Linn Energy office building sells to EOG Resources Inc.
Linn Energy office building sells to EOG Resources
The vacant Linn Energy office building at 14701 Quail Springs Parkway has sold to EOG Resources Inc. in a $21,392,500 transaction by Cushman & Wakefield-Commercial Oklahoma.
Barry Murphy represented the seller, Riviera Operating LLC, and Allan Meadors represented the buyer, which is vacating its space at in IBC Center, 3817 Northwest Expressway. Houston-based Linn Energy LLC built the 108,000-square-foot building in 2015, and field for bankruptcy the next year. Among the last tenants was ROAN Resources.
Insurance Department completes new building
The Oklahoma Insurance Department celebrated the completion of its new office building at 400 NE 50 this week.
The 32,500-square-foot building is the state agency's first stand-alone space. The department owns the building, estimated by the city to cost $6.5 million, but is leasing the land from the state Commissioners of the Land Office, which manages lands and funds to support public education. Through lease payments, $3.7 million will go to education over a 55-year lease.
Folds of Honor expands headquarters
Folds of Honor, a nonprofit that provides educational scholarships to spouses and children of fallen and disabled veterans, is expanding its national headquarters with a new operations building at Patriot Golf Club, in partnership with Associated Builders & Contractors of Oklahoma.
“We are beyond excited and blessed with our ongoing partnership with ABC OK and all the contractors they represent," said Lt. Col. Dan Rooney, CEO and founder of Folds of Honor. "Folds of Honor could not serve our deserving military families without the commitment and support we receive from ABC Oklahoma. They provided our outstanding headquarters building 10 years ago and are blessing us again with this incredible new building, which will no doubt serve us well into the future as we continue to grow our mission.”
Since its inception, Folds of Honor has raised nearly $120 million for scholarships.
“Over a decade ago, ABC of Oklahoma adopted the dream Lt. Col. Dan Rooney had for the Folds of Honor, and because of the generous and selfless teamwork of our members, we were able to donate all of the labor and materials needed to construct the original Folds of Honor headquarters,” said John Smaligo, president and CEO of ABC of Oklahoma. “Today, still standing united, ABC of Oklahoma is ready to construct this building in support of the soldiers and their families, who have sacrificed so much for our country. ABC is proud to partner with the Folds of Honor in this monumental endeavor.”
Rooney is a PGA member and F-16 fighter pilot stationed at Tyndall Air Force Base, Florida, as a member of the 301st Fighter Squadron and served three tours of duty in Iraq. Folds of Honor has awarded more than 24,500 scholarships in all 50 states, Guam, Puerto Rico and the Virgin Islands. For more information, go to www.foldsofhonor.org.