Transactions - JULY 29, 2022

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One of top retail destinations in Oklahoma sells

by Released

DRA Advisors and RCG Ventures have sold 40 Penn Park, 241,831-square-foot Oklahoma City regional retail center with multi-anchor drawing power that is one of the top retail destinations in Oklahoma.

Mazaheri Properties acquired the asset for an undisclosed sales price.

Completed in 2006, the 99.3-percent-occupied 240 Penn Park is home to a mix of high-performing anchor tenants, including Marshalls, Ross Dress for Less, Michaels, PetSmart, Best Buy and Mardel. Popular tenants such as Saltgrass, Lane Bryant, Five Below, Charleston’s Restaurant and GNC help round out the tenancy and drive additional traffic to the property,

Situated on 22.21 acres at 1401 SW 74th St., 240 Penn Park is in a dominant retail-trade corridor with excellent visibility due to its location along the Southwest Expressway (Interstate 240). The center is positioned eight miles from downtown Oklahoma, which has experienced 29 percent population growth since 2000 and added 101,000 new resid

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