Office sales increase ‘heartbeat’ of Oklahoma City

Price Edwards & Co. said 15 office buildings totaling 2.4 million square feet changed hands for a combined $138 million. Several involved redevelopment projects, not just the usual rent return on multitenant investment.

BY RICHARD MIZE | Modified: January 23, 2013 at 10:31 pm | Published: January 24, 2013

If 2012 office sales in Oklahoma City lacked magnitude, they made up for it in novelty.

Some notable properties changed hands, and reuse and redevelopment were behind the deals, not just investment in income-producing property, according to Price Edwards & Co.

photo - First National Center, 120 N Robinson, is seen from City Place, next door at 204 N Robinson, in this photo. The 1 million-square-foot property changed hands again last year when another investor paid $5.3 million to buy it out of bankruptcy. PHOTO BY STEVE GOOCH, THE OKLAHOMAN ARCHIVES

First National Center, 120 N Robinson, is seen from City Place, next door at 204 N Robinson, in this photo. The 1 million-square-foot property changed hands again last year when another investor paid $5.3 million to buy it out of bankruptcy. PHOTO BY STEVE GOOCH, THE OKLAHOMAN ARCHIVES

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Price Edwards tracked 15 sales of buildings totaling 2,443,000 square feet for a combined $138 million, according to its year-end office market summary. The report, which recorded only buildings...
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