An affiliate of Group RMC, a New York-based real estate co-investment group, recently bought nine buildings totaling more than 1 million square feet in Tulsa, commercial real estate company CBRE has announced.
It marks Group RMC’s first entry into the Tulsa market. Paradigm Realty Advisors sold eight of the nine buildings, whose purchase prices weren’t disclosed.
“This portfolio acquisition marks a huge transfer of property for the Tulsa markets,” Carrie Claiborne, an associate at CBRE, said in a statement.
It’s rare that over a million square feet of office space changes hands in a market the size of Tulsa.
“An investment like this from an international firm like Group RMC demonstrates an extreme confidence in the strength of the Tulsa office market.”
The buildings purchased were Towne Center, 10810 E. 45th St.; Exchange Tower, 4500 S. Garnett Road; Triad I, 7666 E. 61st St.; Two Memorial Place, 8023 E. 63rd Place; Corporate Place, 5800 E. Skelly Drive; Commerce Tower, 5801 E. 41st St.; 51 Yale Building, 5110 S. Yale Ave.; Riverbridge Office, 1323 E. 71st St.; and Three Memorial Place, 7615 E. 63rd Place.
CBRE has been retained to handle all of the leasing and management of the portfolio. Mary Martin and Claiborne are marketing the available spaces for lease.
Formerly with Paradigm Realty Advisors, Claiborne joined CBRE as part of the Group RMC acquisition to continue managing the marketing and leasing of the properties.
In addition, 15 employees were retained from the former owners by CBRE.
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