OFFERING MEMORANDUM - LoopNet · 2018-11-29 · development program that includes two low-water...

KRIS DAVIS, SIORSenior Vice PresidentC [email protected]

BRETT PRICE, CCIM, SIORSenior Vice PresidentC [email protected]

BRETT PRICE, CCIM, SIORSenior Vice PresidentT 405.606.7153C [email protected]

COLLIER IMGRUNDIndustrial AssociateC [email protected]

OFFERING MEMORANDUM

1421 S SHERIDAN RD., TULSA, OK

www.newmarklsb.com

TULSA OFFICE110 W 7th St., Suite 2600Tulsa, OK 74119

OKLAHOMA CITY204 N Robinson, Suite 700Oklahoma City, OK405-840-1500

CONFIDENTIALITY/DISCLAIMER

All materials and information received or derived from Newmark Grubb Levy Strange Beffort its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental require-ments, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither Newmark Grubb Levy Strange Beffort its directors, officers, agents, advisors, or affiliates makes any representa-tion or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. Newmark Grubb Levy Strange Beffort will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their owninspections and investigations including through appropriate third party independent professionals selected by such party. All financialdata should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriateindependent professionals. Newmark Grubb Levy Strange Beffort makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Newmark Grubb Levy Strange Beffort does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable con-tractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determinerents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attor-ney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Newmark Grubb Levy Strange Beffort in compliance with all applicable fair housing and equal opportunity laws.

OFFERING MEMORANDUM


KRIS DAVIS, SIORSenior Vice PresidentC [email protected]

BRETT PRICE, CCIM, SIORSenior Vice PresidentC [email protected]

COLLIER IMGRUNDIndustrial AssociateC [email protected]

PROPOSAL FOR COMMERCIAL SERVICES

TULSA OFFICE110 W. 7th Street, Suite 2600Tulsa, OK 74119

1. PROPERTY INFORMATION 4

Executive Summary 5

2. LOCATION INFORMATION 6

Regional Map 7

Location Maps 8

Aerial Maps 9

3. MARKET OVERVIEW 11

4. ADVISOR BIOS 23

TABLE OF CONTENTS

www.newmarklsb.com


OKLAHOMA CITY204 N. Robinson, Suite 700Oklahoma City, OK 73102405-840-1500


SECTION 1

PROPERTY INFORMATION

OFFERING MEMORANDUM

Page 5Page 5

Originally constructed in 1956, this flex warehouse space maintains arterial frontagealong 15th and Sheridan. The building is within 2 miles of Highways 64, 44, and 244.The property's location between Broken Arrow and Tulsa makes it ideally situated toservice both markets.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• (4) 8' x 10' dock high doors• (1) 12' x 14' grade level door• (4) 10' x 10' loading bays• 384 parking spaces• Secure & lit parking• Security cameras• Exterior signage• Central plant HVAC• 480Y/277V, 3-Phase, 4-Wire

OFFERING SUMMARY

Sale Price: $2,200,000

Price/SF: $18.77

Building Size: 117,204 SF

Office Size: 92,204 SF

Warehouse Size: 25,000 SF

Lot Size: 10.02 Acres

Year Built: 1956

Zoning: IM

Submarket: North Central Tulsa

Cross Streets: E 15th & S Sheridan


SECTION 1. PROPERTY INFORMATION


SECTION 2

LOCATION INFORMATION

OFFERING MEMORANDUM

Page 7Page 7


SECTION 2. LOCATION INFORMATION

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Page 9Page 9



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SECTION 3

MARKET OVERVIEW

OFFERING MEMORANDUM

Market OverviewThe Tulsa MSA — Creek, Okmulgee, Osage, Pawnee, Rogers, Tulsa and Wagoner counties — had a 2015 popula-tion of 981,005, one quarter of Oklahoma’s total population, and an estimated $33.6 billion GDP, 30 percent of the Oklahoma economy. Centrally located in the United States, Tulsa’s highway and port access connect it to the rest of the world.

