Property developers Jon, Nathan and Bruce Odle have purchased the property where Bengals Bar & Grill and Casablanca Mediterranean Grill currently sit.
Jack and Julie Rader sold the lot on Sixth St. to the Odles, who were operating as "6th and Elm LLC" in the official transaction. Currently, the amount of the sale is unknown. According to an April 2 deed of trust, the Odles borrowed $3.3 million through the Landmark Bank.
KBIA contacted Dan Rader, co-manager of Bengals Bar & Grill, for comment. In an e-mail, he said the Odles have no plans to change the property in the immediate future.
The Odle family also owns and manages the Brookside student housing development company.
“We have a strong business there we want to continue and (the Odle family) wanted to make sure no other group bought the land,” Rader said. “In a few years, Bengals may move to a different location downtown, and I believe the Odles do not intend to use the site for student housing.”
The property transaction between the Odle family and the Rader family is the second this month. On April 1, the two families announced their partnership through their joint venture MacAlester Park LLC in developing Shakespeare’s Pizza on Ninth St. into a multistory building.