Cherokee Nation Businesses buys office building in Tulsa
Cherokee Nation Businesses’ recentlypurchased office building is located at 10838 E. Marshall St., in Tulsa, Okla.PHOTO BY CN COMMUNICATIONS
TULSA, Okla. – After working for years at different locations, Cherokee Nation Businesses’ companies will finally work together under the same roof thanks to CNB authorities purchasing an office building in the city.
“Right now we have employees that are in various sites around Tulsa, so it makes sense for us to consolidate to one place and have it as our own,” Cherokee Nation Communications Officer Mike Miller said.
The building contains 76,000 square feet and is at the northeast corner of Highway 169 and Interstate 244 intersection. Located at 10838 E. Marshall St., the building is within the tribe’s jurisdictional boundaries.
According to Tulsa County records, the purchase was finalized July 23 for approximately $712,500.
Miller said funds used for the purchase were part of CNB’s capital budget and would reduce overhead costs and increase efficiency. The purchase is also expected to eliminate third-party leases, increase cooperation among CNB’s growing portfolio of businesses and better leverage shared resources and services, CNB officials said.
“Our businesses can work together a lot easier if they actually are together and it allows us to save money over time because we’re not using or renting space from other people,” Miller said.
Officials also said the move would allow CNB companies to share ideas and assist one another to be more competitive.
CNB entities such as Cherokee CRC, Cherokee Services Group/ITX and Cherokee Nation Security and Safety, along with outside businesses leasing office space, will occupy the building.
Miller said one outside business, Pregis Intellipak Corp., has signed a four-year lease with CNB, but did not disclose the lease terms.
The consolidation is a step toward fulfilling the goals outlined by the Jobs Growth Act, passed by the Tribal Council in 2005, according to a news release. It calls for a unified and streamlined approach to investing revenues generated by CN-owned companies.
“The Jobs Growth Act has been instrumental in guiding the way we operate our companies and reinvest the profits from Cherokee Nation-owned companies,” CNB CEO David Stewart said. “One of the most important components of the Jobs Growth Act is the consolidation of many of our business units under one roof in order to make our processes more efficient.”
The building is a mixture of warehouse and office space. Renovations will begin in the upcoming months and employees can expect to move into the building the first of the year, officials said.
Specific details on renovations have not yet been determined.