Sword Industrial Partners Purchases 1MSF Portfolio

Sword Industrial Partners has acquired a 24-building, 1.07 million-square-foot portfolio consisting of six industrial business parks in Tulsa’s Southeast and South Central submarkets from DRA Advisors for an undisclosed sum, Sword announced Friday.

The portfolio’s six parks are all less than 10 miles from downtown Tulsa and Tulsa International Airport, and in strategic infill locations with access to Interstate 44 and U.S. Route 64/OK-51. The properties total 103 suites suitable for light industrial, warehouse and distribution businesses according to Scott Word, partner at Sword Industrial Partners.

The portfolio is 93.9 percent occupied overall, a Sword spokesperson told CPE.

The six properties are:

•  Space Center (I, II & III): 7001–7287 E. 38th St., three buildings with 23 suites on 22 acres; 495,000 square feet; 100 percent occupied

•  Space Center East: 11915 and 12027 E. 51st St., two buildings with 12 suites on 13 acres; 202,500 square feet; 100 percent occupied

•  Tulsa Business Park: 7202–7378 E. 38th St., 12 buildings with 26 suites on 11.3 acres; 206,220 square feet; 92.4 percent occupied

•  Tandem Business Park: 12101–12221 E. 51st St., five buildings with 22 suites on 7.7 acres; 88,429 square feet; 87.7 percent occupied

•  Maxim Center: 4717–4733 S. Memorial Drive, one building with 11 suites on 2.5 acres; 39,182 square feet; 73.1 percent occupied

•  Maxim Place: 6701–6715 E. 41st St., one building with nine suites on 2.2 acres; 33,441 square feet; 17.3 percent occupied

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Across the portfolio, major tenants include Vital Records Control, Wholesale Electric Supply, IDI (Insulation Distributors Inc.), Door Dash, Auto Parts Warehouse, Clark Seals, Pepperidge Farm, RXO, Public Service Company of Oklahoma, Wilson Engineered Surfaces, BIMBO Bakeries and Valley Floral Inc.

In February, Sword acquired Braniff Park West in northeast Tulsa for $20 million. The two-building, 21.7-acre infill warehouse/distribution park totals 261,692 square feet.

Sword Industrial Partners was founded by MAG Capital Partners of Dallas to invest in multi-tenant infill industrial properties in the Western U.S.

Light metal, heavy industry

Earlier in the Tulsa area, U.S. Aluminum Co. agreed to explore the possibility of developing an aluminum fabrication plant with Emirates Global Aluminium and Century Aluminum near the new aluminum smelter that EGA and Century are planning in Inola, Okla., in the Tulsa metro.

If the smelter goes through, it will produce about 750,000 metric tons of aluminum annually, a quantity about equivalent to current U.S. domestic production. Earlier this month, however, Tulsa World reported that Oklahoma Attorney General Gentner Drummond had filed suit over purported environmental issues with the smelter.