Mark Beffort, Roy Oliver Set to Buy City Place in Downtown Oklahoma City

By Chambers, Kelley | THE JOURNAL RECORD, September 2, 2008 | Go to article overview
Save to active project

Mark Beffort, Roy Oliver Set to Buy City Place in Downtown Oklahoma City


Chambers, Kelley, THE JOURNAL RECORD


A downtown Oklahoma City landmark will soon change hands, but the deed won't be traveling far.

Mark Beffort and Roy Oliver plan to purchase the 33-story City Place, at 204 N. Robinson Ave., as an investment. The deal is set to close in late September or early October for an undisclosed price.

The Oklahoma County assessor lists the market value of the building for 2008 at $5.5 million.

Beffort and Oliver are also part of the ownership group for the neighboring office buildings Leadership Square, Oklahoma Tower and Corporate Tower.

"We haven't bought it yet," Beffort said. "We like the asset (and) we believe the property complements, and doesn't compete, with our other product."

The tower is owned by Globe Life & Accident Insurance Co.

Beffort said his company, Grubb & Ellis Levy Beffort, will manage the building after the sale.

It was completed in 1931 in a race with the First National Tower across the street at 120 N. Robinson Ave.

Originally known as Ramsey Tower, after its first owner, oilman Walter R. Ramsey, the tower was completed about two months before First National and was one story taller.

Brett Hamm, president of Downtown OKC Inc., talked about the balancing act between local ownership and out-of-state ownership of downtown office buildings.

"Local ownership in these major office buildings in downtown is a positive because they have been directly involved in the market over the last 10 to 15 years and are significant contributors to continuing that momentum," he said.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

Mark Beffort, Roy Oliver Set to Buy City Place in Downtown Oklahoma City
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?