OKLAHOMA CITY– February 29, 2016 – CBRE received five awards at the 2016 Commercial Real Estate Council Forecast Conference, held on February 25 at the Petroleum Club. The annual conference honors the top commercial real estate projects in the Oklahoma City area from the previous year.
CBRE took five of the eight awards that were given. The CBRE professionals and transactions that were recognized included:
Retail Lease Transaction of the Year: Chisholm Shopping Center
The addition of Sprouts to Chisholm Shopping Center on Garth Brooks Boulevard in Yukon, Oklahoma, will revitalize the older property and support additional new retail leasing activity. The deal required a negotiation with Hastings to relocate within the shopping center and a significant investment in tenant improvements for both Hastings and Sprouts.
Industrial Lease Transaction of the Year: 2101 S. Kelly Ave., Edmond
In 2014, Petra Accessories purchased 2101 N. Kelly in Edmond, Oklahoma. Petra’s expansion needs required Nestle Purina to relocate its warehouse. Nestle Purina’s 100,000-square-foot requirement and need to remain close to its existing facility left few relocation options. The solution involved swapping spaces with Petra’s previous facility.
Industrial Sale Transaction of the Year: Northgate Industrial Park
Crest Foods purchased a 220,000-square-foot warehouse at 4800 North Partnership in Oklahoma City, after signing a short-term lease until a commercial mortgage-backed securities loan for the asset and seven other buildings expired. The closing took a lot of coordination to make sure all eight buildings in the loan closed on the same day.
Office Sale Transaction of the Year: 2000 Classen Blvd.
Dowell Properties purchased five buildings at 2000 North Classen Boulevard in Oklahoma City, for $14 million. The portfolio includes four office buildings occupied by American Fidelity Assurance Co. and a one-story retail strip center at 18th Street and North Classen.
Land Sale Transaction of the Year: Southwest Corner of Northwest Expressway and NW 63rd Street
The Oklahoma City land parcel is prime corner land at one of the highest-trafficked intersections in the city. The new owner is planning hotel and mixed-use development for the site.
“CBRE aims to deliver exceptional outcomes that drive value and growth for our clients, and these award recipients have achieved that goal,” said Cary Phillips, Managing Director of CBRE’s Oklahoma and Northwest Arkansas region. “We are proud of these professionals and honored that CBRE was chosen to work on these transactions that have such a positive impact on our region.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
