.  The garage has approximately 550 parking spaces with leases in place with the Hampton Inn & Suites hotel and the Hilton Inn & Homewood Suites, which is currently scheduled to complete construction by January of 2014.  The property was purchased from the developer Power Alley Parking, LLC.  Fred Mazaheri, with Midland Capital LLC, was the buyer of the 8-story office and parking structure.  

Price:  $9,375,000

Parking Spaces:  550

Price / Space:  $17,045

Improvement SF:  206,598

Built:  1999

Buyer:  Midland Capital, LLC

Seller:  Power Alley Parking, LLC

Closing Date:  June 14th, 2013

Paul Ravencraft and Phillilp Mazaheri, Retail Investment Team Specialists with Price Edwards & Company's, handled the transaction.

PEC ANNOUNCES SALE OF CHUCK E. CHEESE AT TOWNESOUTH CENTER

Price Edwards & Company is pleased to announce the sale of Chuck E. Cheese at Townesouth Center, prime real estate in the heart of South Oklahoma City.

Chuck E. Cheese is located on the southwest corner of the Townesouth Center development on Interstate 240 and South Walker in Oklahoma City, Oklahoma.  The 12,267 square foot building has approximately 1.36 acres of land.  Townesouth's shadow anchor tenants include Gold's Gym and On the Border.  The building was constructed in 2006.

Price:  $1,220,000

Improvement SF:  12,267

Land Size:  1.36 +/- acres

Buyer:  MVP Investments, LLC

Seller:  Oak Tree Capital, LLC

Closing Date:  May 22, 2013

Paul Ravencraft and Phillip Mazaheri, Retail Investment Team Specialists with Price Edwards & Company, handled the transaction.

PEC ANNOUNCES SALE OF QUAIL SPRINGS SHOPPES

Price Edwards & Company is pleased to announce the sale of Quail Springs Shoppes, prime real estate in the heart of the Memorial Corridor.

Quail Springs Shoppes are located in the center of the Memorial Corridor in Oklahoma City, Oklahoma.  The 17,000 square foot center has approximately 262 feet of frontage on Memorial Road.  Quail Springs Shoppes is anchored by Men's Wearhouse with the building construction completed in 2005.

Price:  $4,368,620

Price / SF:  $256.98

Improvement SF:  17,000

Land Size:  1.59 +/- acres

Buyer:  S.M.J. Industries, Inc. and Beckham Operating Cooperation

Seller:  Quail Springs Shoppes, LLC

Closing Date:  May 31, 2013

Paul Ravencraft and Phillip Mazaheri, Retail Investment Team Specialists with Price Edwards & Company, handled the transaction.

 

Retail Investment Team Announces Sale of Edmond Crossing

Price Edwards & Company is pleased to announce the sale of Edmond Market Place located at the southwest corner of Boulevard and 33rd Street in Edmond, Oklahoma.  This property is a neighborhood shopping center located in the heart of Edmond, Oklahoma.  The center has 96,118 square feet and was sold for $45.77 per square foot.

Price:  $4,400,000

Improvement SF:  96,118

Land Size:  9.18 +/- acres

Buyer:  PEC Cherokee

Seller:  BR Marketplace Center

Paul Ravencraft and Phillip Mazaheri, Retail Investment Team Specialists with Price Edwards & Company, handled the transaction.

Retail Investment Teams Sells Single-Tenant NNN On The Border Ground Lease for $1,150,000

Price Edwards & Company is pleased to announce the sale of On the Border ground lease at Towne South Plaza.  This property is a retail restaurant located in the heart of south Oklahoma City.  The building sits on 1.56 acres of land and was built in 2006.

Price:  $1,150,000

CAP:  8.57%

Seller:  Rosewood Ventures, LLC

Property Address:  544 W. I-240 Service Road, Oklahoma City

Building Size:  5,275 Sq Ft

Land Size:  1.56 Acres

Closing Date:  August 8th, 2012

Paul Ravencraft and Phillilp Mazaheri, specialists in Price Edwards & Company's Investment Division, acted as transaction brokers.

