IBC Bank-Oklahoma has bought the Caliber Center, the office building it has been leasing from Chesapeake Energy Corp., for an as-yet undisclosed amount.
The 10-story, Class A building at 3817 Northwest Expressway — known as Hertz Financial Center for more than a decade, even after Hertz Corp. moved in 2002 — will continue to house IBC Bank's Oklahoma headquarters.
Hertz sold the building, constructed in 1976, to Caliber Development, led by Jade Noles, in 2007 for $20 million. Caliber spent $5 million to upgrade the building.
Chesapeake Energy bought it just more than a year ago, paying $38.2 million. The Oklahoma County assessor estimated its market value at $30.2 million last March.
The 280,000-square-foot, glass exterior, multitenant building has an underground parking garage and surface parking, with banking services on the ground level, including a four-bay drive-thru, and offices on the second floor.
“Since entering the Oklahoma market in 2004, IBC Bank has invested more than $75 million in new branches and fixed assets in the Sooner State,” said Tom Travis, president and CEO of IBC Bank-Oklahoma. “Our multimillion-dollar investment in this state-of-the-art building tangibly demonstrates IBC Bank's continued deep commitment to its Oklahoma operations and to providing superior customer service in a modern, welcoming environment.”