100% Leased to Strong Fortune 500 Tenants: SCP Distributors a Wholly Owned Subsidiary of POOLCORP (NASDAQ: POOL) & Anixter, Inc. (NYSE: AXE) – The subject property is 100% leased to two Fortune 500 tenants, SCP Distributors a wholly owned subsidiary of POOLCORP (NASDAQ: POOL) & Anixter (NYSE: AXE). The 33,000-square-foot concrete tilt-up building features 6,650 square feet of high-quality office area, ample parking, small outside storage area, and eight (8) loading doors.

Quality Concrete Tilt-Up Construction with 24′-27′ Ceiling Height – Build-to-Suit for SCP – Flexible Building Configuration – The property consists of a 33,000-square-foot concrete tilt-up office/warehouse distribution building with a 24’-27’ clear ceiling height. The subject property was built by Fleming Building Co. as a custom build-to-suit for South Central Pool supply (SCP) in 2003. The configuration of the property features a mix of office buildout and warehouse, offering an owner long-term flexibility for various operations and uses, and features easy loading access for deliveries, as well as storage space for inventory.  

Successful Long-Term Operating Histories – Annual Rent Increases  – SCP has operated successfully at this location for over 15 years, extending their lease twice for an additional ten years. Anixter has operated at this location since February 2004 and has renewed their lease for two (2) additional five-year terms, reflecting their commitment to the location. Both leases feature annual rent increases of 2.5%, providing an investor with solid rent growth.

Located a Few Blocks from On/Off Ramp to SR-51/US-64 & 1 Mile to US-169 – Quick Access to Downtown Tulsa, Tulsa International Airport  – The subject property is centrally located between the on/off ramps at East 51st St S & S 129th Ave, just a couple of blocks from SR-51, offering quick access to downtown Tulsa (11 miles northwest) and Tulsa International Airport (10 miles north), the global maintenance headquarters for American Airlines.

Located in Tulsa: 2nd Largest City in Oklahoma – Emerging Economy – Headquarters of Oil & Energy Companies – Logistics Hub  – The subject property is located within Tulsa, the second-largest city in the state of Oklahoma and 45th-most populous city in the United States. As of July 2016, the population was 413,505. It is the principal municipality of the Tulsa Metropolitan Area, a region with 991,005 residents in the MSA and 1,251,172 in the CSA. The city serves as the county seat of Tulsa County, the most densely populated county in Oklahoma, with urban development extending into Osage, Rogers, and Wagoner counties.

Historically, a robust energy sector fueled Tulsa’s economy, and is home to the headquarters of many international oil and gas-related companies, including Williams Companies, SemGroup, ONE Gas, Syntroleum, ONEOK, Laredo Petroleum, Samson Resources, Helmerich & Payne, Magellan Midstream Partners, WPX Energy, and Excel Energy. In recent decades, Tulsa has diversified to capitalize on its status as a regional hub and has seen new growth in emerging industries finance, aviation, technology, and media.

Tulsa’s location in the center of the nation also makes it a hub for logistics businesses; the Tulsa International Airport (TUL) and the Tulsa Port of Catoosa, connect the region with international trade and transportation.

Tulsa: City on the Rise – New Developments – Growing Tourism Destination – Site of New Amazon Fulfillment Center  – Like many metros in the U.S., Tulsa’s downtown has enjoyed revitalization, thanks to an estimated $1 billion in investment over the last eight years. Currently, 54 development projects are underway or planned, including hotels, apartments, offices, and stores and restaurants in new and rehabbed buildings. 

Tourism is a growing industry in Tulsa. According to a Oxford Economics report, tourism revenue hit a record high in 2017, with nearly 21 million visitors generating $8.9 billion in travel spending in 2017. The figures include spending from both in-state and out-of-state travelers, and reflect an increase of almost 10 percent since 2013.

Amazon is constructing a 640,000-square-foot fulfillment center on an 82-acre property near Tulsa International Airport. The company will invest an estimated $130 million for this state-of-the-art facility, which will employ around 1,500 people with an annual payroll of roughly $50 million. The facility is expected to open in late 2019.

Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977