I was walking home the night it was lit up. There was a photographer there taking pictures of the building.

Ah. Perhaps that was the only reason the lights were on that night.

Also, I noticed that the north side of the building was not lit and perhaps that's because it wasn't being photographed.

Maybe they were taking pictures for a for sale listing?

This is from the 2017 office survey done by Price Edwards:


The Central Business District experienced a significant increase in both inventory and vacant space due to the addition of the Sandridge Center and the Parkside Building, both owned by Sandridge Energy. These buildings had previously been held off the market, but with Sandridge only needing approximately 60% of its own headquarters building, the decision was made to offer the surplus space to other quality tenants. The addition of these buildings to the CBD market caused the vacancy rate to rise from 13.8% to 17.1%. Without those buildings, the CBD was actually fairly steady with negative absorption of only 13,000 SF. The Class A vacancy rate in the CBD nearly doubled from 6.1% to 11.3%

I seriously doubt they are using anywhere close to 60% of that building, especially now.

IMO, SandRidge should move into Parkside and sell the tower.

I've offered that idea before but now seems like it could actually take note with those in charge. The Kerr McGee tower would make a nice new home for OGE Energy (with maybe a stipulation OKC gets to claw-back the Stage Center land), or maybe Continental Resources (but Im hoping they will build new, eventually ala Devon).

Claw back how? And, how does the city MAKE OGE buy SR property?

IMO, SandRidge should move into Parkside and sell the tower.

I've offered that idea before but now seems like it could actually take note with those in charge. The Kerr McGee tower would make a nice new home for OGE Energy (with maybe a stipulation OKC gets to claw-back the Stage Center land), or maybe Continental Resources (but Im hoping they will build new, eventually ala Devon).

http://okenergytoday.com/new/wp-content/uploads/2015/03/3bf63a9380127f0f617f1c7f2dc6c881.jpg
OKC gave up prime downtown parcel with the demolition of Stage Center; they need to fill up the OG&E Springs with a new headquarters. Get one building constructed to accommodate your employees who reside in an antique structure that dates back to the Dust bowl & depression eras.

Claw back how? And, how does the city MAKE OGE buy SR property?

where did I say the city to "make OGE buy SR"? Not sure about your posture here but you may want to re-read what I wrote.

furthermore, wasn't Stage Center an Urban Renewal property? It should have had a development clause, which if not executed per approved design (or variance therein) would allow the city to claw back. Other cities do this as Im sure you already know.

http://okenergytoday.com/new/wp-content/uploads/2015/03/3bf63a9380127f0f617f1c7f2dc6c881.jpg
OKC gave up prime downtown parcel with the demolition of Stage Center; they need to fill up the OG&E Springs with a new headquarters. Get one building constructed to accommodate your employees who reside in an antique structure that dates back to the Dust bowl & depression eras.

I like your idea too Laramie. it'd be very cool if OGE built just their office tower - or even better, office on the bottom with residential on top and retail on ground (and 2nd/3rd). ... Anything but what's the case today. As I said, IMO OKC should have a clawback.

I like your idea too Laramie. it'd be very cool if OGE built just their office tower - or even better, office on the bottom with residential on top and retail on ground (and 2nd/3rd). ... Anything but what's the case today. As I said, IMO OKC should have a clawback.


OKC didn’t sell that lot to OGE. How would they have a claw back that was a priviate sale

where did I say the city to "make OGE buy SR"? Not sure about your posture here but you may want to re-read what I wrote.

furthermore, wasn't Stage Center an Urban Renewal property? It should have had a development clause, which if not executed per approved design (or variance therein) would allow the city to claw back. Other cities do this as Im sure you already know.

YOUR proposal tied the two together.

Maybe it SHOULD have had a development clause, but I don’t believe it did. We can’t revise history. And I am not sure what other cities with OUR laws, etc. have done this. I am curious... who has?