PEC ANNOUNCES SALE OF THREE STARBUCKS LEASED PROPERTIES

 Price Edwards & Company is pleased to announce the sale of three Starbucks leased properties located at 4755 S.E. 29th, Del City, OK; 1702 Muskogee Avenue, Tahlequah, OK; and Aspen Center at 2050 W. Kenosha Street, Broken Arrow, OK.

These properties consist of 8,862 square feet.  

 Price: $2,000,000

 CAP Rate on Actuals: 13.65%

 Seller: Dawn-BV, LLC

 Building Size Totals: 8,862 Sq ft

 Closing Date: July 3, 2012

 Sold In: 3 months from listing

   Paul Ravencraft and Phillip Mazaheri, Retail Investment Specialists in Price Edwards & Company’s Investment Division, acted as transaction brokers.

PEC ANNOUNCES SALE OF LENDER OWNED PROPERTY

  Price: $850,000

 CAP Rate on Actuals: 8.5%

 Address: 425 East State Highway 152, Mustang, OK

 Building Size: 7,754 Sq ft

 Undeveloped Lots: 29,686 Sq ft

 Price Edwards & Company is pleased to announce the sale of The Plaza at Pebble Creek; a retail center located on Mustang's busy highway 152, just east of the Pebble Creek golf course. The center consists of two buildings and  four undeveloped lots.  The property sold for $850,000 to NIC 1, LLC, an Oklahoma Limited Liability Company, and the seller was Spirit Bank. Paul Ravencraft and Phillip Mazaheri, Retail Investment Specialists in Price Edwards & Company's Investment Division, acted as transaction brokers.

Retail Investment Team Sold Spring Creek North Shopping Center

SOLD FOR: $2,700,000

Location: NW 122nd St & N May Ave, Oklahoma City, OK

Building Size: 38,941 square feet

Property Size: 4.09 acres

Year Built: 198

Comments: Spring Creek North was purchased by JAHCO OKC Spring Creek North, LLC.

The property was sold by Springcreek Realty, LLC.

Paul Ravencraft and Phillip Mazaheri, Retail Specialists in Price Edwards & Company's Investment Division, handled the transaction.

Investment Team Sales Crossroads Mall

Paul Ravencraft of the PEC Investment Sales Group sold the final piece of the Crossroads Development project for $3,500,000 to local investment group CRM Properties Group LLC. This piece included 762,532 square feet of improvements on approximately 53.67 acres. Making up the 762,532 square feet were the former JC Penney and Steve & Barry anchors buildings along with the inline mall and the former Ward’s automotive center. This sale was one of four sales completed by Price Edwards for Crossroads Maiden Lane, the owner of the development. Other sales included, a ground lease with two Marriott hotels, the AMC Theater and the former JC Penney automotive center. In total, PEC sold 941,745 square feet on approximately 84 acres for a total of $10,865,000. Price Edwards will continue to manage and lease the property.

Retail Investment Broker Sells Heritage Park Mall

AB AB, Inc. is increasing its presence in the Midwest City market by expanding its ownership of Heritage Park Mall, located at the intersection of Air Depot Boulevard and Reno Avenue, with the purchase of an additional 213,280 square feet.

This purchase brings AB AB, Inc.’s total ownership in the mall to 346,340 square feet with approximately 27.74 acres total of land. Plans to renovate the building include roof repairs and securing the building due a casualty that occurred to the property while under contract.

The purchase price was $1,300,000 at a discounted rate of $6.10 per square foot. Phillip Mazaheri of Price Edwards & Company represented the buyer in the transaction.

Memorial Medical Building Sold in Oklahoma City, Oklahoma

Phillip Mazaheri of Price Edwards & Company’s Investment Sales Division brokered the sale of Memorial Medical Plaza to Hilltop Plaza, LLC.

The sales price was $2,795,000.

The Class A building, located just north of Memorial Road across from Mercy Hospital, contains 18,336 square feet and was 94% leased.

It was built in 2007.

The seller was Walther Properties.

Price Edwards & Company has brokered the sale of over 50 office and medical office properties.