Tulsa was classified as one of “America’s Most Livable Communities” by Forbes and is well known for its art collection. Art deco architecture is prevalent in many downtown buildings and churches. The Philbrook Museum of Art is highly regarded and the Gilcrease Museum houses the world’s largest and most com-prehensive collection of art and artifacts of the American West. The Tulsa MSA is home to ten higher education facilities including The University of Tulsa, Oral Roberts University, and branches of both Oklahoma State University and the University of Oklahoma.

In 2003, Tulsa County approved a one-penny, 13-year increase in the Tulsa County Sales Tax, called Vision 2025. This package has generated more than $651 million in economic development and capital improvements, including the BOK Center, which itself has brought an estimated $300 million in economic impact. On April 5, 2016 every city in Tulsa County voted to extend the original Vision 2025 sales tax, including upgrades to public safety, transportation, education and infrastructure. It also means a 15-year tax to fund a $510 million economic development program that includes two low-water dams on the Arkansas River, a $65 million addition to Gilcrease Museum, a $55 million renovation of Cox Business Center, $30 million for Expo Square improvements, $27.5 million for Tulsa International Airport and $25 million for the Tulsa Zoo.

In March 2016, Tulsa’s unemployment rate was 4.7%, lower than the national

average despite declines in energy-based employment. Tulsa boasts a business base with aerospace, health care, energy, transportation, distribution, logistics and manufacturing. Sound infrastructure, low cost of doing business, and strong eco-nomic fundamentals continue to attract new companies.

In October 2013, the Creek Nation broke ground on River Spirit Casino Phase II at their casino on the Arkansas River. The $365 million expansion will include a 27-story glass resort hotel tower, 2,600-seat showroom theater, 1,500-car parking structure, and Jimmy Buffett’s Margaritaville restaurant and bar with an adjacent casino. “This is a game-changer not only for River Spirit Casino, but the entire Tulsa region,” said Pat Crofts, CEO of Muscogee (Creek) Nation Casinos. “Not only will we be adding this incredible destination resort, but the entire region will benefit from the added jobs and boost to the local economy.”

Tulsa has earned a number of recent accolades for its

economic strength and quality of life, including:

No. 1 city among top 100 U.S. metros on growth and inclusion

(Brookings Institute 2016)

No. 2 best city nationally for starting a business (WalletHub.com 2015)

No. 3 nationally for new and expanded facilities among tier II cities

(Site Selection 2016)

No. 4 best north American city for aerospace (The World’s Most Competitive Cities 2015)

No. 5 most affordable big city in the U.S. (Yahoo Finance/Kiplinger 2014)

TULSA ACCOLADES


SECTION 3. MARKET OVERVIEW

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Population

Total Employment by Industry

Cost of Living Index

SECTOR 2013 2018Ann. Growth 2014-2018

Information 8.90% 6.40% -3.20%

Air Transportation 7.10% 5.00% -3.00%

Business & Prof. Services 55.10% 56.10% -0.20%

Transportation, Warehousing 18.20% 16.90% -0.10%

Financial Services 23.80% 23.10% -0.10%

Leisure & Hospitality 36.80% 43.30% 1.30%

Wholesale 15.90% 17.20% 1.50%

Education & Health Ser vices 64.10% 72.80% 1.50%

Government 57.10% 62.60% 1.60%

Manufacturing 46.50% 57.20% 1.70%

Retail 45.40% 54.90% 2.30%

Mining 6.80% 9.10% 2.50%

Construction 20.60% 25.90% 3.20%

Tulsa Chamber, 2015 Economic Profile

The Tulsa MSA popu-lation grew 1.1% in 2015 to 981,005. It was the largest one-year increase in population this decade for the metro area. Tulsa will likely hit the million-population mark between 2017 and 2018. Tulsa metro’s population is expected to slightly outpace the projected national growth in the next 5 years. Tulsa’s median age is 36.7, with 30% minority ethnicity.

