Former Saxon Headquarters Sold For $4.2M

By Brian Brus

The Journal Record

The former Saxon Publishing headquarters office building in Norman has sold for $4.2 million to local investment group NP Property One LLC, the Norman Economic Development Coalition announced.

The 66,000-square-foot building is expected to attract additional high-tech business interest to the Oklahoma Technology Corridor on state Highway 9, coalition Executive Director Don Wood said earlier.

"That's exactly what we're targeting," said selling broker Judy Hatfield, president of Equity Realty of Norman. "As a matter of fact, right now we're finalizing three leases for the building, all professional/technical offices, one of which is a move within Norman. The other two are new companies to Norman, and they're a perfect fit for the corridor."

Jim Austin, Tom Lange and John Lenochan of CBRE/Oklahoma were the listing brokers for Harcourt Publishing, the seller. Harcourt bought Saxon Publishing in July last year. The building has been vacant for about a year.

Hatfield said Equity Realty was already lining up leases for the Class-A space before the sale was finalized. Full-service lease rates are going for about $17.50 per square foot for contracts of less than 10,000 square feet.

Wood said the name of the building will be changed to One Corporate Centre.

Brian Brus reports on metro area government, finance, agriculture and other issues. You may reach him by phone at 278-2837 or by e-mail, brian.brus@journalrecord.com.