Investors buy OKC Seagate Technology site

[Bowser214]

Per the NewsOK real estate section. Richard Mize

An investment group that specializes in "special situations" has bought the long-shuttered Seagate Technology computer disc manufacturing plant at 10321 W Reno Ave. in Oklahoma City with plans to build 1 million square feet of warehouse-logistics space and redevelop the entire 85-acre property.
Oklahoma Property One LLC, an arm of Miami, Florida-based Flacks Group, paid Seagate $2.34 million for its 280,000-square-foot plant and acreage at 10321 W Reno Ave., in a transaction by Brett Price, Karley Harper, and Kris Davis with OKC brokerage Newmark Robinson Park representing Seagate.
It was once listed for $9.8 million, nearly four times the sale price.
Flacks Group had no specifics on its plans. The site, he said, "provides Flacks Group with a tremendous development opportunity for over 1,000,000 square feet. Flacks Group plans to construct best-in-class, mixed-use industrial space that will complement the rest of the site and bring it to the next level for any discerning tenant."

https://www.oklahoman.com/story/busi...p/73592319007/

[ChrisHayes]

I've gone up and down that section of Reno countless times and never really noticed that that facility was abandoned. I just always noticed ATC Drivetrain and the facilities around it being used. Kind of weird they're wanting to develop a million sq ft of warehouse space when a lot of OKC Logistics Park and that new warehouse park further down Reno still doesn't have any tenants. However, I'm glad there are plans for something new there, rather than an abandoned building.

[Laramie]

10321 W Reno Ave, Oklahoma City, OK 73127

[Caddys83s]

When did Seagate left OKC?

[OU Adonis]

When did Seagate left OKC?

That building hasn't been occupied since around March 2020. When covid restrictions with the company was lifted in June 2022 they returned to a leased space down the road at 7725 connect building. They laid off more people in OKC in April 2023 and made the rest remote employees except for a small warehouse presence @ 7725 connect.

[bombermwc]

Kinda wondering what they plan on for this. Was it just speculative purchasing for something later or are they planning on something themselves for the building?