Property Description
HMX Realty Advisors exclusively presents for sale the redeveloped Del Crest Center located in Oklahoma City. The property is anchored by BioLife, an investment grade tenant, which just invested $3,000,000 improving their space including replacing a new roof and HVAC (new as of 2020) with a laboratory grade roof and laboratory grade HVAC over their space. Other tenants included in the sale are Harbor Freight, Family Dollar, Peak Fitness and Metro by T-Mobile. There is a population of 137,300 within 5 miles with an average household income of $60,013. The population is expected to increase to 142,736 by 2026.
The property offers the investor a fully redeveloped, stabilized asset with proven tenants and many long-term leases. The property has outstanding highway access and visibility. The highway, with 86,800 vehicles per day, just completed an expansion from four to six lanes and new on and off ramps were built directly adjacent to the property which has two stoplights and four points of access. It is the first shopping center you pass on your way to a Walmart Supercenter and Home Depot. The entrance to the Walmart Supercenter is 500 feet from the property. The entrance to Home Depot is ⅓ of a mile away. Other tenants making up this retail node are Hobby Lobby, Burlington Coat Factory, Regal Warren Cinema and a Academy Sports + Outdoors, which was the number one performing Academy during covid.
The eastern portion of the center was demolished in 2015 and subdivided to facilitate the development of the Integris Community Hospital Del City which has an emergency room and inpatient care. Family Dollar had been in that part of the property for many years and insisted that the owner build them a new building which was completed in 2015. That new building includes BioLife, Metro PCS and Family Dollar. The Harbor Freight and Peak Fitness portion of the center was torn down to the floor and walls and rebuilt in 2015. A new roof and all new HVAC was installed over the entire property in 2020. The roof decking was replaced in 2015.
