Land Deals Finalized for $110 Million Development

Claremore Vision LLC dba Jester Financial LLC has purchased four sites, containing just over 123 acres, for the development of the “Oklahoma Plaza,” a 140-acre 750,000-SF development at the intersection of Highway 66 and Country Club Road in Claremore.
The transactions, which total $7.791 million, include a one-acre tract of land just south of the Claremore Wal-Mart SuperCenter, which currently contains an 8,000-SF Dollar General store and a 500-SF Amy’s Haircutters from RGR Inc. for $850,000.
Claremore Vision has also purchased a one-acre tract of land, which is currently home to an 8,000-SF Sears store, a 2,000-SF Spa and Pool Supply and a 2,000-SF Crossroads Church from Claremore D & R Investments LLC for $955,000.
Both one-acre tracts will become part of the main entry into the development.
The development has also acquired 62.73 acres from Leila Carmack for $986,000. The property, which is adjacent to the original 59.02-acre property acquisition by Claremore Vision, was owned by the late Bobby D. Carmack and Leila Carmack. The original land purchase was made from Sue C. Hines for $5 million.
Tony Lombardi of Stan Frisbie Real Estate LLC, the exclusive broker for the development, served as a transactional broker in all of the sales.
The development, which will contain 550,000 SF of retail space and 75,000 SF of office space, will include a 14-screen movie theater, outdoor amphitheater and decorative water features in addition to hotel space.
The development will contain a total of 650,000 SF of retail and office space.

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