240 Penn Park, a 241,831-square-foot retail power center in Oklahoma City built in 2006, has sold for $38,000,000 at a 7.45% capitalization rate. Phillip Mazaheri, CCIM, then a Retail Investment Advisor with Price Edwards & Company, represented the buyer; the transaction closed on July 13, 2022.
Located along the Pennsylvania Avenue corridor near Northwest Expressway, 240 Penn Park benefits from heavy traffic counts and a deep national tenant base.
The acquisition became a cornerstone of the growing Mazaheri power-center portfolio.
240 Penn Park is owned and managed directly by Mazaheri Properties.