City Cost of Living Index

Memphis 84.5

Tulsa 86.0

Tucson 92.8

Wichita 93.1

Little Rock 95.2

Detroit 95.3

Charlotte 96.4

Pittsburgh 98.6

U.S. 100

Denver 109.6

Chicago 116.2

Boston 144.3

Washington DC 146.8

San Francisco 176.4

Manhattan 227.4Source: Cost of Living Index, C2ER 2015 Q4

820,000

840,000

860,000

880,000

900,000

920,000

940,000

960,000

980,000

1,000,000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Tulsa population Growth



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VISION 2025 | $884.1 MILLION TOTALOn April 5th, 2016 every city in Tulsa County voted to extend the original Vision 2025 sales tax. This balanced package includes improvements in public safety, streets and transportation and eco-nomic development. The Arkansas River Development alone has the potential to add $122 million in annual revenue and 1,800 jobs.

GATHERING PLACE | $200 MILLION+A 55-acre park has been announced as a $200 million+ project partially funded by the Kaiser Foundation along Riverside Drive at the Arkansas River. Features of the world class waterfront park will be a five-acre Adventure Playground and Mist Mountain, sports courts, bike and skate parks, nature trails, large lawns for concerts, a lodge, a boathouse, pond and two land bridges connecting the two sides of the park. The second phase of the project will include a cultural museum. Construction began in September 2014 and is projected to be fully completed by 2017 or 2018. When completed, it will be the largest park in Oklahoma history.

RIVER SPIRIT CASINO | $335 MILLIONIn October 2013, the Muscogee (Creek) Nation broke ground on the $335 million dollar expansion at the River Spirit Casino Phase II. The expansion will add a 26-story luxury hotel, convention, and meeting space, a large pool deck and riverfront entertainment. The expansion incorporates the existing Jimmy Buffett’s Margaritaville complex which includes a 45,000 square foot themed casino, restaurant, bar, and retail outlet. The expansion also includes a new showroom theater, an upscale steakhouse, a new parking structure, and a new grand entrance to the facility. The economic impact of the two year construction project is projected to be ap-proximately $305 million with more than 1,800 construction jobs. Once the project is complete, the casino will hire another 800 full-time employees.

TULSA COMMUNITY COLLEGE RIVERSIDE COMMUNITY CAMPUS AND AVIATION CENTERTCC remodeled an existing building that, in addition to classroom space, now houses a $1.4 million air traffic control simulator; three flight simulators, including a full-motion flight training simulator; and a 25,000 square foot hangar, home to TCC’s fleet of six air-craft. Among the benefits of the new location, which began holding classes in January, is the opportunity for future expansion.

SHANGRI-LA GOLF CLUB, RESORT, AND MARINA | $15 MILLIONShangri-La Golf Club, Resort and Marina plans to open a 38,000 square foot hotel in the spring of 2017, including 120 guest rooms, a casual dining restaurant, outdoor and indoor bar and grill venues,

a rooftop patio bar, a 7,000 square foot conference center, a ball-room, spa, pool, splash pad and playground. An estimated 45,000 visitors are expected by 2018.

BMX STADIUM & HEADQUARTERS | $15 MILLIONThe American Bicycle Association and USA BMX officially an-nounced their move to Tulsa, a day after voters approved $15 million in funding for a new BMX stadium and headquarters – a part of the Vision Tulsa vote. The move is expected to bring more than 50 jobs and $10 million in additional economic impact each year to the Tulsa area.

STONEY CREEK HOTEL & CONFERENCE CENTER | BROKEN ARROWStoney Creek will have 187 hotel rooms, an indoor/outdoor swim-ming pool, and a conference area of 40,000 square feet and is expected to open in late 2016.

Economic Development | Metro Area



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TRANSOK BUILDING | 37 LUXURY APARTMENTSThe Transok Building, 2 W. Sixth St., will have four of its floors converted into 37 luxury apartments that are scheduled for avail-ability by end of summer 2016. The first floor will have retail space available for lease.

EAST END VILLAGE | $11.5 M MIXED USE PROJECTThe first phase of East End Village, which created 48 apartments on the block, is now completely occupied. An additional 35 apart-ments are nearing completion, along with 6,000 square feet that could be used for retail or office space.

