Boeing OKC campus sold for $124m

Boeing OKC campus sold for $124m
Boeing OKC campus

Gardner Tanenbaum Holdings (GTH) has sold the Boeing Oklahoma City campus for $124,7 million to OKC Aerospace 1, LLC, the California based investor, according to an announcement by Richard Tanenbaum, CEO of Gardner Tanenbaum Holdings (GTH).

Boeing OKC campus comprises three office buildings and is located directly west of Tinker Air Force Base and 10 miles southeast of downtown Oklahoma City’s Central Business District.

The buildings currently accommodate more than 3,155 Boeing employees and contractors who work with Tinker Air Force Base personnel performing support and modernization programs for U.S. defense aircraft.

After purchasing the 33.25 acres, GTH invested in developing three buildings specifically for Boeing in 2007, 2011 and 2012.

“GTH has developed more than one million square feet of aerospace real estate in Oklahoma,” said Tanenbaum.

“I continue to anticipate a bright horizon for the Oklahoma aerospace industry. Substantial investments from the west coast, such as this transaction, show that the nation is taking notice of the aerospace industry’s dynamic growth in our state,” he added.

“The Boeing OKC campus is the fastest growing Boeing site in the United States throughout the past five years. With the $14.3 billion contract awarded by The Department of Defense for Boeing to service US Air Force aircraft and the first of 14 maintenance hangars for Boeing’s KC-46 Pegasus nearing completion, Boeing’s Oklahoma City workforce will continue to rise,” said senior vice president of Newmark Grubb Levy Strange Beffort, Brett Price.

Mark Beffort and Brett Price, as part of the Newmark Grubb Levy Strange Beffort brokerage team, represented the buyer and seller for this transaction. The OKC Boeing campus is located at 6001 S. Air Depot Road in Oklahoma City.

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View source version on: PR Newswire