Stage Center -- now owned by OG&E -- was not handled by OCURA or any other city agency.

It was sold by the foundation behind Stage Center.

I made the point at the time that the city should have acquired it than gone through the usual RFP process. Instead, we have a fenced-off nothingness with zero plans any time soon.

Meanwhile... back at Sandridge ....

If OG&E bought it (and not Rainey), why was Rainey even in the discussion? Sorry, I'm certain I knew this at one time, but oldness brain is a bitch.

If OG&E bought it (and not Rainey), why was Rainey even in the discussion? Sorry, I'm certain I knew this at one time, but oldness brain is a bitch.

Because it was reported that Rainey was the buyer and that the tenant was unknown, even though we had already reported it was OG&E and Williams was a former board member of Enable, which is a spin-off of OG&E.

Hence, the famous line, "You don't know Rainey Williams".

It should be noted that no sale between Williams and OG&E ever was recorded by the County Assessor, just a transfer between LLC's.

If OG&E bought it (and not Rainey), why was Rainey even in the discussion? Sorry, I'm certain I knew this at one time, but oldness brain is a bitch.

You don't know Rainey Williams?

If OG&E bought it (and not Rainey), why was Rainey even in the discussion? Sorry, I'm certain I knew this at one time, but oldness brain is a bitch.

Rainey bought Sandridge Center & Commons? What a coincidence. I think he is mentioned on the OGE thread too.

Rainey bought Sandridge Center & Commons? What a coincidence. I think he is mentioned on the OGE thread too.

Do you even know Rainey Williams bruh?

I heard he bought all of downtown and has plans that will make Dallas and Kansas City jealous.

I heard he bought all of downtown and has plans that will make Dallas and Kansas City jealous.

If you think those are the only cities that will be jealous then you don’t know Rainey Williams

I suspect the reason Sandridge does not move to the smaller building is because they are hoping that when the price of oil goes back up, all their problems will be solved.

I'm sure it costs more money to stay in the old Kerr McGee building than it would to go to the smaller one. But it probably doesn't cost that much more. Not once you factor in the cost to move. And with the recent glut of new office space downtown, I'm not sure they'd find a buyer who would pay enough for that building to make selling it worth their while. Owning the Kerr McGee building isn't going to be what drives the company out of business.

Plus, they'd feel really stupid if they sold the building, and then oil went up to $120 a barrel six months later. They'd be hiring a bunch of new people with nowhere to put them. The money they'd get from a sale right now is probably not worth the cost they'd incur if oil shot back up. And it will shoot back up, it always does. It's just a question of when.

Keep in mind, the Sandridge Tower was completely renovated inside (and at great expense) to fit the needs of Sandridge. The executive floors are pretty incredible and there is some parking directly underneath the building; the huge garage they own is connected via the Underground.

The Parkskide Building has not even been finished out inside.

Plus, they'd feel really stupid if they sold the building, and then oil went up to $120 a barrel six months later. They'd be hiring a bunch of new people with nowhere to put them.

I've been thinking about this a lot lately, and while i'm no expert, i do think the days of massive head counts within the industry are gone. Or at least changed forever. Over the last 10 years, there have been so many leaps and bounds in data capture streamlining/automation and focus on big data analytics, that companies simply don't need the staff that they used to. CHK, Devon, Sandridge were all already overstaffed. The downturn just forced companies to shed weight that in a lot of cases was already being deemed unnecessary by adopting technological advances.

I'm not saying there won't be any pick up of employees, or that companies won't forget the lessons learned from mistakes. I just don't see the need for such high head counts now that analytical tools and better data standards and procedures are doing quickly and efficiently what it used to take teams of people hours upon hours to do.

Sorry if that sounds like a slam to anyone that lost their job, i promise it isn't meant to be. Just how i see things headed.

If OG&E bought it (and not Rainey), why was Rainey even in the discussion? Sorry, I'm certain I knew this at one time, but oldness brain is a bitch.

