TriGate Capital Sells 272,135-SF Retail Center in Edmond, Oklahoma

TriGate Capital has sold Bryant Square, a 272,135-square-foot retail shopping center located in Edmond, Oklahoma, part of the Oklahoma City metropolitan area.

Barry Brown, Chris Gerard, Erin Lazarus, Keenan Ryan and Ben Pollack with JLL arranged the transaction on behalf of the seller, TriGate Capital.  Phillip Mazaheri with Price Edwards & Company represented the buyer, Mazaheri Properties.

"Bryant Square offered investors a high-quality retail asset in one of Oklahoma City's fastest-growing submarkets," said Gerard. "With its strategic location in affluent Edmond and potential for increased income, this transaction demonstrates continued investor appetite for well-positioned retail properties in high-growth suburban markets."

“TriGate Capital is extremely pleased to realize the value created during its almost seven years of ownership,” said Paul Sharp, Managing Director with TriGate Capital.  Capitalizing on an attractive investment basis, during its ownership TriGate Capital completed a major renovation in 2018, replaced and upgraded several anchor, junior anchor, and in-line tenants throughout its ownership thereby stabilizing the property at 96% occupancy.  This transformation led to an attractive investment opportunity of a well located, best-in-class shopping center boasting an average tenant tenure of approximately 9 years and a weighted average lease term over 4.5 years.