View Full Version : Parkside Building



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Pete
10-29-2015, 06:21 AM
Here are a few of the Parkside and Kerr/Couch Parks.

The City was supposed to be done with the parks months ago and the latest promise was October, which is clearly not going to happen.

The renovation of Dowell Center won't start until the parks are complete.



http://www.okctalk.com/images/pete/parkside102915a.jpg


http://www.okctalk.com/images/pete/parkside102915b.jpg


http://www.okctalk.com/images/pete/parkside102915c.jpg


http://www.okctalk.com/images/pete/parkside102915d.jpg

HOT ROD
10-30-2015, 02:33 PM
given Dowell's track record, the Dowell Tower wont even start then.

Pete
11-15-2015, 10:16 AM
This building is just about complete, as is Kerr Park. I took a bunch more photos and will upload them later.

http://www.okctalk.com/images/pete/parkside111515a.jpg

Pete
11-15-2015, 10:27 AM
http://www.okctalk.com/images/pete/parkside111515b.jpg


http://www.okctalk.com/images/pete/parkside111515c.jpg


http://www.okctalk.com/images/pete/parkside111515d.jpg


http://www.okctalk.com/images/pete/parkside111515e.jpg


http://www.okctalk.com/images/pete/parkside111515f.jpg


http://www.okctalk.com/images/pete/parkside111515g.jpg

ShadowStrings
11-15-2015, 11:22 AM
http://www.okctalk.com/images/pete/parkside111515a.jpg

I have been meaning to post about this all week, but look at the sidewalk that you are looking all the way down from the perspective of this picture (towards the left). Maybe there is a good reason, but what is the thought process behind planting trees on half of the sidewalk, effectively cutting the width of the sidewalk in half? I'm not going to weave around the trees normally, but if I'm walking with someone and there are people coming from the other direction, I would have to. These are planted right beside big, grassy areas. Why not put them there and leave a wide sidewalk? I have the same problem with the trees on 2nd Street in Deep Deuce (in front of Aloft and Clark Building). I park in Deep Deuce and walk to work in the CBD every day, and it's not unusual for me to have to bob in and out around the sidewalk cutouts where the trees are, especially if I'm walking with more than one person. Either someone in our group has to walk in front or behind, or the person on the end has to constantly move around the trees.

On that note, is there a way to request that the lowest branches on trees get cut off? The trees between OKSea and EK Gaylord are problematic for me. I'm only 6 feet tall, but I always have to duck under the branches. It's especially bad when it rains because the branches sag even lower. The trees are tall enough that they wouldn't look bad if the lowest branches were a little bit higher. In an area that is supposed to be very walkable, I feel like people shouldn't have to dodge tree branches.

And also while I'm ranting, who could be contacted about the mud that collects under the old railroad viaduct on 2nd Street? Every time it rains, mud washes down and collects right there, and I have to tiptoe around it to keep from getting muddy. It never gets cleaned up after it rains, so I always have to walk around it.

Snowman
11-15-2015, 02:50 PM
I was wondering if they were going to put benches or other amenities on the pavement between the trees

Pete
12-13-2015, 07:04 PM
http://www.okctalk.com/images/pete/parkside121315a.jpg


http://www.okctalk.com/images/pete/parkside121315b.jpg


http://www.okctalk.com/images/pete/parkside121315c.jpg

catch22
12-13-2015, 11:07 PM
What a cool, modern building. I really like the finished product!

jccouger
12-14-2015, 08:22 AM
I really like that it has helped modernize the east side of downtown. Really helps tie in our whole downtown together instead of having "new/west downtown" and "old/east downtown".

_Cramer_
12-15-2015, 02:21 PM
Looks Amazing! :cool:

Just think what it will be like in 20 years when the trees have matured.

bchris02
12-15-2015, 04:35 PM
I really like this building and the park. Now it just needs a tenant since Sandridge no longer needs it.

