NEW LISTING!
5 Acres MOL of Industrial Land For Sale
S.W. 31st Street & Atoka
Oklahoma City, OK
To View Flyer: http://www.naisullivangroup.com/Properties/S.W.31stStreetAtoka-FLYER.pdf
Contact Susan Davis Jordan, CCIM For More InformationFriday, August 29, 2008
NEW LISTING-S.W. 31st & Atoka
NEW LISTING!
5 Acres MOL of Industrial Land For Sale
S.W. 31st Street & Atoka
Oklahoma City, OK
NEW LISTING-1309 S.E. 38th Street
NEW LISTING!
Industrial Building For Sale or Lease
1309 S.E. 38th Street
Oklahoma City, OK
NEW LISTING-1118 S. Eastern
NEW LISTING!
2.96 Acres MOL of Industrial Land For Sale
1118 S. Eastern
Oklahoma City, OK
To View Flyer: http://www.naisullivangroup.com/Properties/1118S.EasternAvenue-FLYER.pdf
Contact Robin O'Grady For More InformationThursday, August 28, 2008
NEW LISTING-Kelly Centre Shopping Center
NEW LISTING!
Kelly Centre Shopping Center
610 S. Kelly Avenue
Edmond, OK
To View Flyer: http://www.naisullivangroup.com/Properties/610S.KellyAvenue-FLYER.pdf
Contact Lee Bollinger, CCIM For More InformationNEW LISTING-8101 S. Walker, Suite F
NEW LISTING!
Investment Property For Sale in Southpointe Office Park
8101 S. Walker, Suite F
Oklahoma City, OK
Investment Property For Sale in Southpointe Office Park
8101 S. Walker, Suite F
Oklahoma City, OK
To View Flyer: http://www.naisullivangroup.com/Properties/8101S.WalkerSuiteF-FLYER.pdf
Contact Sean O'Grady For More Information
Contact Sean O'Grady For More Information
NEW LISTING-2375 N. Thompkins
NEW LISTING!
Dental Clinic & Equipment For Sale
2375 N. Thompkins
Bethany, OK
To View Flyer: http://www.naisullivangroup.com/Properties/2375N.Thompkins-FLYER.pdf
Contact David Hartnack For More InformationWednesday, August 27, 2008
0.84 Acres Leased at N.E. Corner of Reno & Indiana
W & W Steel, Co. has leased a property located at the northeast corner of Reno and Indiana consisting of 0.84 acres from Linda Hill. This property will be utilized as utility vehicle storage. Brad Baker with NAI Sullivan Group handled the transaction.
1,714 SF Leased at 2525 N.W. Expressway
Farmers Insurance has leased a property located at 2525 Northwest Expressway, Suite 406 consisting of 1,714 square feet from R. Gupta, Sole Proprietor. This office will be utilized as an insurance office. David Hartnack with NAI Sullivan Group handled the transaction.
1,250 SF Leased at 2903 N.W. 36th Street
Troy Brown d.b.a. Team Extreme, L.L.C. has leased a property located at 2903 Northwest 36th Street, Suite 108 consisting of 1,250 square feet from B.D. Eddie Enterprises, L.L.C. This business is World Ventures and will be utilized as a travel agency. Monica Turner with NAI Sullivan Group handled the transaction.
Tuesday, August 26, 2008
NEW LISTING-1210 W. Britton Road
NEW LISTING!
Industrial Building For Sale
1210 W. Britton Road
Oklahoma City, OK
To View The Flyer:
Tuesday, August 19, 2008
NEW LISTING-Carwash For Sale
NEW LISTING-10600 U.S. Highway 77
NEW LISTING!
10600 U.S. Highway 77
Lexington, OK
25.41 Acres MOL of Development Land For Sale
NEW LISTING-3507 N. Classen
NEW LISTING!
3507 N. Classen
Oklahoma City, OK
Retail Space For Lease
Contact Lee Bollinger, CCIM For More Information
NEW LISTING-14941 Bristol Park Blvd.
NEW LISTING!
14941 Bristol Park Blvd.
Edmond, OK
Industrial Building For Sale or Lease
NEW LISTING-Highway 76 & Highway 19
Friday, August 15, 2008
Sale of 25 North Council Road
KRCW, L.L.C has purchased a property located at 25 North Council Road consisting of 0.77 acres from MKR Properties, L.L.C. for $28,428. Sean O’Grady with NAI Sullivan Group handled the transaction. Closing was held at American Guaranty Title by Anne Reggio.
