White Star Petroleum, LLC
Brad Rice and Adam Rumsey of Newmark Grubb Levy Strange Beffort brokered the sale of White Star Petroleum at 4615 W Lakeview Rd. in Stillwater, OK. J & R Investments, led by developers Tim Strange, Mark Phillips and Joel Flachs, purchased the 39,100 square foot office building.
"The new owner purchased the property because of the long-term opportunity it had with the existing tenant," said Brad Rice. "They are bullish on the oil and gas business in general, White Star's future in particular, and love the asset."
The offering is the first Curated Deal of Oklahoma City-based real estate crowdfunding search engine and data aggregator www.CrowdSeekr.com. Tim Strange is a co-founder of CrowdSeekr, and also serves as Vice President of Real Estate for the company.
Full article here.
At the start of 2017, more than 2 million square feet of space is under construction in the office, industrial, retail and multifamily sectors. Projects include the BOK Park Plaza downtown, Winco and Crest grocery stores, and several industrial and multifamily projects around the metro area. More projects planned for 2017 include the redevelopment of the First National Center, which was purchased in January, into hotel, apartments and parking. The city’s MAPS projects continue in various stages of planning and construction, including the $288 million, 200,000 square foot MAPS 3 Downtown Convention Center, which will break ground this year.