Someone mentioned this in a different thread, but I think it deserves it's own topic.
Bill White Sells Tulsa Portfolio for $1 Million: http://www.costar.com/News/Article.aspx?id=8D2EBF9A3148C57A2FE4A271FF368170&ref=1&src=rss (http://www.costar.com/News/Article.aspx?id=8D2EBF9A3148C57A2FE4A271FF368170&ref=1&src=rss)
By Sharon Iringan
July 22, 2009
Mark Larson of Larson Development LLC purchased a total of five buildings in Tulsa's business district from Bill White Co. for $1.07 million, or $15 per square foot.
The retail, office and industrial buildings are on the same block and total 69,353 square feet. They include the Bill White Chevrolet building at 401 S. Elgin Ave.; The Parkade at 408 S. Frankfort; The Harrison building at 418 S. Frankfort; City Tent & Awning at 415 E. 5th St.; and the Skelly Office/Warehouse at 414 E. 4th St.
The buyer plans to redevelop the properties. The seller owned them for more than 40 years.
Brian Hunt and Tony Aaronson with CB Richard Ellis/Oklahoma represented the seller. Alisha Bennett with McGraw Commercial Properties and Travis Skaggs with McGraw Davisson Stewart Realtors represented the buyer.
Frankly, anytime someone who has sat on property for 40+ years sells it off to a developer who intends to do something with it . . . it almost HAS to be a good thing. I anxiously await the details.
I've been poking around and asking questions. I've got my fingers crossed, as it sounds like the developer wishes to remodel/repurpose the buildings. (Restaurants, lofts, etc.)
Here are some photos, and some history...
Built in 1933 as an auto dealership. Streamline moderne style. Looking through the windows you can see some great terrazzo flooring, and interesting features. Word on the street is that it will be a restaurant on the ground floor, lofts above.
(http://farm4.static.flickr.com/3503/3798399369_d096336ae4.jpg)
Tulsa's first one-story building with rooftop parking. Built in 1949 for Fuller Chevrolet. This will soon be the home of Reclamation Station, an architectural salvage firm. They have signed a two year lease, but eventually, this building is also supposed to be rennovated by the new owners. (An old Tulsa Tribune article describes this building as "similar to many now being built in eastern cities where land is too valuable to be used exclusively for parking." !!!)
(http://farm4.static.flickr.com/3446/3799215644_eb78167354.jpg)
Not sure when this was built. Has served as Bill White's office in the past.
(http://farm3.static.flickr.com/2449/3798399453_786849bed3.jpg)
This little building was built in 1930. Too bad about the large garage door that was added.
(http://farm3.static.flickr.com/2442/3799215768_9c45dbc85e.jpg)
I love the awning company building. Built in 1935. It still has the original decorative tin ceiling inside.
(http://farm4.static.flickr.com/3546/3799262588_c5b7705027.jpg)
Not sure if this one's included or not. But I think it's cool. It's been an auto detail shop for a few years. Not sure of the history. Looks like it was a garage, or the service department for the old Chevy dealership?
(http://farm3.static.flickr.com/2451/3799215828_36103788c0.jpg)
One can only hope there is substantive re-development in a short time-frame. I'd like to be optimistic, but it's taken almost 30 years (and multiple changes in ownership) for the Mayo renovation to be completed, and the C(r)amelot was eventually torn down after poor stewardship from one owner to the next. These are but two examples of buildings being bought with the best of intentions which lay fallow for a number of years.
Not to deviate from the topic, but I wasn't too sad to see the Camelot come down. The concept was cheesy and past its time. The building was not overly well built.
Back ON topic:
Thanks a TON for those brief write ups. That's fantastic news that they will be redeveloped. Doing it in a large chunk like that has to add to the overall effectiveness of the project. Requiring less 'vision' to see the neighborhood coming around. I hope this comes around!
Quote from: PonderInc on August 07, 2009, 04:03:31 PM
Built in 1933 as an auto dealership. Streamline moderne style. Looking through the windows you can see some great terrazzo flooring, and interesting features. Word on the street is that it will be a restaurant on the ground floor, lofts above.
(http://farm4.static.flickr.com/3503/3798399369_d096336ae4.jpg)
I went to a dance party here once, maybe 3-4 years ago. The building looked like it needed extensive repairs on the inside. Hopefully, the fixes needed are only cosmetic. Definately excited to see what they will do.
So, Larson LLC?... out of state?
I've got a couple of guesses......
Quote from: PonderInc on August 07, 2009, 03:40:13 PM
Someone FOTD mentioned this in a different thread, but I think it deserves it's own topic.
