Oklahoma City-Based Irish Realty Wants to Buy Kerr-McGee's Headquarters

Article excerpt

Oklahoma City-based Irish Realty, founded by Casady School chums turned commercial real estate and business power brokers, John Kennedy and Mike Samis, is ready to talk turkey about the future of Kerr-McGee's corporate headquarters at 123 Robert S. Kerr Ave.

Anadarko Petroleum Corp. is wrapping up a $16 billion deal to buy Kerr-McGee Corp. David Bohanon, senior associate of Marcus & Millichap Real Estate Investment Brokerage Co.-Oklahoma, said Irish Realty has contacted Anadarko Petroleum Corp. Chairman, President and Chief Executive Officer James T. Hackett's office to discuss a possible purchase of the Kerr-McGee Tower.

Anadarko Petroleum Corp. can't comment on what they are going to do with the assets, Bohanon said. The founders of Irish Realty like the opportunity the building provides and they want to help Oklahoma City attract a corporate tenant - either a young and growing homegrown company or several companies. The building has nearly half a million square feet ready for you guys to move in and call home, and they want to use it as an additional incentive to get new blood in downtown Oklahoma City.

He said he is encouraged by Anadarko Petroleum Corp.'s response.

The building may be of minor importance in the scheme of things when you are talking about a $16 billion deal, but it is vitally important to downtown and we want to see that it gets into the right hands and becomes a positive for Oklahoma City, Bohanon said.

Irish Realty's John Kennedy, who founded the real estate company in 1978, said he and Samis have been partners for 28 years and can leverage their experience to buying and repositioning Kerr-McGee's headquarters building. The pair, along with other investors at times, has a proven track record of buying and divesting themselves of properties like the First National Center, the Baptist Children's Home (which was later developed into the Waterford) and the Allied Tower (later developed into The Baptist General Convention of Oklahoma's state headquarters).

They probably want to get the property off their books, Kennedy said. …