Northwood Investors Acquires Iconic Utica Square in Tulsa

Global real estate firm takes over Tulsa's beloved open-air lifestyle center after over 60 years of Helmerich family ownership.

Apr. 3, 2026 at 3:21pm

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A polished, geometric sculpture made of brushed stainless steel, elegantly arranged on a clean, monochromatic background, symbolizing the timeless architecture and design of Utica Square and Northwood's commitment to honoring its past while investing in its future.Northwood Investors' acquisition of the iconic Utica Square shopping center in Tulsa marks a new chapter for the beloved community landmark.Utica Today

Global real estate investment firm Northwood Investors LLC announced the acquisition of Utica Square, a 370,755 square foot open-air lifestyle center located in the heart of Tulsa, Oklahoma. The iconic property has been owned by Helmerich & Payne, Inc. (H&P) since 1964. While the acquisition marks the end of a remarkable era of family stewardship, Northwood looks forward to honoring Utica Square's past while investing in its future.

Why it matters

Utica Square has long been a beloved community hub and landmark in Tulsa, blending local institutions with national retail brands. The change in ownership raises questions about the future direction of the property and whether Northwood will maintain the square's unique character and traditions that have made it a cherished part of the city's identity.

The details

Northwood Retail, an affiliate of Northwood Investors, specializes in delivering extraordinary retail centers and plans to further enhance Utica Square with improvements that honor the original architecture and mirror what the Helmerich family has created, while delivering new retailers that meet market needs and align with the neighborhood's sought-after demographics.

  • Utica Square opened in 1952 as Tulsa's first suburban shopping center.
  • Helmerich & Payne, Inc. (H&P) has owned the property since 1964.
  • Northwood Investors LLC announced the acquisition on April 3, 2026.

The players

Northwood Investors LLC

A privately held real estate private equity firm that owns and operates real estate across the U.S. and Europe, managing a portfolio aggregating approximately $20 billion in total gross asset value.

Northwood Retail LLC

An affiliate of Northwood Investors that specializes in delivering extraordinary retail centers and managing a portfolio of community and mixed-use properties across the United States.

Helmerich & Payne, Inc. (H&P)

A company founded in 1920 that is committed to delivering industry leading levels of drilling productivity and reliability, operating with the highest level of integrity, safety and innovation.

Hans Helmerich

The Chairman of the Board at Helmerich & Payne, Inc.

Ward Kampf

The President of Northwood Retail LLC.

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What they’re saying

“Utica Square has been an important part of our company's history and of the Tulsa community for many years. We are grateful for the generations of tenants, employees and visitors who helped make Utica Square the special place it is today. As we considered the future of the property, it was important to us to find a buyer with the experience and long-term perspective to continue its legacy. We believe Northwood is well positioned to serve as an excellent steward of Utica Square and support its continued success in the Tulsa community.”

— Hans Helmerich, Chairman of the Board at Helmerich & Payne, Inc.

“We feel very fortunate that the Helmerich family chose Northwood to carry on the legacy for what we feel is one of the most unique and idyllic retail assets in the United States. With a portfolio spanning coast to coast, we have a nationwide lens, and in Utica Square, we identified a rare opportunity to own a true Tulsa landmark with history, prestige, and deep community roots. We recognize the property's special personality, driven by local operators, a garden-like atmosphere, longstanding traditions, and signature events. We plan to further enhance the project with improvements that honor the original architecture and mirror what the Helmerich family has created, while delivering new retailers that meet market needs and align with the neighborhood's sought-after demographics.”

— Ward Kampf, President of Northwood Retail LLC

What’s next

Northwood Retail plans to further enhance Utica Square with improvements that honor the original architecture and mirror what the Helmerich family has created, while delivering new retailers that meet market needs and align with the neighborhood's sought-after demographics.

The takeaway

The acquisition of Utica Square by Northwood Investors marks the end of an era of family stewardship, raising questions about the future direction of the iconic Tulsa landmark. However, Northwood's commitment to honoring the property's unique character and traditions while investing in its future suggests the beloved community hub may continue to thrive under new ownership.