David
05-15-2018, 01:54 PM
SandRidge sells Parkside Building for $10.75 million (https://newsok.com/article/5594701/sandridge-sells-parkside-building-for-10.75-million)


SandRidge Energy has sold its Parkside Building, empty since it was completed two years ago, for $10.75 million to a limited liability company formed in January.

Officials with SandRidge did not return requests for comment from The Oklahoman, and the broker, Travis Mason, declined to provide details for the buyer, Winter Thorn LLC.

sooner88
05-15-2018, 02:02 PM
SandRidge sells Parkside Building for $10.75 million (https://newsok.com/article/5594701/sandridge-sells-parkside-building-for-10.75-million)

This is a good move, it will be a nice to have a new company move downtown and occupy the space.

shawnw
05-15-2018, 02:07 PM
Whoa. I wonder if this is a spec move or one of those relocation that's been talked about.

GoldFire
05-15-2018, 02:07 PM
Finally! It has been sad seeing such a nice building right in the middle of the CBD sitting unfinished and unused for so long.

jn1780
05-15-2018, 02:09 PM
Nice to have newly completed buildings actually occupied. Now we need more occupants for the BOK tower.

pw405
05-15-2018, 07:19 PM
"Winterthorn LLC"... hmm, I wonder what that means. Symbolic of an industry/person/company?

progressiveboy
05-15-2018, 07:40 PM
Great to see OKC is raising the bar! Looks like a winner!!!

sooner88
05-15-2018, 08:26 PM
It's another local oil and gas company.

Pete
05-16-2018, 08:33 PM
BTW, SandRidge paid $3.5 million for the original old Globe Life Building, another large amount to have it carefully demolished, than spent $35 million just to create the existing shell.

So, around $40 million investment.

Just sold it for $10.75 million.

Pete
06-27-2018, 02:26 PM
Echo Energy revealed as purchaser of key downtown building (http://www.okctalk.com/content.php?r=514-Echo-Energy-revealed-as-purchaser-of-key-downtown-building)


OKCTalk has learned that Echo Energy is behind the recent purchase of downtown's Parkside Building at 120 Robert S. Kerr.


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


The building was originally constructed by SandRidge Energy under the direction of Tom Ward, and was planned to be the company's 'amentities buiding' complete with a large auditorium and expansive fitness center.

However, as the company's fortunes flagged and Ward was ousted, the entire space was roughed-in as office space while first a tenant then a buyer was sought.

Last month, SandRidge sold the property to Winter Thorn LLC for $10,749,000. To construct the building SandRidge was issued a building permit for $30 million and had paid Globe Life $3.5 million in 2008 before razing the 14-story structure.


http://www.okctalk.com/images/pete/globelife1.jpg


Several sources have comfirmed that Echo Energy is behind Winter Thorn LLC.

Today, busloads of employees in Echo t-shirts were served by beer and food trucks just outside the building and sat at tables fronting the park. When asked if Echo was moving downtown, employees replied in the affirmative and indicated the move would occur after the first of the year.


http://www.okctalk.com/images/pete/echoparkside6.jpg

http://www.okctalk.com/images/pete/echoparkside7.jpg


Since reaching completion several years ago, the Parkside Building has remained empty and the interior is still in an unfinished state.


http://www.okctalk.com/images/pete/echoparkside4.jpg


Echo currently offices at the IBC Bank Center on NW Expressway. Their website says they currently manage assets in the SCOOP, STACK, Midland and Delaware basins in Oklahoma and Texas.

There is 75,000 square feet of space in the Parkside while Echo is currently only occuping a fraction of that amount, having leased just over 12,000 square feet in 2015. There has been speculation at least one other local engergy company will join them in their downtown move.

The Parkside also features a large resturant area facing Kerr Park, which is in the process of receiving upgrades (http://www.okctalk.com/content.php?r=512-Work-starts-on-improvements-to-downtown-s-Kerr-Park).


http://www.okctalk.com/images/pete/echoparkside3.jpg

gopokes88
06-27-2018, 02:58 PM
This is fantastic news

Pete
06-27-2018, 03:03 PM
Additional things:

1. The CEO of Echo recently married the CEO of Warwick Energy. Warwick may be joining them downtown.
2. They intend to operate the restaurant space that fronts the park for breakfast, lunch and dinner. Not clear if they have an operator yet but it's a priority.
3. Echo will aid in the programming of Kerr Park.

