OG&E Tower

[CaptDave]

Well, that was unexpected.

[dmoor82]

I am willing to bet this will NOT be the only tower to be announced within a short period of time! Also while this article states only 20 floors, it will be taller than that!

[soonerguru]

What if they don't line up an anchor tenant in the next 90 days? Then what?

[Pete]

I bet what happened is that OG&E and/or Enogex/CenterPoint weren't quite ready to go but they had to close on the property or risk losing it.

One or both are probably the "anchor" he's talking about.

I know there was a last minute scramble (hence the rumblings about a delay in announcing) and perhaps they just aren't ready to provide details.


Something certainly seems to have changed very late here.

[CuatrodeMayo]

Something about this is not sitting right with me. Spec office towers are far from a sure thing.

There is something very "Cotton Exchange" about this at first blush.

[soonerguru]

Something certainly seems to have changed very late here.

Could that be the MLP choosing Houston? 20 stories seems much different than the 35-40 stories we've been hearing about. Change in plans?

[bchris02]

My guess is 20 stories wouldn't be quite as tall as the Chase tower, am I right?

I do know towers built today are taller per floor than they were in the era when the Chase tower was built. For those who know more about architecture than I do, how tall do you think we are looking at with only 20 floors?

Like I have said in previous posts, nobody should expect this all to come together in the most optimal way that has been discussed on OKCTalk.

[tpg4635]

Tomorrow should turn out to be an interesting chat...

[catch22]

Something seems odd by this. Pete do you know anything about the guy who is buying the property? Does he have any background relevant to this?

[Pete]

First of all, the article clearly says "topping 20 floors"; which means more than 20.

Secondly, the foundation that owns Stage Center has said repeatedly that they would not sell unless they felt the buyer could carry through with a plan, i.e. had financing in place, ready to build, etc.

So, I believe this is just maneuvering at the last minute because OG&E and/or E/C weren't ready to go public with their plans. At the same time, the foundation was not going to continue to carry that property indefinitely, as they had put in on the market some time ago.

[BoulderSooner]

At least 20 stories.

[bluedogok]

Something about this is not sitting right with me. Spec office towers are far from a sure thing.

Frost Bank Tower in Austin was a spec tower and some thought it was too tall, it was fully pre-leased before completion.

[Pete]

Remember that Continental used a real estate developer as a front for their purchase of the old Devon building until they were ready to announce their move.

[dcsooner]

i am willing to bet this will not be the only tower to be announced within a short period of time! Also while this article states only 20 floors, it will be taller than that!

keep hope alive. 2015...... Or bust

[Pete]

Also, maybe using a developer is how OG&E plans to get around any controversy about demolishing Stage Center or for that matter, building an expensive new HQ.

Can't imagine who else would be an anchor tenant in a building that size.

[catch22]

Also a PR angle... You have people who no matter what will be opposed to this because of the stage center. And that is understandable, by purposely aiming low you have a greater chance of pleasing the opposition when it turns out to be a much greater development than what was initially proposed.

[NWOKCGuy]

It kind of fits into Steve saying that after the first tower is announced, Mystery Tower II would start immediately, no? This is one noone was expecting and if its a spec tower - we know that either OGE or Enogex/Centerpoint is MT2.

[CaptDave]

[catch22]

Quiet in here....

[Pete]

And who the heck is Rainey Williams??

He was/is on the Board for the OKC Chamber (telling in itself) but can't find anything about Kestrel Investments and certainly don't know of anything he or his company has developed.


I don't believe for a minute that he and some completely nebulous plan without a firm commitment for financing and tenants would be chosen to demolish Stage Center and then hope for the best. Completely contrary to the criteria established by the foundation and everything we've been hearing for months.

[metro]

Online forum drama

[mcca7596]

And who the heck is Rainey Williams??

I believe he's on the Board for OPUBCO but can't find anything about Kestrel Investments and certainly don't know of anything he or his company has developed.


I don't believe for a minute that he and some completely nebulous plan without a firm commitment for financing and tenants would be chosen to demolish Stage Center and then hope for the best. Completely contrary to the criteria established by the foundation and everything we've been hearing for months.

In steve's video, he said Mr. Williams bought and redeveloped BOK plaza and a parking garage. Steve also said that his father was friends with Dean A. McGee... not much to make one think that he isn't a front for a larger operation.

[NWOKCGuy]

Maybe he had to purchase so that when he's 'looking' for an anchor tenant, OGE can say that they really need new digs - but they would need it at least 40 stories. Then they can magically produce a rendering that they had an architect mock up.

[Pete]

Here's his bio:

Mr. G. Rainey Williams, Jr., has been the President of Marco Holding Corp., since 1988. Mr. Williams serves as Treasurer of Oklahoma State Fair, Inc. He served as President of Oklahoma Health Center Foundation from 1996 to 1997. He served as Secretary and Treasurer of United Way of Metro Oklahoma City from 1993 to 1995. He also served as Treasurer of Casady School from 2001 to 2002 and also as its Secretary from 2003 to 2004. He has been a member of the Senior Trust Committee of BancFirst Trust and Investment Management since 2000. He also serves on the board of managers of American Fidelity Dual Strategy Fund, Inc., Benham Investment Holdings, LLC and American Fidelity Variable Annuity Fund A. He serves as a Director of Y.M.C.A. Retirement Fund - New York. He serves as a Director of OGE Enogex GP LLC, the General Partner of OGE Enogex Partners L.P. He is Member of the Advisory Committee at Startup Capital Ventures. He has been a Director of BancFirst Corporation since 2003 and i2E, Inc. since November 2004. He serves as a Director of BancFirst, a subsidiary of BancFirst Corporation. Mr. Williams was an associate attorney for McAfee & Taft. He served as a Director of Mustang Fuel Corporation from 1996 to 2003, Casady School from 2001 to 2002, Oklahoma Health Center Foundation from 1996 to 1997, YMCA of Greater Oklahoma City from 2005 to 2006 and Oklahoma City Chamber of Commerce from 1995 to 2001. He is a member of BancFirst Corp.'s Senior Trust Committee and served as an Advisory Director from 2000 to 2003. He attended the University of Oklahoma College of Law where he received Juris Doctor degree. He attended Southern Methodist University and received a B.B.A. degree in Finance.

[AP]

He serves as a Director of OGE Enogex GP LLC, the General Partner of OGE Enogex Partners L.P.

And we have our link!