In 1972, JAH Realty purchased an 11-acre site at the southeast
corner of NW Highway and N. Rockwell. Over the ensuing seven years, JAH
patiently waited for the right development opportunity as the market in
northwest Oklahoma City grew and matured. In 1979, JAH developed a
free-standing building at the hard corner of the site for Hardee’s. In
1982, JAH Realty began discussions with Walmart to anchor a new 156,000
s.f. shopping center. In 1983, the Company broke ground on the
development and later secured Handyman as the junior anchor. In the mid
1990s the project suffered as Walmart relocated and the junior anchor
space was vacated. After a succession of grocery stores subleased from
Walmart, the JAH Realty again regained control of the anchor space and
began a redevelopment program. In 2000 JAH started the redevelopment of
this asset by procuring Hobby Lobby to fill 67,000 s.f. of the former
Walmart space. Later that same year, the original Hardee's building was
expanded and renovated for Starbucks, Quizno’s and Cingular Wireless.
In 2003, the Company started an ambitious project to re-tenant the
remaining vacant space left over from the former Walmart. Additionally,
JAH Realty facelifted the entire project adding expansive fascias,
updated color schemes, and a clock tower. Simultaneously, the junior
anchor space was sub-divided and leased to Hancock Fabricks, Dollar
General, and a local restaurant. To this day, this project generates
unleveraged cash returns in excess of 18% on investment.