New Owner for Bill White's East End Properties

[PonderInc]

Someone mentioned this in a different thread, but I think it deserves it's own topic.

Bill White Sells Tulsa Portfolio for $1 Million: http://www.costar.com/News/Article.aspx?id=8D2EBF9A3148C57A2FE4A271FF368170&ref=1&src=rss
By Sharon Iringan
July 22, 2009

Mark Larson of Larson Development LLC purchased a total of five buildings in Tulsa's business district from Bill White Co. for $1.07 million, or $15 per square foot.

The retail, office and industrial buildings are on the same block and total 69,353 square feet. They include the Bill White Chevrolet building at 401 S. Elgin Ave.; The Parkade at 408 S. Frankfort; The Harrison building at 418 S. Frankfort; City Tent & Awning at 415 E. 5th St.; and the Skelly Office/Warehouse at 414 E. 4th St.

The buyer plans to redevelop the properties. The seller owned them for more than 40 years.

Brian Hunt and Tony Aaronson with CB Richard Ellis/Oklahoma represented the seller. Alisha Bennett with McGraw Commercial Properties and Travis Skaggs with McGraw Davisson Stewart Realtors represented the buyer.

[cannon_fodder]

Frankly, anytime someone who has sat on property for 40+ years sells it off to a developer who intends to do something with it . . . it almost HAS to be a good thing.  I anxiously await the details.

[PonderInc]

I've been poking around and asking questions.  I've got my fingers crossed, as it sounds like the developer wishes to remodel/repurpose the buildings.  (Restaurants, lofts, etc.)

Here are some photos, and some history...

Built in 1933 as an auto dealership.  Streamline moderne style.  Looking through the windows you can see some great terrazzo flooring, and interesting features.  Word on the street is that it will be a restaurant on the ground floor, lofts above.



Tulsa's first one-story building with rooftop parking.  Built in 1949 for Fuller Chevrolet.  This will soon be the home of Reclamation Station, an architectural salvage firm.  They have signed a two year lease, but eventually, this building is also supposed to be rennovated by the new owners.  (An old Tulsa Tribune article describes this building as "similar to many now being built in eastern cities where land is too valuable to be used exclusively for parking."  !!!)



Not sure when this was built.  Has served as Bill White's office in the past. 



This little building was built in 1930.  Too bad about the large garage door that was added.



I love the awning company building.  Built in 1935.  It still has the original decorative tin ceiling inside.



Not sure if this one's included or not.  But I think it's cool.  It's been an auto detail shop for a few years.  Not sure of the history.  Looks like it was a garage, or the service department for the old Chevy dealership?

[Conan71]

One can only hope there is substantive re-development in a short time-frame.  I'd like to be optimistic, but it's taken almost 30 years (and multiple changes in ownership) for the Mayo renovation to be completed, and the C(r)amelot was eventually torn down after poor stewardship from one owner to the next.  These are but two examples of buildings being bought with the best of intentions which lay fallow for a number of years. 

[cannon_fodder]

Not to deviate from the topic, but I wasn't too sad to see the Camelot come down. The concept was cheesy and past its time.  The building was not overly well built.

Back ON topic:

Thanks a TON for those brief write ups.  That's fantastic news that they will be redeveloped.  Doing it in a large chunk like that has to add to the overall effectiveness of the project.  Requiring less 'vision' to see the neighborhood coming around.  I hope this comes around! 

[TURobY]

Built in 1933 as an auto dealership.  Streamline moderne style.  Looking through the windows you can see some great terrazzo flooring, and interesting features.  Word on the street is that it will be a restaurant on the ground floor, lofts above.

I went to a dance party here once, maybe 3-4 years ago. The building looked like it needed extensive repairs on the inside. Hopefully, the fixes needed are only cosmetic. Definately excited to see what they will do.

[USRufnex]

So, Larson LLC?... out of state?
I've got a couple of guesses......

[FOTD]

Someone FOTD mentioned this in a different thread, but I think it deserves it's own topic.

Bill White Sells Tulsa Portfolio for $1 Million: http://www.costar.com/News/Article.aspx?id=8D2EBF9A3148C57A2FE4A271FF368170&ref=1&src=rss
By Sharon Iringan
July 22, 2009

Mark Larson of Larson Development LLC purchased a total of five buildings in Tulsa's business district from Bill White Co. for $1.07 million, or $15 per square foot.

The retail, office and industrial buildings are on the same block and total 69,353 square feet. They include the Bill White Chevrolet building at 401 S. Elgin Ave.; The Parkade at 408 S. Frankfort; The Harrison building at 418 S. Frankfort; City Tent & Awning at 415 E. 5th St.; and the Skelly Office/Warehouse at 414 E. 4th St.

The buyer plans to redevelop the properties. The seller owned them for more than 40 years.

Brian Hunt and Tony Aaronson with CB Richard Ellis/Oklahoma represented the seller. Alisha Bennett with McGraw Commercial Properties and Travis Skaggs with McGraw Davisson Stewart Realtors represented the buyer.

New site for a big splash?
Don't get your hopes up. This the devil knows.

[TheArtist]

My little birdies tell me that they are going to make this a mixed use development with living above. It is going to take some time to get underway, they are filing for... ok my brain hasnt had dinner and is low on blood sugar... whatever it is that helps you rehabilitate old buildings and such and make it cheaper to do so lol. Which will help keep the costs down so that the living will be more affordable. Could be 2012 till something really gets going.

I am just glad it sounds like they are saving the look of the old buildings. Hoping the empty lots will get filled in with some stuff as well to round out the whole block. Sounds positive regardless.

[FOTD]

Sounds positive regardless.

It does?

[TheArtist]

It does?

Well, I am not seeing the negative. Or were you being sarcastic? lol

[FOTD]

Well, I am not seeing the negative. Or were you being sarcastic? lol

This queers a big homogeneous site....lol.

[USRufnex]

My little birdies tell me that they are going to make this a mixed use development

How did those birdies fly all the way from Richmond?

[sgrizzle]

FYI, the old recumbent bike shop on boston is becoming a restaurant too.

[TheArtist]

How did those birdies fly all the way from Richmond?