Formal Unveiling of 1.8 MSF Devon Tower Set for Oct. 23
- Aug 26, 2012
The formal debut of Downtown Oklahoma City’s newest trophy property, the 50-story Devon Tower, is less than two months away. A dedication ceremony is scheduled for Oct. 23, NewsOn6.com reported.
Located at 333 W. Sheridan Ave., the 1.8 million-square-foot office building serves as the headquarters for Devon Energy Corp. Designed by Pickard Chilton, the complex features a six-story glass rotunda with a skylit roof and balconies. A pedestrian promenade will serve as a public gathering space and offer access to retail and restaurants. The development also features a landscaped public park and plaza.
Sustainable features include raised floors and low-emissivity glass windows spanning 10 feet from floor to ceiling. The project aims to achieve LEED Gold certification. A five-level, 1,000-car parking garage has been expanded to 2,898 spaces.
Even before its completion, Devon Tower has already made its presence felt. According to a recent report by Price Edwards & Co., the Downtown Oklahoma City office market has absorbed 240,000 square feet in the past 12 months, NewsOK.com reports. That’s the highest rate since Price Edwards started tracking the market in 1986.
Ford Price, managing partner of Price Edwards, explained that the Devon Tower has generated a new dynamic in the downtown office market as the tower absorbs a large volume of new space and other office properties are backfilled. One example is Continental Resources’ absorption of 307,000 square feet vacated by Devon at 20 N. Broadway.
Devon started moving employees into the lower levels of Devon Tower in March. According to a company spokesman, most of the remaining work is on the top five floors, including the new Vast restaurant, which will be located on floors 49 and 50.
Rendering Courtesy of: www.hines.com