JV Sells Oklahoma Retail Project Site
- Jan 08, 2018
The Broe Group and Sheffield Crossing, a managed affiliate of OmniTRAX Inc., disposed of an 18-acre lot at its development site to the city of Sand Springs, Okla. Located near downtown, the site will be used for an upcoming retail project.
An OmniTRAX affiliate purchased the Sand Springs Railway Co. and the adjacent 146-acre former steel mill site in 2014. That property is being developed for industrial, rail and transportation/logistics facilities. In January 2017, OmniTRAX transferred 10 acres of the site to the city for the construction of a public safety facility. Since the beginning of the project, the city and OmniTRAX have been in conversations with various companies to build a retail development along Highway 97.
“The City of Sand Springs is pleased with the continuing partnership with OmniTRAX, and we look forward to working together to spur job growth and bring development at this large, centrally located property within our City. The ability of the City to control a portion of the property for retailers is important as it allows us to reach out to those specific retailers needed for our citizens,” said Sand Springs Mayor Mike Burdge, in a prepared statement.
OmniTRAX will continue to redevelop the remaining 118 acres and expects to announce new projects in coming months. The company has also been busy developing the Savannah, Ga. industrial market, partnering with Effingham County Industrial Development Authority to develop the Savannah Gateway Industrial Hub.
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