Smith Farms Retail Development 2
Owasso, OK (Tulsa MSA)
Property Snapshot | Retail development at 96th Street North & Garnett Road in Owasso, OK 1.493-acre site in a high-growth Tulsa MSA corridor Ground lease + build-to-suit quick-service retail project
Closed: October 20, 2022 | Sold: December 30, 2025
Smith Farm Retail 2 was a retail development project located at the southeast corner of 96th Street North and North Garnett Road in Owasso, Oklahoma, within the Tulsa MSA. The site sits along one of Owasso’s primary growth corridors, surrounded by expanding residential development and increasing retail demand.
The Criterion Fund partnered with The Retail Partners to acquire 1.493 acres and execute a structured retail development strategy. The project included a long-term ground lease with Taco Casa and a build-to-suit development for Pickleman’s Gourmet Café, delivering two quick-service restaurant concepts positioned to serve daily traffic along this growing commercial corridor.
This investment demonstrates Criterion’s approach to retail real estate development: strategic site selection in high-growth suburban markets, disciplined underwriting, structured ground leases, and tenant-focused build-to-suit execution. The project was successfully completed and sold as a full-cycle retail investment, reflecting execution from acquisition through development and disposition.
Criterion continues to pursue similar ground lease, net lease, and build-to-suit retail development opportunities in strong growth markets.