Arvest Bank recently executed a lease for 41,373 square feet at 201 RSK in downtown Oklahoma City. Located in the heart of the CBD at Robert S. Kerr and Robinson, the building will serve as the Oklahoma City headquarters for the bank’s central Oklahoma operations. The building will be renamed Arvest Tower. An extensive renovation of the first floor and mezzanine areas is expected to be complete in fall 2020.
Arvest Tower has 16 floors, 202,000 total square feet, covered and adjacent parking and was built in 1972. The lobby features a 27-foot ceiling and tiled marble floors. Renovations will include removing some walls to open the lobby, updates to bathrooms and common areas and designing more contemporary, flexible workspaces for approximately 70 associates.
Arvest Bank, named by Forbes magazine as one of the “World’s Best Banks” for 2019, operates more than 260 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a group of 14 locally managed banks, each with its own board and management team. Craig Tucker with Price Edwards & Company and Bill Zei with McLeodZei provided brokerage assistance and handled the transaction.
Price Edwards & Company Brokers Sale of I-35 Site
Covell Healthcare Partners LLC purchased 1.89 acres of land from Cross Timbers Office Park. The site enjoys a prominent location at the northeast corner of Covell Road and Interstate 35 adjacent to a future BancFirst branch site and the Francis Tuttle Business Innovation Center. The buyer’s plans for the property will be announced at a later date. The property sold for $1,233,735. Craig Tucker with Price Edwards & Company handled the transaction.
Cumberland Trail Sold for $3,000,000.00
The Cumberland Trail Townhouses consists of 30 units that were built in 2008. It is a rare, smaller, Class A property that drew strong interest and we therefore we were able to deliver a buyer at a strong price per unit ($100,000). The property was 100% occupied at the time of closing, which enabled the buyer to obtain Freddie Mac financing. The property consists of all two bedroom units, with garages. The low-maintenance, full brick exterior, luxury interiors, and good location made this an attractive purchase for the buyer that was looking for a solid long-term investment. David Dirkschneider
and Mike Marrara
with Price Edwards & Company handled the transaction.
13,500 SF Lease on Reno Avenue
Jake's Jungle, LLC has leased two buildings totaling 13,500 square feet of industrial space at 1124 E. Reno Ave in Oklahoma City. It intends to utilize the space for their cannabis growing and processing operations. Mark Patton and Cody Beat with Price Edwards & Company handled the transaction.