SandRidge Center & Commons

[UnFrSaKn]

July 1962

I didn't notice at first, but this shows the construction of the Globe Life Building, along with the expansion of the Dowell Center. It's actually taken on top of the India Temple, which now doesn't exist. At least in a pile of scrap somewhere or on the ground beneath it.

[wsucougz]

...Ward has a big chunk of skin in the game -- as of 14 January 2011, he held 23,304,114 common shares. SandRidge common shares were diluted by acquisitions (Arena), but they've been successful at tapping the capital debt markets, they have a prime asset base to grow off, and a strong hedge on oil (80% of their revenue now).

The 'whales' are following SandRidge, too. Perform a search for 'Prem Watsa SandRidge' (the Canadian Warren Buffett) -- he bought in cheap! Pickens also has a sizable position.


...tickers of interest: common shares, "SD" -- perpetual preferred 8.5% convertible, "SDRXP" -- **coming soon, SandRidge Mississippian Trust I, "SDT"

My guess is that Sandridge is going to be a rather large company in 5 years. They have nearly 1 million acres in the horizontal mississippian + 200k in the Permian along with "significant gas upside" via "world-class gas assets" that will start to be realized over the next couple years as U.S. rigs continue to come off gas. They plan to drill ~1000 new oil wells in 2011 alone.

Something that struck me on one of their calls - that they have future plans to develop vacant lots on broadway. Provided general market forces remain agreeable and they don't get bought out, Sandridge could be looking like Chesapeake II(The Wrath of Khan) in the near future.

[Pete]

Yes, from what I've read SR's business practices are very similar to CHK in terms of acquiring lots of assets and being aggressive in general. And like CHK, they carry a lot of debt which worries many. Of course, since Tom Ward helped found Chesapeake and is tight with Aubrey McClendon, there are bound to be similarities in their approaches.

I sincerely hope SandRidge is a wild success. If they can do half of what CHK & Devon have done for OKC, that would be incredible in itself.

[Kerry]

Something that struck me on one of their calls - that they have future plans to develop vacant lots on broadway. Provided general market forces remain agreeable and they don't get bought out, Sandridge could be looking like Chesapeake II(The Wrath of Khan) in the near future.

Here are their downtown plans. Notice the parking garage next to the tower is much taller than was is there now and also runs the entire block which is why I thought they would be tearing it down as well and building a new one. If this new garage extends to the site of the remaining portion of the I.T. building then I have no problem with its removal.

[Pete]

SR actually demolished a good portion of their existing garage that was west and north of the tower, so even expanding what remains to cover where India Temple once stood means they will be down parking spaces. And I'm sure even the original parking structure wasn't big enough for a full tower and Braniff building. Plus, the old Globe Life building has parking which will ultimately be lost when that building is replaced with the fitness center.

And of course, if they ever expand they will really need the parking. Think about the size of the Devon garage.

If and when they do rebuild the parking structure adding a bit of retail along Broadway would be a huge improvement to the concrete monolith that now exists.

that they have future plans to develop vacant lots on broadway

I wonder if the mysterious shaded structures in the graphic in Kerry's post might be parking garages with ground-level retail? Would make sense.

Just verified on the assessor's site that all those properties are owned by SandRidge. All three are currently surface parking.

[metro]

Pete, pretty sure they tore down or are in the process of tearing the rest of parking down. I drove by today and will post pics tomorrow.

[OSUMom]

SR actually demolished a good portion of their existing garage that was west and north of the tower, so even expanding what remains to cover where India Temple once stood means they will be down parking spaces. And I'm sure even the original parking structure wasn't big enough for a full tower and Braniff building. Plus, the old Globe Life building has parking which will ultimately be lost when that building is replaced with the fitness center.

And of course, if they ever expand they will really need the parking. Think about the size of the Devon garage.

If and when they do rebuild the parking structure adding a bit of retail along Broadway would be a huge improvement to the concrete monolith that now exists.




I wonder if the mysterious shaded structures in the graphic in Kerry's post might be parking garages with ground-level retail? Would make sense.

Just verified on the assessor's site that all those properties are owned by SandRidge. All three are currently surface parking.

