Northmarq completes $3.9M sale of corporate leased Kum & Go in Tulsa, OK

TULSA, Okla. (Jan. 8, 2025) — Northmarq’s Tulsa Commercial Investment Sales team led by David Annett, associate vice president, successfully brokered the $3.9 million sale of a ±4,850-sq.ft. retail property leased to Kum & Go L.C., a leading Midwest convenience store brand.

The tenant operates on a long-term absolute NNN lease.

Built in 2012, the property is ideally situated at the signalized hard corner of W. 81st Street South and S. Olympia Avenue at the entrance of the bustling Tulsa Hills Shopping Center (with over 12 million visitors per year).

Northmarq represented the seller — a private investor, Maple Street Management — in their original acquisition of the deal and now again on their ultimate exit. The buyer was a California-based purchaser who owned other property in the shopping center.

“The market has plenty of inventory to choose from,” Annett said. “This property stood out because it was the only major credit C-store with greater than 10 years on the lease, and it was only $4 million. In a challenging market, basis-sensitive investors were identified. We received multiple offers, and ultimately landed on the buyer due to their ownership in the submarket so far.”

Kum & Go operates nearly 400 locations across 12 states. In 2023, merged with Maverik – Adventure’s First Stop, creating a best-in-class C-store network across the Midwest and Rocky Mountain Regions.

The property boasts excellent visibility and strong demographics with the average household income of over $115,000 within a 1-mile radius. Anchored by national tenants such as Target, Lowe’s and PetSmart, the Tulsa Hills Shopping Center (9 million annual visits) is the top power center in the market and is strategically located just off of U.S. Highway 75. Other best-in-class national retailers nearby include: ALDI, AMC Theatres, Bath & Body Works, Best Buy, Chick-fil-A, Crumbl Cookies, Dick’s Sporting Goods, Five Below, Hobby Lobby and more.