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.

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.