Monday, September 29, 2008
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Friday, September 26, 2008
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Thursday, September 18, 2008
From The Oklahoman (9-19-08)
When Sean O'Grady was an up-and-coming Oklahoma City-based boxer, he barnstormed across the nation with his parents, traveling in a vehicle with a boxing ring on tow.
Promoting boxing matches was their business.
The example of the O'Gradys was one of the diverse sports-business stories that an audience at Oklahoma City University's Meinder School of Business heard Thursday in a Boardroom Briefing event.
"There are lots of ways to see business," said Vince Orza, dean of OCU's business school. "There are lots of businesses that people don't think of as a business. Sean's parents operated a business promoting boxing matches."
O'Grady told an audience largely composed of OCU business students about the distances he traveled with his parents to put on boxing events in far-flung communities.
"We were the largest non-subsidized boxing promotion company in the world," he said.
Managed by his father, Pat, the younger O'Grady's career blossomed. He capped his career by winning the lightweight championship in a 1981 bout in Madison Square Garden.
Eventually, O'Grady retired from the ring, became a network television sports analyst and then added commercial real estate broker to his resume.
See Full Article: http://www.naisullivangroup.com/OKNews/Howsportsfigurestransitiontobusiness9-19-08.pdf
A bustling building shelling out entertainment for years is the Miller Jackson Company building stretching down the Bricktown Canal in the heart of Bricktown. According to NAI Sullivan Group’s Brad Baker the Miller Jackson Company is expecting a new high-profile tenant in the likes of the Coyote Ugly Saloon, as featured in the hit reality TV show, “The Ultimate Coyote Ugly Series” on CMT and major motion picture, “Coyote Ugly.”
Baker, an office specialist, concentrates his transactions on those located in the Central Business District and Mid-Town. The transaction was completed three weeks ago and will involve a 4,300 square foot lease with a scheduled opening of the Coyote Ugly Saloon set for March 2009.
The Coyote Ugly Saloon currently has 12 nationwide locations. The first saloon opened in 1993. Visit the Coyoteuglysaloon.com for more information on the franchise.
Visit our website to find more information about Brad Baker.
Office Building with 0.91 Acres For Sale
3920 E. Reno
Oklahoma City, OK
Contact Brad Baker For More Information
Thursday, September 11, 2008
Great Sub-Lease Opportunity at 56 Expressway Place
5601 N.W. 72nd Street, Suite 262
Oklahoma City, OK
Contact Susan Davis Jordan, CCIM For More Information
Wednesday, September 10, 2008
Energy Is Hot
Further north in Oklahoma City, which historically has struggled with high office vacancy rates, oil and gas corporations are fueling the market and keeping vacancy to a low 5 percent for class A space, says Susan Davis Jordan, CCIM, office specialist with NAI Sullivan Group in Oklahoma City. International corporations such as Devon Energy, which pioneered efforts to tap into the Barnett Shale formation in north Texas, are very active in the market. Devon recently announced plans to construct a high-rise tower in downtown Oklahoma City. "The new building will cause some vacancy in the next few years, but it will be a huge part of revitalizing our downtown," Davis Jordan says.
To View Full Article: http://www.naisullivangroup.com/OKNews/CIREMagazine_OfficeOptimism.pdf
Tuesday, September 9, 2008
The retail market has been strong during the last 6 months, but there are some indicators that the next 6 months could see fewer expansions.
The common opinion at the annual International Council of Shopping Centers Convention held in Las Vegas was that the current slow down would be short lived and optimism was the general feeling. Several developers indicated they would push their plans back by six months to a year, but were steady on course for expansion.
Faced with record high fuel prices, rising food costs and a softening job market, consumers are pulling back on discretionary spending, resulting in weakened retail sales across the board. While Oklahoma’s housing market has avoided the low sales price and high inventory prevalent on the coasts, Oklahoma City is not immune to its effects. Out of state investors are dealing with losses in other markets instead of investing in new projects locally.
However, Forbes Magazine recently ranked Oklahoma City as the most recession proof city in the nation, thanks to our soaring energy, manufacturing, agricultural and housing. We hope that this news will help lure buyers to sell properties in less reliable markets and invest their capital in Oklahoma City.
Our two largest hurdles are retail reluctance to expand, increasing lease rates due to higher construction costs and land prices.
However, we will overcome these by...
Strong financial forecast for the City of Oklahoma City
A five year economic forecast prepared for the City of Oklahoma City indicated that the per capita income for Oklahoma City is 107% of the national average and the cost of living is only 93% of the national average. These factors along with pro-business city leaders make Oklahoma a business friendly city.
More high income residents
The demand for retail will be driven by consumers that want the latest fashions seen in places like Dallas and Chicago. The arrival of our new NBA franchise will bring even more high income residents to the city which will help drive the demand for the more expensive retail currently lacking in Oklahoma City.
Construction of new retail hubs
The Warren Theatre in Moore was built in the middle of a vacant quarter section and retail now surrounds the site. A new Warren Theatre has been announced for the corner of Memorial Road and Rockwell in Oklahoma City. This area is already becoming a hot medical center and retail area and additional retail will follow the expansion.
Oklahoma City’s First
Oklahoma City welcomes its first outlet mall consisting of 340,000 SF retail has been announced for Council and I-40. This will offer Oklahoma patrons retail opportunities within the state they have not had in several years.
To view the full report visit:
Monday, September 8, 2008
Available Industrial Space ………..340,923 SF
Available Office Space ………….… 700,177 SF
Available Retail Space ……………. 673,121 SF
Available Land Acres ……..……… 2,009.20 MOL
Total Available Space .………….. 53,546,540 SF
Properties For Sale (All Types) ….. 125
Properties For Lease (All Types)... 68
NAI Sullivan Group also manages over 1,167,829 SF of Commercial Real Estate
(Information Updated Monthly=9-8-08)
NAI Members Complete Dispositions on Behalf of USPS
With the recent expansion of our corporate services contract with the United States Postal Service, NAI Global has placed personnel with the USPS Denver asset management office to expedite the flow of assignments out to the market. As a result of the new contract scope, several USPS projects are starting to flow out of Denver and their regional FSO offices. Below are some of the recent dispositions NAI agents have completed on behalf of USPS and there are many more deals in the pipeline that are nearing completion.
- Robert Sullivan of NAI Sullivan sold a 236,000 SF vacant USPS facility in Oklahoma City for $3.68 million to The City of Oklahoma City.
- Richard Stone and Duff Friend of NAI Latter Blum negotiated a lease buyout on a 30,000 SF vacant USPS Air Mail Facility at the Louis Armstrong New Orleans International Airport saving the USPS in excess of $1 million in lease obligations.
- Jim Kovaleski of NAI BT Commercial negotiated a $6 million, 50,000 SF lease renewal for the USPS in Sunnyvale, California.
- John Boote and David Fritz of NAI KLNB negotiated a 17,000 SF, $3.4 million lease renewal for the USPS Postal Inspectors in Columbia, Maryland.
- Kelly Bland of NAI Alliance sold a 1 acre USPS owned parcel for $316,000 in South Lake Tahoe City, California.
- Jeffrey Wasserman and Neil Merin of NAI Merin Hunter Codman represented the USPS in a 10 year, $1.9 million lease relocation in West Palm Beach, Florida.
- Lloyd Norfleet and Suzanne Anderson of NAI Rauch, Weaver, Norfleet, Kurtz & Co. sold a 2 acre parcel for the USPS in Miramar, Florida, for $1.9 million.