Boulder Towers Sell for $32 Million

The 15-story Boulder Towers, 437 S. Boulder Ave., have been purchased by a group of investors, led by Gail Runnels for $32.25 million. The property was purchased from K/B Fund IV of Chicago.
The towers, which were constructed separately in 1960 (West Tower by Skelly Oil) and 1980 (East Tower by Getty Oil), currently stand as the tallest twin towers in the state of Oklahoma. The buildings, which have also been known by the name “Texaco Towers,” are listed as the 12th-tallest buildings in the city, and the 26th-tallest in the state.
The towers contain 521,000 rentable SF and are 93 percent occupied. The entire tower complex was sold by Texaco to K/B Fund IV in 1997 for $7.25 million, according to press reports.
Tulsa County Courthouse records show that the buyers of the property include 7912 E. 31st Court LLC, Southcor Developers LLC, Select Ventures LLC, A.S.P. Inc., JRH 31st Court LLC, Breeze Energy LLC, VJJF LLC, Deloris R. Taylor Revocable Trust, M.O.S. Inc., JMM 31st Court Inc., Cost Investments LLC and Boulder Towers LLC.
Current tenants in the Boulder Towers include Helmerich & Payne Inc., Mid-Continent Insurance, Blue Cross Blue Shield of Oklahoma, Scott & Goble Architects Inc. Ceja Corp. signed a lease for 17,673 SF of office space in the towers last spring.
Press reports also indicate that two of the local investors plan to move into the towers, including CB Richard Ellis/Oklahoma, who along with Cushman & Wakefield brokered the transaction.

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