MIDTOWN PORTFOLIO Oklahoma City, OK 73103 Oklahoma City, OK 73103
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MIDTOWN PORTFOLIO Oklahoma City, OK 73103 Oklahoma City, OK 73103 MIDTOWN PORTFOLIO C. DEREK JAMES CORDELL C. BROWN, CCIM, CIPS C. DEREK JAMES CORDELL C. BROWN, CCIM, CIPS Broker, Associate Office Specialist 405.843.7474Broker, Associate 405.239.1222Office Specialist [email protected] [email protected] [email protected] [email protected] 11TH & ROBINSON PORTFOLIO 1. PROPERTY INFORMATION 3 1. PROPERTYMidtown INFORMATION Portfolio Sale Highlights 3 4 Stryker Building Executive Summary 5 SaleFirst Highlights Church of Christ, Scientist Executive Summary 4 6 StrykSurfaceer Building Parking Lot Executive Summary 5 7 2. FirstLOCATION Christian INFORMATION Church, Scientist 6 8 Executive Summary 7 Midtown District, Oklahoma City 9 2. LOCATIONFixed Rail INFORMATION Street Car 8 10 Midtown, Oklahoma City 9 3. SALES COMPARABLES 11 Additional Photos 10 3. FINANCIALStryker Building ANALYSIS and First Church of Christ, Scientist 11 12 Parking Lot/Land 13 Rent Roll 12 4. FLOOR PLANS 14 Complete Highlights 13 4. SALEStryker COMPARABLES Building 1515-19 5. SaleADDITIONAL Comps Summary PHOTOS 16 20 Sale Comps Summary 17 Stryker Building 21-22 5. ADDITIONALFirst Church INFORMA of Christ,TION Scientist 1823-24 6. FloorDEMOGRAPHICS Plans 19 25 6. PROPERTY INFORMATION 24 Demographic Report 26 AdditionalDemographic Photos Map 27 27 7. DEMOGRAPHICS 29 7. ADVISOR BIOS 28 Demographics Report 30 C. Derek James 29 DemographicsCordell Brown Map 31 30 8. ADVISOR BIOS 32 Advisor Bio & Contact 1 33 Advisor Bio & Contact 2 34 This Offering Memorandum was prepared by Price Edwards & Company (“Broker”) on behalf of Owner, and is confidential and furnished to prospective purchasers of the property described herein subject to the terms of the Confidentiality Agreement previously provided to and executed by such prospective purchasers. This Offering Memorandum is intended solelyto assist prospective purchasers in their evaluation of the property and their consideration of whether to purchase the property. It is not to be used for any other purpose or made available to any other person without the prior written consent of Price Edwards & Company. This Offering Memorandum is subject to errors, omissions, changes or withdrawal without notice and does not constitute a recommendation or endorsement as to the value of the property by Owner/Broker and their sources. Financial projections are provided as a reference and are based on assumptions made by Owner/Broker and their sources. Prospective purchasers should make their own projections and reach their own conclusions of value. Certain portions of this Offering Memorandum merely summarize or outline property information and are in no way intended to be complete nor necessarily accurate descriptions. This Offering Memorandum was prepared on the basis of information available to the Owner and Broker in connection with the sale of the property. It contains pertinent information about the property and the surrounding area but does not contain all the information necessary for a complete evaluation of the property. Although the information contained in this Offering Memorandum is believed to be accurate and reliable, neither the Owner nor its Broker guarantees its accuracy or completeness. Because of the foregoing and because the property will be sold on an “as-is” basis, prospective purchasers should make their own independent assessments, investigations, and projections regarding the property. Although additional material, which may include engineering, environmental, or other reports, may be provided to certain prospective purchasers as appropriate, such parties should confer with their own engineering and environmental experts, counsel, accountants, and other advisors and should not rely upon such material provided by Owner or Broker. Neither Owner nor Broker not any of their respective officers, advisors, agents, shareholders or principals has made or will make any representation or warranties, express or implied, astotheaccuracyor completeness of the Offering Memorandum or any of the contents, and no legal commitment or obligation shall arise by reason of the Offering Memorandum or the contents. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser. The Owner expressly reserves the right,initssole discretion, to reject any offer to purchase the property or to terminate any negotiations with any party at any tie, with or without notice. The Owner shall have no legal commitment or obligation to any prospective purchaser unless and until a written purchase and sale agreement has been fully executed and delivered and any and all conditions to the Owner’s obligations thereunder have been fully satisfied or waived. The Owner is responsible for any commission due to Broker in connection with the sale of the property. The Owner shall not be responsible foranycommission claimed by any other agent or Broker in connection with a sale of the property. No other party, including the Owner’s Broker, is authorized to make any representation or agreement on behalf of the Owner. This Memorandum remains the property of the Owner and its Broker and may be used only by parties approved by the Owner and its Broker. