Tenmark Holdings acquired a three-building, 802,628-square-foot industrial campus just west of Oklahoma City from Xerox in a $20 million sale-leaseback deal in a move expected to bring some new footholds to the area.
Xerox has leased back 227,596 square feet of space in Building 200 to continue its operations, with Tenmark Holdings, a Los Angeles-based real estate firm, investing about $12 million in renovating the remaining buildings into a modernized industrial space that will be available for lease. The deal earned a 2026 CoStar Impact Award, as judged by real estate professionals familiar with the market.
The upgrades are underway on the property that sits on a 120-acre site along Interstate 40 between Kilpatrick Turnpike and Mustang Road.
About the project: To convert the aging industrial hub into a sought-after space, the new owner invested millions of dollars in upgrades, which include the demolition of outdated lab and office areas, upgraded lighting, installation of a new fire suppression system, new office build-outs, a new dock and overhead doors, expanded truck court and additional parking.
What the judges said: CBRE's Stuart Graham said the size of the deal was impressive, and the sale-leaseback likely added to its complexity, with this further investment protecting the property's long-term value. First Fidelity Bancorp's Steve Hart said the scope of the project and associated renovations will be transformative.
They made it happen: JLL's Mark West along with Andrew Holder and Danny Rivera of Price Edwards & Co. represented Xerox. The buyer, Tenmark Holdings, was represented by Newmark Robinson Park's Brett Price, Kris Davis and Karley Harper. Newmark Robinson Park is expected to lease the new industrial space.