MANUFACTURING FACILITY | OFFERING MEMORANDUM - 10321 W Reno Ave., Oklahoma City, OK 73127 - LoopNet
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MANUFACTURING FACILITY | OFFERING MEMORANDUM
10321 W Reno Ave., Oklahoma City, OK 73127
OFFERED
EXCLUSIVELY BY TABLE OF CONTENTS
executive summary 3
Asset Summary
brett price, ccim, sior property overview 5
Senior Vice President Property Details
bprice@newmarklsb.com
Property Photos
C: 405.613.8380
Aerials
O: 405.606.7153
Site Plan
Floor Plans
kris davis, sior market analysis 19
Senior Vice President Oklahoma City Market Overview
kgdavis@newmarklsb.com
C: 405.202.9525
O: 405.286.6153
10321 W Reno Ave., Oklahoma City, OK
executive summary
asset summary the offering
Price $9,800,000 Newmark Grubb Levy Strange Beffort is pleased to present the 280,000 square foot
office|manufacturing building situated on 85.5 acres. The building is located in the
Square Footage 280,000 SF± western submarket of Oklahoma City approximately 1 mile from the I-40 and Morgan
Rd. interchange, and less than 1 mile east of the Kilpatrick Turnpike.
Price/SF $35.00
Lot Size 85.5 Acres The property features a multitude of amenities including a commercial kitchen and
café, large break room, a workout facility, and portions of the office space were
Occupancy 0% renovated in 2015. It is situated in a park-like setting with a central courtyard and a
secured parking lot monitored by a guard station.
Year Built 1967, 1984 & 1992
The building is equipped with 6 UPS units, 4 ATS units, 5 backup generators and
Zoning I-2
OG&E substations.
4 | 10321 W Reno Ave., Oklahoma City, OK
property overview
property details
Property Type Office|Manufacturing Column Spacing 30’ x 60’
Total SF 280,000 SF ± Dock High Doors 11
Warehouse SF 117,000 SF ± Grade Level Doors 2
Vehicle Parking 1,185 spaces
A/C Office SF 163,000 SF ±
Spaces 12 handicap
Land Area 85.5 Acres Zoning I-2
Tilt-up Concrete &
Year Constructed 1967, 1984 & 1992 Construction Type
Metal
Clear Height 30’ Roof Modified Bitumen
Truck Court Fire Protection
150’ Wet
Depth System
Building
300’ x 575’ Warehouse Lighting Fluorescent
Dimensions
Bldg. 101: (2) 12.5kVA
Electrical Bldg. 102: 480V,
3-phase
PROPERTY FEATURES
Key Card Secured Park-like
Access Parking Setting
On-site On-site
Cox Fiber Café Workout Facility
6 | 10321 W Reno Ave., Oklahoma City, OK
photos 7 | 10321 W Reno Ave., Oklahoma City, OK
8 | 10321 W Reno Ave., Oklahoma City, OK
9 | 10321 W Reno Ave., Oklahoma City, OK
10 | 10321 W Reno Ave., Oklahoma City, OK
N
E Lake Overholser
N PI K
TUR
RI CK
PAT
KIL
NW 10TH ST.
N
MO
RG
AN
RD
.
W RENO AVE.
aerials
11 | 10321 W Reno Ave., Oklahoma City, OKW
KILPATRICK TURNPIKE
N SARA RD.
AV E .
NO
W RE
12 | 10321 W Reno Ave., Oklahoma City, OKS
. W RENO AVE.
RD
AN
RG
O
M
N
13 | 10321 W Reno Ave., Oklahoma City, OKE
Downtown OKC
N MORGAN RD.
W
RE
NO
AV
E.
14 | 10321 W Reno Ave., Oklahoma City, OKN N
.
VE
OA
EN
WR
W RENO AVE.
N N
W RENO AVE.
W
RE
NO
AV
E.
15 | 10321 W Reno Ave., Oklahoma City, OKsite plan 16 | 10321 W Reno Ave., Oklahoma City, OK
page 179
J H G F E D C B A
NORTH EAST EMPLOYEE ENTRANCE
SOUTH EAST EMPLOYEE ENTRANCE
11
E QUIPME NT RM.
