Boeing OKC gets new landlord

  • Post category:Aerospace

An investor group from California has bought more than 30 acres and three buildings used by The Boeing Company near Tinker Air Force Base.

OKC Aerospace 1 LLC paid $124,735,000 to acquire the property from its original developer, Gardner Tanenbaum Holdings. The buyers’ company is registered in Delaware, but no other identifying information is available in public records.

The newly formed company, however, appears to be linked to Michael J. Schau and Tenmark Industrial LLC, which owns several industrial parcels in Tulsa County. News reports from 2015 showed Tenmark paid $22.5 million for nearly 50 acres worth of properties.

Schau, who lives in California, couldn’t be immediately reached Tuesday.

CEO Dick Tanenbaum declined to name the buyer or reveal how much money he’s invested in the property over the past two decades, but said he “did extremely well” when the deal closed Tuesday.

The transaction was by Mark Beffort and Brett Price as part of the Newmark Grubb Levy Strange Beffort brokerage team.

The buildings are part of the Boeing OKC campus just outside the Air Force Base. The vast majority of work performed at the facility is engineering for the company’s defense portfolio.

Tanenbaum said he worked closely with Boeing when constructing the buildings in 2007, 2011 and 2012. It wasn’t the typical landlord-tenant relationship, he said; it was more challenging.

“They are very specific about their needs,” he said. “This was much more of a partnership regarding the design and all the quality of the construction and what went into the building in order for them to satisfy their Department of Defense contracts.”

Boeing OKC did not comment on the acquisition.

Tanenbaum first bought 160 acres at the corner of SE 59 Street and Air Depot Boulevard almost 20 years ago. Other parcels of land he’s developed there includes buildings for Northrop Grumman and other defense contractors.

Gardner Tanenbaum Holdings, or GTH, has developed more than 1 million square feet of aerospace real estate in Oklahoma, including the Field Hangar Complex at Will Rogers World Airport. The developer also has multifamily residential units and an office park near the Boeing campus.

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