Gold's Gym complex purchased by Pro Realty affiliate
BY ROBERT EVATT World Staff Writer
Tuesday, February 26, 2013
2/26/13 at 7:22 AM
The Gold's Gym-anchored retail center at 66th Street and Memorial Drive has been sold to an Oklahoma City-based property management group for $10.275 million.
Cresta Gold Fund, the development arm of Irving, Texas-based Gold's Gym, sold the 77,000-square-foot building just east of The Village at Woodland Hills to an affiliate of Pro Realty, said William Mee, a representative of Pro Realty.
Mee said the purchase made sense, especially due to Pro Realty's ownership of The Village at Woodland Hills.
"It's a nice addition to what we already have," he said.
The building, which is 90 percent occupied, includes tenants such as Baker Street Pub & Grill, Firehouse Subs and Knockouts Haircuts for Men.
Cresta Gold Fund purchased the building, which was formerly a Mervyn's department store, for $5.65 million in 2007. The company then renovated it for retail use as well as a Gold's Gym location.
Mee said Gold's Gym will remain, noting the company has a long-term lease.
The building has an estimated value of $7.78 million, according to Tulsa County tax records.
Cresta Gold Fund also constructed the Broken Arrow Gold's Gym location at 2360 W. Kenosha St., then subsequently sold it to Cole GG Broken Arrow OK in August 2012 for $6.75 million, Tulsa County land records indicate.
Original Print Headline: Gold's Gym complex sold
Robert Evatt 918-581-8447