HangryHippo
06-27-2018, 03:13 PM
Never heard of Echo Energy. Are they poised for growth? Any insight gopokes or PhiAlpha?

PhiAlpha
06-27-2018, 03:22 PM
Never heard of Echo Energy. Are they poised for growth? Any insight gopokes or PhiAlpha?

In short, yes. That's definitely part of the reason they're making the move. They've graduated from being more or less a small time, non-op and mineral company to becoming an operator (drilling and completing their own wells) over the last few years. They've grown quite a bit since starting to make that transition. They aren't going to balloon to the size of Continental anytime soon but assuming commodity pricing remains stable or continues improving, they will be a great addition to downtown that will experience responsible growth. Sounds like they are already helping with the Kerr park remodel so hopefully that's a great sign of things to come for their presence in the cbd.

gopokes88
06-27-2018, 03:31 PM
Never heard of Echo Energy. Are they poised for growth? Any insight gopokes or PhiAlpha?
Founded in 2010. Recently started a drilling program.

Drilling in Scoop and Stack.
Running 3 rigs, Blaine, Grady, McClain counties.

I think their acreage in the Permian is non-op. Haven't ever heard much about them down there.

Leadership has tons of shale experience, comprised of seasoned industry leaders from companies such as ExxonMobil (NYSE: XOM), Chesapeake Energy (NYSE: CHK), SandRidge Energy, Devon Energy (NYSE: DVN) and Continental Resources Inc. (NYSE: CLR)

Haven't pinned down who their PE partner is, but I imagine it's very large and know they've raised at least a billion.

Lots of open jobs, still growing. https://www.paycomonline.net/v4/ats/web.php/jobs?clientkey=7037FB3E8FCF4DEF96BE40A1CEA962BD#

This is a very good thing. For them to making this move they must be thinking more in the IPO deal, rather than develop acreage and flip it.

Pete
06-27-2018, 03:36 PM
It's interesting that all these smaller O&G companies seem to be growing while the OKC big boys such as Devon, Cheasapeake and even Continental have been shrinking.

Seems to be part of a bigger trend and doesn't bode well for DVN, CHK and CLR.

jedicurt
06-27-2018, 03:40 PM
It's interesting that all these smaller O&G companies seem to be growing while the OKC big boys such as Devon, Cheasapeake and even Continental have been shrinking.

Seems to be part of a bigger trend and doesn't bode well for DVN, CHK and CLR.

I think it's something that happens in every industry... The tech industry does it often too... you have several big boys that do everything... then they start to become stagnant in growth or shrink.... then you get start ups who grow quickly at the time the big boys aren't, then the big boys decide to purchase the smaller ones instead of innovating, and that allows them to grow for awhile, and occasionally a big one goes down.

Pete
06-27-2018, 03:43 PM
I think it's something that happens in every industry... The tech industry does it often too... you have several big boys that do everything... then they start to become stagnant in growth or shrink.... then you get start ups who grow quickly at the time the big boys aren't, then the big boys decide to purchase the smaller ones instead of innovating, and that allows them to grow for awhile, and occasionally a big one goes down.

Right and of course the whole reason for this purchase is because SandRidge has been slowly going down the tubes for years.

gopokes88
06-27-2018, 03:44 PM
It's interesting that all these smaller O&G companies seem to be growing while the OKC big boys such as Devon, Cheasapeake and even Continental have been shrinking.

Seems to be part of a bigger trend and doesn't bode well for DVN, CHK and CLR.

It's just part of the cycle. CHK and DVN have balance sheet and boost returns focus right now. (CLR can do whatever they want, they're still 65% owned by Hamm a defacto private company).

