Press Release

Floor & Décor Location In Oklahoma City Sells

09 11 2018

OKC-PR-2018-Retail Stock Image

CBRE announces that the newly constructed Floor & Décor building at 6100 SW 5th Street in Oklahoma City has sold to Phoenix, Arizona based VEREIT Acquisitions, LLC.

The 75,115-square-foot freestanding, single tenant retail building located within the newest phase of Westgate Marketplace, at the crossing of I-40 and S. MacArthur Boulevard, sold for $11,000,000 and closed escrow on October 25, 2018.

CBRE’s Jason Little, CCIM, and Justin Brannon handled the transaction between the buyer and the seller, MI #1, LLC (Zerby Interests).

“This acquisition further enhances VEREIT’s investment portfolio within the state of Oklahoma, now approaching 80 individual assets at last count,” says Jason Little, CCIM, First Vice President at CBRE in Oklahoma City. “We continue to see strong demand in the single-tenant space for newly constructed assets with long-term leases, particularly those leased to retailers whose businesses aren’t as susceptible to e-commerce sales and which occupy buildings that could suit a range of potential uses, including wholesale or direct to consumer distribution, rather than single-purpose improvements.”

Floor & Décor will continue to occupy the building under a long-term lease agreement.

 

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.