Iron Mountain Sells Oklahoma City Industrial Asset
- May 14, 2020
Kessinger Hunter Capital has purchased a 145,000-square-foot industrial building in Oklahoma City for $9 million. Iron Mountain was the seller, according to public records. BOK Financial provided the buyer with a seven-year, $3.5 million acquisition loan.
Located on 16 acres at 11300 N. Partnership Drive, the single-story cross-dock facility was completed in 2002. The building has an 11,200-square-foot office component. At the time of the transaction, the property was fully occupied by Iron Mountain, Propak Logistics and a regional wine and spirits distributor. The building is situated alongside Interstate 35, roughly 20 miles northeast of Will Rogers World Airport and 12 miles from downtown Oklahoma City.
The asset last changed hands in 2015, when the current seller acquired it for $8.2 million from Gardner Tanenbaum Holdings, public records show. In January, Gardner made headlines with its $125 million disposition of Boeing’s Oklahoma City Campus, one of the largest real estate transactions in the city’s history. Tenmark Holdings acquired the 33-acre, 810,000-square-foot portfolio.