Baltimore Firm Pays $2M for Tulsa Shopping Center

Article excerpt

A Baltimore company paid $2 million for east Tulsa's 146,713- square-foot Briar Village Shopping Center, with plans to renovate the 44-year-old property, according to George Thomas with Whiteside and Grant Realtors of Tulsa.

Briar Village Center LLC paid $13.94 per square foot Friday to Briar Associates LLC of San Bruno, Calif., to take over the 9040 E. 31st St. center.

The new owner operates a chain of Community Thrift Stores, including one in Tulsa at 6921 E. Admiral Place, said Thomas, who represented the buyer in the transaction. Jim McDowell of McDowell and Associates represented the seller

Thomas said Community Thrift Stores will occupy a portion of Briar Village after an extensive renovation. He said many details remain unfinished.

"They just got title to it, so there's no drawings," Thomas said. "They have not engaged an architect yet."

Sitting less than a mile east of Mingo Road, the center represented a hot suburban project when it opened in 1968, anchored by Safeway. Thomas said it grew to its present size when Pricemart added a 54,800-square-foot location in 1985.

The center encountered problems when Walmart Neighborhood Market opened just west of Briar Village at 3116 S. Garnett Road, said GBR Properties Vice President of Retail Bob Parker. …

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