The old Bank of America drive-thru facility at 425 Robert S. Kerr has sold to local investors who are planning a building with retail, parking and offices.

The .7231 acre parcel was sold for $1.8 million to an LLC owned by Mazaheri Properties of Oklahoma City. Mazaheri owns the Bricktown Power Alley Parking Garage and several shopping centers and commercial properties primarily along the Memorial Road corridor.

When contacted, owner Fabriborz Mazaheri told OKCTalk that they may be interested in purchasing adjoining properties, which include a surface parking lot and a Bank of America storage facility. However, Mazaheri said that to date the current owners have not shown much interest in selling. It's interesting to note that the B of A storage property is owned by a separate entity from that which sold the drive-thru.

Mazaheri said very preliminary plans call for a structure of approximately 10 stories. As of yet, no tenants have been signed.



http://www.okctalk.com/images/pete/drive1.jpg

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

http://www.okctalk.com/images/pete/drive3.jpg

So, now that this property has sold and we know more about the plans, we can probably scratch one of the mystery towers off the list.

This certainly won't be a high rise but hopefully will be a quality urban development.

The small size and high cost of the parcel almost guarantee it will be built out to the property lines.

If they're only going 10 stories, it would be nice to see that lot to the east integrated as well. Maybe.

If they're only going 10 stories, it would be nice to see that lot to the east integrated as well. Maybe.

Meh…OKC needs to learn how to develop without using a whole block. Not saying I would be opposed to it, but this will be an important development for OKC. If they don't get the other two parcels, I'll be interested to see what they do with the East and West elevations. A good solid development here will likely spur the other two parcels to do something down the road.

We also need to learn how to do smaller scale development. 25 $2M projects is better than 2 $20M projects

Almost 3/4 of an acre is a pretty large foot print, which I'm sure actually counts to the middle of the street. This would roughly be 33,000 sq. ft., less the street utility and your looking at 25,000 sq. ft. You can put something of size on that space..?

Pete - no tenants have signed, but is the building full/planned, or is he seeking tenants? If so, what would be a good way to contact him about leasing space?

They will be seeking tenants.

They are just in the initial planning stages at this point.

I was hoping for a tower on this site and am a little disappointed that has turned out to not be the case. However, this still has the potential to be a wonderful urban development for OKC. Can't wait to see what actually gets proposed.

If people want height, they need to spread the word and encourage people to contact Mazaheri about interest. If he can line up tenants, he may consider going taller.

Meh…OKC needs to learn how to develop without using a whole block. Not saying I would be opposed to it, but this will be an important development for OKC. If they don't get the other two parcels, I'll be interested to see what they do with the East and West elevations. A good solid development here will likely spur the other two parcels to do something down the road.

We also need to learn how to do smaller scale development. 25 $2M projects is better than 2 $20M projects

I agree with this. Whole block assembly ruins downtowns. But if he can secure a corner, that's not a bad thing, and if the city can perhaps assist with the land acquisition, also not a bad thing. This could be a very nice development.

lets hope this turns out better than Mazaheri's property that used to be Steak & Ale up on Memorial & May. They took bids for a new concept up there over a year ago and well, you see what's still (not) there.

lets hope this turns out better than Mazaheri's property that used to be Steak & Ale up on Memorial & May. They took bids for a new concept up there over a year ago and well, you see what's still (not) there.

If they do nothing, we could put up a billboard for Arcadia's Round Barn right next to the former drive through! :wink: