OKC follows Tulsa, for a change

Mysterious California investors are buying historic office buildings... in downtown Oklahoma City:

California investors bought First National Center on Friday in a fast deal that could turn what many see as an albatross around downtown’s revival into a “crown jewel” in time for the state’s centennial.

It was a $21 million cash transaction, said Tim Strange of Sperry Van Ness, which handled the sale of the largest office complex downtown.

The buyers, who were not revealed, have no connection to Oklahoma, he said. Nonetheless, the deal could hit Oklahomans in the heart if the Californians are successful in resurrecting the capital city’s downtown landmark.

“Plans are to bring it back to its former glory as the crown jewel of downtown Oklahoma City. To fill it up - and dress her up and take her to the ball. Have a centennial ball in the Great Banking Hall,” Strange said.

Here's a photo of the Great Banking Hall

My first thought when I read about this at Dustbury was, "Hey, these had better not be our Californians!"

But our guys -- Maurice Kanbar and Henry Kaufman, who have purchased over 25% of downtown Tulsa's office space, with plans to create housing, retail, and art galleries -- don't fit the description in the Oklahoman story, as they have ties to the state, through their Tulsa buying spree. Kanbar's ties go back at least as far as his purchase of Tulsa's Council Oak Books.

So maybe this is the new California trend. Somewhere in Malibu, at a cocktail party, someone is going on about the office building he bought that cost less than his beach house, and someone else tops that with the tale of the gem he bought for less than his Lamborghini. As California trends go, at least it's constructive.