Nichols Hills Executive Center

[Pete]

The Nichols Hills planning commission and city council have unanimously approved plans for a 5-story glass office building at the northeast corner of NW 63rd and Grand.

Currently, the site is occupied by the 2-story Nichols Hills Executive Center, which would be demolished for the new structure.

The property is owned by an LLC associated with Aubrey McClendon's American Energy Partners (AEP). OKCTalk has learned the building will be occupied by an affiliate of that company. Plans also call for a single living unit on the top level of building.

The site is directly adjacent to Nichols Hills Plaza, where two McClendon-owned restaurants, Provision Kitchen and Pops, are set to open this month. Directly to the south is the proposed shopping center proposed by Glimcher of Columbus, Ohio which will feature REI, other retail tenants, restaurants and apartments.

AEP is currently renting office space – ironically – in several buildings formerly occupied by Chesapeake Energy before they consolidated their workforce to their main campus. AEP currently houses employees at the Harvey Parkway, the Atrium Towers and other buildings on the northwest area of Oklahoma City. They are also nearing completion on a fitness center for employees at NW 67th and Classen and also have plans for a daycare center immediately adjacent.

McClendon owns large parcels of land on the northeast corner of Wilshire and Broadway Extension and plans have been developed for a large campus at that location. That project is currently on hold due to low energy prices.

The new building is budgeted at $11.7 million and work is scheduled to start in December, with construction taking about one year to complete.

Architects are AHMM of London.

[Pete]

Lots going on in the NW 63rd & Western area with plenty more to come.

[DoctorTaco]

Interesting to see AKM break out of his long-term relationship with Rand Elliot. And also interesting to see AHMM move beyond the urban core. This might be their biggest non-remodel project yet in the OKC Metro.

[Pete]

AHMM also designed the AEP fitness center and daycare and will be doing the work on the new AEP campus.

Rand has still done some work for AEP, notably the office interiors at the Atrium Towers and the HQ at the Harvey Parkway.

[Shooter McGavin]

I predict the existing structure will be torn down then the project will stall. Think of it as the new Pointe Vista Development for Aubrey.

[Spartan]

Why is Aubrey's new venture expanding when the rest of the industry is in shock?

[Pete]

This was in the works for a long time... Just now coming to fruition.


BTW, this building is already being dubbed the 'Flashcube'.

[Eddie1]

Why is Aubrey's new venture expanding when the rest of the industry is in shock?

My exact same thinking when reading this thread earlier today

[Bellaboo]

Why is Aubrey's new venture expanding when the rest of the industry is in shock?

Devon built a $750 million dollar complex in the most recent great recession. It's just the way the timeline fell.

[BG918]

What is AHMM's connection to OKC? Just curious how a London design form has done several projects in the area.

[Urbanized]

One of their associate directors is Wade Scaramucci, who is from OKC (and from a notable family here).

[Spartan]

This was in the works for a long time... Just now coming to fruition.


BTW, this building is already being dubbed the 'Flashcube'.

Gotcha. I just hope Aubrey doesn't start anything he can't finish. When he gets himself in a pickle he always tends to over-leverage just bc he can.

I will say though - $44 a barrel right now, and all of 2015 has been like this. This is way worse than when Devon was built.

[PhiAlpha]

Why is Aubrey's new venture expanding when the rest of the industry is in shock?

Contrary to popular belief and what is being reported, the entire energy industry is not in shock. Highly leveraged, publicly traded companies are having major problems, no doubt, but the many small to midsize companies are doing fine and even expanding. AEP is generally in that category, though I think they may be going a little too fast right now...time will tell.

[Plutonic Panda]

Pete, is this still on?

[Pete]

Yes, but not until energy prices come up a bit.

[Spartan]

So, no.

[Pete]

Noticed today this property had a for sale sign.

[Soonerinfiniti]

Looks like Price Edwards is going with a bid process for this property. I would think this would be a great location for a bank branch. It will be interesting to see if Glimcher tries to buy to add to their Nichols Hills holdings.

http://6403grand.com/propertdetails/

[Soonerinfiniti]

Noticed the parking lot is full of Oklahoma Highway Patrol vehicles this morning. Anybody know why?

[Mr. Cotter]

This building has the Midwest Wrecking markings on it now. Have plans been submitted for a replacement yet?

[Mr. Cotter]

It's coming down today.

[pw405]

Do we know what is going to be built here?

[Pete]

Do we know what is going to be built here?

It will be a new office building but final plans have yet to be submitted.

Should be soon.

[Mr. Cotter]

Is this spec space, or is a tenant lined up?

[Pete]

Is this spec space, or is a tenant lined up?

Believe it will be owner / occupied.