Real Capital Solutions Sells Oklahoma Office Asset for $47M

616 N. Broadway Ave. Image courtesy of Newmark

Real Capital Solutions has sold the Heartland Payment Systems’ headquarters, an 111,503-square-foot office building in downtown Oklahoma City, for $47 million. Newmark worked on behalf of the seller, while Syndicated Equities was the buyer. The Class A property previously traded in 2020, when the current seller purchased it for $40.8 million, CommercialEdge data shows.

Located at 616 N. Broadway Ave., the asset is a build-to-suit facility for Heartland Payment Systems, the subsidiary of Global Payments Inc. Still the sole occupant of the seven-story property, Heartland net-leases the building that dates back to 2020 and includes first-floor retail space.

The property is situated between Automobile Alley and Bricktown districts, close to Interstate 235 and Highway 77, offering access to various dining and shopping availabilities.

Newmark Executive Managing Directors Ken Hedrick and Jerry Hopkins, Vice President Vickie Knotts and Senior Managing Director Andrew Ragsdale worked on behalf of the seller, while Senior Managing Director Andrew Ragsdale provided assistance during the negotiations.

Oklahoma City offers a business-friendly environment with a diverse local economy, and has experienced good population growth for the past decade, said Hedrick, in prepared remarks. The metro has attracted corporate relocations and expansions, involving companies such as Boeing, Continental Resources, Devon Energy or Skydweller Aero, according to Newmark.