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FOR SALE
INVESTMENT OPPORTUNITY1856 N 106TH E AVETULSA, OKLAHOMA
74116
www.cbre.us/tulsa
PROPERTY FEATURES
+ 14,618± SF Total *
+ 0.57± Acres*
+ Investment Opportunity
+ Moderate Industrial Zoning
+ 1200 AMP, 480 Volt, 3 Phase Power
+ 20’ Hook Height
+ (2) 10 Ton Cranes
+ Operating Business - Do Not Disturb Tenant
*Source: County Assessor
SITE
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THE SUMMARY
THE OFFERING
CBRE is pleased to present this potential Sale-Leaseback
opportunity for consideration. The current occupier is Res-onant
Machines, Inc (RMI) which have occupied the building since 2007.
Upon the sale of the building, RMI is prepared to sign a 10 year,
triple net lease, allowing an investor to realize monthly cash
flow.
PROPERTY OVERVIEW
This 14,618± square foot single tenant property is situated on
0.57± acres. The property fits RMI’s operation well and features
1200amp/480 volt/3 Phase power and two crane bays, each with 10-ton
capacity and 20’+ hook height. Additionally, the shop area has
clear heights of over 26’ and up to 30’ in the center. A portion of
the property is fully fenced, allowing secure storage with employee
parking in the front.
FOR SALEINVESTMENT OPPORTUNITY
NOI
Year 1 73,464.00
Year 2 74,565.96
Year 3 75,684.48
Year 4 76,819.68
Year 5 77,972.04
Year 6 79,141.56
Year 7 80,328.72
Year 8 81,533.64
Year 9 82,756.68
Year 10 83,997.96
LOCATION OVERVIEW
Located in the well-established Wolf Point Industrial Park, the
property is located close to the Tulsa International Airport, in
the northeast Tulsa submarket. Neighboring occupiers include PODS,
Mathey Dearman, Iron Mountain, Grainger and host of other regional
and national brands. Wolf Point has a wide array of warehousing and
manu-facturing users in the area and has enjoyed high occupancy and
is well suited for many users due to its proximity to the Tulsa
International Airport, Highway 169, Interstate 244 and Interstate
44.
SALE PRICE
ESTIMATED NOI
$850,000
$73,464
8.6% CAP
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1856 N 106TH E AVETULSA, OKLAHOMA 74116
PROPERTY LOCATION
N 1
06th
E A
ve
N 1
05th
E A
ve
E Pine St
SITE
Min
go
Valle
y Ex
pre
ssw
ay
E Ute St
E Seminole St
WOLF POINT INDUSTRIAL PARK
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FOR SALEINVESTMENT OPPORTUNITY
Resonant Machines is a provider of concrete rubblizing and
concrete breaking services and equipment. RMI’s industry leading
“resonating beam” technology breaks concrete into uniform particle
sizes down to 6 inches and de-bonds rebar and wire mesh for better
removal. RMI’s resonant rubblizing process provides many benefits
versus other methods of road rehabilitation such as crack and seat
or remove and replace of a concrete surface including:
• Based on RMI’s over 28 years of experience, contractors have
found rubblizing a concrete surface is 60% less expensive than
removing and replacing concrete.
• Rubblizing reduces road reconstruction time from days of lane
closures to hours, providing huge savings to contractors and
reduced impact on the travelers.
• Rubblization is an environmentally friendly “Green” process.
Rubblizing breaks an existing concrete surface into uniform
particle sizes, the rubble is then rolled and an overlay applied
for quick, clean and efficient road reconstruction. Related
benefits include reduced aggregate and labor costs
• One machine can rubblize 1 lane mile per day (7000 sq. yards).
Multiple machines can be used on time sensitive projects. Pavement
thickness dictates speed of the rubblization process. An average
depth on most roadways is 8” to 10”. Rubblizing creates an optimum
aggregate base with existing concrete that is an industry leader
and greatly reduces or eliminates reflective cracking in road
resurfacing with HMA.
• Resonant Machines means exactly that. Not only are we a
preferred vendor in the United States, but RMI has rubblized roads
in China, Eastern Europe, Russia, Canada, Central and South
America.
RMI provides additional services beyond rubblizing. If a project
simply requires concrete breaking, our machines break concrete more
efficiently than drop hammers or multi-head hammers. In fact
because the RB 500’s resonat-ing beam pulverizes concrete, we break
into smaller pieces enabling more efficient loading and increased
hauling capacity, saving fuel, time and money.
RMI’s goal is to partner with contractors and DOTs to maximize
your pavement rehabilitation dollars, speed recon-struction and
perform all work in an environmentally responsible manner.
Resonant Machines’ finished materials will meet or exceed DOT
requirements for pavement breaking and rubbliza-tion. RMI can
provide DOTs with independent case studies about the effectiveness
of our process upon request, as well as provide numerous
references.
