Sand Springs Acquires Additional 18-Acre Parcel From OmniTRAX Affiliate for Retail Development

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SAND SPRINGS, OK – Sheffield Crossing LLC, a managed affiliate of OmniTRAX, Inc., one of the largest privately held transportation service companies in North America and an affiliate of The Broe Group, is selling an 18-acre lot in its development site to the City of Sand Springs. Located southwest of downtown Sand Springs, the site will be used for retail development.

 

An OmniTRAX affiliate purchased the Sand Springs Railway Company (SS) and the adjacent 146-acre former steel mill site from Gerdau in 2014, and continues to develop the property for industrial, rail, and transportation/logistics uses. The original development agreement between the City of Sand Springs and OmniTRAX was approved in September 2016. In January 2017, OmniTRAX conveyed 10 acres of the site to the City for the construction of a public safety facility, which is slated to begin within the next 30 days.

 

“The City of Sand Springs is pleased with the continuing partnership with OmniTRAX, and we look forward to working together to spur job growth and bring development at this large, centrally located property within our City. The ability of the City to control a portion of the property for retailers is important as it allows us to reach out to those specific retailers needed for our citizens,” said Sand Springs Mayor Mike Burdge.

 

Engineering and design work has continued for the public safety facility and Morrow Road improvements; both projects will be under construction during 2018. Additionally, substantial demolition work continues at the site under the direction of OmniTRAX. Since the beginning of the project, the City and OmniTRAX have been in conversations with various companies to build a retail development along Highway 97.

 

“The partnership between the City of Sand Springs and OmniTRAX is a textbook example of how government and business can work together for their mutual success and the benefit of the community. We look forward to working with the city to pursue new opportunities in this growing market,” said Kevin Shuba, CEO of OmniTRAX, Inc.

 

OmniTRAX continues to redevelop the remaining 118 acres and expects to announce new projects in coming months as the demolition work concludes. The company also anticipates additional projects with the City of Sand Springs.

 

About OmniTRAX, Inc.

As one of North America’s largest private railroad and transportation management companies, OmniTRAX’s core capabilities range from providing management services to railroad and port companies and to intermodal and industrial switching operations. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at www.omnitrax.com.

 

About The Broe Group

The Broe Group, based in Denver, Colorado, is a diversified privately-owned enterprise with a multi-billion dollar asset base.  The Broe Group and its affiliates employ more than 1,000 people directly and provide employment for countless others through its Great Western Industrial Park in Northern Colorado. The Broe Group and its affiliates own and/or manage commercial real estate and other businesses across North America. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations, and is the 2nd largest operator of short-line railroads in the U.S. Its energy affiliate, Great Western Oil & Gas Company, is a top 10 driller in Colorado and among the top 100 drillers in the U.S. The Broe Group has multiple other investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, see www.broe.com.

 

Ronald Margulis

RAM Communications

+1 908.272.3930

ron@rampr.com

 

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