One of Oklahoma City’s Biggest Industrial Leases of the Second Quarter
admin / October 2023
National Food service Equipment Distributor Stafford-Smith Fills Half of Newly Constructed Industrial Facility
Stafford-Smith, Inc., a national distributor and installer of commercial food service equipment headquartered in Kalamazoo, Michigan, is expanding its operations in Oklahoma City.
The firm agreed to occupy about half of Investment & Development Ventures’ OKC SW 13th project, a new, cross-dock industrial facility located in the southwest submarket of Oklahoma City. The lease for 119,720 square feet at 5601 SW 13th St. was one of the largest industrial leases signed in the market during the second quarter.
Stafford-Smith is slated to commence operations at the facility in the first quarter of 2024. The firm operates out of 19 locations around the U.S. and supplies independent restaurants, chains, casinos, business, industry and education clients, providing kitchen design, installation, equipment and logistics.
IDV, a privately held real estate investment, development, and management company based in Houston, completed the new warehouse in August 2023 as part of a joint venture with Sealy & Co., an industrial real estate investment and operating company with corporate offices in Dallas and Shreveport, Louisiana.
The 239,453-square-foot building is located near I-40 just off of South MacArthur Blvd. and features 49 external docks, four drive-in bays, and a 32-foot clear ceiling height.
IDV and Sealy announced their joint venture partnership in 2021 and have developed several projects together.
“This partnership marries Sealy’s financial capacity and expertise with IDV’s focus on opportunistic acquisitions of land and development and will result in delivering valuable investments in the marketplace,” Sealy & Company’s Chief Investment Officer Scott P. Sealy, Jr., said at the time.
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