Insurance Auto Auctions buys 25-acre site near airport

Journal Record, The (Oklahoma City), Sep 7, 2001

Insurance Auto Auctions is entering the Oklahoma market with its $2.4 million purchase of a 25-acre site that used to serve as an offsite airport parking terminal known as The Parking Spot.

The Schaumburg, Ill.-based company bought the property at 5555 SW 44th St. from Premier Assets.

Insurance Auto Auctions is a provider of automotive and specialty salvage services providing turnkey solutions to process and sell total-loss and recovered theft vehicles. The company will have 59 locations in 28 states after it opens the Oklahoma facility.

"We're thrilled to be in (the Oklahoma) market. We're thrilled as a national company to have a presence there and to be able to help the insurance companies in Oklahoma better serve their policyholders," said Dan Oscarson, director of marketing for Insurance Auto Auctions.

Bentley Hedges Travel Service will continue to occupy 10,000 square feet of space in the 34,000-square-foot building.

"We'll use about 2,000 square feet for office space," Oscarson said. "The balance is an indoor warehouse."

CB Richard Ellis handled the sale. Barbara Chatman, with American Guaranty Title Co. closed the transaction.

Metal building sold

Blakemore Properties bought property at 6900 NW 63rd St. in Oklahoma City for $515,000 from Leadership Real Estate. Chatman closed the transaction.

Multifamily unit sold

Independent Living Services for Youth bought property at 1620- 1666 Stubbeman in Norman for $500,000 from 2X2 Investments. The buyer plans to utilize the 20-unit multifamily residential property for an independent living center for youth. Judy J. Hatfield, with Equity Realty, handled the sale. Rhonda Collett, Cleveland County Abstract Co., closed the transaction.

Restaurant sold

Scoville's LLC bought the real estate and existing business at 502 S. Webster Ave. in Norman for $340,000 from TBG Restaurants. Neil C. Worster, C&W Management, handled the sale. Laura Brezinksi, American First Abstract, closed the transaction. The business, The Service Station Restaurant, will continue to operate with new ownership and management.

Yukon antique shop sold

ASL Enterprises bought an antique shop located at 424 W. Main in Yukon for $213,000 from Karen Marie Shuman and Donna Dee Glyckherr. Chatman closed the transaction.

Church buys land

Norman First American United Methodist Church bought 7.71 acres on Beaumont Drive in the Colonial Estates No. 6 addition in Norman for $169,500 from David Litowitz and Boyd Watkins. The buyer plans to construct a new church facility on the land, with completion expected next year. Worster handled the sale. Penny Zumwalt, with American First Abstract, closed the sale.

Industrial lots sold

Allison's Fun Inc. bought four lots of Block 3 in the Northridge Industrial Park for $145,000 from Northridge Industrial Trust. The buyer plans to construct a new office/warehouse on the 80,000-square- foot commercial property. Hatfield and Eric C. Fleske, Equity Realty, handled the sale. Becky Nail, First American Title, closed the transaction.

Office building sold

Bradley McClure bought an office building at 1327 N. Robinson Ave. for $89,000 from James L. Sanders and Betty F. Sanders Revocable Trust. Chatman closed the transaction.

Other deals

The following transactions were recorded over the past week with Oklahoma County Clerk Carolynn Caudill:

$400,000+

U.S. Housing Partners III LP bought property on the southwest corner of Midwest Boulevard and SE 10th Street for $1.9 million from Rolling Meadows Apartments.

Cherokee Pipeline Corp. bought property on the northeast corner 164th Street and Kelly for $852,000 from The Childers Group.

TJM Properties LLC bought property in Silver Springs Crossing addition, OKC, for $794,500 from Intervest Development LP.

Granby LLC bought a lot in Gaillardia Residential Community Section VIII, OKC, for $700,000 from OPUBCO Development Co.

Newport Companies LLC bought property at 12601 Oakdale Forest Court, Oakdale Farm II Addition, OKC, for $450,000 from Equity Holding Co.

Jerry A. and Jolinda Warren bought property at 12824 Sutton Hill Road, Preston Hills addition, OKC, for $400,000 from Tom Hoshall Homes Inc.

$300,000s

James Michael and Nancy A. Allman bought property at 1405 Morning Star, Faircloud V addition, Edmond, 73034, for $387,000 from Terry D. and Sherry G. McMaster.

Brent W. Moody Revocable Trust and Kelly K. Moody Revocable Trust bought property at 620 NW 40th St., Crown Heights Addition, OKC, for $375,000 from Carolyn U. Hardy.

D. Steven and Margaret M. Harmon bought property at 1808 Ruidosa Drive, Olde Edmond I addition, Edmond, for $345,500 from James F. and Barbara C. Jackson.

Nalley Properties LLC bought property at 3117 Durango Way, Olde Edmond I addition, Edmond, for $337,500 from Weichert Relocation Co.

Albert J. and Patricia A. Bold bought property at 621 Deborah Lane, Fairway Estates Third Addition, Edmond, 73034, for $328,000 from Cory E. Jones Inc.

Douglas W. and Debra A. Jordan bought property at 4201 Wild Plum Lane, Oaktree Park Second Addition, Edmond, 73003 for $310,000 from C&C Vorderlandwehr Inc.