BOK Park Plaza

[Pete]

Nothing much has changed since I made this graphic, apart from one more semi-occupied floor and Enable being purchased and almost certain to vacate:

[bombermwc]

So what does this say about the market for A space? If there's this much trouble getting the place filled, i'm thinking the demand is pretty low???

[BoulderSooner]

So what does this say about the market for A space? If there's this much trouble getting the place filled, i'm thinking the demand is pretty low???

this building is a complicated place to lease space in ..

[HangryHippo]

Downtown needs to be raiding the Memorial Rd. corridor…

[HangryHippo]

this building is a complicated place to lease space in ..

How so?

[Pete]

The main reason it is so empty is that Devon was planning on taking a big chunk and then ended up not even needing all the space in Devon Tower. I understand they are starting to open some of the dark floors in the tower, so perhaps they will eventually need space in this building.

It's always good to have a big chunk of Class A office space because it allows for a big move, either from outside OKC (like Continental) or just a shift away from lesser buildings which in turn often means redevelopment or repurposing (FNC, City Place, old BancFirst Building, etc.).

It sucks for the property owner, but Devon has deep pockets and can easily ride out shorter to mid-term vacancies.


The bottom line is that it's a beautiful building that is a great asset to downtown.

[Bits_Of_Real_Panther]

Who owns the building, the bank?

[Pete]

Who owns the building, the bank?

Devon.

[Jeepnokc]

Any buzz/rumors on filling the restaurant space with the great patio? Also, the website shows that some of the retail space is occupied. I wasn't aware of any retail in building unless this is maybe a BOK retail bank counter?

[Pete]

Nothing happening on the restaurant space or really any of the retail space in the building or in the two parking garages (apart from Hot Tamale which opened some time ago).

The retail space shown occupied is for BOK.

[HOT ROD]

i think well get there. Glad the focus right now downtown is on Park Avenue; we need to build it and make it successful then retail will spread out to Liberty/BankFirst and BOKPP.

[mattjank]

Nothing much has changed since I made this graphic, apart from one more semi-occupied floor and Enable being purchased and almost certain to vacate:

Is the semi occupied floor the firm Gable-Gotwals? They recently relocated from Leadership Square. They show up as Suite 2200

[Pete]

Is the semi occupied floor the firm Gable-Gotwals? They recently relocated from Leadership Square. They show up as Suite 2200

Yes.

[OkiePoke]

Energy Transfer is consolidating to 15-17, leasing out the other floors later this year.

[Bellaboo]

Energy Transfer is consolidating to 15-17, leasing out the other floors later this year.

Well good, at least they kept a presence. I was afraid everything would move to Dallas.

[Pete]

That consolidation will leave 8 floors occupied out of 27.

[Laramie]

The ground level floors must be very expensive per square foot; you would think some major company would take advantage of that space.

What's happening to Leadership Square--are companies not renewing their leases.

[Pete]

[bombermwc]

Honestly, i dont think we'll ever see Devon in this space. They have so much unused space and so many people are remote these days, they would just have to grow to such immense proportions to need anything over at the BOK, its insane.

Maybe Canoo needs some corporate space

[BoulderSooner]

Honestly, i dont think we'll ever see Devon in this space. They have so much unused space and so many people are remote these days, they would just have to grow to such immense proportions to need anything over at the BOK, its insane.

Maybe Canoo needs some corporate space

devon has very very few people as full time remote ..

[PhiAlpha]

devon has very very few people as full time remote ..

Yeah most that are required to be there 3 days/week or so.

[BoulderSooner]

Yeah most that are required to be there 3 days/week or so.

yep

[bombermwc]

Well that's even worse then, imo. Because a pretty good chunk of the energy center is empty. It would be easier to see that it was empty because people were at home. If they aren't even at home and its got that much dark space, then i have even less faith that they'll ever need BOK.

[Laramie]

Probably already mentioned; BOK Park Plaza would have been a good purchase for OG&E. OG&E could have used it for their headquarters.

But facing eventual lease renewal at the Corporate Tower, company officials began weighing their options, he said. "We explored the idea of buying a building or building a new building or renovating this building (on Harvey), and renovating this building was the least-cost option," Renfrow said. "It was really more of a matter of economics than anything, and in the meantime we had downsized."--Bob Vandewater,
October 12, 1998.

[HOT ROD]

or they can easily lease there.