OKC Major Land Transaction October 31, 2003

Journal Record, The (Oklahoma City), Oct 31, 2003 by Journal Record staff

Sooner Land Co. LLC purchased 35 acres of land at the northeast corner of SE 15th Street and Bryant in Edmond for $1.5 million from the Luther W. Marks Jr. Family Trust.

The property was purchased for future development, but no details regarding the development have been made public. Bob Stearns, managing partner of Sooner Investment Co., is head of the buyer group.

David Lide and Randy Lacey of Grubb & Ellis|Beffort Brooks Hogan handled the transaction.

Bam Investment acquires site

Bam Investment purchased 148 acres of raw land at the southeast corner of S. Anderson Road and SE 15th Street for $1.1 million, according to Oklahoma County records. The Patrick Group was the seller of the property.

The land was purchased for investment purposes. Plans for the property were not announced.

Land purchased for shopping center

Glen Eagles Plaza LLC purchased 2.8 acres of land at the southeast corner of NW 150th Street and N. Western Avenue for $495,000. The seller was Catco Exchange LLC.

The buyer group is planning to construct an unanchored strip shopping center on the property. According to David Lide, senior associate with Grubb & Ellis|Beffort Brooks Hogan, designs for the shopping center are still in the early stages with the construction time to be determined. The developers are based in Norman.

Lide and Lacey handled the transaction.

Norman office building sold

Innovative Properties purchased a 4,213-square-foot office building at 611 24th Ave. SW in Norman for $310,000 from First American Bank.

Constructed in 1984, the building was listed in good condition by Cleveland County Records.

Plans for the property were not announced by the Norman-based buyer group led by Scott Richison.

Jeff Moore Homes acquires land

Jeff Moore Homes purchased 38 acres of raw land just east of S. Post Road and north of SE 55th Street for $180,000, according to Oklahoma County records. The seller was George M. and Ruth M. Harbison. The developer purchased the land for a residential development.

Florist purchases site

Kent C. Whitnah purchased 5.98 acres of land at the northwest corner of Melrose Lane and N. MacArthur for $150,000 from Progressive Tool and Manufacturing.

Whitnah plans to construct a 15,000-square-foot warehouse for his wholesale florist building. In addition, Whitnah plans to occupy only a portion of the building and make the remaining space available for lease. The construction start date has not been scheduled. Lide and Lacey handled the deal for both buyer and seller.

Agri-Lawn to build facility

Agri-Lawn as New Frontier OKC Properties LLC, purchased three acres of land south of SW 36th Street on Thomas Road between S. Meridian and S. MacArthur. The land was purchased from SW 36th Street Investors LLC for $142,500. The lawn care company plans to build a facility on the site for its operations. Lacey and Lide represented the buyer and Raptor Realty represented the seller in the deal.

Church acquires land

Forest Hills Christian Church has bought a 3.7-acre tract of commercial land in the 6100 block of MacArthur Park Lane for $98,300. The seller was Vietnamese Community Church. The property, located just behind the Wal-Mart Neighborhood Grocery, will be used by the church for future construction. Steve Lay with Thomas Lay Realtors handled the transaction. Barbara Chatman with American Guaranty Title closed the sale.

Ruml buys three properties

Beth Ruml has acquired three duplexes on NW 29th Street from Robert Eubank, according to brokers at First Commercial Real Estate Services. The three duplexes Ruml purchased were 1109 NW 27th St. for $60,599, 1120 NW 27th St. for $70,250 and 1121 NW 27th St. for $67,500.

Purchase of the properties was made for investment purposes with no immediate changes planned for the properties.

The Apartment Group with First Commercial Real Estate Services handled the transaction for both buyer and seller. Marcie Chappelear with First American Title closed the sale.

Other deals

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

$400,000 and above

Michael A. and Brenda L. Pugliese bought property at 7400 NW 206th St., Edmond, 73003, for $840,000 from Joseph W. and Janet S. Bowie.

Bob and Roberta G. Walker bought property at 14724 Hollyhock Dr., Gaillardia Residential Community addition, Oklahoma City, 73142, for $789,000 from Henry F. and Janyce S. Coffeen.

David A. and Alice C. Hager bought property at $649,000 from K.C. Homes Inc.

Steven T. and Jackie D. Green bought property at 4800 Bocage Lane, Bocage Addition, Oklahoma City, 73142, for $620,000 from Sergio H. and Sarah E. Salinas.

Jackie T. Robinson bought property at 4100 Rock Canyon Road, Woodhill addition, Edmond, 73003, for $600,000 from Bank of New York.

Raecon bought property at 14501 Gaillardia Lane, Gaillardia Residential Community Section VIII addition, Oklahoma City, for $515,000 from Gaillardia Development.

Laurie L. Counts bought property at 812 NW 39th St., Crown Heights Addition, Oklahoma City, 73118, for $480,000 from Russell Dean Crain and D'Ann Deyong Crain.