Northwest Oklahoma City’s Mayfair shopping center has a new owner and a new price tag: $17 million. The four-building neighborhood hub at the signalized intersection of Northwest 50th Street and May Avenue officially changed hands on March 12, capping off a multi-year repositioning that brought the property to full occupancy, as per The Journal Record.
Deal details
According to The Journal Record, the $17,000,000 sale closed March 12 and was brokered by Jason Little and Charles Lewis of SHOP Companies. The buyer, HREIF REIT 01, is an affiliate of Oklahoma City based Humphreys Capital. The Journal Record notes that the deal ranks as the largest retail-property transaction in Oklahoma so far in 2026 and the second-largest neighborhood shopping-center sale in Oklahoma City history. Marketing handled by SHOP Companies reportedly pulled in more than 205 unique buyer registrations and multiple offers from investors across the country.
Mayfair's makeover
The center traces its roots to a 1950 development by the Warr family and has since been repositioned into a Class A neighborhood property through extensive renovation work. Offering materials from SHOP Companies highlight like-new roof, HVAC and facade upgrades, along with a dense trade area and strong daytime population that helped draw in both national and regional retailers.
Ownership and recent work
Precor Realty Advisors bought Mayfair in 2020 and, under the direction of Caleb Hill, undertook a full-scale redevelopment that brought three existing buildings back to like-new condition and added a fourth building from the ground up in 2024, The Journal Record reports. Public records list the sellers as Mayfair HPR, LLC and HPR Investment Company, LLC, Precor affiliates that completed the repositioning before the sale.
Why investors lined up
HREIF REIT 01 is an affiliate of Humphreys Capital’s Humphreys Real Estate Income Fund, which, according to the fund’s materials, targets stabilized, income-producing assets with value-add potential. Broader market research shows institutional capital warming back up to Oklahoma City retail: CBRE’s mid-2025 retail report points to larger portfolio trades and steady food-and-beverage leasing that have helped draw more national investors into the market.
SHOP Companies lists Jason Little and Charles Lewis as the offering brokers and underscores the center’s anchors and recent quick-service additions, a combination that made Mayfair relatively straightforward to underwrite for an institutional buyer. The new ownership is expected to operate Mayfair as a stabilized income property, likely pursuing modest rent adjustments and targeted upgrades over the next few years to enhance returns.
