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The Bartlesville Development Authority (BDA) approves a proposal to purchase a 6,000 square foot industrial building from Grassroots Properties, LLC.

BDA President David Wood says they are always looking to improve their real estate position, particularly when it is in the Bartlesville Industrial Park. Wood says the asking price was $365,000, but the BDA has offered $360,000. He says an appraisal shows that the price is well supported based off current prospect activity.

Wood says the reasonable expectation is that the BDA will be able to lease the property within the next six months. He says it will be a rather inexpensive property to maintain in a vacant state in inventory for the next prospect that comes along if they are not able to fill the space within that six month time frame.

Board Trustee Gayle Lester says she saw no downside of the BDA acquiring the facility in the Industrial Park. Lester says there will always be opportunities for them to need a building of different sizes. She says there is good value in obtaining the property.

BDA Secretary Jamie Bennett says the property is of good value in that it would be attractive to any prospect that may be looking. Bennett says the facility is already built in the Industrial Park, which makes the space more desirable.

Grassroots Properties, LLC, has operated as a lawn care facility at 1341 International Drive in Bartlesville for the last 12 to 15 years.