Teemco Backs Out Of OKC Gold Dome Deal, New Buyer To Develop Property

There is new information in the continuing saga of the Gold Dome. News 9 learned that it is now under contract with a new buyer.

Tuesday, March 31st 2015, 6:17 pm



There is new information in the continuing saga of the Gold Dome. News 9 learned that it is now under contract with a new buyer. The Gold Dome went back up for sale after Teemco backed out of a deal to buy the building earlier this month.

In June of 2012 Teemco announced they were going to renovate the Gold Dome and make it its corporate headquarters. Teemco's CEO said they refinished the roof and did some work on the wiring and plumbing. In mid-February of this year, a spokesperson for Teemco said they were getting ready to move in. But a month later it was back on the market.

“Due to the change in the economy for us, oil prices were down, 2014 was the first year we had a decline in revenue. It was a very tough year for us,” said Teemco CEO Greg Lorson. “So we tightened our belt and trimmed our expenses and we just don't have the number of people in 2013 so we really don't need that space anymore. It kind of breaks our heart because we were really looking forward to moving in, but it's just not a good business decision anymore.”

3/14/2014 Related Story: Future Of Historic Gold Dome Uncertain

The Gold Dome fell back into the hands of developer David Box.

“We had several offers within the first week, lots of interest,” said Tommy Garrison. He's been heading up the project to find a new buyer and said before they could even get the for sale signs up, it was back under contract. Garrison wouldn't say who the buyer is. “Our conversations is [sic] it's a local developer and that's their plan to develop the property.”

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