Parkside Building

[Pete]

I don't know much about Devon other than employees that I know expect more layoffs in the near future.

However, their stock is up more than 25% since Feb of this year.

[gopokes88]

I don't know much about Devon other than employees that I know expect more layoffs in the near future.

However, their stock is up more than 25% since Feb of this year.

I've heard that too, but oil pushing into the 70s even with a supply increase from OPEC is starting to change minds about "lower for longer". The planned asset sales to pay down debt might not be quite as necessary when the amount of profits they're going to be to generate can do it. Their headcount for their size is on the higher end though. But the days of the "hey we made a billion dollars this quarter" might not be too far away either.

[ChaseDweller]

I'm hearing that Warwick is moving into the building as well.

[sooner88]

I'm hearing that Warwick is moving into the building as well.

They won't be, staying in the Heritage Trust.

[chuck5815]

I'm hearing that Warwick is moving into the building as well.

I’ve heard some interesting things about Echo and Warwick’s relationship. And of course some of it isn’t good.

[Johnb911]

Finally! Had heard this from an ex-SD buddy of mine and was waiting for confirmation. Will be good to have more folks down here, and see that building with some life in it.

[dcsooner]

In terms of filling available building space, this is really robbing Peter to pay Paul. OKC companies are simply moving from one building to another. When they move, a vacant space results which can result in a net decrease in available square footage but does not provide much in terms of overall absorbsion of the cities overbuilt Class A and/or vacant class B spaces. NEW businesses to OKC is what will result in a decrease of empty or partially leased buildings.Good to have move workers DT though

[Urbanized]

Good grief. It means this company is growing. That is ABSOLUTELY a good thing for OKC; that is, for homegrown companies to expand their presence. Your pervasive negativity even finds a way to discount the growth of local companies, as if it doesn’t count.

Corporate relocations from other cities is obviously something OKC should welcome and seek out, but in other than a very few destination cities they are too few and far between to be primary growth engines. Devon, Chesapeake, Paycom, plus many other large public and private companies in OKC and elsewhere had their respective beginnings as small offices of a dozen people or less. The expansion and emergence of local companies is nearly always something to be celebrated.

[Pete]

Echo will take a good chunk of space as they need more and are growing.

They are also aggressively seeking other tenants and are also working hard to get the restaurant space operating and will be involved in programming Kerr Park.

This is a huge turn-up for downtown as there have been no workers in this spot since the Globe Life building was purchased a decade ago, and even before that I believe it was largely vacant.


BTW, it's time to turn up the heat on Rick Dowell. He's still blocking the sidewalk on his building next door and no work has happened there in a long time. He's now owned that property for TWENTY years. Completely dead and vacant in the heart of the CBD.

[5alive]

I am so tired of a certain reporter that always says...Dowell works at his own pace, his own speed etc. etc. I so very much agree Pete...turn up the heat!!!

[jedicurt]

BTW, it's time to turn up the heat on Rick Dowell. He's still blocking the sidewalk on his building next door and no work has happened there in a long time. He's now owned that property for TWENTY years. Completely dead and vacant in the heart of the CBD.

Pete, which building is that? granted I haven't been in DT for awhile but i'm drawing a blank

[Pete]

^

Dowell does that because he is allowed.

This has become an absurd situation and the issue needs to be forced, especially with the streetcar set to run right by.

[Pete]

Pete, which building is that? granted I haven't been in DT for awhile but i'm drawing a blank

Dowell Center is the building directly west of the Parkside Building.

I just looked back and Dowell set up that sidewalk obstruction -- which is still there today -- in October of 2016.

[HangryHippo]

Good grief. It means this company is growing. That is ABSOLUTELY a good thing for OKC; that is, for homegrown companies to expand their presence. Your pervasive negativity even finds a way to discount the growth of local companies, as if it doesn’t count.

Corporate relocations from other cities is obviously something OKC should welcome and seek out, but in other than a very few destination cities they are too few and far between to be primary growth engines. Devon, Chesapeake, Paycom, plus many other large public and private companies in OKC and elsewhere had their respective beginnings as small offices of a dozen people or less. The expansion and emergence of local companies is nearly always something to be celebrated.

Along these lines, it would have been a tremendous coup to get Paycom downtown. And MidFirst. I'm well aware neither will happen, but it would have been great for downtown vibrancy. Any word on if WeGoLook is going to stay downtown?

I am so tired of a certain reporter that always says...Dowell works at his own pace, his own speed etc. etc. I so very much agree Pete...turn up the heat!!!

