Tulsa, OK, 5 November 2019 – The Society of Exploration Geophysicists (SEG) is pleased to announce that it has sold the Geophysical Resource Center (GRC) in Tulsa, Oklahoma to League Capital, LLC. The property includes two buildings totaling 180,992 square feet of Class A office space and a nearly 12-acre campus. GRC 1, also known as the Cecil & Ida Green Tower, was built in 1984 and comprises 102,000 square feet. GRC 2 was completed in August of 2015 with a total of 78,992 square feet. The SEG Board of Directors made the decision to sell the property as part of the organization’s vision to expand current programs and invest in new global opportunities while furthering the mission of advancing applied geophysics. The SEG headquarters staff of 58 will remain at the location with the organization leasing almost 15,000 square feet of office space on the fifth floor of Cecil & Ida Green Tower.
“It became clear to the previous SEG Board of Directors that equity wrapped up in real estate could better serve the mission of our Society if available for timely strategic investment,” said Rick Miller, SEG Board of Directors President. “Access to these resources allows SEG to strengthen its global mission and do what it does better than any organization in the world – support, advance, and promote applied geophysics. This sale insures SEG’s significance to our science deep into the 21st century."