STAIRWELL
1456 1026 1076 1077 1078 1079
1460 S1039
164 166
S105
1453 1025
100
1015
S110 S109 S107 CONF. RM.
1080
10
E1461 1043 1044 1046 1047
1024
CSO OFFICE 1081
S108 R.TUTTLE 217
E1464 1452 1023
S106
E1462 1048 1082
1013 1061 1049
S058 E1463 S1465 1451 1022
S104 S059 1000
S111 1010 1050
S062
9
1450 K ITCHEN 1021 174 1052
S103 1030 1031 S1085
S063 CSO CALL CENTER
R1005 CIR-102 CIR-106
CIR-108 R1006
Coffee Corner
S114 S102 1275 148
1446 1280 1282
S064 S065 1086
8
S060 S057 1274 1180
S101 S061 TRAINING ROOM
S112 1445 1169
1273
S100
ROOF IT DATA CENTER ENG. 189 1088
DRA IN
1272 1294
S066 1442 E1182 E1181 E1161 1089
7
S069
1271 R1186
S099 1150
S067 S068 1290 1292 R1184 J1187
S098 1300
S097 1270
S113 E1470 E1160 1151
141 R1186 R1091
J1471 1269
WHE EL CHAIR LIFT
1291 1293 R1188
J1472 R1189
6
2 HR RA TED WALL
2 HR RA TED WALL
1268 1152
E1473 1438
S070 CONF. R1092
R1474 S1190
*
ROOM
MEN
1437 1440
S071 1266
*
CSO CALL CENTER
EXIT " SIGN
179
"N OT AN
*
1436
S096 R1475
WOMEN
*
5
S093 S094 S095 1265
1435
C OLUMN
232
1476
22
S1477 1434 1200
1262 1095
IT HELP DESK
S052 S053 S054 S055 S056 1300 192
1479 1433 FITNESS
S083 S092 S091 CONF. 1096
CENTER
S089 ROOM
4
S090 1432 CURL
1097
TYPICAL STEEL
B ENCH
S056A 1140
S082 S081 COVERED COVERED
1261
COLUMN
BALLS
S084 1260 BALLS 236
1430
WEIGHTS
S049 PADS
& STEPS
S048
S088 IT SECURITY CIR-104 CIR-107 S1099
S045 S044 S1415
3
S080
S051 S050 1244
1250 5' 1135
1482 READY
P IZZA
1220
S086 S087 S040 1421 1132
S047B 1497 1242 1136
S085
S046 1243 211 1131 1137 E1100
1410
S042
2
S047A 1246 1110
S079 1420 1231 206
S073 1237 1130 1138
S077 1236
CIR-109 1111
S074 EL1235
S076 S075 S047 EL002 1240
1487 S1125 1112
CASHIER
1238 1122 1121 242
S078 124 123 WEST STAIRWAL
1120 1116 1115
1
E MERG ENCY
E XIT 205
G RAS S AREA
TO TRASH
COMPA CTOR
WEST
CON CRETE
RAI SE D PAD
STAGING TRASH BIN
B UIL DING
& EMERGENCY
A BANDONED DOOR
A ND WINDOWS
CO N CRE TE ARE A F O R COMPUTERRMFANS &
D ES IE L GE NE RATOR
RAI SE D PAD
GRASS AREA PAD FOR GRASS AREA DOCK WEST
ROOF
DRYWALL ED INSIDE 315 SF
F E D C
EMPLOYEE
B 1124 A
E XIT
J H G
LIFT
CURB HE IG HT PAD
ENTRANCE
S072
BUILDING 101 AND 102 FIRST FLOOR PLAN - ROOM NUMBERS
floor plan
17 | 10321 W Reno Ave., Oklahoma City, OKJ H G F E D C B A
S2025
11
11
2026 2028 2042 2043 2044
2341 2006 2041
2344 2347
2045
2005
2340 2023
S2338 2010
2029 2046
10
10
306 2004
HR
2348 2022 2047
FILE ROOM
2003 2024
2335 2030
2337 2016 451 2048
2040
2021
2350 2351 2002
2031
2334
9
9
L. SLENTZ
2001 2032
X3656
IT 2015 2020 S2049
2333
CIR-201 440
CIR-203
AIR RETURN
2330 2051
2331 E2130
IT
2352 2125
8
8
2220
2052
2329 2328 2353 2354
NOT AN
EXIT
2053
319 2355 2356 2216
2214 2230 2232 E2150 AIR RETURN
A2054
7
7
424 J2157
2234 R2155
2357 2358 2359 2212 2213
OPEN SPACE 2231 E2115
SHUT & LOCKED
2120
(ATRIUM) 2236 2056 2055 482 R2060
2326 2211 2233 R2156 2057
6
6
J2323
