TULSA-Oneok Inc.’s recent buy of the 517,235-sf class A office building underlines growing interest in the CBD. Area experts point out that the $48-million transaction puts the energy company in possession of its headquarters building while adding to other activity in the market.

Oneok, which has been in the building at 100 W. 5th St. since it opened in 1984, acquired the asset from Blacksburg, VA-based Southwestern Associates Inc. and RMZ Corp. of Bangalore, India through a direct deal. The price included about $17 million for an existing lease that will expire in September 2009. Oneok occupies more than 50% of the structure. The remainder is leased by smaller tenants, including several law firms.

Steven Baker, senior associate in the Tulsa office of CB Richard Ellis, says Oneok has owned the adjacent parking lot and plaza for awhile. “The building itself has been well cared for,” he says. “Since Oneok occupies 50% of it, they’ve made a point to take care of it.”

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