6 SE 4th
status= for sale
owner= Producers Coop
cost= $105 million sales price
acreage= 37.75
other= currently operating plant

http://www.okctalk.com/images/pete/coopwiki1.jpg

Information & Latest News
1/31/09: Cotton seed mill mulls moving (http://newsok.com/oklahoma-city-seed-mill-mulls-moving/article/3342150)
10/24/08: Mill expands (http://newsok.com/co-op-oil-mill-plants-seeds-for-growth-with-expansion/article/3314921)
Links
Official Website (http://www.producerscoop.net/)
Gallery

Even though there are posts scattered all over the site about this property, I created a new thread/article to consolidate the most relevant information, especially because there are always lots of questions about it.

BTW, I don't see any signs of the cooperative moving to the old Firestone plant and suspect they are waiting to sell this property first.

There has been no activity at the old tire plant and I couldn't find any building permits.

From a Case Study about the Co-op - Interesting

The Relocation Decision

The Producers Cooperative purchased the former Bridgestone/ Firestone Dayton Tire
factory near SW 25th Street and Council Road in 2009 for $14M. The facility which was located
on the outskirts of Oklahoma City included more than 1 million square feet under roof and 170
acres of land. PCOM CEO Gary Conkling described the rationale in a January 31, 2009 press
release.
We considered moving to southwest Oklahoma, the heart of Oklahoma cotton-growing
country. Access to rail service and interstate highways tipped the decision to move to the
industrial sector of southwest Oklahoma City…It could take four or five years for
Producers Cooperative to relocate. All we're really doing is planning for the future.
We've kind of looked for land for several years”
In February 2010, PCOM officially put their 43 acre downtown facility up for sale at an
asking price of $120M.

I thought they hadn't moved anything yet. Are they still asking $120M for it?

$105 million is the latest I have seen.

That is still well over $2 million an acre, which is more than Rainey Willaims paid for the Stage Center parcel.

And of course, this property is likely to need all types of toxic cleanup.

There is simply too much land there at too high of a price. It's a snowball effect to get a return on investment. In order to justify the enormous land and site prep costs, you have to have a huge development, which is vastly more expensive, which creates a harder to achieve ROI. Downtown land is not that valuable yet. Especially in that area.

It's really not that great of property... None of it fronts on the new boulevard, you've got railroad tracks to the east, the interstate to the south and industrial properties that are under separate ownership to the north.

And access isn't that great via car.

I don't think they could sell for 1/3 what they are asking.

http://www.okctalk.com/attachments/development-buildings/6253d1390321855-producers-cooperative-oil-mill-coop3.jpg

It would be cool to develop it and extend the canal into it. Wishful thinking, but a guy can dream can't he?

It's probably much more likely for the property to be sold and then divided up and then sold off in pieces for development. A huge development like a casino/resort could take up the entire thing but more practical stuff would take up much less.

Gary Gregory just threw out that giant asking price because he hoped the city would select it for the convention center. I doubt the Co-op people came up with that number. And if he asked for $120mil, he probably figured he could maybe get $60mil for it. He is just a broker and a salesman hoping for a big pay day. The city obviously went with another location for convention center and the co-op needs to price it no more than $30mil if they want a realistic chance of selling. Even then Im not sure there would be any buyers.

I don't get why people think that is such a horrible location. It's pretty much fronting the new boulevard, directly across from Lower Bricktown. This is a prime location that could be put to good use.

I don't get why people think that is such a horrible location. It's pretty much fronting the new boulevard, directly across from Lower Bricktown. This is a prime location that could be put to good use.

It's NOT fronting the boulevard.

It's NOT fronting the boulevard.

It would be in Tulsa.

It would be in Tulsa.

:evilsmile:evilsmile:evilsmile

It would be in Tulsa.

Full on, laugh out loud hilarious.

It's really not that great of property... None of it fronts on the new boulevard, you've got railroad tracks to the east, the interstate to the south and industrial properties that are under separate ownership to the north.

And access isn't that great via car.

I don't think they could sell for 1/3 what they are asking.