DVN is about to turn it on. They very quietly boosted CAPEX in the Eagle Ford, Barnett, Wyoming to stabilize and slightly grow production while they work at a breakneck in the Stack and Permian.
CHK is huge complicated mess with a lot of debt coming due and soon. Things have been improving as of recent however though.

These smaller PE companies are fun though. They scoop up all the laid off talent. Pay them pretty well. Give them good options. Prove a field out and sell to a big boy or keep growing like Echo for the eventual IPO and golden parachute. Just a different for both.

Just different missions.

Oil keeps going higher though, and we'll feel the weight of DVN CHK and CLR as they'll put their foot on the gas.

Pete
06-27-2018, 03:46 PM
I don't know much about Devon other than employees that I know expect more layoffs in the near future.

However, their stock is up more than 25% since Feb of this year.

gopokes88
06-27-2018, 03:53 PM
I don't know much about Devon other than employees that I know expect more layoffs in the near future.

However, their stock is up more than 25% since Feb of this year.

I've heard that too, but oil pushing into the 70s even with a supply increase from OPEC is starting to change minds about "lower for longer". The planned asset sales to pay down debt might not be quite as necessary when the amount of profits they're going to be to generate can do it. Their headcount for their size is on the higher end though. But the days of the "hey we made a billion dollars this quarter" might not be too far away either.

ChaseDweller
06-27-2018, 05:17 PM
I'm hearing that Warwick is moving into the building as well.

sooner88
06-27-2018, 06:10 PM
I'm hearing that Warwick is moving into the building as well.

They won't be, staying in the Heritage Trust.

chuck5815
06-27-2018, 08:06 PM
I'm hearing that Warwick is moving into the building as well.

I’ve heard some interesting things about Echo and Warwick’s relationship. And of course some of it isn’t good.

Johnb911
06-28-2018, 08:06 AM
Finally! Had heard this from an ex-SD buddy of mine and was waiting for confirmation. Will be good to have more folks down here, and see that building with some life in it.

dcsooner
06-28-2018, 08:31 AM
In terms of filling available building space, this is really robbing Peter to pay Paul. OKC companies are simply moving from one building to another. When they move, a vacant space results which can result in a net decrease in available square footage but does not provide much in terms of overall absorbsion of the cities overbuilt Class A and/or vacant class B spaces. NEW businesses to OKC is what will result in a decrease of empty or partially leased buildings.Good to have move workers DT though

Urbanized
06-28-2018, 09:20 AM
Good grief. It means this company is growing. That is ABSOLUTELY a good thing for OKC; that is, for homegrown companies to expand their presence. Your pervasive negativity even finds a way to discount the growth of local companies, as if it doesn’t count.

Corporate relocations from other cities is obviously something OKC should welcome and seek out, but in other than a very few destination cities they are too few and far between to be primary growth engines. Devon, Chesapeake, Paycom, plus many other large public and private companies in OKC and elsewhere had their respective beginnings as small offices of a dozen people or less. The expansion and emergence of local companies is nearly always something to be celebrated.

Pete
06-28-2018, 09:26 AM
Echo will take a good chunk of space as they need more and are growing.

They are also aggressively seeking other tenants and are also working hard to get the restaurant space operating and will be involved in programming Kerr Park.

This is a huge turn-up for downtown as there have been no workers in this spot since the Globe Life building was purchased a decade ago, and even before that I believe it was largely vacant.


BTW, it's time to turn up the heat on Rick Dowell. He's still blocking the sidewalk on his building next door and no work has happened there in a long time. He's now owned that property for TWENTY years. Completely dead and vacant in the heart of the CBD.

5alive
06-28-2018, 09:35 AM
I am so tired of a certain reporter that always says...Dowell works at his own pace, his own speed etc. etc. I so very much agree Pete...turn up the heat!!!

jedicurt
06-28-2018, 09:37 AM
BTW, it's time to turn up the heat on Rick Dowell. He's still blocking the sidewalk on his building next door and no work has happened there in a long time. He's now owned that property for TWENTY years. Completely dead and vacant in the heart of the CBD.

