New ownership plans a ground-floor restaurant, a premium fitness club, and a restored street presence at 601 South Boulder

TULSA, Okla., Sept. 28, 2026 /PRNewswire/ -- The Price Family and Wichita-based Kismet Stratton Investments LLC today announced the sale of the Petroleum Club Building™ at 601 South Boulder Avenue. The building was acquired by KS Petroleum Club LLC, a Kismet Stratton affiliate.

The 16-story, 119,236-square-foot tower is a contributing structure in the Oil Capital Historic District and has stood at the corner of Sixth and Boulder since 1963, built to house the Petroleum Club of Tulsa on its upper floors.

"The Petroleum Club Building has been part of our downtown portfolio and the city's history for a long time, and we wanted to make sure it was in the right hands," said Stuart Price of Price Family Properties. "We were inspired by the vision of Kyle and his team. Not only do they have a real plan for this iconic building, but they also have the energy, commitment, and resources to bring that vision to life. We are proud of the role we have played in the Petroleum Club Building's history and excited to see Kyle and his team write its next chapter. Today is a great day and a real win for Tulsa."

New ownership plans a capital program concentrated on the lobby, the building frontage, the ground floor, and the parking garage, carried out in a manner consistent with federal and state historic preservation standards.

The plan centers on the corner. Ownership intends to bring a full-service restaurant into the ground-floor space with an outdoor patio, restore the frontage and exterior lighting, and return the lobby to the scale and material quality of the original 1963 design.

Ownership is also in active negotiations with several premium luxury fitness operators to bring a club into the building, targeting a facility well beyond the fitness rooms typically found in corporate office buildings, operated by a name tenant rather than assembled as a landlord amenity.

"Tenants are choosing buildings on what the day actually feels like," said Kyle Bruner, Managing Partner of Kismet Stratton Investments. "Where you eat, whether you can train without leaving the building, whether you can park. We would rather deliver three things at a level people notice than fifteen things nobody uses."

"A building like this one only comes up every so often," Bruner said. "It was built at the height of Tulsa's oil era and it still carries that. We intend to make it the mecca of Tulsa's oil and gas industry again."

The building is home to legal, financial services, and professional services firms, with leasing focused on the remaining full floors.

Leasing inquiries may be directed to leasing@petroleumclubtulsa.com or petroleumclubtulsa.com.

ABOUT THE PRICE FAMILY

The Price Family has a longstanding commitment to the revitalization of downtown Tulsa. In 2016, Stuart and Linda Price founded Price Family Properties, which owns and operates a diverse portfolio of commercial, multi-family, and parking properties throughout Tulsa's historic Deco District, including First Place Tower, Arvest Tower, and the Arco Apartments. With several of their children actively involved in the family business, the Price Family continues to invest in the growth and vitality of downtown Tulsa, helping create a thriving community where people can live, work, and play for generations to come.

ABOUT KISMET STRATTON INVESTMENTS LLC

Kismet Stratton Investments LLC is a private equity firm based in Wichita, Kansas. The firm acquires and repositions commercial real estate and operating businesses, with holdings across commercial real estate, oil and gas, and renewable energy.

MEDIA CONTACTS

Kyle Bruner, Managing Partner, Kismet Stratton Investments LLC | kyle@kismetstratton.com

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SOURCE Kismet Stratton Investments