Patrick
03-27-2007, 11:34 AM
Lower Bricktown marketing efforts underway for planned Building 7
http://okcbusiness.com/images/photos/B7B-north.jpg
Construction is on pace and further development is on its way in Lower Bricktown as developer Randy Hogan, principal partner of Stonegate-Hogan, has plans in place to develop the last remaining pad available north of Interstate-40.
Situated between Toby Keith’s I Love This Bar and Grill and Harkins Theatres, what’s currently dubbed Building 7 will provide approximately 11,000 square feet for retail on the first floor and another 11,000 square feet for office and entertainment space on the second floor.
This, Hogan says, is a combined effort with that of The Centennial mixed-use project, which -- on the retail side -- will provide for a little more than 12,000 square feet.
“A lot of this is about the synergy of the tenant mix, so that space becomes very important as we build a critical mass of entertainment, dining and retail,” Hogan said, adding that developing Building 7 would be predicated to pre-leasing at least 50-percent.
Efforts to recruit retail began just last week, he said, and so far “it looks very encouraging.”
“But we are going to be patient, because we want to get the right mix (of tenants) before we start on this,” Hogan said. “A few groups already are looking at it - a mix of local and regional groups.”
Two businesses scheduled to move in to The Centennial's retail space include Starbucks and King Pin Lanes bowling center. And the residential occupancy has just reached 65 percent. “Our goal is to bump 70 percent by the end of the month,” Hogan said of the one- and two-bedroom units ranging in price from $300,000 to $600,000 at a blended average of $288 per square foot and includes two underground parking spaces.
http://okcbusiness.com/images/photos/B7B-north.jpg
Construction is on pace and further development is on its way in Lower Bricktown as developer Randy Hogan, principal partner of Stonegate-Hogan, has plans in place to develop the last remaining pad available north of Interstate-40.
Situated between Toby Keith’s I Love This Bar and Grill and Harkins Theatres, what’s currently dubbed Building 7 will provide approximately 11,000 square feet for retail on the first floor and another 11,000 square feet for office and entertainment space on the second floor.
This, Hogan says, is a combined effort with that of The Centennial mixed-use project, which -- on the retail side -- will provide for a little more than 12,000 square feet.
“A lot of this is about the synergy of the tenant mix, so that space becomes very important as we build a critical mass of entertainment, dining and retail,” Hogan said, adding that developing Building 7 would be predicated to pre-leasing at least 50-percent.
Efforts to recruit retail began just last week, he said, and so far “it looks very encouraging.”
“But we are going to be patient, because we want to get the right mix (of tenants) before we start on this,” Hogan said. “A few groups already are looking at it - a mix of local and regional groups.”
Two businesses scheduled to move in to The Centennial's retail space include Starbucks and King Pin Lanes bowling center. And the residential occupancy has just reached 65 percent. “Our goal is to bump 70 percent by the end of the month,” Hogan said of the one- and two-bedroom units ranging in price from $300,000 to $600,000 at a blended average of $288 per square foot and includes two underground parking spaces.