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as provided herein and as permitted by the express terms of the Confidentiality Agreement. C. DEREK JAMES CORDELL C. BROWN, CCIM, CIPS Broker, Associate Office Specialist 405.843.7474 405.239.1222 [email protected] [email protected] 2 SECTION 1 PROPERTY INFORMATION MIDTOWN PORTFOLIO Sale Highlights SALE HIGHLIGHTS • The Midtown portfolio consists of the building formerly known as the Lawyers Title building, now named the Stryker Building for its largest tenant. This building is located at 1141 N Robinson. The First Church of Christ, Scientist, located at 1200 N. Robinson, is "shell" with 22 parking spaces on the north side. The surface parking lot is directly east of the Stryker Building and directly south of the Church on the southeast corner of 11th and Robinson . These properties account for 3/4 of the hard corners at 11th & Robinson with the First Baptist Church occupying the northwest corner. • These properties may be bid as follows: A bid for the Stryker Building and the parking lot as a unit, the Church as a unit or, all three properties as a collective bid. The parking lot shall not be bid as a separate unit, but combined with the Stryker building in a purchase price. • The Listing Brokers shall provide pre- scheduled tours of the buildings during normal business hours. • The Purchase Contract along with Leases, environmental studies, Title Work and other germane documents shall be available in a digital vault, accessible with a signed Confidentiality Agreement. C. DEREK JAMES CORDELL C. BROWN, CCIM, CIPS Broker, Associate Office Specialist 405.239.1206 405.239.1222 [email protected] [email protected] 4 MIDTOWN PORTFOLIO Stryker Building Executive Summary OFFERING SUMMARY PROPERTY OVERVIEW The Stryker Building, formerly known as the Lawyers Title Building is a 4 story low-rise in the Midtown sub-market of Oklahoma City. Stunning, original art-deco Sale Price: Accepting Offers finishes remain in the common areas while most offices are converted toadrop ceiling with more traditional commercial finishes. Parking is available to the east and south, on-street. Parking Spaces: 16 PROPERTY HIGHLIGHTS Lot Size: 0.55 Acres • Art Deco styling, painted plaster relief ceiling, marble flooring in entry lobby, aluminum accent moulding, raised aluminum design window treatments • Poured, reinforced concrete floors with steel and concrete support columns Year Built: 1930 • Exterior sheathing of Bedford Limestone • Roof is built-up seamed hot tar and gravel Building Size: 52,450 • Interior doors are full panel glass or solid hardwood • Floor coverings are marble in the main lobby, marble off the elevators on floors 2 and 3, and commercial grade carpets in the common halls Available SF 10,661 office • Interior walls are either floated plaster or gypsum board • Ceilings are floated plaster or 2X4 drop-in ceiling tiles Zoning: DTD-1 • This is a non-sprinklered building • Limited on-site parking is available with six (6) parallel spaces available on the north, four (4) on the west side and another six (6) to the south. The lot across the street to the east is part of this Submarket: CBD / Midtown Package and contains fifty (50) spaces MOL and is shared with the 1200 N. Robinson Property. C. DEREK JAMES CORDELL C. BROWN, CCIM, CIPS Broker, Associate Office Specialist 405.239.1206 405.239.1222 [email protected] [email protected] 5 MIDTOWN PORTFOLIO First Church of Christ, Scientist Executive Summary OFFERING SUMMARY PROPERTY OVERVIEW The First Church of Christ Scientist Building is neoclassical in design and structured as a cross-shaped plan, with a dome placed in the center. It is 3 storys in height, of Sale Price: Accepting Offers brick construction and limestone veneer. The design includes a simple Greek Orthodox style, with fluted columns, broad cornice mouldings and ornamental objects on the roofline. The Building is listed in the National Registry of Historic Parking Spaces: 22 Places under the criteria of architectural significance. Lot Size: .4821 Acres PROPERTY HIGHLIGHTS • Shell building, with no mechanical, electrical, or plumbing currently functioning. Year Built: 1930 • The west foyer features a solid wood wainscot paneling and the floor is the original white ceramic tile with dark and light gray inserts, intertwined with a swastika religious design. Building Size: 20,780 • Limited on-site parking with 22 spaces MOL, however; the lot to the south affords a shared fifty (51 ) spaces mol, if the Church is purchased with the Stryker Building and the parking lot. Available SF 20,780 SF • Entry doors and 1st floor window sills are copper-clad. Zoning: DTD-1 • Original stained glass is present in some of the windows. • The octogonal shaped dome is a skylight, featuring stained glass encircled by concentric rings above a large meeting area .