FIRST STREET LOFTS | 22 UNITS, $6.5M The former Jacob’s Hotel will be transformed into 22 residen-tial lofts with a roof top deck, ground-floor restaurant and retail spaces. Estimated to be completed Summer 2016.

HAMPTON INN | $17.3M Part of Phase II of the One Place development, a nine-story Hampton Inn & Suites will include 122 guest rooms along with a swimming pool, deck and fitness area. Projected completion end of 2016.

120 GREENWOOD VILLAGE | $25MSix-floor mixed-use project in the Greenwood District, directly across from ONEOK Ballpark. It includes a 96-suite extended stay hotel by Towne Place Suites, ground floor retail, office space and 157 parking spots. Estimated completion late 2016.

Economic Development | Downtown



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OFFICE Sutherland Global 150+ job expansion E.TulsaHogan Assessments HQ 35,000 SF 11 S. GreenwoodGateway Office Plaza 85,000 SF JenksSanta Fe Square 157,000 SF Downtown Tulsa

RETAILTrader Joe’s 9,500 SF PeoriaOpened February 2016. 80% of employees will be from the Tulsa area.

Cherokee Outlets $80M, 300,000 SF CatoosaUpscale outlet mall and an entertainment district that connects the shops to the Hard Rock Hotel & Casino Tulsa.

The Boxyard 30+ shipping containers Downtown TulsaFuture tenants include Dwelling Spaces, MASA Restaurant, Joebot’s Coffee Bar. Proposed opening Spring 2016

Catoosa Hills Shopping Center CatoosaAnchored by Walmart and fueled by the activity in the Port of Catoosa. Several tenants have already opened or will do so soon.

The Walk at Tulsa Hills $32.5M, 150,000 SF Tulsa HillsRetail development anchored by Cabela’s, also includes an Aldi grocery store, Mathis Bros, Chuy’s Mexican Restaurant and Gander Mountain. When construction is complete, also will include a 47,000 square foot movie theater and other retail and restaurants.

Costco 148,000 SF 103rd & MemorialOpened April 2016, this is Costco’s 705th store, and its opening resulted in more than 30 new jobs.

INDUSTRIALMacy’s Distribution Center $180M 1.3M SF OwassoBaker Hughes Artificial Lift Research & Technology Center $40M 80,000 SF ClaremoreCenterGate Business Park $60M 113,120 SF East Tulsa

MEDICALSaint Francis Hospital opened an 8-story patient tower and emergency room consisting of 450,000 SF of new construction and 50,000 SF of renovation. The $206M project is one of the largest recent medical additions in Tulsa.Post Acute Medical broke ground on its second Tulsa location and should be complete by Fall 2016. The 55,000 SF facility will provide 120 new jobs.

EDUCATION

Tulsa Technology Cent. $38.5M Owasso CampusIn August 2013, students began first semester.

MULTIHOUSINGMetro at Brady Arts 75 units Downtown TulsaThe Meridia 93 units TulsaReserve at Aspen Creek 240 units Broken ArrowDavis Village 289 units TulsaThe Edge 160 units TulsaCreekside Luxury Apts. 248 units Broken ArrowResidences at Boardwalk 377 units Bixby

New and Recent Economic Development | Metro Area



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Economy | EmploymentOklahoma has earned national attention since the recession of 2008 for its strong economic progress, in large part due to the expanding energy sector. The Tulsa metro has outpaced other regions in the areas of job creation, business attraction, and other key economic drivers. In January 2016, Tulsa reported a 4.7% unemployment rate, significantly lower than the national rate. The Tulsa Chamber forecasts employment will increase 2.2% an-nually until 2018 with most of the jobs created in the manufactur-ing, professional services, health care, and aerospace industries. The American Airlines maintenance facility is one of the largest private employers in the metro with 6,300 workers. AA’s Tulsa base is the world’s largest private maintenance facility, providing heavy maintenance work for its Boeing 757 and 777 fleets.

