The new facility will act as a Warehouse Facility for military engines
OKLAHOMA CITY, July 20, 2023 /PRNewswire/ — Seefried Properties, a privately held real estate firm specializing in the development of industrial properties, along with capital partner and real estate investment manager, Truist Securities, announce construction is underway on a new warehouse facility on behalf of a major aerospace manufacturer. Situated on an 85-acre site on South Air Depot Boulevard, the new facility will include an 842,043 square foot warehouse (expandable to 942,000 square feet) with a two-story, 86,000 square foot, state-of-the-art office. Future development plans include an adjacent 100,000 square foot Training Facility.
“We are proud to have been selected as Pratt & Whitney’s partner tasked with building a new home for their 500 Oklahoma City based employees,” said Jaymie Bullard, Development Manager for Seefried’s south central region. “It is an exciting project with a tremendous amount of engagement from Pratt & Whitney leadership. Truist Securities has, unsurprisingly, been a natural fit as the Owner/Landlord. This is Seefried/Truist Securities’ third Oklahoma City project together in consecutive years, so the trust and continuity is undeniably valuable.”
The new facility will act as a hub for depot support for Pratt & Whitney military engines maintained at Tinker Air Force Base and other depot locations, including those for the F-35, C-17, F-22, F-15, F-16, B-52, and E-3 AWACS.
Once complete, the new facility will expand the company’s current sustainment capacity in Oklahoma City while consolidating six existing sites into two locations: the new Pratt & Whitney Oklahoma City facility and Tinker Air Force Base’s Air Logistics Complex.
The new building will feature modern specifications including tilt-up construction, 40-foot clear heights, generous concrete truck courts and a total of 120 potential dock-high doors, 6 grade-level doors, 515 auto parking stalls (including EV charging spots), and 103 trailer spaces. The design and layout of the property offer efficient ingress and egress to Interstate Highway 240.
Construction of the new facility is slated for completion during the second quarter of 2024.
The general contractor on the project is Layton Construction; Pross Design Group, Inc. is the architect of record; Olsson Engineering is the civil engineer. Seefried would also like to extend thanks to Sean Duffy of Cushman and Wakefield who represented Pratt & Whitney on the transaction along with Keith Kuhlman of The Alliance Oklahoma City who represented the land seller.
About Seefried Properties:
Founded in 1984 by Ferdinand Seefried, Seefried Properties is a privately held real estate firm that focuses on the development, leasing and management of industrial properties across the United States. The firm primarily focuses on development in core industrial markets and build-to-suits with tenants in core and second-tier markets. Seefried leases and manages approximately 25 million square feet for its institutional and European clients and has developed over 200 million square feet of space valued in excess of $18 billion across 100+ cities. Based in Atlanta, the firm has regional offices in Dallas, Chicago, Los Angeles, and Phoenix. For more information, please visit www.seefriedproperties.com.
About Truist Securities:
Truist Securities is the full-service corporate and investment banking arm of Truist Financial Corporation. With a rich history extending back more than 125 years, Truist Securities offers a robust capital markets and investment banking platform that includes a comprehensive array of strategic advisory, mergers and acquisition, and capital markets capabilities for corporate and institutional clients, including sales, trading and research services in both fixed income and equity. The firm also provides corporate finance, asset finance, risk management, liquidity, and treasury management solutions to meet clients’ full spectrum of financial needs. Truist Securities’ Structured Real Estate team provides build-to-suit lease and sale/leaseback capital to support its client’s financial and growth strategies. Headquartered in Atlanta, Truist Securities has offices located across the U.S. Learn more at www.truistsecurities.com. Securities and strategic advisory services are provided by Truist Securities, Inc., member FINRA and SIPC.
SOURCE Seefried Industrial Properties