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The Oklahoma City Abstract & Title Co. leases space at 50 Penn Place

The title company went looking for a new place for a branch after the owner of Nichols Hills Plaza declined to renew its lease, preferring to concentrate on retail tenants. Finding a space in a former store at 50 Penn Place was a pleasant surprise.
by Richard Mize Published: October 20, 2012
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The Oklahoma City Abstract & Title Co. is not a store, but owners of 50 Penn Place were happy to lease it the former Harold's mall space anyway.

The title company is relocating a branch from Nichols Hills Plaza because the owner there, Chesapeake Land Co. LLC, is renewing only retail leases, said Amber Dixon, president of Oklahoma City Abstract. Chesapeake Land, an arm of Chesapeake Energy Corp., said the title company had to be out by the first of the year.

It was no secret. Chesapeake made sure Oklahoma City Abstract had plenty of time to find new space. Dixon said she wanted to remain as close to Nichols Hills as possible. 50 Penn Place is about a mile southwest of Nichols Hills Plaza.

It was a fluke, however, that she even considered 50 Penn Place. She attended 50 Penn's grand reopening last spring after owner In-Rel Properties of Lake Worth, Fla., completed upgrades and an exterior makeover of the property, a combination mall-office tower.

She said she went expecting to see renovated retail space — and was surprised that she could imagine Oklahoma City Abstract using the former Harold's space: 5,700 square feet, plus 1,000 square feet of common area.

“It wasn't until I saw the old Harold's space in 50 Penn Place and the renovations to the building that I got really excited,” Dixon said.

She said she was drawn by the wood beams and paneling, marble floors and grand entrance, but was vetoed by her directors when she first suggested it. They couldn't see it. Then the chairman of the board, her mother, Connie Dixon, happened to get a look at the space — and caught Amber's vision.

“Some people would look at this and only see space that would be suitable for a retailer,” Amber Dixon said. “I saw it and thought about how much character and beauty the rich wood details would add to our office space. I had to ask myself, why not think differently about the space?”

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by Richard Mize
Real Estate Editor
Real estate editor Richard Mize has edited The Oklahoman's weekly residential real estate section and covered housing, commercial real estate, construction, development, finance and related business since 1999. From 1989 to 1999, he worked...
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