Murphy's Vacated Headquarters for Sale

Murphy's Vacated Headquarters for Sale
Murphy Oil Corp. headquarters in El Dorado. (Rob Moritz)

What has 87,000 SF of office space, a nice spot in the heart of El Dorado and a $15 million price tag?

It’s the 2015-vintage office building at 300 E. Peach St. recently vacated by Murphy Oil Corp., the global oil exploration and production corporation that was the granddaddy of south Arkansas’ century-old petroleum industry before decamping to Texas this year.

The headquarters building is being listed by Colliers International as a “Class A” property, complete with an enhanced server room and a 1,000-kilowatt backup generator. Your $15 million will also get you, among other amenities, “high-level finishes,” a 100-capacity video conference center and a “on-site commercial-grade kitchen.”

Murphy shocked the state in May with its announcement that it was moving its headquarters to Houston as a cost-saving measure amid a collapse in oil prices. The headquarters, along with most of the 80 employees who worked there, were transferred to existing office space in Houston, Texas.

Murphy USA, the spinoff company operating 1,400 gas stations/convenience stores in 26 states, remains headquartered in El Dorado. Murphy Oil’s roots there go back to 1907, when Charles Haywood Murphy Sr. sold a dozen banks and began buying tracts of land poised for oil field development. In 1921, oil production began in the Smackover field in Arkansas, and Murphy owned 22% of the company producing it, Marine Oil.

Murphy Oil’s move in May upended that long history, but it also left the Peach Street property available for sale. The online listing directs interested parties to Colliers Senior Broker Greg Joslin, Executive Broker Brandon Rogers and Isaac Smith, president of Colliers International/Arkansas.

Smith and Joslin did not respond to requests for comment, nor did Kelly Whitley, Murphy Oil’s vice president for investor relations and communications.