2360 2210 2209 2235 2058 2059 R2061
R2322 2238 S2159
MEN
328 2240 2244
2361 2208 2207 2239
398
R2321 2242 B151 2250 AIR RETURN
5
2362
5
2206
397 CIR-206 2064
S2320 2363
STANDING SEAM ROOF OVERHANG
2203 2204 2243 2245 2247 2249
2100 2110 2065
2318 2364 ENGR STOCK ROOM
355 2270 485
2202 2163
4
4
2066
EHS CIR-208
23
2316 374 375 376 377 378 2067
2311 CIR-204
391
2314 CIR-205 2068
2313 2201
CATWALK ACCESS
ABOVE CEILING
(NO MEZZ) 341 2087
AND EMERGENCY
EXIT FOR TRAINING 2184 AIR RETURN
AREA
2182
3
3
2312
EQPMT AREA
2187 2088
AIR RETURN
2310 2181 S2070
2086
2188
2306 379 2089
ROOF OF 2180 E2071
B OL T DOOR
S HUT
S2305 CAFETERIA 2189 2072
2
2
7 371
2179 2090
2300
2304 2178 2073
2302 348 382
EL2165
S CREEN
2301 2176 2074
2175 2174 2173 2172 2171 2170 2082 2081 2080 2077 2076 2075
2303
1
1
S2083
J H G F E D C B A
BUILDING 101 AND 102 SECOND FLOOR PLAN-ROOM NUMBERS
floor plan
18 | 10321 W Reno Ave., Oklahoma City, OKokc market report
okc market report
Oklahoma City continues to be a leader in the region with its diverse economy, skilled
workforce, and a cost of living that is 15.4% below the U.S. standard. The metro area is
home to several higher education nstitutions, major company headquarters and is the seat
of state government. Oklahoma City also has launched civic projects that have transformed
State Capital
of Oklahoma the city and downtown.
Despite economic ups and downs, and fluctuating oil prices, Oklahoma consistency has
posted low unemployment numbers. In Oklahoma City, low unemployment, record sales
tax collections and the MAPS projects have helped attract new companies and workers and
624 Chisholm Creek created new opportunities for residents. The ongoing success of the NBA’s Oklahoma City
sq mi
Source: Chisholm Creek
Thunder has been a boon to local coffers as tourists and locals flock downtown to see the
team play.
City of Oklahoma One of the main economic drivers over the past few decades has been the MAPS projects.
City Area Size The first taxpayer-funded projects included a sports arena, the Bricktown Canal, a library,
art museum, and other downtown projects.
Oklahoma City’s unemployment rate continued to drop throughout 2018. The city also
showed in its December sales tax report that General Fund collections were $31.1 million, a
17.7 percent increase over the same period last year. 2018 marked the second consecutive
year of positive job growth in the city, and job growth is expected to continue to increase in
Flix Brewhouse
Source: Flix
2019 by 2.1 percent.
System of Government
City Manager
OKC Developments
Elected Mayor & City Council
• Chisholm Creek | 190 acres The development in NW OKC includes Topgolf, Cabela’s, Uncle
Julio’s, and several other local and national eateries. It also boasts a Class A apartment
1.42
community, and land is still available for additional retailers and entertainment venues.
