A planned industrial project in Northeast Tulsa will include nearly 685,000 SF between two buildings situated on approximately 44 acres near the sprawling Whirlpool facilities
VanTrust Real Estate, LLC (VanTrust), a full-service commercial real estate development company, has launched a 44-acre spec industrial project in Northeast Tulsa. Tulasi Commerce Park will offer businesses the opportunity to enter the market or expand their current operations in brand-new Class A industrial space. The park will feature a 231,130 SF rear-load building and a 453,486 SF cross-dock building. Both buildings will offer modern clear heights, a multitude of dock and drive-in doors, as well as ample car and trailer parking, with additional trailer parking available in the future.
“As VanTrust’s first Tulsa project, we couldn’t be more excited about entering the market,” said Grant Harrison, Senior Director of Development at VanTrust. “Tulsa has been on our radar for a while, and we felt that delivering this type of modern industrial space would fulfill a significant need in the market and would be a great way for VanTrust to establish a presence in Tulsa.”
Located at East 76th Street North and Whirlpool Drive, Tulasi Commerce Park is strategically situated near major highways, the Tulsa International Airport, and the Port of Catoosa. Furthermore, the planned park is directly north of Whirlpool’s 800,000-square-foot distribution center, which announced in June 2021 that it will invest $15 million in the Tulsa region and add 150 jobs.
VanTrust is working with Collier Imgrund of Newmark Robinson Park to market the project. Strong fundamentals in the Tulsa industrial market led VanTrust to invest in what they viewed as much-needed speculative space. The decision was based on robust absorption and rent growth over the past year. Vacancy rates average 3.6% in Tulsa, with annual rent growth of 6.5%. In 2021, Tulsa absorbed 510,000 SF of leased industrial space.
“This is the culmination of several years of planning,” Newmark’s Imgrund said. “Tulsa’s industrial market has proven significant resilience to the global economic climate over the last few years and we believe this development will help service Tulsa’s growing requirements.”
The development is slated for completion in Q2 2023.