Upgraded Midwest City RV park attracts California investors
MIDWEST CITY — A 1970s mobile home park turned RV park marketed as “more than a haven for the personnel of nearby Boeing, Tinker Air Force Base, and pipeline industries,” has sold to West Coast investors.
Edgewood RV Park OKC LLC, of Orange County, California, paid $3.2 million for Edgewood RV Park, 8801 SE 29, in a transaction by Keith Wilson Co. The seller was WAIP LLC, with Nicholas Preftakes as manager, in Oklahoma City.
The seller spent $1,332,000 the past several years upgrading the 169-unit park, which is on 15.3 acres across Interstate 40 from Tinker, said broker Keith Wilson. Most tenants are monthly and employed by Boeing, at Tinker, or in oil-related businesses, he said.
The park, 95% occupied, has a 2,000-square-foot clubhouse/office, a new community swimming pool with a deck, asphalt streets and municipal water and sewer.
The upgrades “positioned it as one of the better RV parks in the OKC area with modern homes and clean pads,” Wilson said.
“The California investors saw this as an opportunity to acquire a sizeable, well-occupied, clean, quality park in a major metro area. Just another example of the capital flows out of the high-price, (low-return)rate environment in California,” he said.
NAI Sullivan Group reports these real estate transactions:
• MPCS Properties LLC paid $3 million to T&W Tire LLC for a 61,000-square-foot industrial building on 3 acres at 3223 N Lincoln Blvd. Irmon Gray with NAI Sullivan Group provided brokerage services.
• 6200 N Harrison Street LLC paid $1.9 million to TDK Ferrties Corp. for a 77,671-square-foot industrial property on 20 acres at 6200 N Harrison. Zac McQueen and Amir Shams with NAI Sullivan Group provided brokerage services.
• Paradise Homes Development LLC paid $1.2 million to C&C Alloys Properties for a 104,000-squarefoot industrial building at 306 W Juneau in Purcell. Gray and Darryl Meason with NAI Sullivan Group handled the transaction. Closing was by Lyndsey Gibson at Oklahoma City Abstract & Title Co.
• Charles Doll, trustee of The Cole & Reese Boyette 2019 Trust, paid $1.1 million to South Prairie Land and Cattle Co. LLC for a 10,590-square-foot office building at 123-129 E Main St. Amanda Sullivan and Bob Sullivan with NAI Sullivan Group provided brokerage services. Closing was by Oklahoma City Abstract & Title Co.
• Peak Fitness leased a 16,000-square-foot fitness center at 4721 SE 15 in Del City from LS II Land Co. LLC. David Hartnack, Sam Swanson and Nathan Wilson with NAI Sullivan Group provided brokerage services.
• BioLife Plasma Services has 12.900 square feet of space at 4701 SE 15 in Del City from LS II Land Co. LLC. Hartnack, Swanson and Wilson provided brokerage services.