Pete, which building is that? granted I haven't been in DT for awhile but i'm drawing a blank

Pete
06-28-2018, 09:38 AM
^

Dowell does that because he is allowed.

This has become an absurd situation and the issue needs to be forced, especially with the streetcar set to run right by.

Pete
06-28-2018, 09:42 AM
Pete, which building is that? granted I haven't been in DT for awhile but i'm drawing a blank

Dowell Center is the building directly west of the Parkside Building.

I just looked back and Dowell set up that sidewalk obstruction -- which is still there today -- in October of 2016.

http://www.okctalk.com/images/pete/kerrpark061818a.jpg

HangryHippo
06-28-2018, 09:44 AM
Good grief. It means this company is growing. That is ABSOLUTELY a good thing for OKC; that is, for homegrown companies to expand their presence. Your pervasive negativity even finds a way to discount the growth of local companies, as if it doesn’t count.

Corporate relocations from other cities is obviously something OKC should welcome and seek out, but in other than a very few destination cities they are too few and far between to be primary growth engines. Devon, Chesapeake, Paycom, plus many other large public and private companies in OKC and elsewhere had their respective beginnings as small offices of a dozen people or less. The expansion and emergence of local companies is nearly always something to be celebrated.
Along these lines, it would have been a tremendous coup to get Paycom downtown. And MidFirst. I'm well aware neither will happen, but it would have been great for downtown vibrancy. Any word on if WeGoLook is going to stay downtown?


I am so tired of a certain reporter that always says...Dowell works at his own pace, his own speed etc. etc. I so very much agree Pete...turn up the heat!!!
THIS! It's absurd that he's given carte blanche and it's just accepted because "that's how he does things".

jedicurt
06-28-2018, 09:52 AM
Along these lines, it would have been a tremendous coup to get Paycom downtown. And MidFirst. I'm well aware neither will happen, but it would have been great for downtown vibrancy.

you are right in that Paycom never will... but I had it on pretty good authority that MidFirst was seriously looking DT a few years ago until the massive change at Chesapeake when Aubrey left, etc. I had heard (again, from someone I would think would know), that at that time, they were not sure if Chesapeake kept growing they way they were, that they were always going to be able to be where they were. So I was led to believe that they were looking at both the OPUBCO building and in DT, and then American Fidelity took OPUBCO, and Aubrey left Chesapeake and they felt more comfortable staying there... but if they were seriously looking before, why would they not eventually look again if the right situation came along?

Pete
06-28-2018, 09:59 AM
MidFirst ended up buying Chesapeake property on the cheap and now have room to grow as much as they want.

Very shrewd on their part.

And of course American Fidelity was looking downtown until OPUBCO decided to sell their complex at a price they couldn't pass up.

Both companies made very smart moves for their businesses.

PhiAlpha
06-28-2018, 10:00 AM
In terms of filling available building space, this is really robbing Peter to pay Paul. OKC companies are simply moving from one building to another. When they move, a vacant space results which can result in a net decrease in available square footage but does not provide much in terms of overall absorbsion of the cities overbuilt Class A and/or vacant class B spaces. NEW businesses to OKC is what will result in a decrease of empty or partially leased buildings.Good to have move workers DT though

Dude. Just stop. No one said this move was going to solve all employment and office vacancy issues for the entire city in one move. Putting a growing company in the heart of downtown helps downtown vibrancy and fills a vacancy in the cbd. It is a good thing for the city. Who knows, someone may quickly fill echo’s old space as it is most certainly class A and will be appealing to companies looking for suburban office space.

PhiAlpha
06-28-2018, 10:01 AM
Dowell Center is the building directly west of the Parkside Building.

I just looked back and Dowell set up that sidewalk obstruction -- which is still there today -- in October of 2016.

http://www.okctalk.com/images/pete/kerrpark061818a.jpg

With the current oversupply of downtown office space. I wonder why he hasn’t converted this to residential...seems like a much better plan than leaving it empty for another 20 years.

