Mathis Brothers buy their father's interest in furniture store

Journal Record, The (Oklahoma City), Sep 27, 2002

Leonard Don Mathis, trustee of the Leonard Don Mathis Trust, sold for $4.4 million his interest in the Mathis Brothers Furniture property at 3434 W. Reno Ave. in Oklahoma City to Mathis Brothers Furniture, which is operated by his two sons, Bill and Larry, according to Oklahoma County property records.

The property, which includes a 134,800-square-foot, two-story showroom and warehouse and a 126,360-square-foot, one-story warehouse, sits on about 10.52 acres of commercial property at the northwest corner of Interstate 40 and Interstate 44.

Company officials said the transaction was an internal transfer of property ownership from Leonard Don Mathis to the business.

Capitol Abstract and Title Co. closed the transaction.

Barry buys manufacturing site

Donald J. Barry, a principal of Airborne Coatings, bought a warehouse and manufacturing building at 3920 NW 39th Expressway in Oklahoma City for $900,000 from Fred Jones Cos., participants in the sale said. Airborne Coatings plans to expand its Oklahoma City operations. Mark Patton of Gerald L. Gamble Co. handled the sale. Linda Cable with Stewart Abstract & Title Co. handled the closing.

Association buys offices

The Jim Thorpe Association, a not-for-profit charity in Oklahoma City, bought an office building at 4040 N. Lincoln Blvd. in Oklahoma City for $750,000 from 40Lincoln LLC, according to Oklahoma County property records. The 22,154-square-foot, two-story building was built in 1962 on about 2.27 acres of commercial land. Officials with the association said a news conference would be scheduled around Oct. 20 to announce the association's plans for the building.

The Jim Thorpe Association is the sponsor of the Jim Thorpe Award, an annual award for the best defensive back in college football. The association also manages the Oklahoma Sports Hall of Fame and sponsors numerous sports-related youth programs and anti-drug programs statewide.

Lawyers Title of Oklahoma City handled the closing for the transaction.

Steak & Ale site sold

Hal Smith Restaurant Group bought a former Steak & Ale restaurant building at 500 S. Meridian Ave. in Oklahoma City for $660,000 from S&A Properties, participants in the sale said this week. The 5,244- square-foot building was built in 1969 on about one acre of land zoned for industrial use and remodeled in 1978. John Cohlmia and Louis Almaraz of NAI Harrison Levy handled the transaction.

Hal Smith, of Hal Smith Restaurant Group, has developed restaurants in the area such as Charleston's Restaurants, On the Border, Krispy Kreme, Boomerang, Coach's and Outback Steak House.

Willis buys warehouse

Willis Properties bought a distribution warehouse and offices at 13305 N. Santa Fe Ave. in Oklahoma City for $550,000 from Todco Inc., according to county property records. The 6,000-square-foot warehouse and 1,802-square-foot office space were both built in 1988 on about five acres of commercial property. American Guaranty Title Co. closed the transaction.

MWC land sold

Genprop Operators bought 12 acres of commercial property near SE 29th Street and Douglas Boulevard in Midwest City for $505,000 from Jeffrey D. and Ruby Johnson, according to county property records. Betty J. Cummins with First American Title & Trust closed the transaction.

Car wash sold

Sanjay A. and Asha S. Patel bought a car wash at 3602 S. Pennsylvania Ave. in Oklahoma City for $487,500 from Hurricane LLC, whose managing member is Earl W. Bridwell, participants in the sale said. The 2,500-square-foot car wash building was built in 1982 on about 0.42 acres of commercial property. Cable with Stewart Abstract & Title closed the transaction.

Aspen Hills lots sold

High Strive Construction of Norman bought 31 lots in the Aspen Hills Addition to Oklahoma City for $310,000 from Prime Development Corp., whose president is Paul Iser, according to county property records. First American Title & Trust closed the transaction.

Duplexes sold

Dave Jones bought the Lyrewood Duplexes at 6713 Lyrewood Lane in Oklahoma City for $300,000 from NIBAC, participants in the sale said this week. The six units of the duplexes totaled 2,618 square feet and were built in 1978 on about 0.18 acre. The Apartment Group at First Commercial Real Estate Services represented the buyer. Steve and Jill Kyle with KyleCor Realtors represented the seller. First American Title & Trust closed the transaction.

Salyers buy building

Christopher M. and Margaret S. Salyer bought a loft-industrial building at 1100 N. Broadway Ave. in Oklahoma City for $300,000 from John A. Hutchison Jr. and Mary L. Hutchison, according to county property records. The 20,440-square-foot, two-story building was built in 1928 on about 0.24 acre.

Switzer buys OKC site

Switzer's Locker Room bought a storage warehouse in south Oklahoma City for $283,000 from Early Bird Group, a limited liability company managed by former University of Oklahoma football coach Barry Switzer and a business partner, Larry Derryberry. The 35,280-square-foot storage warehouse was built in 1998 on about 11.67 acres of industrial property. First American Title & Trust closed the transaction.