JLB Properties of Edmond had the land on the market about twoyears and then received four offers within three months, accordingto Andy Burnett, investment adviser for Sperry Van Ness in OklahomaCity. Burnett says the sudden interest was sparked by developmentaround land, situated at 2017 Interstate 35.

Burnett tells GlobeSt.com that, in addition to Mercy HealthSystems' offer, JLB received offers from retail developers.Ultimately, the healthcare provider, represented by Oklahoma Citybroker David Sasser, ended up with the land due to the certainty ofclosing the deal.

"They were an end user with a strong motivation to close. Theother buyers needed to put together tenants before closing,"Burnett says. Of the 18.25 acres acquired by Mercy Health Systems,he says about two acres will be part of a greenbelt to separateresidential neighborhoods from the project.

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