Tulsa is no longer called the “Oil Capital of the World” as it was in the early part of the 20th century, however the energy sector continues to be a leading economic driver for the metro. The oil and gas sector accounts for 5.6% of all non-farm employment in the Tulsa metro, but it supports a broad range of sectors through-out the economy. Every 10 employees in oil and gas support 23 additional employees in the local economy: 9.5 of whom work in industries that directly supply resources to the oil and gas indus-try. Statewide, more than 344,500 jobs are supported directly or indirectly by the oil and natural gas industry.

In April 2014, Macy’s broke ground on its newest order fulfillment center in the Tulsa metro. The facility will be 1.3 million square feet and cost approximately $180 million. The company plans to hire up to 5,000 people during peak season. This is the largest job announcement for the Tulsa metro in nearly a decade. The Macy’s center is projected to generate approximately $800 mil-lion in the value of goods and services produced. Tulsa beat out many other cities vying for the distribution center due to its strong employment base and affordable business costs.

Tulsa’s Port of Catoosa is the second farthest inland river-port in the US and is the head of navigation for the McClellan-Kerr Arkansas River Navigation System (MKarns) which runs south-east through Oklahoma and Arkansas to the Mississippi River. The Port of Catoosa is a 2,000-acre industrial park resulting in an economic impact of $300 million to Oklahoma. The Port employs over 4,000 Oklahomans within 60 commercial and industrial companies. In 2013, the Port of Catoosa handled 2.7 million tons of barge cargo. The Main Dock Warehouse will be undergoing extensive upgrades and will be completed in 2016. The improve-ments will enable the port to move larger amounts of cargo more quickly.

Tulsa-area job announcement highlights in 2015 & 2016Company Type New JobsUSA BMX HQ Bicycle Motocross Assoc. 50Containment Solutions Mfg Fuel Storage 85Center for Orthopedic Reconstruction & Excellence Specialty Hospital 130

Financial SamaritanHQ Web-Based Credit Services Co 140

Sutherland Global Services Contract Accounting & Analysis 150EAN Services Rental Car Shared Services 214Consumer Affairs Consumer Products 220Big Elk Energy Systems Engineering, Design & Mfg 340St. Francis Health System Health Care 396Alroica Customer Service Center 400



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Leading IndustriesAEROSPACETulsa is home to more than 70 aerospace companies and more than 14,000 aerospace jobs. Tulsa is considered a leader in the aerospace industry. The American Airlines Maintenance Repair and Overhaul Division, Tulsa’s largest aerospace employer, and many other aero-space companies are proud to call Tulsa home and continue to foster growth in the aero-space industry.

ENERGYEnergy played a vital role in the development of Tulsa since the early 20th century. Oil was discovered in northeast Oklahoma and Tulsa soon became known as the “Oil Capital of the World”. Energy continues to directly support approximately 10 percent of the jobs in the area. Petroleum engineering and energy management curriculum in higher-education institutions throughout the metro are some of the best in the world, and prepare the next generation of energy industry leaders.

HEALTHCAREHealth care accounts for more than 64,000 direct jobs in the Tulsa region for a direct total economic impact of $3.8 billion. Medical students perform approximately 300,000 patient visits per year at 24 community clinics. In 2014, Saint Francis Hospital opened an 8-story patient tower and emergency room, one of the largest recent medical additions in Tulsa. The $206 million project was 450,000 square feet of new construction and 50,000 square feet of renovation.

MANUFACTURINGTulsa’s manufacturing has been led by the booming oil and gas sector. Tulsa metro area has over 54,000 manufacturing jobs and the Tulsa Chamber forecasts that manufacturing hiring will continue. Garner Economics reported that Tulsa ranked 12th in manufacturing growth nationwide from April 2010-2014.

