Tenmark Grows Oklahoma City Portfolio With Warehouse Deal in El Reno
admin / May 2022
Los Angeles Investor Closes on Select Energy Solutions Complex
A Los Angeles firm that owns more than a dozen industrial properties in the Oklahoma City market has added an El Reno warehouse to its growing portfolio.
Tenmark Holdings finalized a deal with Price Holdings to buy the 72,756-square-foot, two-building complex at 5102 Route 66. The deal came out to $10.25 million, or nearly $141 per square foot.
Since its completion in 2019, the complex has been fully leased to Select Energy Solutions, an oilfield services company out of Houston that provides water management and chemical solutions to the onshore oil and natural gas industry. The property is located just north of Interstate 40 and about 24 miles west of downtown Oklahoma City, and originally hit the market this past July with an asking price of $10.5 million.
Tenmark is an industrial real estate investor with more than 5 million square feet under management. That includes three buildings the company bought late last year from Baker Hughes for $43 million in one of the largest transactions of the fourth quarter in Oklahoma City.
Tenmark secured $6.355 million through Oklahoma Fidelity Bank for its acquisition of the El Reno warehouse, according to public record. The company now owns 13 properties in the market,
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