Newspaper article THE JOURNAL RECORD

The Journal RecordBusiness Briefs: February 26, 2014

Newspaper article THE JOURNAL RECORD

The Journal RecordBusiness Briefs: February 26, 2014

Article excerpt

Expansion planned for Outlet Shoppes

OKLAHOMA CITY - An 18,200-square-foot expansion is planned for the Outlet Shoppes at Oklahoma City.

The expansion will include space for Forever 21 and Lid Locker Room and other retailers, according to Horizon Group Properties and CBL & Associates Properties, project developers.

The expansion on the southeast side of the retail complex at Interstate 40 and Council Road in west Oklahoma City is expected to be completed in August.

The Outlet Shoppes at Oklahoma City opened in late 2011.

Prototype hotel planned in Sand Springs

SAND SPRINGS - A prototype Holiday Inn Express will be built on a 30-acre site in Sand Springs

The city of Sand Springs and Jim Tapp, president of Tapp Development, announced plans for the hotel on Wednesday.

The Holiday Inn Express will be in the RiverWest development, which is planned as a connection between downtown and the riverfront area in Sand Springs.

Plans for RiverWest include an International House of Pancakes and CVS Pharmacy, plus a relocated O'Reilly Auto Parts store.

The 70-room Holiday Inn Express will be developed by Anish Hotels Group using a prototype design.

"It would be a first, and it will be in Sand Springs, Oklahoma," said Andy Patel, CEO and president of Anish. "We own 12 hotels and are in development on five more, including a new hotel in downtown Tulsa."

Patel said he expects to break ground on the hotel this spring and open for business by the end of the year.

Other RiverWest projects are expected to be announced soon, Tapp said.

Edmond-based Tapp Development has developed several projects in the Tulsa area.

"We expect a very exciting year ahead for RiverWest," Tapp said.

Williams Partners to buy Canadian assets

TULSA - Williams Partners has agreed to buy Williams' Alberta, Canada, operations for $1.2 billion.

The purchase is expected to close on Friday.

The assets include an oil sands offgas processing plant near Fort McMurray, 260 miles of natural gas liquids and olefins pipelines, and an NGL-olefins fractionation facility and butylenes-butane splitter facility at Redwater.

Tulsa-based Williams Partners also acquired an in-progress expansion project at the Redwater facility.

Williams owns 64 percent of Williams Partners, including the general-partner interest.

Continental 4Q adjusted income up 19 pct.

OKLAHOMA CITY - Continental Resources reported higher adjusted net income for the fourth quarter, according to earnings released after the stock market closed Wednesday.

Adjusted net income was $228.1 million for the quarter, up 19 percent from $191.8 million for the same period a year earlier. The oil driller missed Wall Street's earnings-per-share estimate by 7 cents, posting $1.23 per diluted share.

The company reported a 20-percent increase in earnings before interest, taxes, depreciation, depletion, amortization and exploration expenses, of $712 million, up from $595 million in the fourth quarter of 2012. …

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