100 Years Later in Oklahoma City
Sperry Van Ness | Gregory Interests, LLC & Producers Cooperative - Oil Mill Announce Approximately 43 Acres Of Downtown Land Available For Sale - Land Provides Significant Opportunity For Public/Private Development
Oklahoma City, Oklahoma (June 12, 2010) - For almost 100 years, a tract of land on the North bank of the Oklahoma River has been the site of a seed compress. The street into the heart of the area is even named Compress Street. As the city grew the compress expanded to 43 acres. In the 1940s the Producers Cooperative Oil Mill purchased the operation and has consistently occupied and operated on this site, providing jobs for city dwellers and rural farm workers statewide.
Like the children’s story “The Little House,” the Producers Cooperative Oil Mill eventually was surrounded by a growing urban core of downtown skyscrapers, including the new 50 story Devon Tower under construction nearby. Public and private investment grew quickly and has in recent years topped $7 billion. A canal was built. Hotels, the Bricktown Entertainment District, riverfront development and luxury housing were completed to the North, South, and East. A convention center and 70 acre Urban Park are scheduled to fill the area to the West. At the heart of it all is the Mill.
The Producers Cooperative Board called on Gary Gregory, CCIM, to advise them in what was clearly becoming a valuable real estate decision. Gregory is the owner of Sperry Van Ness | Gregory Interests, LLC and is no stranger to downtown deals. His firm is Oklahoma’s most productive Sperry Van Ness franchise by closed volume since 2004 with a strong team of specialized brokers, including Joel Walker, his industrial specialist assigned to the Producers. In 2008, Gregory sold a portfolio of $132 million in luxury apartments. He sold the 960,000 sf skyscraper and Art Deco masterpiece, The First National Center. Other assignments included site selections for apartment complexes, luxury condominium sales, and consulting on converting skyscrapers to housing. Even the retail Bricktown Block at the heart of the entertainment district was sold at a record price.
Sperry Van Ness | Gregory Interests, LLC was awarded the listing. This listing is the largest single tract of land available for sale in the downtown area. They are now marketing the land nationally to REITS and Sale/Leaseback Investors and those who recognize the benefits of Oklahoma City, the progress of MAPS, and Oklahoma City’s reputation as an attractive place to work and live.
The site is uniquely situated south of Bricktown with views of the Oklahoma River and skyline. The area is near the Chesapeake Energy Boathouse and between the new I-40 location on the south, the new boulevard on the north, and the nearby canal to the east. The available tract of land represents an opportunity for many uses such as a Convention Center District. Expected developments include corporate headquarters, hotels, conventions, shopping, dining and residences within walking distance of Bricktown. For more information on the property and for a video tour, please visit http://sale.svn.com/producersland.
Two options exist for the sale of the property, as a net-leased Industrial sale leaseback transaction with credit enhancement or as a pure land deal. “I wanted to build the best flexibility into the Producers exit strategy. “ Gregory said. “This broadens our market to include Investment buyers who want good income or developers who are ready to move now.
“Assemblage of land is often very expensive and requires negotiations with many sellers, extended development times, and additional closing costs”, according to Gary Gregory. “The Producers Cooperative Oil Mill site is a single tract of land and has no assemblage costs or delays. This will accelerate public and private investment and result in an early increase of jobs and city revenues. Additionally, this property represents the most logical and economical link to the existing canal.”
Gary Conkling, President and CEO of PCOM states, “The Producers Cooperative Oil Mill directly supports thousands of agricultural jobs throughout Oklahoma and the region. When the land sells, we expect to reinvest in Oklahoma by expanding our operations here, creating additional jobs and developing new agricultural markets and efficiencies.”
Please direct purchase inquiries to Gary Gregory, (405) 605-2528.
About Producers Cooperative Oil Mill
The Producers Cooperative Oil Mill (PCOM) was established on June 20, 1944 when the vision of fourteen cooperative gins and three regional cooperatives became a reality through the purchase of Terminal Oil Mill in Oklahoma City, Oklahoma. Producers Cooperative has now completed over 65 years of successful operations in the cottonseed processing industry. Currently serving member gins in Oklahoma, Texas, Kansas, Arkansas, Missouri and Tennessee, Producers Cooperative Oil Mill and Producers Mid-South Company are respected industry leaders. Recently Producers Cooperative Oil mill installed equipment that enables them to process Canola and other oil seeds. Producers Cooperative played a major role in the establishment of Canola as a viable cash crop for area farmers.
About Sperry Van Ness | Gregory Interests, LLC
Sperry Van Ness | Gregory Interests, LLC has received more national awards than any other SVN franchise in Oklahoma, including Gary Gregory, CCIM being named as the top broker in the nation for Sperry Van Ness in 2008. This was the first time in company history that a franchisee achieved this top honor. Gregory was named the number six Sperry Van Ness advisor in the nation in 2009. Gregory Interests, LLC has closed volume of $585,000,000 since 2004 and is the only franchisee in Oklahoma with the Established Firm designation for consistent high volume. Notable sales include the 2009 sale of the SIA Apartment Portfolio for $44 million, the record 2008 sale of the Legacy Apartment Portfolio for $132 million (1352 units), First National Center, (960,000 square feet), Centennial Condos on the Canal, Block 42 Condos, and the Bricktown Retail Block (189,000 square feet). Leasing activity last year included major leases at the Riverwalk Crossing development in Tulsa.
About Sperry Van Ness
Founded in 1987, Sperry Van Ness is one of the largest and fastest-growing commercial real estate brokerage firms in the industry, with more than 990 advisors in over 150 locations. Sperry Van Ness delivers results for clients through a proven business model that immediately markets every one of its clients’ properties to the entire brokerage community, as well as its own investor data base. Based in Irvine, California, the firm operates internationally and provides brokerage, consultation, asset management, property management, leasing, accelerated marketing, and auction services. Sperry Van Ness represents clients in billions of dollars annually in office, multifamily, retail, industrial, self-storage, hospitality and land transactions.
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