Just east of Chisholm is the metro’s first Costco, which opened in May 2019.
m • Flix Development | 55 acres Flix Brewhouse in under construction in a 55-acre
development that also will be home to Dolese’s 77,773 square-foot headquarters, with
First National Center
OKC Metro plans for additional retail, office, and multifamily developments.
Source: Cornerstone Development
Population
• First National Center | 1 Million Square-feet Developer Gary Brooks is renovating the 1931
art deco tower into a 146-room Autograph by Marriott hotel and 193 upscale apartments.
AAA
The Great Banking Hall and arcade space will house restaurants and bars, including
Ruth’s Chris Steak House.
• BancFirst Tower | 512,000 Square-feet BancFirst purchased the 36-story tower for
$21 million in September, 2018. Now dubbed BancFirst Tower, it will house the bank,
Top Credit Rating and additional tenants. The bank plans to do a major renovation and consolidate its
9 Years Running
operations around the city, increasing its downtown employee count to 450.
By Moody's BancFirst Tower
20 | 10321 W Reno Ave., Oklahoma City, OKeconomic drivers
Aviation and Aerospace Health Care Energy
INTEGRIS, SSM Health, Mercy, and Long known as an energy state, the OKC
Tinker Air Force Base Will Rogers World Airport
others employ 82,000 workers in the metro is home to several major oil and
• 24,000 employees • 30 nonstop destinations to 24 cities gas companies, and accounts for 3%
region with 36 general medicine and
• Payroll: $1.74 billion (some seasonal) surgical hospitals and specialty clinics. of metro employment and 10% of total
• Economic impact: More than $4 billion in 2018 • 72 average daily departures compensation.
Recent News Professional, Business, and Wholesale and Retail Trade
Financial Services At the intersection of major
In November 2018, the U.S. Air Force announced Tinker would coordinate maintenance and sustainment of the
More than 125,000 employees, or 18% interstates, OKC is a retail and trade
B-21 Raider — the next generation long-range strike bomber. The first of 14 maintenance hangers for Boeing’s of the local workforce, provide business center with total taxable retail sales in
KC-46 Pegasus is near completion. When all of the hangers are completed, it will lead to the creation of an and financial services nationwide. 2018 of $23.8 billion.
estimated 1,300 jobs.
Bioscience Manufacturing
More than 4 million passengers passed through Will Rogers World Airport in 2018. It is undergoing an Bioscience is booming in OKC and More than 38,000 people are employed
the sector employs 51,000 statewide in manufacturing in the OKC metro. It
$89.3 million expansion to bring the gate total from 17 to 21, estimated for completion in early 2021. The
providing goods, services, research, accounts for about 6% of the metro’s
new east concourse will feature consolidated security screening, a lobby and an observation mezzanine. and education. nonagricultural labor force.
athletics maps 3: driving development
The OKC Thunder is the biggest sports story in town, but other The $777 million series of municipal projects was approved by voters in 2009. Several projects completed and under
teams and events bring tens of thousands of visitors—and millions construction have revitalized downtown and spurred private investments. In December 2018, the OKC Streetcars began
of dollars in economic impact—to the local market. running in downtown Oklahoma City. In the first weeks of service, the streetcar welcomed more than 50,000 riders.
The MAPS Scissortail Park is under construction just south of the Central Business District. The 70-acre park will include
OKC Thunder NCAA College Women’s World Series
an upper and lower portion, connected by the Skydance Bridge over Interstate 40. Just to the east of the park, the $288
• Nine trips to the NBA playoffs • Attracts 70,000 visitors annually
• One trip to the NBA Finals • $15M economic impact million MAPS Convention Center is under construction. In response to the convention center, OMNI is building a 605-
• Average attendance: 18,203 • $27.5M improvements underway room, $241 million convention center hotel between the convention center and the Chesapeake Energy Arena.
