Citizen Potawatomi Nation buys OKC's Union Plaza with aims to reflect cultural integrity

Richard Mize, The Oklahoman
Citizen Potawatomi Nation has purchased Union Plaza, an 18-story office tower at 3030 Northwest Expressway, home of CPN-owned Sovereign Bank’s retail branch and operations center, in a transaction by Newmark Robinson Park.
Citizen Potawatomi Nation has purchased Union Plaza, an 18-story office tower at 3030 Northwest Expressway, home of CPN-owned Sovereign Bank’s retail branch and operations center, in a transaction by Newmark Robinson Park.

Citizen Potawatomi Nation has purchased 18-story Union Plaza, a 250,000-square-foot office building at 3030 Northwest Expressway, home to CPN-owned Sovereign Bank's retail branch and Oklahoma City operations center.

CPN said it paid $27 million for the Class-A property, built in 1982-83. The seller, represented by Vicki Knotts of brokerage Newmark Robinson Park, was Real Capital Solutions in Louisville, Colorado, which paid $21.8 million for it in October 2019, according to county records.

Real Capital Solutions still owns the Heartland Payment Systems headquarters at 616 N Broadway Ave. and previously owned office buildings in Norman and Lawton.

CPN, based in Shawnee, called Union Plaza "a cornerstone of the Oklahoma City landscape" that will "serve as a beacon for Sovereign Bank’s expansion." CPN also has branches in Midwest City, Lawton, Holdenville, Granite, Mangum, Canute, and a loan production office in Edmond.

Sovereign Bank, known as First National Bank & Trust Co. until rebranding last April, also bought land nearby for expansion. The country's largest tribally owned bank already said it needed more space after a 2021 merger with The First State Bank. Its assets stand at more than $900 million.

“Bringing local ownership to the building marks a pivotal moment in our commitment to the growth and prosperity of Oklahoma City. This acquisition underscores CPN’s belief in the potential of the metro as a dynamic hub for economic and cultural development,” said Chairman John “Rocky” Barrett Jr.

CPN said acquiring Union Plaza will help it make sure the property "reflects the cultural integrity" of the Citizen Potawatomi Nation.

“Sovereign Bank’s mission is to empower our communities with the 'Freedom to Dream.' We are driven by putting our communities first, and by giving customers unmatched personal service in a location that is tailored to them,” said Bryan Cain, the bank's CEO.

Price Edwards & Co. reports these commercial real estate transactions

  • Leonard, Long & Cassil PLLC leased 4,676 square feet of office space in Possum Creek at 6301 N Western Ave. Craig Tucker handled the transaction.

  • Hendrick, Casey & Hutter PLLC leased 3,854 square feet of office space at 428 Dean A. McGee Ave. Tom Fields handled the transaction.

  • J. Gerald Knol CPA leased 2,075 square feet of office space in McCasland Memorial Office Park at 510 E Memorial Road. Fields handled the transaction.

  • Volution Mineral Co. leased 1,600 square feet of office space at 301 Lilac, Edmond. Fields handled the transaction.

  • Walter P. Moore leased 1,544 square feet of office space in Boulevard at 525 NW 11. Allison Barta Bailey handled the transaction.

  • Stretch Zone leased 1,480 square feet of retail space in Chatenay Square at 10600 S Pennsylvania Ave. Jacob Simon and Aaron Diehl handled the transaction.

  • Prime Nutrition renewed a lease for 1,200 square feet of retail space in Southpointe Plaza at 904 Straka Terrace. Rosha Wood handled the transaction.

  • Healthcrest Surgical Partners leased 1,108 square feet of space in Fisher Hall at 3540 S Boulevard, Edmond. Fields handled the transaction.

  • Blakley Law PLLC leased 804 square feet of office space in Possum Creek at 6301 N Western Ave. Tucker handled the transaction.

This article originally appeared on Oklahoman: Citizen Potawatomi Nation buys Union Plaza, home of its Sovereign Bank

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