Warren Place buildings under new management
BY ROBERT EVATT World Staff Writer
Thursday, December 27, 2012
12/27/12 at 3:02 AM
A real estate acquisition and management company from Santa Fe, N.M., has taken over the ground lease for One and Two Warren Place, two of metro Tulsa's largest office structures outside of downtown.
Rosemont Realty assumed the lease from Parmenter Realty Partners of Tulsa and now manages both office buildings, said Jeanne Hasenmiller, a spokeswoman for the company.
The price of the transaction was not disclosed.
The property continues to be owned by William K. Warren Medical Research Center Inc., Tulsa County land records indicate. The ground lease was established in 1981 and has a term of 99 years, Hasenmiller said.
The 20-story, 466,424-square-foot One Warren Place was built in 1983, followed by the 19-story, 487,085-square-foot Two Warren Place in 1987. Both structures were originally built by MetLife, Hasenmiller said.
Notable tenants of One Warren Place include BHP Billiton, QEP Resources and Linde Process Plants Inc. Two Warren Place's key tenants include the Apache Corp., DCP Midstream, SM Energy Co. and Explorer Pipeline.
One Warren Place has an estimated taxable value of $33.41 million, while Two Warren Place has a taxable value of $35.62 million.
The two buildings are the first Tulsa properties controlled by Rosemont Realty. CEO Daniel Burrell said in a news release that Warren Place's regional proximity to Rosemont's other properties was a factor in the lease purchase.
"With its high concentration of oil and gas tenants, and the overall positive long-term fundamentals of those industries in Tulsa, One and Two Warren Place provide a nice complement to Rosemont's Houston and Dallas portfolios," he said.
Rosemont holds approximately 16 million square feet in more than 165 office buildings in 25 states, with a total valuation of more than $1.5 billion. The company has acquired more than 4 million square feet of office space valued at more than $500 million during the past 12 months.
Original Print Headline: Warren Place gets new manager
Robert Evatt 918-581-8447