Welcome to the club. Thought I was the only one on the forum suffering from chitterlings (Metamorphosis) of the brain. :D

Need to re-title this thread, Sandridge Arms.

I suspect the reason Sandridge does not move to the smaller building is because they are hoping that when the price of oil goes back up, all their problems will be solved.

I'm sure it costs more money to stay in the old Kerr McGee building than it would to go to the smaller one. But it probably doesn't cost that much more. Not once you factor in the cost to move. And with the recent glut of new office space downtown, I'm not sure they'd find a buyer who would pay enough for that building to make selling it worth their while. Owning the Kerr McGee building isn't going to be what drives the company out of business.

Plus, they'd feel really stupid if they sold the building, and then oil went up to $120 a barrel six months later. They'd be hiring a bunch of new people with nowhere to put them. The money they'd get from a sale right now is probably not worth the cost they'd incur if oil shot back up. And it will shoot back up, it always does. It's just a question of when.
The problem with this theory is you assume Sandridge has quality assets and locations left to drill. Which they really don’t.

Every barrel of oil a company produces is a barrel closer to death. So unless a company is buying new assets to get a new drilling inventory, the company is just slowly dying. Sandridge is slowly dying. They are not in a good spot right now.

Because it was reported that Rainey was the buyer and that the tenant was unknown, even though we had already reported it was OG&E and Williams was a former board member of Enable, which is a spin-off of OG&E.

Hence, the famous line, "You don't know Rainey Williams".

It should be noted that no sale between Williams and OG&E ever was recorded by the County Assessor, just a transfer between LLC's.

This tower will still be built. If you think otherwise, well, then you just don't know Rainey Williams.

This tower will still be built. If you think otherwise, well, then you just don't know Rainey Williams.

To add additional context for those unaware, here's where that line originally came from. Look for Steve's first response, to Gary T.: http://newsok.com/article/3866278

^^^glorious

SandRidge Tower has been illuminated two nights in a row.

Hopefully this means it will stay this way in the future.

http://www.okctalk.com/images/pete/skyline010418c.jpg

It was lit up again tonight. Really, really improves the look of the skyline.

^

And it shouldn't be much longer until First National and BancFirst have newly lit crowns.

^

And it shouldn't be much longer until First National and BancFirst have newly lit crowns.

Is it true that First National's crown is going to change colors based on the weather? I could have sworn I saw that posted on here somewhere, but it's possible I was just imagining it.

Also, is there any chance of Devon fixing the remaining "holes" in their LED lighting?

If the LED lights at Devon haven't been fixed by now, I suspect they never will be.

I know Gary Brooks said the top of FNC would have color-shifting LED lights, similar to Terminal Tower in Cleveland:

http://www.okctalk.com/images/pete/clevelandtower.jpg

If the LED lights at Devon haven't been fixed by now, I suspect they never will be.

I know Gary Brooks said the top of FNC would have color-shifting LED lights, similar to Terminal Tower in Cleveland:

http://www.okctalk.com/images/pete/clevelandtower.jpg

Disappointed about Devon, but looking forward to seeing the forthcoming improvements to FNC and BancFirst Tower. Thanks for the answers!

SandRidge Tower being lit up again is great for the skyline. However, would it be cool to see it illuminated in different colors (purple maybe?) or am I trippin?

Trippin

They are now trying to lease floors 5-30 in this building.

In other words, SandRidge only now occupies the first 4 floors of a total of 30.


Suddenly, we have a lot of Class A (or soon to be) office space available downtown:

- Almost all of SandRidge Tower
- 50% of BancFirst Tower
- 60% of BOK Park Plaza
- Several completely empty floors in Devon Tower (although not out for sublease)
- The Enable Midstream hole that will be left in Leadership Square when they move to BOK Park Plaza
- The hole left by BOK in the old Fidelity Tower
- Several floors of the Parkside Building (Echo only taking 2 floors)

Just outside of downtown:
- Monarch Building (will Ackerman still take the top 3 floors?)
- Broadway Park; still 100% available
- Miller & Johnson has 2 of 3 floors available
- 2000 Classen: 42,000 SF empty after American Fidelity bought the old OPUBCO property


Then, you have the 20-story Dowell Center still sitting there 100% vacant in the heart of the CBD.

