Overview
Goodwin Advisors, as Exclusive Advisor, is pleased to present to qualified investors an exceptional value-add opportunity to acquire Meridian Tower (“Meridian Tower,” “Property” or “Building”), a high-quality office tower prominently located along Interstate 44, in Tulsa Oklahoma’s prestigious South Central aka “South Tulsa” office submarket. The Property is 41% leased and comprised of a 10-story building totaling approximately 205,891 net rentable square feet with a parking ratio of 3.25:1.000, in a four-story structure.
Built in 1982 and renovated in 2013 - 2015, the concrete and reinforced steel structure features an attractive black, dual-paned glass curtain wall and a two-story, light-filled lobby. The Property’s two chillers were replaced in 2013 and the four tower elevators were fully modernized in 2023.
Meridian Tower is a Class A office building with significant upside potential through an aggressive leasing strategy at a new financial basis, all in a strategic location in the most dynamic suburban office market in Greater Tulsa.
Investment Highlights
Near-Term Upside Potential
- Quickly lease remaining vacancy with new financial basis and healthy market dynamics
- Leverage larger vacancies to attract anchor tenant(s) with signage rights
- Minimal capex needs based upon strong historical capital investment
Amenitzed Class A Suburban Office Tower
- Highly visible Class A Office Building with ease of access
- Fully equipped fitness center and building conference room
- Full-service deli onsite
- Proximate to a wide variety of restaurants, retail and hotels
Historical Capital Investment / Impactful Renovation Plan
- Nearly $1.7 Million invested since 2017 and $5.0 Million combined with prior ownership
- Major capital items addressed include: new chillers and modernized elevators
- Near-term capital enhancements to better position leasing and fuel occupancy and rental rate growth include renovation of the fitness center's locker rooms and older multi-tenant corridors
Central Location / Ease of Access
- Located along the Interstate 44 service road on the northern border of the “South Tulsa” office market
- Easy 15-minute drive to the Central Business District and less than 10 minutes to the Riverside Airport
- Adjacent to both the Midtown and South Tulsa residential neighborhoods which include some of the most expensive homes in Greater Tulsa
- Blocks from the Tulsa campus of University of Oklahoma (“OU”), the largest university in Oklahoma and one of the best ranked public schools in the nation
- 8-minute drive to the famous Southern Hills Country Club, one of the world’s top ranked golf courses and home to the US Open three times (1958, 1977, 2001) and five PGA championships (1970, 1982, 1994, 2007, 2022)
Tulsa – “T-Town”
- Vibrant business environment and headquarters to such companies as QuikTrip, BOK Financial, ONEOK and H&P
- Cost of living index that is well below the national average
- Local unemployment is also well below the national average
- Typically positioned as one of the best places to live and work in national rankings
- Home to local campuses of OU and OSU
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