OKC Flex Warehouse

Located in the fast-growing Oklahoma City market, this 8,750 square foot flex-warehouse consists of 1600 square feet of office and 7150 square feet of warehouse space. Additionally, it’s located on 1.5 acres of land with significant covered and uncovered outdoor storage. Like many of Jonathan’s properties, this one was purchased occupied with a quality tenant and an expiring lease. With a lease rate 40% below market value, Jonathan recognized an excellent value-add opportunity, and made an aggressive cash offer, which was accepted after a previous buyer backed out.

Soon after getting under contract, the tenant confirmed they wanted to stay in the building, and Jonathan negotiated a healthy lease extension soon after closing on the property. Considering the limited supply and excellent demographics of Oklahoma City, Jonathan intends to keep this property in his portfolio long-term.