Pete
06-28-2018, 10:02 AM
Isn't Echo generally a young company as well?

Seems like they employ a lot of youngish people and that's always a good thing for downtown.

Pete
06-28-2018, 10:06 AM
BTW, it's now 23 years since Dowell bought that building.

Twenty. Three. Years.

PhiAlpha
06-28-2018, 10:06 AM
Isn't Echo generally a young company as well?

Seems like they employ a lot of youngish people and that's always a good thing for downtown.

Yes, both Echo and Warwick have fairly young average ages. The founders/CEO’s of both are in their mid-upper 30s.

jedicurt
06-28-2018, 10:11 AM
BTW, it's now 23 years since Dowell bought that building.

Twenty. Three. Years.

Wow, just Wow

dcsooner
06-28-2018, 10:13 AM
Good grief. It means this company is growing. That is ABSOLUTELY a good thing for OKC; that is, for homegrown companies to expand their presence. Your pervasive negativity even finds a way to discount the growth of local companies, as if it doesn’t count.

Corporate relocations from other cities is obviously something OKC should welcome and seek out, but in other than a very few destination cities they are too few and far between to be primary growth engines. Devon, Chesapeake, Paycom, plus many other large public and private companies in OKC and elsewhere had their respective beginnings as small offices of a dozen people or less. The expansion and emergence of local companies is nearly always something to be celebrated.

NOTHING in my post suggests this is not a GOOD thing and IS NOT NEGATIVE, just factual as it relates to absorbtion of city wide building space. My ONLY poiht was that intracity movement does not significantly reduce available lease space. Some people just want to paint ALL of my comments as Negative when the truth is they are simple evidence based observations. But hey, I really don't care

ditm4567
06-28-2018, 10:26 AM
With the current oversupply of downtown office space. I wonder why he hasn’t converted this to residential...seems like a much better plan than leaving it empty for another 20 years.

http://www.normantranscript.com/news/university_of_oklahoma/dowell-properties-divests-from-multifamily-market/article_298d54a5-1682-5a97-9449-b4f41f1c6c09.html

Looks like Dowell Properties left the residential market for good back in 2017.

“We’re now exclusively office leasing,”

shawnw
06-28-2018, 10:29 AM
I am so tired of a certain reporter that always says...Dowell works at his own pace, his own speed etc. etc. I so very much agree Pete...turn up the heat!!!

But it's very true based on the few meetings I've been in while he's there. It seems like the only thing he cares about is the numbers. No matter how much anybody talks to him about the great things going on around his properties, he seems to just want to know how much it's going to cost him and the justification to those costs. Again, my experience is limited to maybe ten meetings, but that's my observation.

ditm4567
06-28-2018, 10:37 AM
Dowell also owns the mansion on the corner of College Avenue and Cruce Street, just south of Boyd, in Norman. It is right behind the Catlett Parking Garage. That property looks like it has been empty for years. I lived down the street from it and anytime I walked by there was never anyone there.

Urbanized
06-28-2018, 10:42 AM
(paraphrased)...blah blah...bunch of denial of negativity and attempts to recast previous negative post as neutral, followed by claim of not really caring anyway, despite constantly posting here...blah blah blah...(paraphrased)

LOL. Well, we'll get right on making sure that every piece of economic news in OKC from now on involves a substantial company relocating its operations to OKC from somewhere else. And thanks for the insightful post that has now corrected our erroneous path of encouraging business start-ups and expansion of homegrown companies. What would we ever do without you?

hoya
06-28-2018, 10:46 AM
If you quote dcsooner, those of us who have him on ignore still end up seeing his posts.

Urbanized
06-28-2018, 10:54 AM
Oops my bad. I should probably just ignore him too but I try not to use that feature on anyone and just let my blood pressure meds do their work. Otherwise how would I know which posts to report? :)

Urbanized
06-28-2018, 10:59 AM
I fixed the quote, so now it should be more tolerable reading.