By Kelley Chambers
The Journal Record
NORMAN- A Norman shopping center that was built in the
1970’s and underwent renovations in the 1980’s and again
n the 1990’s sold recently to a Norman group.
Westpoint Group LLC, led by Anthony Mirzaie, president and owner
of Westpoint Homes, purchased the 102,696-square-foot shopping
center for $4.5 million.
The seller was Denver-based J. Herzog and Sons Inc.
Mirzaie said as a Norman resident he believes in the location
and benefits the center provides for the east side of Norman.
The center is at 1205 E. Lindsey Dr., and is anchored by a Value
Foods grocery store and a Dollar General Store.
At the time of the sale the center reported 90-percent
occupancy.
Built in 1973, the center was renovated I 1980, then again in
1998.
The buyer plans to spend an undisclosed amount on a renovation
of the shopping center early next year.
Other tenants in the center, which is about a mile from the
University of Oklahoma, include Movie Place, Oklahoma Goodwill and
several other stores.
The buyer also owns shopping centers in Oklahoma City including
the SW 119th Marketplace and the Glen Eagles Plaza.
Westpoint built both of those properties and handles the
leasing.
A representative for Westpoint said it was the company’s
first shopping center purchase in Norman.
Westpoint, a residential and commercial builder since 1985, has
almost a dozen housing additions in Norman and one in northwest
Oklahoma City.
The sale of the shopping center closed Jan. 15.
