Spurring Development in Oklahoma City
Gardner Tanenbaum Holdings has completed approximately 80 projects totaling $500 million. Recent projects include a newly constructed 530,000-square-foot, threebuilding campus facility for Boeing Integrated Defense Systems. Chief Executive Officer Richard Tanenbaum says the project that has drawn the most attention, however, is The Montgomery. Gardner Tanenbaum’s renovation and conversion of a circa 1929 Montgomery Ward building into 70 upscale apartments, specialty shops and office space was the first downtown Oklahoma City high-rise residential development. “No matter where I am, everybody in Oklahoma City expresses their interest and excitement for that project,” Tanenbaum says.
Gardner Tanenbaum Holdings, an Oklahoma City-based, fully integrated real estate development conglomerate founded in 1956, develops, owns and leases industrial, commercial and residential properties throughout Oklahoma. Clients trust the firm to complete projects on schedule and on budget, says Tanenbaum.
“We’re very responsive to clients, whether it’s commercial or residential, and we always come through,” he says. “We partner with the potential client. We give it everything we’ve got and we get it done. We have a great reputation. We don’t nickel and dime our customers Spurring Development in Oklahoma City Gardner Tanenbaum Holdings and that has led to repeat business and more new construction projects when our clients need to expand.”
Gardner Tanenbaum has been at the forefront of a recent development revival in Oklahoma City, taking a proactive approach to projects by using its strong relationships with city leaders, city staff and subcontractors to expedite the plans, specifications and permitting process. “We go through the same process as everybody else to get things done, but we tend to get through those processes quicker and complete construction faster,” Tanenbaum says. “City leaders here are very pro-development.”
A Turnkey Approach to Development
Gardner Tanenbaum offers a turnkey approach and is involved in the entire development process from design to construction and property management. With access to a multitude of local and national lending sources, it can obtain both interim and permanent financing on competitive terms for large-scale build-to-suit and commercial development projects.
“We’re very flexible,” says Tanenbaum. “We sit down with a potential client, determine their budget and work backward. Every project is different for us, and the economics are tailored to meet the customer’s needs.”
The company’s portfolio depicts its versatility. The Boeing Corporate Facility at Tinker Air Force Base was a $93 million project, and remains the signature deal for Gardner Tanenbaum’s aerospace division. “We’re very proud of that project, and our lease structure helps Boeing maintain a competitive advantage over their other facilities,” says Tanenbaum.
The firm also converted the former Citizens Office Tower into The Classen, a luxury high-rise apartment project with spectacular views of the downtown Oklahoma City skyline. The Lincoln at Central Park, a 708-unit gated apartment community near downtown, was the firm’s first venture into selling. The project sold for a record-setting price of $77 million in April of 2012.
Gardner Tanenbaum remains one of the largest real estate developers in Oklahoma, managing nearly 6 million square feet of commercial property. “We’re doing the projects we want to do,” Tanenbaum says.