metro
05-04-2005, 07:41 PM
Its been awhile since anyone posted any new news in here so I took the liberty.
Prime commercial Deep Deuce property being auctioned
Posted: Wednesday, May 04, 2005
by Shelly Hickman & Pamela Grady
The Commissioners of the Land Office are offering a Deep Deuce office building previously occupied by CompSource Oklahoma for sale in a public auction.
The commissioners have announced the auction for 410 N. Walnut will be held May 12 at 1:30 p.m. and have set the minimum bid at $1.2 million.
The auction could be significant as there are other commercial real estate opportunities in the area and the sales price of 410 N. Walnut could set the tone for Deep Deuce's commercial real estate comps. as the area is further redeveloped.
While the commissioners' real estate management director, Keith Kuhlman declined to reveal any names, he today told OKCBusiness: "We think we have some pretty good information that there's going to be at least two potential bidders on the property and there will probably be a third."
The building's proximity to the relatively new Deep Deuce residential development and the coming redevelopment of The Hill, which is a mere three blocks away from the building at 2nd and Stiles Avenue, is what is fueling interest in it, he said.
In addition to the sales price, the commissioners also will require the buyer of 410 N. Walnut to pay an additional $5,000 to cover the agency's appraisal and advertising costs.
The auction will take place at 5801 N. Broadway Extension in the Paragon Building, Suite 200.
Since 1953, the building has been home to CompSource Oklahoma, but the company recently moved to a newly constructed building at 1901 N. Walnut.
Kuhlman indicated the nearly 36,000 square foot building to be auctioned - which sits on about 2.2 acres and is zoned C-4 - was built in 1938 as a school. It was expanded in 1956 and has since undergone several remodels, he said.
For more information on the property or the terms of the auction, call 604-8100 or visit either www.clo.state.ok.us or 410sale@compsourceok.com.
Prime commercial Deep Deuce property being auctioned
Posted: Wednesday, May 04, 2005
by Shelly Hickman & Pamela Grady
The Commissioners of the Land Office are offering a Deep Deuce office building previously occupied by CompSource Oklahoma for sale in a public auction.
The commissioners have announced the auction for 410 N. Walnut will be held May 12 at 1:30 p.m. and have set the minimum bid at $1.2 million.
The auction could be significant as there are other commercial real estate opportunities in the area and the sales price of 410 N. Walnut could set the tone for Deep Deuce's commercial real estate comps. as the area is further redeveloped.
While the commissioners' real estate management director, Keith Kuhlman declined to reveal any names, he today told OKCBusiness: "We think we have some pretty good information that there's going to be at least two potential bidders on the property and there will probably be a third."
The building's proximity to the relatively new Deep Deuce residential development and the coming redevelopment of The Hill, which is a mere three blocks away from the building at 2nd and Stiles Avenue, is what is fueling interest in it, he said.
In addition to the sales price, the commissioners also will require the buyer of 410 N. Walnut to pay an additional $5,000 to cover the agency's appraisal and advertising costs.
The auction will take place at 5801 N. Broadway Extension in the Paragon Building, Suite 200.
Since 1953, the building has been home to CompSource Oklahoma, but the company recently moved to a newly constructed building at 1901 N. Walnut.
Kuhlman indicated the nearly 36,000 square foot building to be auctioned - which sits on about 2.2 acres and is zoned C-4 - was built in 1938 as a school. It was expanded in 1956 and has since undergone several remodels, he said.
For more information on the property or the terms of the auction, call 604-8100 or visit either www.clo.state.ok.us or 410sale@compsourceok.com.