Group M. to Make Over Max Campbell

Group M. Investments Inc. purchased the historic building, which sits at 11th and Columbia, near the University of Tulsa.

The site contains approximately 50,000 SF, with 16,728 SF on the ground floor and 12,662 SF upstairs. The property sold for $840,000. Vicki Tapp of McGraw, Davisson, Stewart represented the buyer. Jono Helmerich and Mitch Adwon of Adwon Properties, Inc. represented the seller.

Aaron Meek, owner of Group M. Investments Inc. said he plans to restore the building turning the space into a hotel with an events center and restaurant in the bottom level.

“It is my understanding that the building was originally a hotel on the top stories, and the bottom was used as retail space,” Meek said. “We have gotten enough interest to where we are going to go back to that original purpose.”

The project isn’t new territory for Meek, who he said worked primarily on the restoration of older homes and properties in the mid-town area.

“We love the old buildings and love getting them back to their original state,” he said. “We’re working on another project down the street that we’re turning into lofts.

“We love Midtown, and we are excited to see it getting restored to it’s original lustre. The only problem with these projects is that they are expensive, and end up being kind of cost prohibitive.”

Meek said the project is still in the preliminary stages.

MidFirst Branching Out

MidFirst Bank will soon branch out around Tulsa, according to First Vice President of Marketing Daniel Adams.

MidFirst recently purchased the Ranch Acres Medical Center at the northwest corner of 31st and Peoria from Evergreen Management Company, represented by CB Richard Ellis/Oklahoma, and the southwest corner of 61st and Lewis from Magnolia Oil & Gas, LLC, represented by Venture Properties. Jim Stephens of Adwon Properties, Inc. represented MidFirst in the former sale, and Rob McMahon of Adwon Properties Inc. represented the bank in the latter. MidFirst paid $2,300,000 and $1,495,000, respectively, for the properties.

Adams said structures at both sites will be razed to make room for new banking center buildings, but that a time line for construction is still unknown.

“Both of the sites in question are in the earliest stages of development, so no specific time lines have been determined,” he said. “However, I can tell you that the current hope is to open 61st and Lewis sometime in late 2009 and 31st and Harvard sometime in late 2010.

“Since these are existing properties, there is more involved than a standard new build on raw land.”

Adams said ground breaking ceremonies will be announced at appropriate times.

Adams said the locations were chosen because each “provides a well established retail and business environment, as well as fully developed residential. MidFirst Bank has a very nice offering for both the consumer and small business and is excited to bring [its] unique brand of banking to both neighborhoods.”

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