Oklahoma City, OK — Bain Capital Real Estate and 11North Partners have announced the joint acquisition of a premier portfolio of three open-air lifestyle retail centers in Oklahoma City for approximately $212 million, marking a major investment in one of the city’s most dynamic retail corridors.
The newly acquired portfolio includes Nichols Hills Plaza, Classen Curve, and The Triangle at Classen Curve, all located in the upscale Nichols Hills submarket. Together, the properties span nearly 40 acres and boast occupancy rates exceeding 97%, anchored by national retail powerhouses Whole Foods and Trader Joe’s, along with over 50 unique-to-market brands such as Lululemon, Sephora, Anthropologie, and Warby Parker.
The acquisition was made through a strategic joint venture formed in 2024 between Bain Capital Real Estate and 11North Partners, a retail-focused investment platform led by industry veteran Brian Harper. The venture is focused on acquiring and enhancing open-air retail centers across the U.S. and Canada that are centered on convenience, community, and necessity-based retail.
“This is a compelling time to invest in open-air retail,” said Brian Harper, Managing Partner at 11North. “These properties are not just well-leased—they’re dominant lifestyle destinations in the region. Our platform’s deep retail expertise and strong industry relationships allow us to identify and elevate assets like these.”
Strategically positioned near Integris Baptist Medical Center and Chesapeake Energy’s headquarters, the centers benefit from both high traffic and superior local demographics. The area is one of Oklahoma’s most affluent, driving strong retail sales and consistent tenant demand.
“This acquisition aligns perfectly with our investment strategy,” added Martha Kelley, Managing Director at Bain Capital Real Estate. “We’re focused on high-quality, well-located retail properties that are essential to daily life. Together with 11North, we’re building a powerful platform to capture long-term value in this resilient asset class.”
The transaction underscores a growing investor confidence in open-air retail centers, which have demonstrated strong performance and tenant demand post-pandemic, especially in markets with stable population growth and solid economic fundamentals.
