Unit Corp. sells Tulsa HQ to Transformation Church
TULSA — Energy firm Unit Corp. has sold its corporate headquarters to a church, but will stay as a tenant in a deal handled by office brokers with Oklahoma City’s Newmark Robinson Park.
The sale fetched $35 million for the six-story, 196,350-square-foot building at 8200 S Unit Drive, which Unit developed in 2016. Brokers Rick Guild, Dilon Argo and Brad Rice negotiated the deal.
The sale allowed Unit to pay off debt, giving it additional liquidity and strengthening its financial position, said Philip B. Smith, chairman and CEO.
The buyer was Transformation Church, which has purchased other properties since husband-and-wife lead pastors Michael and Natalie Todd took over the church’s operation in 2015 from founder Bishop Gary McIntosh, who was pastor for 15 years.
The church bought empty Spirit Bank Event Center at 10441 S Regal Blvd. for $10.5 million in August 2019. In 2020, it bought PostRock Plaza retail center at 10438 S 82nd E Ave., which surrounds the event center, for $20.5 million.
The church moved into the event center but was running short on office space for administrative staff, Guild said.
“This sale positions the church for continued growth in south Tulsa and provides Unit Corp. the opportunity to retain two floors of office space,” Guild said. “It was a win-win for both sides of this deal.”
Price Edwards & Co. reports:
• Integris Health Inc. renewed a lease for 19,000 square feet of office space in One Corporate Plaza at 3525 NW 56. Craig Tucker handled the transaction.
• ILT LLC leased 25,000 square feet of industrial space at 1421 SE 29. Mark Patton and Cody Beat handled the transaction.
• Works by Joe leased 452 square feet of retail space in Sentinel at 1130 N Harvey Ave. Allison Barta Bailey handled the transaction.
• Erie Construction LLC leased 5,000 square feet of space at 7002 Broadway Extension. Girma Moaning handled the transaction.
• ZQS INC leased 3,309 square feet of office space at 900 NW 139 Parkway. Girma Moaning handled the transaction.
• Tuesday Morning renewed a lease for 21,051 square feet of retail space in Uptown Plaza at 7511 SE 15 in Midwest City. Karleen Krywucki handled the transaction.
• Gold Eagle Construction & Roofing Inc. leased 5,688 square feet of industrial space at 6750 Melrose Lane. Chris Roberts and Aaron Diehl handled the transaction.
• Vaude Lashes LLC leased 2040 square feet of office space at 430 W Wilshire Blvd. Tom Fields handled the transaction.