Business roundup

Norman Board of Realtors to launch campaign

The Norman Board of Realtors will launch the "Good Thing You're in Norman" campaign aimed at easing the concerns of those living in the area as well as potential home buyers looking to relocate.

Borrowed from the state's "Good Thing You're in Oklahoma" ads, NBR President Maxine Bates said the new campaign is slated to be rolled out in the coming months.

"The Norman Board would like everyone in our area to understand that despite what is happening in the rest of the country, and the negativity being reported by the national media, Norman real estate is growing," Bates said. "Last year we experienced a 2 percent jump in homes values compared to the previous year and a 3 percent increase in total sales."

The local real estate market picked up last month after a slow start in 2008, which Bates said is probably due to the ice storm that devastated parts of Norman around the beginning of the year.

"April home values increased 8.3 percent over April of 2007," Bates said. "So, the market is picking up for spring."

Norman Dress Barn to start BYOB initiative

The Dress Barn women's clothing store, 1510 24th Ave. NW, recently announced its new "Bring Your Own Bag" initiative to benefit the Arbor Day Foundation.

Dress Barn District Sales Manager Shannon Saunders said the store is selling reusable bags for $2.25, with $1 going directly to the foundation, whose goal is to "inspire people to plant, nurture and celebrate trees."

"With this new initiative, we can plant more trees in our nation's forests while helping the environment and enhancing the beauty of nature," Saunders said. "We hope to heighten awareness with our customers and invite them to make changes that will help make the world a better place."

Dress Barn is a national chain operating more than 800 locations in 46 states. Dress Barn Inc., the store's parent company, also owns Maurices, which operates 650 stores in 43 states.

New Hilton Garden Inn to celebrate grand opening

The Hilton Garden Inn, 700 Copperfield Drive, will celebrate its grand opening 5 p.m. June 12.

Open since April 17, the hotel's "coming out" party will feature a ribbon cutting at 5:30 p.m. and a night of food and drinks at the hotel, located west of Interstate 35 between Robinson and Main Streets.

Shannon Sherrod, director of sales for the hotel, said the Garden Inn is a new brand in the Hilton organization created to compete with the Marriot's Courtyard.

"The hotel is designed with the business traveler in mind," Sherrod said. "It's meant to give them the amenities they have in their homes while traveling."

With room prices ranging mostly from $129 to $149, Sherrod said the hotel offers a workout facility, high speed Internet connections and room service on a limited basis.

Denver-based housing company purchases Lexington Crossing

Yes! Communities Inc., a Denver-based company that owns and operates more than 18,000 housing communities in 12 states, announced this past Wednesday the acquisition of Lexington Crossing in Norman, according to the firm's Chief Operating Officer Andrew Luter.

"Given the recent economic downturn and the fallout from the subprime mortgage crisis, we need affordable housing in Cleveland County now more than ever," Luter said. "Our company is committed to meeting this need with a positive housing experience and a 'yes' attitude, both for our existing as well as our prospective residents."

The manufactured home community near Norman North High School has more than 300 units, most of which are occupied, Luter said.

"Homes at Lexington Crossing range anywhere from $10,000 for a used home to $40,000 for a new one," Luter said.

Lot sells for $235,000

A commercial lot at 1018 24th Ave. NW was recently purchased for $235,000 by QOP Lot 2, LLC. The seller was SHV 1, LLC.

The transaction was handled by Eric C. Fleske, CCIM, Equity Commercial Realty LLC. Financing was provided by Republic Bank -- Trust Co. The buyer purchased the property for investment purposes.

-- Transcript Staff