Smith Farms Retail Development 1
Owasso, OK (Tulsa MSA)

Property Snapshot | 2.08-acre retail development at 96th Street North & Garnett Road. 10,443 SF multi-tenant strip center + single-tenant ground lease. National and regional quick-service and service-oriented tenants

Closed: December 16, 2022 | Sold: October 2, 2025

Smith Farm Retail was a ground-up retail development located at the intersection of 96th Street North and North Garnett Road in Owasso, Oklahoma, within the Tulsa MSA. Positioned along one of Owasso’s primary growth corridors, the site benefits from expanding residential density and sustained retail demand.

The Criterion Fund partnered with The Retail Partners to acquire 2.08 acres and execute a structured retail development strategy. The project included a ground lease with Salad and Go and the construction of a 10,443-square-foot strip center anchored by Cava, Floyd’s 99 Barbershop, Supplement Superstore, Ulux Nails, and Pei Wei.

Following completion of the Salad and Go outparcel, the property was sold to reduce project leverage while the remaining strip center was delivered and stabilized. The center was subsequently sold on October 2, 2025, completing the full-cycle retail development.

This project reflects Criterion’s retail development approach: strategic land acquisition in high-growth suburban corridors, structured ground leases with national tenants, multi-tenant strip construction, and disciplined execution from development through disposition.

Criterion continues to pursue similar ground lease, net lease, and multi-tenant retail development opportunities in strong growth markets.