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September 04, 2015 7:13 PM ET

Real Estate Management and Development

Company Overview of Kanbar Properties, Inc.

Company Overview

Kanbar Properties, Inc. owns, manages, and leases real estate properties in the United States. The company’s portfolio comprises office and retail properties. It also provides property management services to local owners in Oklahoma. The company was founded in 2007 and is based in Tulsa, Oklahoma.

15 East 5th Street

Suite 2400

Tulsa, OK 74103

United States

Founded in 2007

Phone:

918-581-3300

Fax:

918-587-2941

Key Executives for Kanbar Properties, Inc.

Head of Operations
General Counsel
Compensation as of Fiscal Year 2015.

Kanbar Properties, Inc. Key Developments

Judge Denies Kanbar Properties Motion to Dismiss First Place LLC Lawsuit

Kanbar Properties and First Place LLC failed in initial efforts to escape CB Richard Ellis of Oklahoma's breach-of-contract charges. Tulsa County District Court Judge Jefferson D. Sellers has denied their motion to dismiss a June 2 lawsuit by Commercial Realty LLC, which operates as CBRE. The case alleged that Kanbar and its affiliate broke an exclusive listing contract when it signed Tulsa-based One Gas to a long-term lease in the 41-story First Place Tower, 15 E. Fifth St. Sellers' order came three weeks after CBRE voluntarily dismissed the other two defendants in its lawsuit, Kanbar investors John and Stuart Price. The real estate brokerage initially claimed that the Prices interfered with the CBRE contract, which allegedly ran from Aug. 28, 2012, to Dec. 31, 2013. Kanbar announced the questioned lease was signed March 4, 2014, well after the CBRE contract expired. But CBRE said that ignored stipulations to pay certain commissions up to 120 days after the contract's end.

Kanbar Properties Seeks Dismissal of CBRE Lawsuit

Kanbar Properties asked Judge Jefferson D. Sellers to dismiss a breach-of-contract lawsuit by CB Richard Ellis of Oklahoma, claiming that a contested One Gas office lease was signed more than two months after the plaintiff's listing agreement expired. This Tulsa County District Court lawsuit pits one of Oklahoma's larger commercial real estate brokerages against downtown Tulsa's larger office space provider. CBRE, as Commercial Realty LLC, filed its case June 2 against Kanbar and affiliate First Place LLC, saying the defendants leased space to Tulsa-based One Gas in violation of their exclusive contract for leasing the 41-story First Place Tower. While CBRE admitted having no firm knowledge of the One Gas lease, according to the lawsuit that contract's size could involve 141,000 square feet, or almost two-thirds of Kanbar's property. Tulsa County assessor records estimate that the 15 E. Fifth St. tower contains 234,900 square feet of commercial space. By not having a role in that lease, CBRE estimated its possible financial loss at more than $1 million. That spurred the brokerage to file a lien against the tower. Kanbar sought dismissal of the case on June 26, claiming that the One Gas lease was signed March 4. That would date this lease after the CBRE representation contract expired on Dec. 31.

CB Richard Ellis/Oklahoma Sues Kanbar Properties

CB Richard Ellis/Oklahoma, representing the Tulsa and Oklahoma City offices of CB Richard Ellis, sued Kanbar Properties and the Prices in Tulsa County District Court earlier this week, alleging damages of more than $1 million. The suit alleges First Place LLC, the ownership entity of First Place Tower held by California inventor and philanthropist Maurice Kanbar, entered an agreement with CBRE in August 2012 that gave the real estate firm the exclusive right to lease. The suit claims that agreement was extended through December 31 of last year.

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