Bill White Sells Tulsa Portfolio for $1 Million: http://www.costar.com/News/Article.aspx?id=8D2EBF9A3148C57A2FE4A271FF368170&ref=1&src=rss (http://www.costar.com/News/Article.aspx?id=8D2EBF9A3148C57A2FE4A271FF368170&ref=1&src=rss)
By Sharon Iringan
July 22, 2009
Mark Larson of Larson Development LLC purchased a total of five buildings in Tulsa's business district from Bill White Co. for $1.07 million, or $15 per square foot.
The retail, office and industrial buildings are on the same block and total 69,353 square feet. They include the Bill White Chevrolet building at 401 S. Elgin Ave.; The Parkade at 408 S. Frankfort; The Harrison building at 418 S. Frankfort; City Tent & Awning at 415 E. 5th St.; and the Skelly Office/Warehouse at 414 E. 4th St.
The buyer plans to redevelop the properties. The seller owned them for more than 40 years.
Brian Hunt and Tony Aaronson with CB Richard Ellis/Oklahoma represented the seller. Alisha Bennett with McGraw Commercial Properties and Travis Skaggs with McGraw Davisson Stewart Realtors represented the buyer.
New site for a big splash?
Don't get your hopes up. This the devil knows.
My little birdies tell me that they are going to make this a mixed use development with living above. It is going to take some time to get underway, they are filing for... ok my brain hasnt had dinner and is low on blood sugar... whatever it is that helps you rehabilitate old buildings and such and make it cheaper to do so lol. Which will help keep the costs down so that the living will be more affordable. Could be 2012 till something really gets going.
I am just glad it sounds like they are saving the look of the old buildings. Hoping the empty lots will get filled in with some stuff as well to round out the whole block. Sounds positive regardless.
Quote from: FOTD on August 07, 2009, 09:15:28 PM
It does?
Well, I am not seeing the negative. Or were you being sarcastic? lol
Quote from: TheArtist on August 07, 2009, 09:31:19 PM
Well, I am not seeing the negative. Or were you being sarcastic? lol
This queers a big homogeneous site....lol.
Quote from: TheArtist on August 07, 2009, 08:51:22 PM
My little birdies tell me that they are going to make this a mixed use development
How did those birdies fly all the way from Richmond?
FYI, the old recumbent bike shop on boston is becoming a restaurant too.
Quote from: USRufnex on August 07, 2009, 10:03:47 PM
How did those birdies fly all the way from Richmond?
;)
Quote from: FOTD on August 07, 2009, 09:52:45 PM
This queers a big homogeneous site....lol.
Well heck, you know the property values will go up then lol. :-*
Quote from: FOTD on August 07, 2009, 08:43:50 PM
New site for a big splash?
Don't get your hopes up. This the devil knows.
Thought you left. You must be the bad penny.
Quote from: FOTD on August 07, 2009, 09:15:28 PM
It does?
Not until you inserted your negative (self-imposed banned) donkey from the forum
Quote from: FOTD on August 07, 2009, 09:52:45 PM
This queers a big homogeneous site....lol.
It's been so much more pleasant around here without you
Quote from: swake on August 08, 2009, 12:27:13 AM
It's been so much more pleasant around here without you
Swake da snake....too bad. Truth teller reappears and all you evil white people get your panties in a bunch.
Quote from: FOTD on August 08, 2009, 01:19:19 AM
Swake da snake....too bad. Truth teller reappears and all you evil white people get your panties in a bunch.
You are a lot more whitey than me sweetheart. And regardless, it's not your politics I dislike, it's your behavior.
Quote from: swake on August 08, 2009, 08:41:37 AM
You are a lot more whitey than me sweetheart. And regardless, it's not your politics I dislike, it's your behavior.
Just curious....any problems with the lack of outrage by Republicans of their own methods of disruption and lies?
What about their behavior?
What about the behavior of those leaders that never fought wars but sent 100,000's to their death?
Please. Don't lecture on behavior. Not unless you plan to take the lead by example.
There goes another topic!
:'(
Quote from: FOTD on August 09, 2009, 03:34:45 PM
Just curious....any problems with the lack of outrage by Republicans of their own methods of disruption and lies?
What about their behavior?
What about the behavior of those leaders that never fought wars but sent 100,000's to their death?
Please. Don't lecture on behavior. Not unless you plan to take the lead by example.
How the fu*k did this creep into a topic on east end development? Take your crayons and go play on one of your deadhead forums sonny, they are used to this sort of non-sensical crap.
Quote from: Conan71 on August 09, 2009, 04:49:26 PM
How the fu*k did this creep into a topic on east end development? Take your crayons and go play on one of your deadhead forums sonny, they are used to this sort of non-sensical crap.
There is nothing left to discuss about this site and this old news.
The east end will not rear anytime soon. Real estate is in the toilet.
Unless you are Case and Associates. Those guys know their stuff.
I wish they would get on the ball and get these mixed use projects going downtown. I am tired of these guys just buying the land cheap as they can and doing nothing with it for years.