OKC Energy FC Memorial Marathon
• USL Championship League • More than 24,000 runners annually
• Team plays at Taft Stadium • $10M economic impact
• Average attendance: 4,298 • 16,000 hotel room nights
OKC Dodgers
OKC Convention Center Scissortail Park OKC Streetcar
• AAA franchise for the L.A. Dodgers MLB team
$288M | Est. 2020 $132M $135M | Dec 2018
• Team plays at Chickasaw Bricktown Ballpark
• Average attendance: 6,471 Phase 1: 2019 | Phase 2: 2021
Sources: ESPN; Soccer Stadium Digest; MILB.com;
OKC Convention and Visitors Bureau
21 | 10321 W Reno Ave., Oklahoma City, OKdowntown development and looking ahead
MAPS 4
• Sales tax collections could begin as soon as
April 1, 2020 when the current MAPS streets
expansion expires.
• Overall OKC sales tax rate of 8.625% will not
increase if
MAPS 4 is approved.
• City Council and mayor accepting
recommendations for
MAPS 4 projects, and may decide by Labor Day.
• Citywide vote planned in December
West Village Apartments Oklahoma Contemporary Arts Center Heartland Headquarters • If approved by voters, expected to last 7-8 years
345 Units | Sept. 2019 50,000 SF | Est. 2020 110,000 SF | July 2020 and raise around $800M.
sales tax rate: 8.625%
City tax rate is 4.125%, the additional 4.5% goes to
state and county. The 1¢ Temporary Sales Tax is for
MAPS and other municipal projects.
4.125%
Oklahoma City Boulevard Boulevard Place Apartments Omni Hotel
$27M | Penn Ave. to Byers Ave. | 2019 241 Units | Est. 2021 605 Rooms | Est. 2021
Source: ODOT Source: Rose Rock Development Source: Omni Hotels & Resorts of OVERALL
city tax rATE
A study by the OKC Planning Department found that within a 3-block impact zone around the MAPS streetcar route, there has
been more than $1.6 billion value in public and private investment since 2011 alone. Even prior to that, Devon Energy began
work in 2009 on its $750 million headquarters downtown.
1¢ T
3/4¢
1 /8 ¢
21/4¢
e
The OKC Chamber reports private property values within the three-block impact zone have grown by 115 percent since the route
P ub
Zo o
mpo
Gen
was proposed in 2011. Because of its location along the streetcar route, Heartland chose Automobile Alley to build its 7-story,
lic S
eral
ra
110,000 square-foot headquarters. Tony Capucille, president of Heartland, cited the streetcar at the building’s front door, and
ry
afe t
the vibrant energy downtown as the reason for building and bringing 345 employees downtown.
fund
y
22 | 10321 W Reno Ave., Oklahoma City, OKindustry diversity enrollment 2018
School ‘17/’18 Type
Educational Services and Healthcare 21.2% University of Oklahoma - Norman
Retail Trade 11.9% 36,351 State | Four-Year
OU Health Sciences Center - OKC
Arts, Entertainment, Food Service 10.5%
Professional, Scientific, Waste Mgmt. 9.5% Oklahoma State University 27,743 State | Four-Year
Public Administration 8.2%
Construction 7.7% University of Central Oklahoma 18,864 State | Four-Year
Manufacturing 7.4%
Oklahoma City Community College 18,002 State | Two-Year
Finance, Insurance, Real Estate 6.1%
Other Services 5.3% Rose State College 10,295 State | Two-Year
Transportation and Warehousing 4.4%
Ag., Forestry, Fishing, Hunting, Mining 3.2% Oklahoma City University 3,301 Private | Four-Year
Wholesale Trade 2.6%
Information 2.0% Oklahoma Christian University 2,843 Private | Four-Year
Source: Bureau of Labor Statistics
Source: Oklahoma State Regents for Higher Education
cost of living index comparables UNEMPLOYMENT RATE 2018
MSA Median Income COLI OKC 3.1% OKLAHOMA 3.4% NATIONAL 3.9%
$80K OKC’s cost of living is 15.4% below 140% 4.5%
$70K the U.S. standard
120%
$60K 4.0%
100%
$50K
80%
$40K 3.5%
60%
$30K
40% 3.0%
$20K
$10K 20%
$0 0% 2.5%
OKC Indianapolis Fort Worth Denver Atlanta Chicago JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Source: C2ER Cost of Living Index; OKC Chamber
major employers
The largest employers in the OKC metro are the government and military, although the area has a diverse economy and is home to the head-quarters of several major companies.
