Wheeler Real Estate Investment Trust announced it has acquired an 81,000-square-foot freestanding retail property in Jenks, Okla., for approximately $11.4 million, or $140.74 per square foot. The property, Jenks Reasor’s, was acquired through a sale-leaseback purchase contract with Reasor’s Foods.
Jenks Reasor’s, built in 2011, is located in one of the fastest growing communities in Oklahoma, located just 30 miles from Tulsa. The property is leased by employee-owned regional grocery chain Reasor’s Foods, one of the largest grocers in Oklahoma with 17 locations throughout the state. The property is secured by a 20-year, single-net lease that will expire in 2033 with four five-year renewal options.
This purchase brings Wheeler’s property count to 15 in seven states across the Mid-Atlantic, Southeast, and Midwest. A company engaged in owning, acquiring, financing, developing, renovating, leasing, and managing income-producing assets, such as community centers, neighborhood centers, strip centers, and freestanding retail properties, Wheeler believes the acquisition of Jenks Reasor’s fits with its strategy of acquiring retail-focused properties with stable tenants in a community-driven, tertiary market. This acquisition expands Wheeler’s presence in the growing Tulsa market and, the company believes, will help provide a strong return on investment.
For more information, visit www.whlr.us
About MissionIR
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website
http://www.missionir.com/disclaimer.html
