Matador acquired this property in October 2021, sourced through a local Oklahoma City boutique brokerage.
The previous owner, a local landlord, had not adjusted rental rates to reflect current market conditions, which were 200-300% below prevailing rates. With all tenants on month-to-month leases, we had the opportunity to review and adjust every lease upon acquisition, immediately raising rents to market rates and thus creating significant value for our investors. Each building is separately platted, giving us the flexibility to potentially sell each structure individually to interested owner/users in the future. After the acquisition and rent recalibration, we experienced temporary vacancies, with all but one tenant leaving due to the rent increase and change in ownership. Nevertheless, our proactive leasing strategy enabled us to fill these vacancies completely, and we currently remain fully leased. This asset is tenanted by local contractors, auto services, and two other general industrial businesses.

• Size: 38,233 SF

• Land: 2.27 AC

• Tenant Type: Multi