An eminent domain process certainly would be interesting over this property not that it is likely. The brownfield clean up costs are potentially very large and would significantly impact that value.

Barring a MAPS 5 vote for a new NFL stadium in like 2030, this will be the last big chunk of downtown property to be redeveloped. It's too much land to absorb all at once. Nobody has a development that's big enough You'll see Core to Shore finish, with growth all along the river. Every empty space between the CBD and Midtown will be full, probably stretching up to 23rd. Capitol Hill will see investment. The Farmer's Market area will fill out, down into Stockyards City. The Health Sciences area will connect with Deep Deuce. And the Cotton Mill will still be there.

That's because all those other areas can develop one piece at a time. The Cotton Mill will require a huge buyer with a lot of money to spare, because it all has to go at once. We either do it with one big MAPS project or we wait.

It would be in Tulsa.

I don't get it.

I don't get why people think that is such a horrible location. It's pretty much fronting the new boulevard, directly across from Lower Bricktown. This is a prime location that could be put to good use.

Have you seen the design for said new boulevard?

You can pretty much wipe off billions of dollars in real estate valuations...

I don't think the boulevard is the reason this isn't worth $120 Mil, or even close. You could drop I40 at its doorstep and it wouldn't be worth it.

This seems like the perfect spot for a sports complex. Football/soccer stadium, eventual location for replacement of Chesapeake arena. Parking could be used for multiple venues and access by rail, street etc. could be easily be made. Nearby boulevard and 1-40 entrances/exits and 1-235, as well as proximity of I35 would seem to make it well situated. Hotel for river sport attendee's could be supported. Bricktown would benefit big time.

Have you seen the design for said new boulevard?

You can pretty much wipe off billions of dollars in real estate valuations...

Pure comedy

I don't get why people think that is such a horrible location. It's pretty much fronting the new boulevard, directly across from Lower Bricktown. This is a prime location that could be put to good use.

I'll take your quote and change it a little. Any property that size so close to a booming downtown, a stone's throw from the home of the NBA Thunder, runs along one of the busiest east-west interstates in America, is a few blocks from one of the busiest north-south interstates in the country, and is basically just lower-lower Bricktown...that's a horrible location?

I don't think the boulevard is the reason this isn't worth $120 Mil, or even close. You could drop I40 at its doorstep and it wouldn't be worth it.

This seems like the perfect spot for a sports complex. Football/soccer stadium, eventual location for replacement of Chesapeake arena. Parking could be used for multiple venues and access by rail, street etc. could be easily be made. Nearby boulevard and 1-40 entrances/exits and 1-235, as well as proximity of I35 would seem to make it well situated. Hotel for river sport attendee's could be supported. Bricktown would benefit big time.

Hey...why doesn't someone call Boone Pickens? Athletic Village II. :p

Absolutely no one called it a horrible location.

It's simply not worth anywhere near what they are asking, which is why it's been for sale for several years.

I'll take your quote and change it a little. Any property that size so close to a booming downtown, a stone's throw from the home of the NBA Thunder, runs along one of the busiest east-west interstates in America, is a few blocks from one of the busiest north-south interstates in the country, and is basically just lower-lower Bricktown...that's a horrible location?

I agree. The co-op isn't a bad location at all. It's a prime location for a major development.

I definitely like the idea of the future soccer stadium going on it, but don't see Prodigal having the deep pockets necessary for even the suggested $30M price tag... If you did make it your future "stadium district" by anticipating the future basketball arena would go here, then the city could justify buying (or swapping) a big portion of that land for future use. They could acquire enough for both the soccer and basketball venues (perhaps via eminent domain) and lease back land to prodigal for their stadium maybe? Just thinking out loud...

Pure comedy

ODOT's blvd design? Comedic only in the sense they think it is good......

Probably the only way this property gets developed anytime soon is that the co-op people get motivated to move, drop their price by a ton and sell to someone who does some development and then sells off smaller parcels to other developers.

That buyer would then have to do the clean-up probably, which would help justify them marking it back up to a higher price per acre, right?

