- 601 Hamilton Drive, Noble, OK 73068
- Property Type:
- Multi Tenant
- Cap Rate:
- 8.02% cap
- Square Feet:
- 156,623 sqft
- Lot Size:
- 17 acres
- Price Per Square Foot:
- Year Built:
• 156,623-Square Foot, Fully Leased Multi-Tenant Industrial Warehouse & Office Flex Situated on 17 Acres
• Concrete Tilt Wall Construction with 26-30’ Clear Heights and 15 Dock-High Doors
• National & Regional Credit Tenants with Long-Term Rental Histories
• Oklahoma University and Valley Relocation Tenants Occupy One Building, Built in 1989
• Hitachi Computer Products and Pro-Form Plastics Tenants Occupy Two Buildings, Built in 1982
• $1.7 Million in Tenant-Completed Facility Upgrades
• Proximate to The University of Oklahoma, Highway 77, and Norman, OK
• Located in the Southeast Outlying Submarket with a Vacancy Rate of 0.7 Percent
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 601 Hamilton Drive in Noble, Oklahoma. The subject property consists of approximately 156,623 square feet of space and is situated on 17 acres of land. The fully leased, multi-tenant industrial warehouse and office flex property features concrete tilt wall construction with 26-30’ clear heights and 15 dock-high doors. The asset has national and regional credit tenants with long-term rental histories and $1.7 million in tenant-completed facility upgrades. Two of the three buildings were built in 1982, and the other in 1989. Proximate to the University of Oklahoma, Highway 77, and Norman, Oklahoma, the property is located in the Southeast Outlying Submarket with a vacancy rate of 0.7 percent.
The Southeast Outlying Industrial submarket lies within the Greater Oklahoma City Metropolitan area and boasts a 99.3 percent industrial occupancy rate with average rental rates of $6.40 per square foot for the Oklahoma City market (CoStar). As of 2020, the IronWolf Building’s four on-site tenants pay an average of $6.32 per square foot on gross and modified gross leases. The subject asset’s accessible location coupled with the push towards real estate de-densification (via the COVID-19 pandemic) shows strong optimism for the asset’s desirability and rental growth.
The fastest growing area of the state, Oklahoma City includes the sectors of information technology, services, health services, and administration. Composed of seven counties (Oklahoma, Grady, Canadian, Cleveland, Logan, McClain, and Lincoln), this metro area lays claim to the state’s capital of Oklahoma City, the famed Thunder NBA team, and a number of triple-A and semi-professional sports teams.