Property tours are available on 3/12 and 3/19/2020 by appointment only. Please contact the listing broker to schedule.
SVN OAK Realty Advisors is pleased to announce the exclusive listing of Palazzo Shopping Center in Tulsa, Oklahoma, a 59,600 SF neighborhood center located in South Tulsa (Bixby), just off Memorial Drive and E 103rd Street.
Situated on ±4.97 acres, the Palazzo is a U-shaped center with 270 parking spaces. The configuration of the center allows ingress and egress to 75% of the front and back of the retail spaces, providing excellent exposure for tenants, as well as ease of entry for consumers. All units have individual meters for water, sewer, gas, and electric.
Unit mix consists of 1,000 SF to 10,000 SF suites, with a good tenant mix and dispersion of lease maturities. Palazzo Shopping Center is a stable investment opportunity, with the ability to grow rental rates and reimbursables from both current tenants and potential new tenants. The spaces have configurable suites with shallow bay depths ranging from ±40’, 60’, and 80’, allowing for a variety of users.
High visibility from Memorial Drive and 103rd Street. Direct access road to B &B Theater Tulsa, with proximity to other traffic generators such as Costco, Target, Sprouts and Aldo. Immediate market area nears the top of the state's highest-ranking average household income. New signed leases will bring occupancy to 95%. Additional income and recoverable expenses to increase NOI and Cap Rate