One Corporate Centre sells for $7.8 million
Pamela Grady
Oklahoma City Business News
Chickasaw Nation Industries Inc. paid $7.8 million for One Corporate Centre, 2600 John Saxon Blvd. near Highway 9 in Norman.
CNI purchased the 3-story 65,000-square-foot office building, which is situated on nearly 12.5 acres, and an additional three acres adjacent to the property from NP Property One LLC.
This time last year, NP Property One paid $4.2 million for the building, and in July 2004, Harcourt Publishing purchased the corporation and the property from Saxon Publishing for an undisclosed amount.
CNI is a corporation that is wholly owned by the tribe but operates outside of the tribe.
“Our economic development activities are quite different from what the tribe does,” said Deryl Wright, CNI president and chief executive officer. “We’re involved in government contracting, our primary business. We provide professional staffing and support contracts for the government that range from providing dentists to the military to helping human services with Medicare payment collections. We also have a construction entity that builds military barracks and housing.”
Wright said CNI has experienced a tremendous amount of growth over the past several years and occupies a number of facilities in Oklahoma City.
“The purpose of buying this building was to begin to consolidate our Oklahoma City operations so we can be more efficient at what we do,” he said.
CNI will occupy a majority of the building to house approximately 200 of its employees once renovations are complete. Attorney Stan Ward and Riskmetrics, who have long-term lease contracts in the building, will remain. Ward currently occupies approximately 5,000 square feet and Riskmetrics has 11,000 square feet.
“We’re obviously going to be working as the general contractor on this project. Our plans are to hire local people in the Norman area to do the work,” Wright said, adding that they have been working with the Oklahoma City-based architectural firm Rees and Associates for several months.
“Now that we’ve closed on the building, we’ll start on the permitting phase to renovate the interior,” he said. “We’ll have some folks move in immediately because of some new contracts and have everybody in there by spring 2007.”
Judy Hatfield, CCIM with Equity Commercial LLC, represented the seller, NP Property One, and Ed Martin with NAI Bob Sullivan Group represented CNI in the transaction.
Jennifer Johnson with Trustmark Title handled the closing. Bank of America handled financing on the deal.
Oklahoma City Business News
Chickasaw Nation Industries Inc. paid $7.8 million for One Corporate Centre, 2600 John Saxon Blvd. near Highway 9 in Norman.
CNI purchased the 3-story 65,000-square-foot office building, which is situated on nearly 12.5 acres, and an additional three acres adjacent to the property from NP Property One LLC.
This time last year, NP Property One paid $4.2 million for the building, and in July 2004, Harcourt Publishing purchased the corporation and the property from Saxon Publishing for an undisclosed amount.
CNI is a corporation that is wholly owned by the tribe but operates outside of the tribe.
“Our economic development activities are quite different from what the tribe does,” said Deryl Wright, CNI president and chief executive officer. “We’re involved in government contracting, our primary business. We provide professional staffing and support contracts for the government that range from providing dentists to the military to helping human services with Medicare payment collections. We also have a construction entity that builds military barracks and housing.”
Wright said CNI has experienced a tremendous amount of growth over the past several years and occupies a number of facilities in Oklahoma City.
“The purpose of buying this building was to begin to consolidate our Oklahoma City operations so we can be more efficient at what we do,” he said.
CNI will occupy a majority of the building to house approximately 200 of its employees once renovations are complete. Attorney Stan Ward and Riskmetrics, who have long-term lease contracts in the building, will remain. Ward currently occupies approximately 5,000 square feet and Riskmetrics has 11,000 square feet.
“We’re obviously going to be working as the general contractor on this project. Our plans are to hire local people in the Norman area to do the work,” Wright said, adding that they have been working with the Oklahoma City-based architectural firm Rees and Associates for several months.
“Now that we’ve closed on the building, we’ll start on the permitting phase to renovate the interior,” he said. “We’ll have some folks move in immediately because of some new contracts and have everybody in there by spring 2007.”
Judy Hatfield, CCIM with Equity Commercial LLC, represented the seller, NP Property One, and Ed Martin with NAI Bob Sullivan Group represented CNI in the transaction.
Jennifer Johnson with Trustmark Title handled the closing. Bank of America handled financing on the deal.
