• SandRidge sells two key downtown lots

    SandRidge Energy continues to shed real estate as the last two surface lots they own downtown have changed hands.

    The two properties on either side of NW 4th on the west side of Broadway total 1.21 acres and sold for $3.07 million which equates to $2.54 million an acre.

    The buyer is an LLC which tracks back to Pete Wilson of Norman. Wilson owns Top of the World, a success manufacturer and distributor of casual hats. Wilson is also the developer of the 5-story building rising above campus Corner in Norman.

    Due to financial troubles, SandRidge has been liquidating real estate it inherited when it bought the assets of Kerr McGee. After renovating the 30-story tower and starting work on a large new building directly south, the company shifted gears and announced they would be selling all their property, including the tower, if the right buyers could be found.

    Over the last several years SandRidge has sold off several surface parking lots along Broadway to the north of their main campus, and this transaction leaves them with only the tower, the new Parkside Building (which is complete but sitting vacant) and a large parking garage to the east of the tower. Just last year, SandRidge also sold off the Braniff Building which they had extensively renovated and filled with new tenants.

    Pete Wilson could not be reached for comment regarding his plans for the newly acquired properties, however like most of downtown this area quite active.

    Red Primesteak is directly east as is the Markham Building which is just starting renovation. One of the large parcels SandRidge sold at 4th and E.K. Gaylord is slated for development with a rumored mid-rise structure and retail, the Journal Record building will soon start renovation and expansion which will included a structured parking garage, and the surrounding Automobile Alley, Deep Deuce, and Central Business districts all have scores of new projects underway or planned.
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