ABOUT RMI
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1856 N 106TH E AVETULSA, OKLAHOMA 74116
BOOST IN INDUSTRIAL SECTOR, TOTAL EMPLOYMENT
Industrial employment continues to experience sustained growth.
According to the Bureau of Labor Statistics, Tulsa accounted for
4,300 of the 13,000 jobs added September year-over-year to Oklahoma
industrial employment. Mining and logging em-ployment registered
year-over-year growth of 9.1%, the largest growth among both
industrial and service sectors employment. The manufacturing sector
also saw gains with a year-over-year increase of 5.2%. Tulsa
month-over-month total nonfarm em-ployment growth was only slightly
higher than state-wide growth. With a year-over-year increase of
3.1%, Tulsa nonfarm employ-ment outpaced state-wide growth by 110
basis points (bps).
ABSORPTION IN THE RED, MARKET REMAINS ACTIVE
Compared to the previous quarter, the Q3 2018 market-wide
vacancy rate increased by 40 bps. The East, North, and West
submarkets also saw vacancy rate increases. The West submar-ket
posted the largest increase, 150 bps, due to a handful of new
vacancies, one of which was nearly 190,000 sq. ft. Activity during
Q3 2018 was driven mainly by the East submarket, reg-istering 45
transactions and 222,000 sq. ft. of gross absorption. While the
North submarket had only eight transaction during the
quarter, they were among the markets largest and totaled just
over 212,000 sq. ft. The Tulsa industrial market saw 58
transac-tions and 614,000 sq. ft. of gross absorption.
MAJOR CONSTRUCTION PROJECT STARTS
Space under construction rose significantly quarter over quarter
with the start of a four-story distribution building totaling 2.56
million sq. ft. in the East submarket. The project is expected to
be completed by Q3 2019. The quarter saw one project delivery,
avacant 35,000 sq. ft. flex building. The majority of space
cur-rently under construction will likely be delivered in late 2018
or early 2019. Six other projects, five speculative (spec) totaling
261,648 sq. ft. and a 170,500 sq. ft. build-to-suit, remained under
construction at the close of Q3 2018. Two of the under construction
specs, one of which is a fully pre-leased 28,000 sq. ft. warehouse,
are near completion and expected to be delivered in Q4 2018.
TULSA INDUSTRIAL OVERVIEW
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TULSA MARKET OVERVIEWTulsa has a colorful and prominent history,
starting with the oil boom in the early 1900s that brought
oil barons to the city, being the birthplace of Route 66 and its
now deep roots in aerospace. Oil was
discovered just south of Tulsa in 1905 at the Glenn Pool. At one
time, Tulsa was the largest oil-producing
center globally with more than 400 oil companies calling Tulsa
home and the moniker of “Oil Capital of
the World” was given to the city.
Since that time, many other industries have found success in
Tulsa: manufacturing, aerospace and
transportation, to name a few. Because of the area’s low cost of
doing business (12% below national
average) and skilled workforce, Tulsa is an ideal location for
business growth with many diverse, profitable
industries and an ever-expanding array of living and
entertainment opportunities.
TULSA’S EMPLOYMENT/EMPLOYER OVERVIEW
The Tulsa MSA comprises seven counties: Creek, Okmulgee, Osage,
Pawnee, Rogers, Tulsa and
Wagoner, whose aggregate population is estimated to be 981,005
and the CMSA (includes the addition
of Washington county) is estimated to be 1,151,172 as of 2015.
The gross product or value of all goods
and services produced in the seven-county MSA is estimated to be
$45.8 billion as of 2017. Tulsa is
centrally located in the United States with a transportation
system that makes it remarkably connected to
the rest of the world. Some of the nation’s largest companies in
key industry sectors including aerospace,
energy, healthcare, technology, manufacturing and transportation
make their home in Tulsa because of
its location, pro-business environment and insulation from many
effects of the recent national recession.
FOR SALEINVESTMENT OPPORTUNITY
INDUSTRY DIVERSIFICATIONTULSA EMPLOYMENT CHART
20%
16%
13.7%12.2%
10.4%
10%
5.4%
5.2%
1.2%4.1%
1.7%
Trade, Transportation and Utilities
Education and Health Services
Professional and Business Services
Government
Manufacturing
Leisure and Hospitality
Construction
Financial Activities
Other Services
Information
Mining and Logging
In 2017 Tulsa was ranked 29th in the nation among all large
cities for having the highest employment diversity.
