{"id":1004762812,"date":"2025-06-26T02:43:21","date_gmt":"2025-06-26T10:43:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004762812"},"modified":"2025-06-26T02:51:30","modified_gmt":"2025-06-26T10:51:30","slug":"bain-capital-jv-buys-retail-trio-for-212m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/","title":{"rendered":"Bain Capital JV Buys Retail Trio for $212M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004762820\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/the-triangle-at-classen-curve\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Triangle at Classen Curve\" data-image-description=\"&lt;p&gt;Press release image &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Triangle at Classen Curve in Oklahoma City. Image courtesy of Bain Capital and 11North Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg\" alt=\"Aerial shot of The Triangle at Classen Curve in Oklahoma City\" class=\"wp-image-1004762820\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption class=\"wp-element-caption\">Whole Foods is one of the anchor tenants at The Triangle at Classen Curve. <em>Image courtesy of Bain Capital and 11North Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The joint venture of Bain Capital and 11North Partners has acquired, for about $212 million, a portfolio of three open-air, lifestyle retail centers in Oklahoma City. The strategic partnership was formed in April 2024 and focuses on acquiring and operating such assets across the U.S. and Canada.<\/p>\n\n\n\n<p>The portfolio comprises Nichols Hills Plaza, The Triangle at Classen Curve and Classen Curve, which together total 327,679\u00a0square feet on almost 40 acres, with an average occupancy of more than 97 percent. All three properties are in the growing, affluent Nichols Hills submarket. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-investment-sales-volume-rises\/\">Retail Investment Sales Volume Rises<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The assets previously traded in 2014 for $51.8 million, according to CommercialEdge information. They\u2019re anchored by Whole Foods and Trader Joe\u2019s and tenanted by more than 50 unique-to-market retailers, including Lululemon, Warby Parker, West Elm, Anthropologie, Sephora, and Kendra Scott. <\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.commercialsearch.com\/news\/why-investors-are-hungry-for-grocery-anchored-retail\/\">grocery-anchored properties<\/a> also benefit from traffic volumes amounting to 4.3 million visitors per year, as well as their proximity to the city\u2019s two largest private employers, Integris Baptist Medical Center and Chesapeake Energy Headquarters.<\/p>\n\n\n\n<p>The founder of both Bain and 11North, Brian Harper, put the acquisition in the context of the resilience that open-air retail centers have shown across multiple economic cycles and their long-term fundamentals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-oklahoma-city-s-retail-market-still-steady\">Oklahoma City\u2019s retail market still steady<\/h2>\n\n\n\n<p>Oklahoma City\u2019s retail market is reasonably steady, as a slight rise in vacancy, to 5.6 percent, seems to be balanced by an increase in leasing activity, especially in Class A space, from a mix of local and new-to-market retailers, according to a first-quarter report from NAI Sullivan Group. The overall average rental rate is $15.90 per square foot, also per NAI Sullivan.<\/p>\n\n\n\n<p>A modest 564,000 square feet of retail space (versus an inventory of about 103 million square feet) is under construction. The largest two properties under way are both in Edmond, and both are delivering this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Oklahoma City assets previously traded in 2014 for $52 million.<\/p>\n","protected":false},"author":882,"featured_media":1004762820,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749,51973],"tags":[45194],"class_list":["post-1004762812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","category-southwest","tag-bain-capital-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bain Capital JV Buys Retail Trio for $212M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Bain Capital and 11North Partners have acquired Nichols Hills Plaza, The Triangle at Classen Curve and Classen Curve in Oklahoma City.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bain Capital JV Buys Retail Trio for $212M\" \/>\n<meta property=\"og:description\" content=\"Bain Capital and 11North Partners have acquired Nichols Hills Plaza, The Triangle at Classen Curve and Classen Curve in Oklahoma City.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-26T10:43:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-26T10:51:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/\",\"name\":\"Bain Capital JV Buys Retail Trio for $212M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg\",\"datePublished\":\"2025-06-26T10:43:21+00:00\",\"dateModified\":\"2025-06-26T10:51:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Bain Capital and 11North Partners have acquired Nichols Hills Plaza, The Triangle at Classen Curve and Classen Curve in Oklahoma City.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bain-capital-jv-buys-retail-trio-for-212m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/The-Triangle-at-Classen-Curve.jpg\",\"width\":1200,\"height\":900,\"caption\":\"The Triangle at Classen Curve in Oklahoma City. 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