Major oil and gas firm Helmerich & Payne, Inc. announced this week big plans for development in another sector of its investments beyond oil and gas rigs.
The Tulsa-based company is also owner of the Utica Square shopping center, a 40-store development the company acquired in 1964 when Walt Helmerich signed the purchase agreement on behalf of Helmerich & Payne Inc. Three years later, his wife, Peggy, transitioned the first restaurant “The 1800” into “The Garden” and ran the eating establishment.
This week, Helmerich and Payne announced it had engaged Eastdil Secured, a national commercial brokerage firm, to explore future options for Utica Square.
“We are proud of our ownership of Utica Square since 1964 and are deeply grateful for Tulsa’s longstanding support,” said John Lindsay, president and CEO.
“At the same time, we are beginning to explore opportunities with a strategic partner or buyer that can take the Square into the future. This exercise is consistent with a larger companywide review of all our assets following the largest acquisition in our history and the timing is right for us to explore the future possibilities for this exceptional property.”