Disney Investment Group has completed the sale of University Town Center, a large open-air retail property in Norman, Oklahoma, in an $82.25 million transaction. The firm brokered the deal between seller Rainier Companies and buyer Mazaheri Properties, continuing its long-running involvement with the asset.
David Disney and Adam Crockett of Disney Investment Group represented Rainier Companies in the disposition and also sourced Mazaheri Properties as the buyer. The sale marks a return engagement for the brokerage team, which previously handled the sale of University Town Center to Rainier Companies in 2019.
University Town Center is reported to be 99% leased and home to more than 40 tenants, reflecting a highly stabilized rent roll at the time of sale. The center is anchored by a roster of national chains, including Academy, Kohl’s, TJ Maxx, Ulta, HomeGoods, Michaels, Petco, Office Depot and DSW, which together help drive consistent customer traffic.
In addition to its primary anchors, the property benefits from shadow anchors SuperTarget and Crest Foods, which sit adjacent to the main shopping center and contribute to the overall trade-area draw. According to Disney Investment Group, the center receives more than 12 million customer visits annually, underscoring its role as a high-traffic regional retail destination.
The brokerage notes that University Town Center is ranked as the number one shopping center in its state. On a national basis, the property is described as ranking within the top 1% of all shopping centers, highlighting both its tenant mix and its strong consumer visitation metrics.
Mazaheri Properties, the buyer, has been active in commercial real estate investment and development for more than 35 years. The firm operates as a sole principal investor and focuses on assets within the Oklahoma City metropolitan statistical area and the Dallas-Fort Worth markets, aligning University Town Center with its long-standing geographic strategy.
The latest trade of University Town Center continues the asset’s history of institutional-level ownership and professional brokerage involvement. While detailed financial metrics beyond the gross sale price were not disclosed, the combination of high occupancy, national credit tenancy and strong visitation figures provides context for investor interest in the center.
