TriStar Properties, a new to Oklahoma City large scale industrial developer, paid Marcia McCauley Morgan $2,250,000 for 27.08 acres of land at 9500 W. Reno Avenue, Oklahoma City. Chris Roberts with Price Edwards represented TriStar Properties in the transaction and will be leasing the space. The 27+ acre site has frontage on I-40 and Reno Avenue and is in close proximity to the I-40 and Morgan Road Interchange. TriStar Properties has developed over 15 million square feet and $1.1 billion in industrial assets. They expect to deliver the first class A industrial building on the site by mid-2023; plans are being finalized for up to 450,000 square feet of space.
TriStar Properties was a finalist for the 640-acre CLO site on I-240 which sold them on the Oklahoma City market. “We chose OKC because we are proponents of Midwestern markets with population growth, and where rental rates are strong, vacancy rates are low, and the inventory of modern product is limited.”, commented a TriStar Properties representative.