ODOT's blvd design? Comedic only in the sense they think it is good......

That is wipes out billions of dollars in real estate value

I agree with Rover, I think this site would actually be the best candidate for a new sports arena complex when the time for the city to replace the Peake comes.

That buyer would then have to do the clean-up probably, which would help justify them marking it back up to a higher price per acre, right?

Why do you, and others, suggest that there would be cleanup? They make cooking oil from plants. Its not some oil refinery. Granted I have no idea on the goings-on at the co-op but is it guaranteed to be dirty and require cleanup?

Why do you, and others, suggest that there would be cleanup? They make cooking oil from plants. Its not some oil refinery. Granted I have no idea on the goings-on at the co-op but is it guaranteed to be dirty and require cleanup?

The co-op was built during WWII. Anyone know what was there before it was built ?

I don't speak from any knowledge, but just presumed that as with almost any long-time industrial site there would be some sort of clean-up involved...

Why do you, and others, suggest that there would be cleanup? They make cooking oil from plants. Its not some oil refinery. Granted I have no idea on the goings-on at the co-op but is it guaranteed to be dirty and require cleanup?

They make more than just cooking oil; also biofuel and several other things.

Almost all manufacturing sites require some sort of cleanup, especially those as old as this one (70 years).

So what is north of the co-op? Have they ever shown any interest in selling?

Asking almost $3MM an acre? Sounds like someone has been smoking too many cotton seeds!

It would be in Tulsa.

Lol, what about in Charlotte or Austin?

Lol, what about in Charlotte or Austin?

High rise, pushed to the street, with an address in Heaven! /swoons

So what is north of the co-op? Have they ever shown any interest in selling?

Already sold, well, under contract.

Already sold, well, under contract.

Really? Sold to who?

I know that it is a moot point and I know that the land is split up between different owners, but it would have been cool if the lumber yard could have been redeveloped into the convention center hotel. The hotel could have been designed with good street level interaction and with its proximity to Bricktown, I think it would have worked well.

The convention center could have been built just south of the hotel using the north end of the Oil Mill property and a new athletic stadium could be have been built just to the south of the convention center. This would have eliminated any superblocks that will be built for the convention center and for any stadium (as the railroad tracks and I-40 would form at least two of the perimeters of the complex).

Those are some good points. I still contend that we can build a convention center and a hotel without creating another superblock, but it looks like that ship has sailed. As for a stadium, sadly nothing inspires me with the confidence that we will do it well from an urban planning perspective. I think you're right that this particular site would have been well suited for those projects -- and especially with the way OKC will approach them.

Guess I'm in the severe minority here. I like it and think it should stay.

Tons of potential for that space.

Tons of potential for that space.

There really is. For comparison, here is what San Antonio did with a similar industrial space, the Pearl Brewery: Abandoned Pearl Brewery Adapted Into Vibrant Mixed-Use Project in San Antonio | Inhabitat - Sustainable Design Innovation, Eco Architecture, Green Building (http://inhabitat.com/abandoned-pearl-brewery-adapted-into-a-vibrant-mixed-use-project-in-san-antonio/)

There are offices, condos, apartments, live-work units, restaurants and bars, weekend farmers markets -- it's just an outstanding reworking of the area.

Lol, what about in Charlotte or Austin?

Well Charlotte or Austin wouldn't have something that ugly and smelly right in the middle of their downtown. If the Co-op were in downtown Austin or Charlotte it would have been partitioned and sold to developers years ago. From what I've read here selling the property is the primary roadblock. It's harsh and you can bash me all you want for saying it but it's the truth. I am all for preserving stuff that is unique to OKC in a positive way, but the Co-op downtown is a negative. It's ugly, confirms the perception most Americans have of this city, and it will likely prevent quality development around it as long as it remains.


There really is. For comparison, here is what San Antonio did with a similar industrial space, the Pearl Brewery: Abandoned Pearl Brewery Adapted Into Vibrant Mixed-Use Project in San Antonio | Inhabitat - Sustainable Design Innovation, Eco Architecture, Green Building (http://inhabitat.com/abandoned-pearl-brewery-adapted-into-a-vibrant-mixed-use-project-in-san-antonio/)

There are offices, condos, apartments, live-work units, restaurants and bars, weekend farmers markets -- it's just an outstanding reworking of the area.

