Although Tulsa is not a typical target for the Newport Beach,CA-based buyer, Bill Rogalla, KBS' senior vice president andacquisitions director, acknowledges the time was right for the buydue, in part, to the energy-driven market and the asset's locationon 3.2 acres at 5100 E. Skelly Dr. "We liked the asset's locationand liked the diverse tenant roster," says Rogalla, who providedin-house representation during the transaction. "We felt it was agood opportunity to participate in what is a strong market rightnow."

Another appealing feature was the lease rollover, which averagesabout 10% per year for the next four years, Rogalla tellsGlobeSt.com. He adds that, given the 27-tenant roster, there are noconcerns about a major tenant leaving behind a huge chunk of spacein the 93%-leased, 10-story building.

The lead tenant is Matrix Services Co., which has about 20% ofthe building. Other tenants include Tulsa Dental Specialties, RamEnergy Resources Inc., TMA Systems LLC and Enercon ServicesInc.