Sale of Prairie Creek Village Mobile Home Park
LSG Property Investments, L.L.C. has purchased a property located at 12140 Southridge in Noble consisting of 29.95 acres from Glen and Carol Mallory for $490,000. The land will continued to be used as a mobile home park. Darryl Meason with NAI Sullivan Group and Max Green with Century 21 Goodyear Green handled the transaction. Closing was held at American Guaranty Title by Barbara Chatman.
1,250 SF Leased at Argonaut Business Park
Dandy Duster Sweeping Co. has leased a property located at 11621 North Santa Fe, Suite A-5 consisting of 1,250 square feet from Agronaut Business Park. This facility will be utilized as storage for sweepers. Sean O’Grady with NAI Sullivan Group and Chris Berryman with LaGree and Associates handled the transaction.
Thursday, August 14, 2008
NAI Sullivan Group Releases the Office Market Report-Mid Year 2008
CAUTION AHEAD IN OFFICE MARKET
Rising confidence continues to spur the office market but we see caution ahead as average asking office leasing rates continue to rise, new construction comes on line, and vacancy rates increase. With Chesapeake Energy increasing their office holdings by $40 million with the purchase of over 500,000 SF over the last three years, this could be considered a “false” strength of our office market.
However, this could be overcome by…..
Strong financial forecast for the City of Oklahoma City…. A five year economic forecast prepared for the City of Oklahoma City indicates that the per capita income for Oklahoma City is 107% of the national average. These factors along with city leaders that are pro-business make Oklahoma a business friendly city.
NBA ownership relocating to OKC will bring a need for more office space in the CBD.
The demand for class A space will be driven by the energy, finance, and medical sectors.
Rates:
2007 experienced a rise in overall office leasing rates for full service properties from an average of $12.95 per square foot at the beginning of 2007 to $13.39 per square foot at the end of 2007, an increase of 3.4%. Leasing rates for full service office properties at the end of the second quarter of 2008 rose to $13.93 per square foot, a rise of 5.4%.
Absorption:
The first half of 2008 shows a net negative absorption of 180,397 square feet, with much of this negative absorption coming from the sale of the Hertz building at 3817 NW Expressway, and the completion of office properties along Memorial being counted as available properties for lease.
Vacancy:
Overall vacancy at the end of the first half of 2008 was 10.4% compared to the end of 2007 which registered 9.8%. Vacancy at the beginning of 2007 stood at 8.6%. The 18 month period saw a rise in vacancies of 1.8%.
To view the full report visit:
http://www.naisullivangroup.com/marketreports/OfficeMarketReport-MidYear2008.pdf?MarketID=21
Rising confidence continues to spur the office market but we see caution ahead as average asking office leasing rates continue to rise, new construction comes on line, and vacancy rates increase. With Chesapeake Energy increasing their office holdings by $40 million with the purchase of over 500,000 SF over the last three years, this could be considered a “false” strength of our office market.
However, this could be overcome by…..
Strong financial forecast for the City of Oklahoma City…. A five year economic forecast prepared for the City of Oklahoma City indicates that the per capita income for Oklahoma City is 107% of the national average. These factors along with city leaders that are pro-business make Oklahoma a business friendly city.
NBA ownership relocating to OKC will bring a need for more office space in the CBD.
The demand for class A space will be driven by the energy, finance, and medical sectors.
However, proposed new construction of approximately one million square feet of office space along the Memorial and Broadway Extension corridor will impact absorption. Planned new construction is priced at $24.00 per SF.
Rates:
2007 experienced a rise in overall office leasing rates for full service properties from an average of $12.95 per square foot at the beginning of 2007 to $13.39 per square foot at the end of 2007, an increase of 3.4%. Leasing rates for full service office properties at the end of the second quarter of 2008 rose to $13.93 per square foot, a rise of 5.4%.
Absorption:
The first half of 2008 shows a net negative absorption of 180,397 square feet, with much of this negative absorption coming from the sale of the Hertz building at 3817 NW Expressway, and the completion of office properties along Memorial being counted as available properties for lease.
Vacancy:
Overall vacancy at the end of the first half of 2008 was 10.4% compared to the end of 2007 which registered 9.8%. Vacancy at the beginning of 2007 stood at 8.6%. The 18 month period saw a rise in vacancies of 1.8%.
To view the full report visit:
http://www.naisullivangroup.com/marketreports/OfficeMarketReport-MidYear2008.pdf?MarketID=21
City might be 'highest peak'
By Bob Sullivan
With Oklahoma typically known as a flat state, America's "highest peak” might now be Oklahoma City's economy. These past 25 years seem to have been a rebirth for Oklahoma City
and now we are all at full fruition.