AaonAEP/Public Service Company of Oklahoma

American Airlines Maintenance BaseAT&T

Baker HughesBank of Oklahoma

Broken Arrow Public SchoolsBlue Cross/Blue Shield of Oklahoma

Cherokee Hard Rock Hotel and CasinoCity of Tulsa

DirecTVHillcrest Healthcare System

IC of OklahomaJenks Public Schools

NORDAM GroupONEOK

ONE GasOsage Casinos

OSU Medical CenterOU-Tulsa Schusterman Center

Owasso Public SchoolsQuikTripReasor's

River Spirit CasinoSaint Francis Healthcare System

Spirit AeroSystemsSt. John Medical Center

State FarmTulsa Community College

Tulsa CountyTulsa Public SchoolsU.S. Postal Services

Union Public SchoolsUniversity of TulsaVerizon Business

Wal-Mart/Sam's ClubWilliams Companies

Major Employers 1,000 or more employees



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Alliance Coal, LLCGBK Corp. (Kaiser-Francis Oil Co.)

Mazzio’s CorporationNational Truck Parts, Inc (CCI Corp.)

QuikTripSamson Investment Co.

Seminole Energy Services, Co.United States Beef Corp. (Arby’s)

Private Companies Headquartered In Tulsa

AAON, Inc.Addvantage Technologies Group, Inc.

Amerex GroupBOK Financial Corp.

Helmerich & Payne, Inc.Magellan Midstream Partners, LP

Matrix Service Co.ONEOK, Inc.

Orchids Paper Products Co.Public Service Company of Oklahoma

Unit Corp.Williams Co., Inc.Williams Partners

Public Companies Headquartered In Tulsa



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TransportationPORT OF CATOOSAAn inland multi-modal shipping complex on a 2,000-acre industrial park. Each day, products are moved through the Port using barge, rail and truck. In 2012 and 2013 the Port of Catoosa handled more than 2.7 million tons annually.

TULSA INTERNATIONAL AIRPORTTulsa is home to two airports. Commercial air travel through Tulsa International Airport (TUL) and gen-eral aviation services available at R.L. Jones, Jr. Airport (RVS). Airline carriers at TUL include: Allegiant, American Airlines, Delta, Southwest, United and U.S. Airways.

Non-stop service to 17 cities throughout the U.S. is available at Tulsa including Atlanta, Charlotte, Chicago, Dallas, Denver, Houston, Newark, and Washington D.C. In July 2014, passenger activity increased 13.2% year-over-year repre-senting the largest growth in activity since May 2004.

STREET PROJECTSIn November, 2008, Tulsans voted to make a sizable investment in the commu-nity to provide $451.6 million in funding through the third penny sales tax and a general obligation bond issue. The two funding packages combined to represent the largest investment in infrastructure in Tulsa’s history. Most of the Fix Our Streets projects are already completed, and 23 are currently under construction. In 2014, Tulsans passed an Improve our Tulsa package, which replaced the 2008 Fix Our Streets program which expired in mid-2014. The package is a $918.7 million in capital improvements throughout the city funded by a 1.1% sales tax and a $355 million streets and bridges bond issue. More than half of the funds will be used for street repairs with smaller portions allocated for street widening and bridge improvements.

LOCATIONTulsa’s location offers easy highway access to all parts of the country. Interstate 44 is the city’s major east/west thoroughfare which provides access to Oklahoma City and Joplin, Missouri. Highway 75 goes through Tulsa north to Kansas City or south to Dallas. The Creek Turnpike, Will Rogers, and Muskogee turnpikes offer easy destination access throughout the metro. Historical Route 66 runs through the heart of the city.

MASS TRANSITTulsa Transit operates the local bus service in Tulsa and the surrounding com-munities. The bus system provides scheduled routes for the public and demand response curb-to-curb service for the elderly and disabled. Nearly $30 million of the Improve our Tulsa initiative was allocated for improvements in Tulsa’s public transit system including the purchase of a few new CNG buses to replace older buses, improving the quality of Tulsa’s air and reducing the cost of public transportation.



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EducationA dedicated group of city leaders has continued interest in the educational foundation of Tulsa. As a result, quality education is synonymous with the Tulsa region.

• More than 64 percent of Tulsa area residents have a high school diploma or higher, while nearly 26 percent have a Bachelor degree or higher.

• Oklahoma ranks No. 3 in the nation in early childhood education.