HQ Employer Employees Sector Ticker Market Cap Years in OKC
• Hobby Lobby Stores, Inc. 5,100 Retail Private - 47
The Boeing Company 3,000 Aerospace BA $195.44 B 35
• Devon Energy Corp. 2,500 Oil & Gas DVN $10.76 B 48
• Paycom 2,500 Technology PAYC $12.61 B 21
• Sonic Corp. 2,460 Retail SONC $1.55 B 63
• Midfirst Bank 2,000 Finance Private - 65
• Chesapeake Energy Corp 1,800 Oil & Gas CHK $2.91 B 30
Dell 1,800 Business Services DELL $37.07 B 15
• Love's Travel Stops & Country Stores 1,800 Retail Private - 55
• Bancfirst 1,700 Finance BANF $1.87 B 53
Hertz 1,700 Rental Services HRI $1.12 B 55
• Enable Midstream 1,600 Oil & Gas ENBL $5.76 B 6
• American Fidelity 1,400 Finance Private - 59
Source: Greater OKC Chamber | Excludes Government, Military, Higher Education, and Healthcare
23 | 10321 W Reno Ave., Oklahoma City, OKCONFIDENTIALITY
&CONDITIONS
All materials and information received or derived from Newmark Grubb All financial data should be verified by the party including by obtaining
Levy Strange Beffort its directors, officers, agents, advisors, affiliates and reading applicable documents and reports and consulting
and/or any third party sources are provided without representation or appropriate independent professionals. Newmark Grubb Levy Strange
warranty as to completeness, veracity, or accuracy, condition of the Beffort makes no warranties and/or representations regarding
property, compliance or lack of compliance with applicable governmental the veracity, completeness, or relevance of any financial data or
requirements, developability or suitability, financial performance of the assumptions. Newmark Grubb Levy Strange Beffort does not serve as
property, projected financial performance of the property for any party’s a financial advisor to any party regarding any proposed transaction.
intended use or any and all other matters. All data and assumptions regarding financial performance, including
that used for financial modeling purposes, may differ from actual data
Neither Newmark Grubb Levy Strange Beffort its directors, officers, or performance. Any estimates of market rents and/or projected rents
agents, advisors, or affiliates makes any representation or warranty, that may be provided to a party do not necessarily mean that rents can
express or implied, as to accuracy or completeness of the any materials be established at or increased to that level. Parties must evaluate any
or information provided, derived, or received. Materials and information applicable contractual and governmental limitations as well as market
from any source, whether written or verbal, that may be furnished for conditions,vacancy factors and other issues in order to determine rents
review are not a substitute for a party’s active conduct of its own due from or for the property.
diligence to determine these and other matters of significance to such
party. Newmark Grubb Levy Strange Beffort will not investigate or verify Legal questions should be discussed by the party with an attorney.
any such matters or conduct due diligence for a party unless otherwise Tax questions should be discussed by the party with a certified public
agreed in writing. accountant or tax attorney. Title questions should be discussed by the
party with a title officer or attorney. Questions regarding the condition
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT of the property and whether the property complies with applicable
INVESTIGATION AND DUE DILIGENCE. governmental requirements should be discussed by the party with
appropriate engineers, architects, contractors, other consultants and
Any party contemplating or under contract or in escrow for a transaction governmental agencies. All properties and services are marketed by
is urged to verify all information and to conduct their own inspections and Newmark Grubb Levy Strange Beffort in compliance with all applicable
investigations including through appropriate third party independent fair housing and equal opportunity laws.
professionals selected by such party.brett price, ccim, sior kris davis, sior bprice@newmarklsb.com kgdavis@newmarklsb.com 204 N. Robinson, Ste 700 OKC, OK, 73102 for more information, visit us at C: 405.613.8380 C: 405.202.9525 110 W. 7th, Ste 2600 Tulsa, OK, 74119 newmarklsb.com
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