JLL closes sale of Oklahoma City-area retail center
The value-add property is anchored by a necessity-based retailer
DALLAS, October 21, 2019 – JLL announced today that it has closed the sale of Silver City Town Center, an 89,600-square-foot, necessity-based retail center in the suburban Oklahoma City community of Mustang, Oklahoma.
JLL marketed the property on behalf of the seller, Fields Investments.
At 92.3% leased, Silver City Town Center is anchored by necessity-based retailer Tractor Supply Co. and is also home to a variety of service, retail and restaurant tenants, including Mustang Urgent Care, Four Star Fitness, Mustang Optical, Laura’s Laundromat, Bronco Bowl, Playbox Indoor Playland and Marco’s Pizza. The center is fronted by several non-owned outparcel pads leased to KFC, Arby’s, Hibdon Tires Plus and Wild Hero. The property is situated on 9.46 acres at 101-361 N. Mustang Road in Mustang, which is 13 miles southwest of downtown Oklahoma City. Silver City Town Center is centrally located in the heart of Mustang on the northwest corner of State Highway 152 and North Mustang Road, where it is visible to more than 40,200 vehicles a day. Approximately 33,128 residents earning an average annual household income of $84,243 live within a 10-minute radius.
The JLL Capital Markets team representing the seller consisted of Director Aaron Johnson, Senior Managing Director Barry Brown and Analysts Austin Ross and Ross Crawford.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
Fields Investments manages commercial properties totaling in excess of 1.1 million square feet from its headquarters in Agoura Hills, California. Visit fieldsinvestments.com for more information.