CBRE Arranges Sale of 622,814-SF Industrial Building for $12.7M in Tulsa, Okla.

26 Jan 2022

Port City Metals Services

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Derek Paumen

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CBRE arranged the sale of Port City Metals Services, a 622,814-square-foot industrial building located at 3101 W. Charles Page Blvd. in Tulsa, Okla. Radix Equity LLC purchased the property from 1315, LLC for $12.7 million.

CBRE’s Dwayne Flynn and Ryan Shaffer represented the Seller in the transaction.

“Our client partnered with CBRE to market Port City Metal Services and to help achieve all of their real estate goals,” said CBRE’s Flynn. “Our team went to work, first by completing a full offering memorandum for the property and then using our local market knowledge to help secure a well-qualified buyer.”

Built in 1950, Port City Metal Services is located west of downtown Tulsa, providing immediate access to Highway 412 and is proximate to several manufacturing and warehousing operations. The building is 100 percent occupied and features 32,838-square-feet of office space, 25 bays, 35-foot clear-height and a 70-plus space parking lot on a 50-acre site.

According to CBRE’s Tulsa Industrial MarketView H1 2021, Tulsa has the lowest vacancy rate seen in recent years as a result of the growing demand for industrial space. Currently there is less than 3 million square feet of available industrial space in the city.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.