Quote from: OpenYourEyesTulsa on August 10, 2009, 12:36:53 PM
I wish they would get on the ball and get these mixed use projects going downtown. I am tired of these guys just buying the land cheap as they can and doing nothing with it for years.
Maybe they know how to make economic sense of a deal....
Prices downtown are too high for land. Bill White had over expectations for far too long. Had he sold his land in 1984 and invested it in bonds he'd have been way out in front of today's prices.
So, who is to blame for the slow growth in downtown?
Quote from: OpenYourEyesTulsa on August 10, 2009, 12:36:53 PM
I wish they would get on the ball and get these mixed use projects going downtown. I am tired of these guys just buying the land cheap as they can and doing nothing with it for years.
I don't get it either. I see developments going in all over the place in areas with much lower density (people per sq mile). Given the number of people that live within 3 miles of Downtown in all directions it would make sense that retail developments would do well in the core: The Home Depot downtown is one of the busiest in the chain.
Add to that the number of people that commute to downtown every weekday that would certainly shop during lunch or before or after work.
Or that given the opportunity downtown Tulsa could become a regional draw (just like OKC or even KSC).
Why would you want to sit on a property to maybe make money some day, when you could make serious jack right away.
The old DTU/Jim Nelson trope about the "chicken or the egg" doesn't hold any water (yes I mixed metaphores), when you see how many people are descending on downtown for entertainment these days. Imagine how many more would come for a mix of local and national shopping options on top of entertainment. A top notch shopping area that mixed both old and new construction with a hotel or two would certainly be an attraction.
We need some new players (with vision and bucks) I guess.
You need more disposable income in and around downtown....along with flexible owners of IDL land.
I wish Case would build some of his apartments in the East End instead of in BA and SW Tulsa. 3-4 story urban apartments with a parking garage in the center and that front the sidewalks would be a big hit in those empty lots east of Elgin.
http://www.tulsaworld.com/business/article.aspx?subjectid=32&articleid=20090807_32_E1_Anarch667285&archive=yes (http://www.tulsaworld.com/business/article.aspx?subjectid=32&articleid=20090807_32_E1_Anarch667285&archive=yes)
Quote from: SXSW on August 10, 2009, 03:02:37 PM
I wish Case would build some of his apartments in the East End instead of in BA and SW Tulsa. 3-4 story urban apartments with a parking garage in the center and that front the sidewalks would be a big hit in those empty lots east of Elgin.
+1
Quote from: SXSW on August 10, 2009, 03:02:37 PM
I wish Case would build some of his apartments in the East End instead of in BA and SW Tulsa. 3-4 story urban apartments with a parking garage in the center and that front the sidewalks would be a big hit in those empty lots east of Elgin.
If he'd get hip to something more Urban style, he'd be the right guy to get it done. Otherwise all his stuff is very suburban looking.
Totally un-related to Mike Case but, I thought the Metro Lofts concept would have looked far better in the East End than off Cherry St. Personally, I think they are a poor fit amongst craftsman bungalows and the older brick apartment buildings.
Quote from: FOTD on August 10, 2009, 01:34:10 PM
You need more disposable income in and around downtown....along with flexible owners of IDL land.
What does that mean? People in Maple Ridge, Tracy Park, Riverview, Owen Park and Brady Heights don't make enough money?
Those poor people getting all of their groceries from dumpsters, their clothes from the SA and their BMWs from the salvage yards.
Quote from: Conan71 on August 10, 2009, 03:07:16 PM
If he'd get hip to something more Urban style, he'd be the right guy to get it done. Otherwise all his stuff is very suburban looking.
Totally un-related to Mike Case but, I thought the Metro Lofts concept would have looked far better in the East End than off Cherry St. Personally, I think they are a poor fit amongst craftsman bungalows and the older brick apartment buildings.
If Case were to invest downtown he would need to hire some architects with contemporary design experience, or at least experience designing urban apartments and townhomes. He definitely has the capital to make it happen but I would still want to see it done right. The biggest issue I would have is the complex facing the sidewalks and concealed parking either in a center lot or garage. I think anything fronting Elgin should have some kind of retail space at street level but on streets like Frankfort, Kenosha, Lansing, etc. just having apartments would be MUCH better than what is there now.
Isn't this area the sight of the old Coliseum that burned down in the 1950's due to a lightning strike? My grandfather had many fond memories of that place. Have heard rumors that part of the old building is still below ground level...probably just hearsay.
The Coliseum was at 5th and Elgin and burned down in 1952. Many of these buildings predate the fire event.
Quote from: carltonplace on August 10, 2009, 03:28:14 PM
What does that mean? People in Maple Ridge, Tracy Park, Riverview, Owen Park and Brady Heights don't make enough money?
Those poor people getting all of their groceries from dumpsters, their clothes from the SA and their BMWs from the salvage yards.
It means density....not to be confused with Dense City.