PRESS RELEASE: CB Richard Ellis|Oklahoma Completes $4.8 Million Sale of a Shopping Center Property in Watertown, South Dakota

OKLAHOMA CITY, OK - CB Richard Ellis|Oklahoma’s Oklahoma City office announced today that it has completed the sale Willow Creek Plaza, a 29,488 square foot (MOL) strip center. Built in 2005 and situated on 3.23 acres, the property is located at 929 29th Street SE in Watertown, South Dakota. Willow Creek Plaza is 100 percent occupied by a well-distributed and diverse mix of national and regional tenants, including Starbucks, Pearl Vision and Sally Beauty Supply. The property is shadow-anchored by Wal-Mart Supercenter. Jason Little, CCIM, Senior Vice President of Investment Properties in Oklahoma City, with Clinton Bennett, CCIM, Managing Broker in NW Arkansas, represented the seller, Wally Properties, LLC in this transaction.

The property is located just west of Interstate 29 and is positioned between the city center and the interstate. 9th Avenue SE is Watertown’s primary retail corridor and the location of Watertown Mall located approximately one mile west and home to JCPenney, Maurices, Payless Shoe Source, Tradehome and Vanity. Watertown serves as a micropolitan hub for retail goods and services for many smaller northeastern South Dakota and western Minnesota communities within a 70 mile radius. Watertown’s draw as a regional hub for such an expansive trade area is why national retailers such as Wal-Mart Supercenter and Starbucks have recently opened for business there.

About CB Richard Ellis|Oklahoma: CB Richard Ellis|Oklahoma, an Affiliate office of CBRE, has grown to 168 employees and is committed to providing the state of Oklahoma with a single source of comprehensive commercial real estate services including brokerage, leasing, management, investment, development and corporate services. In 2012, the company completed 893 transactions involving over 14 million square feet with a value in excess of $590 million. CB Richard Ellis|Oklahoma also services more commercial properties than any other firm in the state with 28 designated real estate managers overseeing 15.8 million square feet among 198 properties. For more information, contact us in the Oklahoma City office at 405.272.5300; NW Arkansas office at 479.301.2520; or our Tulsa office at 918.665.3830. Or visit us online at