Wow! No one has posted this yet?

Here goes:

Devon Energy expands First National Center presence

February 22, 2008

OKLAHOMA CITY – Devon Energy Corp. is expanding its office space in downtown Oklahoma City.

On Thursday, the energy company announced plans to increase its presence in the First National Center from 1 ½ floors to four floors. The expansion will give Devon 103,000 square feet of leased space at First National. First National was purchased by a California buyer in May 2006 for $21 million and is managed by Los Angeles-based Milbank Real Estate.

Devon has about 1,300 employees downtown with offices in the Devon Building, Chase Tower, Corporate Tower and First National. Klay Kimker, Devon’s manager of corporate services, said the company is in a period of rapid, company-wide growth.“ We have been pleased with the vision and direction of the new ownership of the building, so when the need arose to increase the size of our records and information departments, the natural choice was to take on more space at the First National Center,” Kimker said.

Since the purchase of the building in 2006, the new owners have started a slow-but-steady renovation process. To date, repairs and renovation have included new fire, life and safety systems, fire sprinkler installations and numerous internal repairs to the nearly 1 million square feet of space.

Emily Dobson, property manager at First National, said Devon is currently on the entire second floor and part of the third floor in the center’s east building. The expansion will give Devon floors two through five in that building.

Zach Martin, with Sperry Van Ness, represented Milbank and Tim Relyea, with Cushman & Wakefield, represented Devon in the lease transaction. Dobson said Milbank plans to announce a multimillion-dollar renovation plan for the building on March 12, but could not give advance details.

She said Devon has helped the building’s momentum and people’s image for the potential of the building.“Milbank is in the process of getting ready to deliver what we’ve promised,” she said. “By Devon taking more space here at First National, that shows the community that we’re the real deal.”

Brett Hamm, president of Downtown OKC Inc., said the expansion is further proof of Devon’s commitment to downtown Oklahoma City. “Devon is a tremendous success for not only Oklahoma City but especially downtown,” Hamm said. “Perhaps part of the greatest asset of having Devon downtown is Larry Nichols, and their executive team, that continues to be personally involved in growing downtown and our state.”

The increased presence of Devon at First National, and additional foot traffic between Devon’s offices, could also spell success for merchants in First National.

Tim Sisson, owner of The Buzz, a coffee shop at First National for more than a decade, said he started seeing more Devon employees frequent the shop after the company expanded to neighboring buildings in the past few years.“I noticed a big influx of people immediately when they moved into Corporate Tower,” Sisson said. “So if they’re expanding here, I’m really excited about that.”Dobson said Devon has not said exactly when it will move in to the additional space.


Red lights glow on the outside walls of the First National Center in downtown Oklahoma City. Devon Energy Corp. announced Thursday plans to increase its presence in the building. The expansion will give Devon 103,000 square feet of leased space in the First National Center. The company also has offices in three other downtown buildings. (Photo by Jennifer Pitts)

I hope the additional rent will go towards the improvements.

"Multimillion-dollar renovation" does not sound very ambitious... I'm hoping they spend more like $50 million to return that building and complex to it's former glory. And that might not even be enough.

I hope you're right Pete, in that they spend tens of millions restoring it. It would be nice to see that much out of state money invested in downtown. Keep in mind $50 million in OKC would do alot, heck the Skirvin was gutted and redone for $52 million. I don't think First National needs any asbestos abatement, and they 've already gutted the east wing and put in new sprinklers, fire, and safety features as well as some exterior upgrades. Either way, the March 12th announcement will be long awaited and welcomed.