MidTown Village Sells for $11.7 Million

Sandor Development of Indianapolis recently bought the 126,316 SF MidTown Village Shopping Center at 5200 E. Skelly Drive, which includes tenants Best Buy Co. and Bed, Bath & Beyond, for $11.7 million. While this marks the independent commercial property company’s first step into the Tulsa marketplace, it draws upon Oklahoma experience through ownership of the Best Buy store in Norman and the 32,000 SF Wal-Mart Plaza in Tahlequah.

Sandor acquired MidTown Village in a “1031 Exchange” tax deal with the seller,

Worth Williams Properties of Dallas, Decatur Realty and Auburn Realty, two Sandor limited liability corporations based in Scottsdale Ariz. bought the center from Whitewing Norman LLC of Dallas, owned by Worth Williams.

The MidTown Village purchase came after months of inactivity at the center. Other than two anchor tenants, it has remained empty. Ideal Image, a hair-removal specialist, will soon open in a 3,000 SF space. IBC Bank opened a 3,400 SF branch in an out parcel site in February.

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