Oklahoma real estate notes, Nov. 16

Oklahoma real estate notes for Nov. 16, 2013.
Modified: November 15, 2013 at 7:58 pm •  Published: November 16, 2013
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New expo building planned

The Oklahoma City Council has approved the preliminary report for a new 290,000-square-foot expo building that will offer, among other amenities, 200,000 square feet of contiguous floor space at State Fair Park as a part of MAPS 3. Once complete, the building will be the largest event space in Oklahoma City. The MAPS 3 budget for the building is $54 million. An additional $4.7 million will be spent for new parking lots and other site improvements.

Construction will begin immediately after the 2014 fair and is expected to take 1 1/2 years. It will be built where the Travel and Transportation Building, Carriage Hall and courtyard are now. The building will feature a 15,000-square-foot lobby, concession areas, ticket space, commercial kitchen and parking for more than 2,000. A combination of glass and translucent wall panels will create an open, light-filled entrance.

Calif. firm buys OK apartments

S&F Sterling OKC, LLC of West Hollywood, Calif., has bought 186-unit Chandelaque Apartments, 5528 N Portland, for $7,936,496 — $42,669 per unit — in a deal handled by Commercial Realty Resources Co. in Norman. The seller was OKC Portfolio LLC, led by Michael Allen of Los Altos, Calif., who acquired the property for $6.6 million in April 2007.

Chandelaque, built in 1974, has 162,400 square feet in 19 two-story buildings. A separate one-story building houses a fitness center overlooking a small lake. Chandelaque was 95 percent occupied at the time of the sale.

Website offers realty training

Anne M. Woody has formed BAAHS.com LLC, an online real estate school, an affiliate of Boulder, Colo.-based Van Education Center, which offers real estate education to real estate license applicants and licensees, appraisers and mortgage brokers. Woody recently retired as executive director of the Oklahoma Real Estate Commission, where she worked for 39 years.

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