(WalletHub)
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1856 N 106TH E AVETULSA, OKLAHOMA 74116
TULSA’S EMPLOYMENT/EMPLOYER OVERVIEW (CONTINUED)
The Tulsa MSA comprises seven counties: Creek, Okmulgee, Osage,
Pawnee, Rogers, Tulsa and Wagoner,
whose aggregate population is estimated to be 981,005 and the
CMSA (includes the addition of Washington
county) is estimated to be 1,151,172 as of 2015. The gross
product or value of all goods and services produced
in the seven-county MSA is estimated to be $45.8 billion as of
2017. Tulsa is centrally located in the United States
with a transportation system that makes it remarkably connected
to the rest of the world. Some of the nation’s
largest companies in key industry sectors including aerospace,
energy, healthcare, technology, manufacturing
and transportation make their home in Tulsa because of its
location, pro-business environment and insulation
from many effects of the recent national recession.
Tulsa’s major industries include aerospace, healthcare, energy,
machinery and electrical equipment manufacturing
and transportation. Over 70 aerospace companies employ more than
14,000 in Tulsa, making the region a
leader in North America. The American Airlines Maintenance
Repair and Overhaul Division has called Tulsa
home for over 70 years and is Tulsa’s largest employer. American
Airlines’ 3.3 million square-foot Maintenance
& Engineering Center is the largest of its kind in the
world. Besides maintaining its own fleet, American solicits
third-party aircraft maintenance and recently completed
construction on a new $9.8 million, 81,400 square-foot,
wide-body aircraft hangar at Tulsa International Airport. NORDAM
is another major aerospace employer that
has been headquartered in Tulsa since 1969. NORDAM is a leader
in aircraft component manufacturing and
repair services for clients worldwide with facilities also in
Singapore and the United Kingdom.
The energy industry continues to be a major employment sector in
Tulsa as well with three Fortune 500 companies
and an additional four on the Fortune 1000 list call Tulsa their
headquarters. ONEOK, a Fortune 500 company
headquartered in Tulsa, is a leader in gathering, processing,
storage and transportation of natural gas in the
U.S. They are also one of the nation’s largest distributors of
natural gas serving more than two million customers
in the Midwest. Highlights of recent growth in Tulsa/Northeast
Oklahoma include the establishment of Word
Industries and Borets-Weatherford’s North American headquarters,
plus expansions of MidStates Petroleum,
Baker Hughes and Cimarex. Other major energy companies in Tulsa
include Williams Cos., Helmerich & Payne,
Magellan Midstream, NGL Energy and HollyFrontier Corporation.
Examples of Tulsa’s growing alternative
energy sector include Blue Energy Fuels, a designer/builder of
CNG fueling stations. Over 400 large and small
companies in the Tulsa area adds an additional 10,000 plus jobs
to the regional economy.
Healthcare has become one of Tulsa’s major growth sectors with
more than nine major medical facilities providing
state-of-the-art services for northeast Oklahoma as well as
portions of surrounding states. Tulsa is also home
to two medical schools – The University of Oklahoma’s College of
Medicine and The Oklahoma State University
College of Osteopathic Medicine. Tulsa is also home to one of
five locations for the Cancer Treatment Centers of
America and local St. John’s Medical system was awarded
partnerships with MD Anderson Cancer Center and
St. Francis with St. Jude’s Children’s hospital for cancer
treatment, making the region a growing destination for
medical treatment.
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www.cbre.us/tulsa
© 2018 CBRE, Inc. All rights reserved. This information has been
obtained from sources believed reliable, but has not been verified
for accuracy or completeness. You should conduct a careful,
independent investigation of the property and verify all
information. Any reliance on this information is solely at your own
risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All
other marks displayed on this document are the property of their
respective owners. Photos herein are the property of their
respective owners. Use of these images without the express written
consent of the owner is prohibited.
CONTACT US
DWAYNE FLYNN, SIOR, CCIMFirst Vice President+1 918 392
[email protected]
RYAN SHAFFER, CCIMFirst Vice President+1 918 392
[email protected]
FOR SALE
INVESTMENT OPPORTUNITY1856 N 106TH E AVETULSA, OKLAHOMA
74116
CBRE, Inc. operates within a global family of companies with
many subsidiaries and related entities (each an “Affiliate”)
engaging in a broad range of commercial real estate businesses
including, but not limited to, brokerage services, property and
facilities management, valuation, investment fund management and
development. At times different Affiliates, including CBRE Global
Investors, Inc. or Trammell Crow Company, may have or represent
clients who have competing interests in the same transaction. For
example, Affiliates or their clients may have or express an
interest in the property described in this Memorandum (the
“Property”), and may be the successful bidder for the Property.
Your receipt of this Memorandum constitutes your acknowledgment of
that possibility and your agreement that neither CBRE, Inc. nor any
Affiliate has an obligation to disclose to you such Affiliates’
interest or involvement in the sale or purchase of the Property. In
all instances, however, CBRE, Inc. and its Affiliates will act in
the best interest of their respective client(s), at arms’ length,
not in concert, or in a manner detrimental to any third party.
CBRE, Inc. and its Affiliates will conduct their respective
businesses in a manner consistent with the law and all fiduciary
duties owed to their respective client(s).