Cool concept, but I don't think it would work with the Co-op. The brewery has better bones. Something like that would have been perfect for the Belle Isle power plant rather than demolishing it to build a Wal-Mart. The Co-op is primarily steel buildings that would be difficult to repurpose for anything other than dirty industry.

Well Charlotte or Austin wouldn't have something that ugly and smelly right in the middle of their downtown. If the Co-op were in downtown Austin or Charlotte it would have been partitioned and sold to developers years ago. From what I've read here selling the property is the primary roadblock. It's harsh and you can bash me all you want for saying it but it's the truth. I am all for preserving stuff that is unique to OKC in a positive way, but the Co-op downtown is a negative. It's ugly, confirms the perception most Americans have of this city, and it will likely prevent quality development around it as long as it remains.



Cool concept, but I don't think it would work with the Co-op. The brewery has better bones. Something like that would have been perfect for the Belle Isle power plant rather than demolishing it to build a Wal-Mart. The Co-op is primarily steel buildings that would be difficult to repurpose for anything other than dirty industry.

With all the bashing, let's remember this is Oklahoma City history that's still up, running and employing some 200 people. I think it's pretty cool to have this industrial facility still in business (where they've been for 61 years). It may not be Boeing, but by golly, they've put a lot of food on the table of Oklahoman's who have worked there through the decades.
About Producers Cooperative Oil Mill (http://www.producerscoop.net/index.php/about-pcom)

Cool concept, but I don't think it would work with the Co-op. The brewery has better bones. Something like that would have been perfect for the Belle Isle power plant rather than demolishing it to build a Wal-Mart. The Co-op is primarily steel buildings that would be difficult to repurpose for anything other than dirty industry.

You're right that this is an area that will have to be razed, cleaned up, and built anew. I certainly am not suggesting that we adaptively reuse those hideous structures on the site :)

The point I was making is that there are ways to integrate unused, disconnected industrial sites back into the urban fabric. The Pearl Brewery provides an excellent template to follow.

With all the bashing, let's remember this is Oklahoma City history that's still up, running and employing some 200 people. I think it's pretty cool to have this industrial facility still in business (where they've been for 61 years). It may not be Boeing, but by golly, they've put a lot of food on the table of Oklahoman's who have worked there through the decades.
About Producers Cooperative Oil Mill (http://www.producerscoop.net/index.php/about-pcom)

Yeah I have no desire to see it out of business and the people out of work. I simply think it should be relocated.

And weren't people saying that the mill was actually looking to sell and move somewhere else? If they move, it should not sit there empty just for the look of it.

LOL. Saving old decrepit buildings is good. Saving old decrepit industry is not. Where are all our preservationists? There is a significant history with this business and facility in OKC. Is that important, or do we clear it for a perceived better use?

Not that the buildings are even remotely similar, but for the sake of argument, couldn't the Fred Jones Building be defined as old decrepit industry?

Not everything old is gold.

Don't forget the putrid STENCH that emits from this place.

There's nothing quite like opening your windows in Midtown on a nice spring day, only to have your entire apartment smell like burnt fried chicken and yeast within 15 minutes.

I think the dog food cooking plant a little further south adds to the perfume of OKC negatively, too.

Every time I see this property I think about Victory Park in Dallas and what it has become. If I remember correctly, VP occupies about 75 acres that was formerly a polluted rail yard/power plant -- so about twice the size of the Mill property here in OKC.

6302

Hopefully we'll never be so unlucky as to get an OKC version of Victory Park.

I was wondering who the first person would be to chide VP. It's easy to criticize when you don't have the frame of reference of what that property looked like compared to what it is now. It definitely has its problems but it is FAR better than the sad state it was in 15 years ago.


Hopefully we'll never be so unlucky as to get an OKC version of Victory Park.