They are now trying to lease floors 5-30 in this building.

In other words, SandRidge only now occupies the first 4 floors of a total of 30.


Suddenly, we have a lot of Class A (or soon to be) office space available downtown:

- Almost all of SandRidge Tower
- 50% of BancFirst Tower
- 60% of BOK Park Plaza
- Several completely empty floors in Devon Tower (although not out for sublease)
- The Enable Midstream hole that will be left in Leadership Square when they move to BOK Park Plaza
- The hole left by BOK in the old Fidelity Tower
- Several floors of the Parkside Building (Echo only taking 2 floors)

Just outside of downtown:
- Monarch Building (will Ackerman still take the top 3 floors?)
- Broadway Park; still 100% available
- Miller & Johnson has 2 of 3 floors available
- 2000 Classen: 42,000 SF empty after American Fidelity bought the old OPUBCO property


Then, you have the 20-story Dowell Center still sitting there 100% vacant in the heart of the CBD.

And absolutely 0 effort by the city or state to fill any of it. Kinda depressing to think about.

Also... Don't be surprised if the Oklahoman soon consolidates to the 1st floor in the Century Center, leaving the entire 2nd floor empty.

And absolutely 0 effort by the city or state to fill any of it. Kinda depressing to think about.

you base this on what?

And absolutely 0 effort by the city or state to fill any of it. Kinda depressing to think about.
You talking effort, or results that you know of? Big difference. Trying and able to get done are two different things.

They are now trying to lease floors 5-30 in this building.

In other words, SandRidge only now occupies the first 4 floors of a total of 30.


Suddenly, we have a lot of Class A (or soon to be) office space available downtown:

- Almost all of SandRidge Tower
- 50% of BancFirst Tower
- 60% of BOK Park Plaza
- Several completely empty floors in Devon Tower (although not out for sublease)
- The Enable Midstream hole that will be left in Leadership Square when they move to BOK Park Plaza
- The hole left by BOK in the old Fidelity Tower
- Several floors of the Parkside Building (Echo only taking 2 floors)

Just outside of downtown:
- Monarch Building (will Ackerman still take the top 3 floors?)
- Broadway Park; still 100% available
- Miller & Johnson has 2 of 3 floors available
- 2000 Classen: 42,000 SF empty after American Fidelity bought the old OPUBCO property


Then, you have the 20-story Dowell Center still sitting there 100% vacant in the heart of the CBD.

With all this vacancy is parking still an issue in downtown?

Both the city and state are out actively recruiting companies all the time.

Also, the city provides incentives for companies like Heartland that move downtown from other areas of the city/metro.

you base this on what?

The fact that there has, for quite a while now, been a net outflow of office space downtown. Never hear of companies moving downtown (that don't leave a hole somewhere else). Always them leaving or consolidating. If the efforts aren't working then switch up the efforts. But I think it all has to do with 23rd and Lincoln...

Devon is not using 100% of their building either and I've wondered if they will ever release some space to the market...

(oops didn't see that you already stated this)

With all this vacancy is parking still an issue in downtown?

It depends on where the need is, but the handful of parking garages still owned by the city are well below capacity.

With all this vacancy is parking still an issue in downtown?

It'll mean parking will be even more an issue, ie overbuilt

The fact that there has, for quite a while now, been a net outflow of office space downtown. Never hear of companies moving downtown (that don't leave a hole somewhere else). Always them leaving or consolidating. If the efforts aren't working then switch up the efforts. But I think it all has to do with 23rd and Lincoln...

