NDC Capital Partners LLC, Royalton Real Estate Capital LLC and Garrett Moore Co. will build Riverwalk Plaza on 17.8 acres at the intersection of 19th Street and Telephone Road. Terry G. Moore, managing general partner with the Dallas-based Garrett Moore Co. points out that the partnership isn't alone in developing in the area.
"Within the past year or so, the area's gone from a planned 200,000 sf of retail to somewhere around four million sf of planned retail," Moore says. "Target is there. Wal-Mart is there. So are a lot of other retailers." He says that Riverwalk Plaza will join the fray, opening for business eight to 10 months after ground breaks. Garrett Moore is preleasing the project.
Eric D. Jones, chief investment officer with NDC Partners in New York City, says Riverwalk Plaza is the company's first development in Oklahoma. NDC does own four other assets in the state, but they weren't ground-up construction. He adds this is the first transaction that NDC has done with Garrett Moore and Royalton Real Estate, also Dallas based.
"Moore and Royalton brought the deal to us and we liked it because that's a growth corridor in that portion of Oklahoma City. This is one of the last prime land spaces available in that immediate area," Jones tells GlobeSt.com.
Although NDC Partners' general method is to build and sell, Jones wouldn't speculate on what would happen with Riverwalk Plaza. "The decision to sell will be made along the way," he says. "We've been known to hold onto things, depending on the outcome."
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