THIS! It's absurd that he's given carte blanche and it's just accepted because "that's how he does things".

[jedicurt]

Along these lines, it would have been a tremendous coup to get Paycom downtown. And MidFirst. I'm well aware neither will happen, but it would have been great for downtown vibrancy.

you are right in that Paycom never will... but I had it on pretty good authority that MidFirst was seriously looking DT a few years ago until the massive change at Chesapeake when Aubrey left, etc. I had heard (again, from someone I would think would know), that at that time, they were not sure if Chesapeake kept growing they way they were, that they were always going to be able to be where they were. So I was led to believe that they were looking at both the OPUBCO building and in DT, and then American Fidelity took OPUBCO, and Aubrey left Chesapeake and they felt more comfortable staying there... but if they were seriously looking before, why would they not eventually look again if the right situation came along?

[Pete]

MidFirst ended up buying Chesapeake property on the cheap and now have room to grow as much as they want.

Very shrewd on their part.

And of course American Fidelity was looking downtown until OPUBCO decided to sell their complex at a price they couldn't pass up.

Both companies made very smart moves for their businesses.

[PhiAlpha]

In terms of filling available building space, this is really robbing Peter to pay Paul. OKC companies are simply moving from one building to another. When they move, a vacant space results which can result in a net decrease in available square footage but does not provide much in terms of overall absorbsion of the cities overbuilt Class A and/or vacant class B spaces. NEW businesses to OKC is what will result in a decrease of empty or partially leased buildings.Good to have move workers DT though

Dude. Just stop. No one said this move was going to solve all employment and office vacancy issues for the entire city in one move. Putting a growing company in the heart of downtown helps downtown vibrancy and fills a vacancy in the cbd. It is a good thing for the city. Who knows, someone may quickly fill echo’s old space as it is most certainly class A and will be appealing to companies looking for suburban office space.

[PhiAlpha]

Dowell Center is the building directly west of the Parkside Building.

I just looked back and Dowell set up that sidewalk obstruction -- which is still there today -- in October of 2016.

With the current oversupply of downtown office space. I wonder why he hasn’t converted this to residential...seems like a much better plan than leaving it empty for another 20 years.

[Pete]

Isn't Echo generally a young company as well?

Seems like they employ a lot of youngish people and that's always a good thing for downtown.

[Pete]

BTW, it's now 23 years since Dowell bought that building.

Twenty. Three. Years.

[PhiAlpha]

Isn't Echo generally a young company as well?

Seems like they employ a lot of youngish people and that's always a good thing for downtown.

Yes, both Echo and Warwick have fairly young average ages. The founders/CEO’s of both are in their mid-upper 30s.

[jedicurt]

BTW, it's now 23 years since Dowell bought that building.

Twenty. Three. Years.

Wow, just Wow

[dcsooner]

Good grief. It means this company is growing. That is ABSOLUTELY a good thing for OKC; that is, for homegrown companies to expand their presence. Your pervasive negativity even finds a way to discount the growth of local companies, as if it doesn’t count.

Corporate relocations from other cities is obviously something OKC should welcome and seek out, but in other than a very few destination cities they are too few and far between to be primary growth engines. Devon, Chesapeake, Paycom, plus many other large public and private companies in OKC and elsewhere had their respective beginnings as small offices of a dozen people or less. The expansion and emergence of local companies is nearly always something to be celebrated.

NOTHING in my post suggests this is not a GOOD thing and IS NOT NEGATIVE, just factual as it relates to absorbtion of city wide building space. My ONLY poiht was that intracity movement does not significantly reduce available lease space. Some people just want to paint ALL of my comments as Negative when the truth is they are simple evidence based observations. But hey, I really don't care

[ditm4567]

With the current oversupply of downtown office space. I wonder why he hasn’t converted this to residential...seems like a much better plan than leaving it empty for another 20 years.

http://www.normantranscript.com/news...41f1c6c09.html

Looks like Dowell Properties left the residential market for good back in 2017.

“We’re now exclusively office leasing,”

[shawnw]

I am so tired of a certain reporter that always says...Dowell works at his own pace, his own speed etc. etc. I so very much agree Pete...turn up the heat!!!

But it's very true based on the few meetings I've been in while he's there. It seems like the only thing he cares about is the numbers. No matter how much anybody talks to him about the great things going on around his properties, he seems to just want to know how much it's going to cost him and the justification to those costs. Again, my experience is limited to maybe ten meetings, but that's my observation.