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Oneok buys headquarters site for $48 million

Pub Date：2008-04-14 00:00:00 Author: Click:8 Category: income

Oneok Inc. paid $48 million Thursday to buy back its headquarters, the 17-story Oneok Plaza building. Acquired from Southwestern Associates and RMZ Corp., that price includes $17 million in remaining lease payments through Sept. 30, 2009. Factoring that out reduces the square-foot price to $59.93. “That’s a little below the average for a Class A building but it’s still a good price,” said real estate analyst Darren Currin. He suggested part of that could reflect Oneok’s master lease position, which makes the sale somewhat unique.

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