9/5/2008

San Antonio investor pays $6.5M for Oklahoma City office tower

by Eric Ramsden
Lake Park Tower-Cotter, LLC, an entity headed by San Antonio real estate investor James F. Cotter, has purchased the Lake Park Tower office building in Oklahoma City, Okla., for $6.5 million from Dallas-based Domain Lake Park Associates, LP.

Tim Strange and Zach Martin of Sperry Van Ness represented Domain Lake while Cotter was self-represented in the deal.

The six-story building is located at 6525 N. Meridian Ave. Built in 1982, it contains 103,017 square feet and was sold with a 6.49 percent capitalization rate. At the time of sale, the building had seven tenants representing an occupancy rate of approximately 56 percent.

Address: 6525 N. Meridian Ave., Oklahoma City, Okla.

Size: 103,017 square feet

Built: 1982

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Filed Under: Office

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