Summary
Adams Creek Town Center is a new, 142k square-foot retail development located in Broken Arrow, OK – the largest suburb of Tulsa. Once complete, the multi-tenant property will include a Bealls/Home Centric, a Burlington Coat Factory, as well as a Books-A-Million store. The retail development will be shadow anchored by a Lowe’s Home Improvement, directly adjacent to the property.
The development team, led by Parkes Development Group, specializes in the development and management of retail and mixed-use properties, with a focus on retail power centers in Tennessee and Oklahoma. Sister company, Parkes Construction will serve as the project’s contractor. Once complete, Adams Creek Town Center will provide the city of Broken Arrow with new retail options, while bolstering the local economy.
Opportunity
NGC partnered with Firstar Bank on the $57 million Adams Creek Town Center project. $21.7 million (38% LTC) in C-PACE capital will be utilized to finance key measures for the project, including the building envelope, MEP systems, as well as finishes. Through C-PACE, the Sponsor was able to fill a gap in their capital stack, while enabling them to lower their overall short- and long-term project costs.