• In addition to the Tulsa Public Schools system, private and parochial systems within the Tulsa metro area offer complete Pre K-12 programs.

• Two-year higher education institutions in Tulsa include: Tulsa Community College, and Tulsa Technology University.

• Four-year higher education institutions in Tulsa include: The University of Tulsa, University of Oklahoma-Tulsa, Oklahoma State University-Tulsa, Oral Roberts University, Northeastern State University-Broken Arrow, Langston University, Spartan College and University of Phoenix-Tulsa Campus.

• Programs such as Tulsa Community College’s Tulsa Achieves pays up to 100 percent of tuition and fees for eligible students living in Tulsa County. Other programs vary from one institution to the other, making education a top priority in Tulsa.

• On March 2, 2010 Tulsa voters approved the largest school bond package in state history. The $354 million bond package is a 20-year capital improvement plan that will pay for things such as building renovations, roof and window replacement, security systems, new libraries and books, computers, new textbooks, buses and music and art equipment.



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Tulsa has a rich history in the arts and a thriving ar-tistic community. Classic and cutting-edge institutions like the Oklahoma Jazz Hall of Fame, the Tulsa Opera, Tulsa Symphony and Performing Arts Center set the stage in creative expression. A stronghold in the arts and education, the Tulsa community takes pride in its rich history with places such as the Philbrook Museum, Route 66, Cain’s Ballroom and the Gilcrease Museum. The Gilcrease Museum houses the world’s largest, most comprehensive collection of art and artifacts of the American West.

NeighborhoodsTulsa’s unique districts and neighborhoods offer both family activities and ample attractions.

BLUE DOME DISTRICT A popular entertainment district encompassing nine square blocks in the eastern section of downtown Tulsa. It was named after 1920’s-era Gulf Oil station and known as a nightlife hot spot.

BRADY ARTS DISTRICTOne of the oldest sections in Tulsa and is character-ized by two-story brick warehouses. It’s home to Cain’s Ballroom and the Brady Theater. The Brady District has developed over the last 20 years into an entertainment and arts district, and is one of the most diverse areas in Tulsa. Each month, this area hosts a First Friday Art Crawl. The BOK Center is located southwest of the Brady District.

GREENWOOD DISTRICTHome to the ONEOK Field. Greenwood was known as one of the most successful and wealthiest African American communities in the US during the early 20th Century and earned the nickname America’s Black Wall Street.

CHERRY STREET DISTRICTLocated on 15th Street and is home to local restaurants, boutique shops, art galleries, antique shops, and vin-tage shops.

Arts and Culture



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SECTION 4

ADVISOR BIOS

OFFERING MEMORANDUM

Achievements & Recognitions• Newmark Grubb Top Producers -

2013, 2014, 2015 & 2017

• CREC Industrial Sale of the Year - 2013, 2015, 2016 & 2017

• CREC Industrial Lease of the Year - 2016

• NAIOP Industrial Sale of the Year, Tulsa - 2015 & 2017

• CoStar Top Industrial Leasing Broker - 2016 & 2017

• Journal Record Achievers Under 40

Areas of Specialization• Industrial Leasing & Sales

• Land Sales & Development

• Build to Suit

• Tenant & Landlord Representation

Professional AffiliationsMEMBER

• Certified Commercial Investment (CCIM)

• Society of Industrial and Office Realtors (SIOR)

• Oklahoma Commercial Real Estate Council (CREC)

• National Association of Industrial and Office Properties (NAIOP)