The parking in the building across the street (the old Globe Life Building?) is almost unusable. When Globe still owned it and the garage was still open, rumor had it that only one of the car elevators still worked. The others couldn't be fixed because they were so old they couldn't get parts.

[betts]

I think one of the reasons the Skyway doesn't work is for precisely the same reason elevated walkways over highways don't work. People don't like to walk up and walk down. Out of sight is out of mind. I'm not really sure where the Skyway goes, also. It stops close to my son's house, but I didn't even know it was there for the longest time.

[Kerry]

I think one of the reasons the Skyway doesn't work is for precisely the same reason elevated walkways over highways don't work. People don't like to walk up and walk down. Out of sight is out of mind. I'm not really sure where the Skyway goes, also. It stops close to my son's house, but I didn't even know it was there for the longest time.

Now that there are three new highrise condos on the south end maybe ridership numbers will increase. I wish they could get rid of the fare on them while finding a way to keep the homeless from living in the cars.

[metro]

Drove by and took pics of the travesty yesterday, the gloomy weather echoed my sentiments towards Sandridge's plans. It appeared that all the parking north and west of the building is now gone and they are starting on the NE parking just north of India Temple. What a massive hole from certain angles (didn't capture the holes good in the photos since I was taking out my window while parked for most of them.

[Pete]

Thanks so much, metro.

However, I'm sure they are demolishing any part of the parking garage. The area that is open in the picture below (with the chain link fence) is where the north part of the parking structure connected. I'm sure they will patch it as construction advances.

[metro]

I could be wrong Pete, but it appeared that they were getting it ready for demo too. They had chain linked it and recently boarded it up on the north side and put construction demolition signs up. I'll try to get some better pics on a sunny day this week.

[cameron_405]

...took these in October (2010):

[dmoor82]

Does anyone know when The Sandridge towers light will be turned back on?The skyline at night looks alot better with them!

[Pete]

Here is a still from William's recent video showing slow progress on the demolition of the India Temple building:

[Kerry]

If they are going to enlarge the parking garage and it extend it to the corner as depicted in their model, I don't have an issue with the India Temple Building coming down.

[ultimatesooner]

what a beautiful site seeing those buildings coming down

[UnFrSaKn]

I thought I should mention as well, the March video is currently processing on Vimeo and will be up shortly. Keep an eye on it.

[Kerry]

SR actually demolished a good portion of their existing garage that was west and north of the tower, so even expanding what remains to cover where India Temple once stood means they will be down parking spaces. And I'm sure even the original parking structure wasn't big enough for a full tower and Braniff building. Plus, the old Globe Life building has parking which will ultimately be lost when that building is replaced with the fitness center.

And of course, if they ever expand they will really need the parking. Think about the size of the Devon garage.

If and when they do rebuild the parking structure adding a bit of retail along Broadway would be a huge improvement to the concrete monolith that now exists.




I wonder if the mysterious shaded structures in the graphic in Kerry's post might be parking garages with ground-level retail? Would make sense.

Just verified on the assessor's site that all those properties are owned by SandRidge. All three are currently surface parking.

If the model is to scale, the new garage next to the tower appears to be atleast 3 times taller than the current garage, and longer.

[UnFrSaKn]

I'll have screenshots up tonight after work.

[UnFrSaKn]

[okclee]

Do you think it is to early to have my kids birthday party at the Plaza?

[Larry OKC]

Better call and schedule it now...hear the dates are booking up fast!

[cameron_405]

...tickers of interest: common shares, "SD" -- perpetual preferred 8.5% convertible, "SDRXP" -- **coming soon, SandRidge Mississippian Trust I, "SDT"

SandRidge Mississippian Trust I Launches Initial Public Offering - Tuesday - 29 March 2011

"...the common units being offered to the public have been approved for listing on the New York Stock Exchange under the symbol “SDT,” subject to official notice of issuance..."

[CuatrodeMayo]

Does anybody know what is happening to the architectural detailing pieces (the cornice, for example)?

I suspect they are just heading to the landfill. I would sure like to take home some of that stonework.