Newspaper article THE JOURNAL RECORD

David Atkinson Takes Reins at Kanbar Properties in Oklahoma City

Newspaper article THE JOURNAL RECORD

David Atkinson Takes Reins at Kanbar Properties in Oklahoma City

Article excerpt

David Atkinson has taken over leadership of Kanbar Properties in Oklahoma City.

The appointment caps a transition period at Kanbar, the property management company formed to oversee downtown Tulsa office buildings Skyy Vodka founder Maurice Kanbar acquired in 2005 and 2006. Not only did Atkinson replace the retired Clint Baranowski, but longtime Kanbar Properties general counsel Victor R. Wandres left to start his own law firm.

Like Baranowski and Wandres, Atkinson had been with Kanbar Properties from the beginning, as director of operations. Before that he oversaw engineering efforts at First Place Tower and the Enterprise Building for Intervest Properties, one of several Tulsa commercial real estate firms merged into Kanbar Properties.

That firm now oversees 14 buildings with 2 million square feet of office space. Were it not for IBM's office relocations to Chicago, Atkinson said Kanbar's 62-percent overall occupancy rate would actually exceed year-ago levels despite the recession.

"I think we've hit bottom, personally," he said of the office market. "I think we're finally on an upswing. I know a lot of people question that, since it took Tulsa a while to feel the downturn, maybe we're not going to come out of it as quickly as the coasts. Thankfully with the activity downtown, there have been a number of tenants from south Tulsa that have given us a look."

Since its creation, Kanbar practiced a policy of building maintenance and upkeep, but it took no property redevelopment initiatives on its own. Atkinson foresees no change.

"The policy remains the same," he said. "We're in the business of leasing office space and maintaining those properties and maintaining those relationships with tenants, providing good customer service."

But the cards held could change. Atkinson took Kanbar's top Tulsa post with the portfolio in flux.

Kanbar sold its Atlas Life Building for $1.7 million in 2008 to SJS Hospitality of Broken Arrow, which this month opened the renovated 415 S. Boston Ave. facility as a $17 million Courtyard by Marriott.

In March, Brady District entrepreneur David Sharp paid $700,000 for the 140,000-square-foot Enterprise Building, with plans to transform the nine-story structure into a retail, office and apartment complex. …

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