As much as I disrespect our government leadership, it is a mistake to put this all on them. Unemployment is very low and OKC is growing. We have been adding lots of office space downtown and oil and gas is producing more with less administrative, support, and management staff.
I’m hoping BancFirst moving downtown will trigger more financial services and attract more headquarters downtown.

It'll mean parking will be even more an issue, ie overbuilt

Better to have more than not enough. But as for any perceived issue that sure won’t be the case if OKC ever truly booms and city leaders and residents alike will be glad parking was overbuilt.

^

Keep in mind BancFirst is already HQ'd downtown, they will just be consolidating some operations into their new space.

But they will also be leaving behind the space they now occupy directly to the east.

Net absorption of square footage will be pretty minor.

Regarding parking, if the city garages stay low in occupancy it will be much easier to eventually demolish the Cox Center and not completely disrupt parking in the CBD.

But it also has to be said that when the city sells off garages like Santa Fe and what is now owned by SandRidge at Broadway & Kerr, they lose the ability to level out parking needs. I know that SandRidge garage is relatively vacant, for example.

It's even a bigger issue when private garages are built. Those 2 huge parking structures were built for BOK Park Plaza and are also quite empty nearly 2 years later. That will ultimately change, but the point is that there is no overall entity dealing with the ebbs and flow of supply and demand.

Sure wish I could get American Fidelity to move back downtown, but more in the heart of the CBD. I hate being all the way up on Broadway Extension with literally nothing around us for food or anything. The bus that stops near our office is even low frequency.

Sure wish I could get American Fidelity to move back downtown, but more in the heart of the CBD. I hate being all the way up on Broadway Extension with literally nothing around us for food or anything. The bus that stops near our office is even low frequency.

you should get a bunch of restaurants pretty soon right? ?

Sure wish I could get American Fidelity to move back downtown, but more in the heart of the CBD. I hate being all the way up on Broadway Extension with literally nothing around us for food or anything. The bus that stops near our office is even low frequency.
American Fidelity not being downtown was a loss. Maybe Paycom will make the move someday?

Sandridge moves into the remaining floors of the Commons with Echo. And Paycom hoists their logo on the Sandridge Tower. /dream

^

Keep in mind BancFirst is already HQ'd downtown, they will just be consolidating some operations into their new space.

But they will also be leaving behind the space they now occupy directly to the east.

Net absorption of square footage will be pretty minor.

Which is my point. There will be millions of square feet of class A space in the heart of downtown, and almost no hope of filling it. OKC keeps getting blue-collar jobs, which are great. This is not a blue-collar space. Wish OKC could land some of those companies leaving SFO by the dozens and going to DFW or Austin.

Failed to mention the recently renovated Pioneer Building is still 100% empty.

And the 5-story old Cain's building on Auto Alley has most its space for lease.

you should get a bunch of restaurants pretty soon right? ?

None of them are those small, hop in/hop out types. They will either be fast food catered to drive thru service or sit down/ table service type places.

Regarding parking, if the city garages stay low in occupancy it will be much easier to eventually demolish the Cox Center and not completely disrupt parking in the CBD.

But it also has to be said that when the city sells off garages like Santa Fe and what is now owned by SandRidge at Broadway & Kerr, they lose the ability to level out parking needs. I know that SandRidge garage is relatively vacant, for example.

It's even a bigger issue when private garages are built. Those 2 huge parking structures were built for BOK Park Plaza and are also quite empty nearly 2 years later. That will ultimately change, but the point is that there is no overall entity dealing with the ebbs and flow of supply and demand.

I know it won’t happen but man if there are two structures in OKC I’d like to see demolished it’s the Cox Center and Santa Fe Garage(the structure that won’t be demo’d).

Lol “outflow of companies out of downtown”

Try oil prices crashed companies went bankrupt, the ones that survived drastically reduced head counts.

Once BancFirst tower is completed with renovations, Bancfirst is moving all their operations and will be 90% occupied.