The Robinson Plaza building, home to the Oklahoma City operations of the Internal Revenue Service, sold this week to a California investment firm for $16.3 million.
The sales price for the 10-story building at 55 N Robinson is almost double the $8.3 million paid for it in 2010 by the seller, Newton, Mass.-based GPT properties.
County records show the buyer is Mid-South Redevelopers of Los Angeles. Mark Beffort, managing director, Grubb & Ellis|Levy Beffort, confirmed his firm was contracted by HAI Advisor, also based in Los Angeles, to oversee marketing and renovations of the property.
“It's their first acquisition here,” Beffort said. “It wasn't for sale. But it was definitely an arm's length transaction.”
The building was built for the IRS in 1992 and is immediately east of the new Devon Energy Center. Mid-South Redevelopers and HAI Advisors could not be reached for comment on Friday.
Beffort estimated the tower is about 85 percent leased, with major occupants including the IRS and Universal American, a health care company. He said lease negotiations were ongoing between the government tenants and the former owners, though he was uncertain of the status of those talks as he assumed management of the building on Wednesday.
“The goal is, as I understand it, with Class A office space downtown being full, is to get it to Class A, and lease it out,” Beffort said.