3 E. Main St. in Bricktown sells!

[metro]

OKC executive successfully bids on Bricktown building
By Pamela Grady - 3/9/2007


Two minutes and 59 seconds is all it took this morning for Tim Elliott, president and CEO of Standley Systems, to make a winning net bid of $852,000 for the property at 3 E Main Street in Bricktown.


Only one other bidder made an offer on the building.


Elliott says his plans are to relocate offices from the company’s Northwest Expressway site, occupying the first floor, with plans to lease out the second and third floors after renovations.


“I’ve looked at every other place, and this is where we wanted to be,” Elliott said. “And so we came [prepared] to buy a building.”


Built in 1901, the three-story, 33,636-square-foot industrial loft building sits on about 0.3214 acres.


Elliott has retained Traditional Development Group to handle renovations of the property.


B.J. Dunn, director of construction for Traditional Development Group, said plans are to start the engineering process immediately.


“We’re turning this into the Standley System headquarters,” Dunn said. “We’ll be sand blasting the concrete and get it back down to the brick. We’re really planning on sprucing it up, putting in new windows throughout. In 30 to 45 days, we’ll start our engineering and submit it to the city.”


The permitting process will take about 45 to 60 days, after which time the construction process will begin.


Terms of the deal included 5 percent cash as down payment, which is $46,960, at the time of purchase with 30 days to close on the property. Dakil Real Estate Inc. handled the auction and Edmond attorney Randel Shadid was involved in handling the transaction.

[jbrown84]

Always good to see businesses relocating downtown from the burbs. Which building is this?

[warreng88]

Always good to see businesses relocating downtown from the burbs. Which building is this?

From EK Gaylord going south, if you take a left on Main Street, it is the first building on the left. It used to be big and gray, now the brick is painted red. Looks nice, I drove by it a couple of nights ago.

[warreng88]

Standley Systems renovates former Bricktown warehouse for new store
by Kirby Lee Davis
The Journal Record June 18, 2009

TULSA – Standley Systems will move its Oklahoma City and Tulsa stores downtown over the next year.

The Chickasha-based provider of business copiers and other electronic document management systems is renovating the 33,000-square-foot former Bricktown warehouse at 3 E. Main St. While the company is still working through electrical and mechanical needs for restoring the three-story building, Standley Chief Operating Officer Greg Elliott projected contractor Williford Construction of Oklahoma City would complete the $3 million-plus project within nine to 12 months, working from plans by Oklahoma City architect Sam Gresham.

Standley will then relocate its 2601 Northwest Expressway store to 7,500 square feet of the downtown Oklahoma City building, leasing the remainder as office and retail.

On a faster track, Standley contractors also are preparing about 3,000 square feet in downtown Tulsa’s 111 W. Fifth Building for the new home of its two-year-old Bixby store. Elliott hopes to shortly open the shop in temporary space at Kanbar Property’s former Manhattan Hotel building until the leased site comes online in mid-July or early August.

Elliott said these new locations should give Standley’s a chain of six stores that can effectively handle the entire Sooner State.

“We like the downtown idea,” said Elliott, who heads the 75-employee chain with his cousin, Standley Chief Executive Tim Elliott. “We’re just committed to seeing things revitalized and being at the center of what make things go. I like these central business districts and seeing downtowns flourish.”

While the Northwest Expressway store had served the company several years, Elliott said the Bixby location represented a small space used just to get the company into the Tulsa market. Moving that store downtown, among the government operations and business offices that comprise Standley’s primary clientele, will help the Tulsa location meet its goals.

The 75-year-old company has a history of adapting older structures. In Chickasha, Standley’s turned a former church site into its headquarters.

“It’s from the ground up, basically,” Greg Elliott said of the Bricktown renovation. “We’ve spent a lot of time on structural needs. You’re talking about a building that was a warehouse for groceries and pharmaceuticals for over 100 years.”

That puts their effort on the level with new construction pricing.

“The total project will probably be within the neighborhood of $3.2 (million) to $3.5 million when it’s complete,” he said, including the purchase price.

With its revenue down only 2 to 3 percent from 2007 levels, Elliott said the company enjoyed a strong 2008. Sales this year have tracked along the same lines.

He attributed that resilience in the face of recession to Standley’s service and supply revenue streams – and the continued demand for high-efficiency printers.

“Obviously there’s a lot of talk of a paperless office and everything,” he said. “We do a lot of scanning solution and office solution as well. I think that’s definitely going to be more prevalent in the future.

“On the other side of that, people still print and they still like to read and distribute print,” Elliott said. “Over the years it’s still easier and more efficient to do that on a mainframe-type machine.”

In a large office that becomes even more important, he said, with a few strategically placed and networked machines providing greater efficiencies than multiple desktop options.

“You really can control your costs that way, and that’s what I think people are starting to understand,” he said.

http://journalrecord.com/article.cfm?recid=99758

[metro]

http://newsok.com/bricktown-warehous...ad_story_title

[metro]

Glad to see they decided to allow retail in their building. Main St. needs some retail.

[so1rfan]

Here's an old article with pics from Steve's blog

More Stucco in Bricktown | OKC Central

This is the building between to the ACOG offices and the buffalo field.

[BG918]

We need more Greg Elliot's in this state! His views on renovating existing spaces and revitalizing downtown areas are spot on. And he backs it up by moving two locations to downtown OKC and Tulsa.