October 4, 2022 1:00 PM
星空体育app下载 announces the sale of the Heartland Payment Systems Headquarters building, a newly constructed, 111,503-square-foot, Class A office building in downtown Oklahoma City, Oklahoma. The property is 100% net-leased to payment processing and technology provider Heartland Payment Systems. The asset traded from Real Capital Solutions to Syndicated Equities for $46.97 million. 星空体育app下载 Executive Managing Directors Ken Hedrick, SIOR and Jerry Hopkins, SIOR, Senior Managing Director D. Andrew Ragsdale and 星空体育app下载 Robinson Park Vice President Vickie Knotts represented the seller in the transaction. Senior Managing Director Kenneth Zakin provided support on the transaction.
鈥淲ith a long-term, absolute net lease to an investment grade tenant, this asset represented a prime investment opportunity,鈥� said Zakin. 鈥淎ccordingly, the offering generated significant investor interest from a variety of investment profiles.鈥�
Located at 616 North Broadway Avenue in the heart of downtown Oklahoma City, the property was built-to-suit for Heartland Payment Systems headquarters operations, completing construction in 2020. The seven-story building totals 111,503 square feet and is situated on a 0.68-acre lot. The property is proximate to numerous shopping, dining and entertainment amenities downtown as well as in the nearby Bricktown, Automobile Alley and Midtown districts.
Founded in 1997, Heartland Payment Systems is regarded as the pioneer of modern payment processing, delivering human tech across all payment solutions and support. Today, Heartland spans 13 locations across the country and ranks as the fifth-largest payment processor in the United States, processing over $80 Billion in credit card transactions annually serving over 750,000 companies. Heartland Payment Systems is a wholly owned subsidiary of the publicly traded company, Global Payments, Inc., which fully guarantees the lease.
鈥淥klahoma City has experienced tremendous population growth over the past ten years as the city鈥檚 economic development team has succeeded in diversifying the local economy, recruiting new companies and investing in the city鈥檚 infrastructure,鈥� said Hedrick. 鈥淭his transaction is a testament to the continued desirability of Oklahoma City as a business-friendly climate.鈥�
The office market in Oklahoma City has performed well in recent quarters, especially when compared to national performance throughout the pandemic. The Oklahoma City metro area has had several recent economic development wins, with Devon Energy, Boeing, Continental Resources, Skydweller Aero, and Costco announcing relocations and expansions. The trend is expected to continue as companies find the market鈥檚 pro-business environment and quality labor force are part of the region鈥檚 unique value proposition. The city expects over 1,500 new non-energy related jobs to be added to Oklahoma City in the next couple of years, further diversifying the employment base.
About Syndicated Equities
Syndicated Equities provides accredited investors and family offices with institutional quality commercial real estate investments. Since 1986, the firm has developed an expertise in co-investment ownership, 1031 and DST syndications, net lease brokerage services, and global real estate opportunity funds. To date, Syndicated has made over 100 investments representing over $600 million of equity and approximately $4 billion of total asset value.
About 星空体育app下载
星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. 星空体育app下载鈥檚 comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform鈥檚 global reach with market intelligence in both established and emerging property markets, 星空体育app下载 provides superior service to clients across the industry spectrum. 星空体育app下载 generated revenues of nearly $3.2 billion for the twelve months ending June 30, 2022. 星空体育app下载鈥檚 company-owned offices, together with its business partners, operate from approximately 170 offices with 6,500 professionals around the world. To learn more, visit nmrk.com or follow .
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