Oklahoma investors buy top-ranked Norman shopping center in $82 million deal
admin / May 2026
Rainier Cos. sells nearly 417,000-square-foot power center shadow-anchored by Super Target
A group of Oklahoma-based investors has purchased University Town Center, a 416,766-square-foot retail power center in Norman, for $82.3 million.
The buyer partnership, led by Mazaheri Properties and Champion Hotels, acquired the property from Dallas-based Rainier Cos.
Built in 2009, University Town Center sits on nearly 53 acres at West Robinson Street and Interstate 35. The center features more than a dozen national retailers, including Academy Sports, Kohl’s, Ulta Beauty, TJ Maxx, HomeGoods, Michaels, DSW, Petco and Office Depot. The property, which is 99% occupied, is shadow anchored by the highest-grossing Super Target in Oklahoma and by Crest Foods.
Mazaheri Properties, headquartered in Oklahoma City, has focused on retail acquisitions and development in Oklahoma and Texas for nearly four decades. The firm reported the acquisitions of more than 1.2 million square feet of retail properties valued at over $257 million in the past three years.
Rainier, founded in 2003, invests in a range of asset classes nationally, often targeting retail and mixed-use projects in growth markets.
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