Four key properties sell in Bricktown; more to follow

As OKCTalk first reported in early June, several key properties in the heart of Bricktown were under contract to be sold to a group headed by local broker/investor/developer Andy Burnett.

The County Assessor just recorded the sale of the half of these properties (labeled 5 through 8 below) in a $5.8 million transaction that closed September 2nd.

The four properties represent 3 historic buildings that total 34,800 square feet of office space and a surface parking lot. We have heard from reputable sources there are active plans to sell off the parking lot to another group who are planning a hotel for that site.

The purchasing LLC tracks back to GFO Companies, the same Los Angeles based investment group that purchased the Sycamore Square Apartments and that has proposed to build the 700 West apartments along with a new apartment building at Sycamore Square.

The sale of the properties on the north side of Sheridan should post soon.

Most of the properties are owned by Don Karmcher who is also trying to re-work his large parking garage plan for the site labeled 'Karchmer 2'. We've also heard he plans to develop the 'Karchmer 1' parking lot into structured parking. Just recently Karchmer submitted plans to remodel his building at 4 E. Sheridan to provide offices in the previously empty three floors above the ground level Melting Pot restaurant.

We understand the Burnett group also want to buy the Spaghetti Warehouse building but the owners are reluctant to sell.

In this immediate area, the Mideke Building is being renovated for the future headquarters of Tapstone Energy, the company formed by Tom Ward after he was ousted from SandRidge. The new Holiday Inn Express is nearing completion as well.