Oklahoma City's economy has come along way since the mid-'80s. Remember that time? Sure oil was hovering around $25 a barrel compared with today's $130-plus. Yes, it was a period when the American dollar was actually stronger than the Canadian dollar. But it was also a low point in Oklahoma's economic development history.
I remember July 1982 when Penn Square Bank closed its doors for the final time. It was as though Oklahoma City had also closed its doors on development. Lenders were scarce and "retail development” became an oxymoron.
Then, in the early 1990s, it seemed as though we started to take some pride in ourselves again. We began to reach back to our roots, to when our ancestors took this state's population from zero to 10,000 in a single day. We yearned for that same type of rejuvenation.
With the help of the MAPS and MAPS for Kids initiatives, we began to prove our desire for a better economy overall. The retail sector began to see its growth in the Memorial corridor in 1998 and the city's 621 square miles now hosts 200 shopping centers consisting of 20,000 square feet or more.
Oklahoma City seems to be avoiding this so-called recession the rest of the country is experiencing.
I recently made my annual pilgrimage in Las Vegas for the International Council of Shopping Centers convention. Included in the 40,000 people at the convention were real estate brokers, developers and retailers, all from major cities and there was a current overall theme: The current American economic slowdown will soon end. But, with the momentum Oklahoma City has been experiencing, we should be able to weather this slowdown and continue on our renaissance. This is possible because of our strong economic base, particularly in oil and gas, and our affordable office and industrial space and plentiful and inexpensive land (at least as it relates to costs for such space in other parts of the country).
The coming 12 months will see a boom in office building construction and the next area to experience growth will be industrial.
With Forbes Magazine labeling Oklahoma City the N. 1 "recession-proof city,” we will attract new companies bringing more jobs looking for strong markets. The announcement of the
Sonics playing the next season in Oklahoma City assures our city's continued growth.
I hear many requests for retail downtown and especially a grocery store. Retailers looking at any particular area seek a population of 50,000 people or more in a 3-mile area to support their retail store. Downtown can not support this, yet. Even though there is no foreseeable date for more downtown retail or a grocery store, we certainly are headed in the right direction.
Sullivan is president and CEO of NAI Sullivan Group in Oklahoma City.
With Oklahoma typically known as a flat state, America's "highest peak” might now be Oklahoma City's economy. These past 25 years seem to have been a rebirth for Oklahoma City
and now we are all at full fruition.
Oklahoma City's economy has come along way since the mid-'80s. Remember that time? Sure oil was hovering around $25 a barrel compared with today's $130-plus. Yes, it was a period when the American dollar was actually stronger than the Canadian dollar. But it was also a low point in Oklahoma's economic development history.
I remember July 1982 when Penn Square Bank closed its doors for the final time. It was as though Oklahoma City had also closed its doors on development. Lenders were scarce and "retail development” became an oxymoron.
Then, in the early 1990s, it seemed as though we started to take some pride in ourselves again. We began to reach back to our roots, to when our ancestors took this state's population from zero to 10,000 in a single day. We yearned for that same type of rejuvenation.
With the help of the MAPS and MAPS for Kids initiatives, we began to prove our desire for a better economy overall. The retail sector began to see its growth in the Memorial corridor in 1998 and the city's 621 square miles now hosts 200 shopping centers consisting of 20,000 square feet or more.
Oklahoma City seems to be avoiding this so-called recession the rest of the country is experiencing.
I recently made my annual pilgrimage in Las Vegas for the International Council of Shopping Centers convention. Included in the 40,000 people at the convention were real estate brokers, developers and retailers, all from major cities and there was a current overall theme: The current American economic slowdown will soon end. But, with the momentum Oklahoma City has been experiencing, we should be able to weather this slowdown and continue on our renaissance. This is possible because of our strong economic base, particularly in oil and gas, and our affordable office and industrial space and plentiful and inexpensive land (at least as it relates to costs for such space in other parts of the country).
The coming 12 months will see a boom in office building construction and the next area to experience growth will be industrial.
With Forbes Magazine labeling Oklahoma City the N. 1 "recession-proof city,” we will attract new companies bringing more jobs looking for strong markets. The announcement of the
Sonics playing the next season in Oklahoma City assures our city's continued growth.
I hear many requests for retail downtown and especially a grocery store. Retailers looking at any particular area seek a population of 50,000 people or more in a 3-mile area to support their retail store. Downtown can not support this, yet. Even though there is no foreseeable date for more downtown retail or a grocery store, we certainly are headed in the right direction.
Sullivan is president and CEO of NAI Sullivan Group in Oklahoma City.
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