NOTABLE SALE TRANSACTIONS

ADDRESS PROPERTY SQUARE FEET SALE PRICE

524 & 600 N Sara Rd., Yukon Armacell & LKQ Portfolio 431,750 $26,850,000

Multiple, Tulsa, OK Thackeray Portfolio 523,624 SF $22,500,000

Multiple, Tulsa, OK Airpark Distribution Center 300,000 SF $20,930,000

Multiple, Arlington, TX Arlington Portfolio 455,331 SF $17,111,500

8301 N I-35 Service Rd., OKC Shur Tech Distribution Center 280,000 SF $17,000,000

Multiple, OKC & Tulsa OKC/Tulsa Portfolio 377,570 SF $16,700,000

4800 Partnership Dr., OKC Crest Foods Warehouse 220,000 SF $9,000,000

Multiple, Irving, TX Century Center 166,807 SF $9,000,000

11300 Partnership Dr., OKC Iron Mountain Warehouse 144,990 SF $8,150,000

6601 S Air Depot Blvd., OKC PODS Warehouse 144,000 SF $7,600,000

400 S Vermont, OKC Vermont Center 143,750 SF $7,050,000

4680 NW 3rd St., OKC RREEF Portfolio 260,115 SF $7,500,000

4200 SE 59th St., OKC Johnson Controls 153,130 SF $6,000,000

7201 Sunnylane, OKC Schlumberger Warehouse 124,800 SF $5,800,000

14343 N Kelley, OKC Cargill Refrigerated Warehouse 57,125 SF $4,200,000

607 N Miller Ave. AT&T Warehouse 125,000 SF $3,700,000

1515 McCurdy, Duncan Universal Trailers 141,200 SF $2,000,000

511 NE 31st St., OKC OK Tax Commission Warehouse 38,550 SF $1,700,000

W Reno & Sara Rd., Yukon FMC & Halliburton Portfolio 32,234 SF $1,500,000

Brett Price, CCIM, SIORSenior Vice [email protected]

Kris Davis, SIORSenior Vice [email protected]

Collier ImgrundIndustrial [email protected]

Brett Price, CCIM, SIOR, Kris Davis, SIOR and Collier Imgrund of Newmark Grubb Levy Strange Beffort, specialize in the leasing and sales of industrial properties and land development. They have over $290M in combined transactions over the past 5 years in the Oklahoma City and Tulsa areas.

NOTABLE LEASE TRANSACTIONS

ADDRESS TENANT SQUARE FEET

420 S 145th E Ave., Tulsa Sofidel American Corporation 274,600 SF

4200 SE 59th St., OKC Dex Heavy Duty Parts 153,130 SF

1609 B SE Grand, OKC AAR Supply Chain 131,400 SF

4680 NW 3rd St., OKC Pratt Corrugated Holdings, Inc. 107,100 SF

5101 S Council, OKC Reel Power 98,280 SF

4001 NW 3rd St., OKC SupplyOne 92,525 SF

5200 SW 36th St., OKC Xpedx 90,000 SF

4401 E Hefner Rd., OKC Kellogg 69,634 SF

4401 E Hefner Rd., OKC Amazon 60,000 SF

NOTABLE LAND TRANSACTIONS

ADDRESS PROPERTY ACRES PRICE

808 & 809 N Tulsa Ave., OKC Naifco Realty/RREEF 16 AC $2,700,000

W Reno & Sara Rd., OKC Niagara 26 AC $2,581,225

NW 10th & Sara Rd., OKC

Three Rivers West, LLC 39 AC $1,600,000

SW 74th & Rockwell, OKC JOBO, LLC 80 AC $1,320,000

Reno & Sara Rd., Yukon

Hoss Cooley Construction 70 AC $925,000

NOTABLE BUILD-TO-SUIT TRANSACTIONS

ADDRESS PROPERTY SQUARE FEET

200 Industrial Rd., Elgin BAE Systems 83,835 SF

3500 N Santa Fe Ave., OKC Cytovance Biologics 30,000 SF

10625 NW 4th St., Yukon KLX Energy Services, LLC 16,620 SF

40 S Morgan Rd., OKC Frank’s International 11,600 SF

15024 W Hwy 66, Yukon FTS International Service, LLC 10,950 SF

Lot 2, Block 1, Sapulpa Dish Network 8,229 SF

www.newmarklsb.com

204 N Robinson, Suite 700,Oklahoma City, OK 73102110 W 7th St., Suite 2600, Tulsa, OK 74119

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OFFERING MEMORANDUM - LoopNet · 2018-11-29 · development program that includes two low-water...

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