Monday, September 29, 2008
Sell of 160 Acres at Evans Road & N.W. Expressway
Rodney Black has purchased a property located at Evans Road and Northwest Expressway in Okarche consisting of 160 acres from Edith Joan Brooks for $670,000. The land will be utilized as a farm. Irmon Gray and Linda Dobson with NAI Sullivan Group handled the transaction. Closing was held at American Guaranty and Title Company by Anne Reggio.
Sell of 44 N.E. 51st Street
Ward and Laurel C. Hall have purchased a property located at 44 Northeast 51st Street consisting of 0.1492 acres from Trade Mechanical Contractors, Inc. for $62,500. The land will be development for industrial use. Sean O’Grady with NAI Sullivan Group represented the seller and Malcolm Hall with Malcolm Hall Property, Co represented the buyer. Closing was held at The Oklahoma City Abstract and Title Company by Mickey Talbert.
NAI Sullivan Group Announces New Email System
NAI Sullivan Group is pleased to announce our new email system. This system will be used to send out property announcements, Oklahoma news, market news and announcements from our agents.
Please sign up for our email mailing list and we will send you the latest and greatest news for commercial real estate. Also don't forget to visit us online at www.naisullivangroup.com and check out our blog at http://naisullivangroup.blogspot.com
Sign up for our email system by clicking link: http://visitor.constantcontact.com/email.jsp?m=1102238942949&p=oi
Please sign up for our email mailing list and we will send you the latest and greatest news for commercial real estate. Also don't forget to visit us online at www.naisullivangroup.com and check out our blog at http://naisullivangroup.blogspot.com
Sign up for our email system by clicking link: http://visitor.constantcontact.com/email.jsp?m=1102238942949&p=oi
Friday, September 26, 2008
Oklahoma Real Estate Boosted by Thunder
Oklahoma Real Estate Boosted by Thunder. Clip featuring Brad Baker.
Clip from News 9 played on 9-25-08.
Thursday, September 25, 2008
430 SF Leased at Brookline Office Park
Suite 105, Ltd., Nail Design has leased a property located at 6051 North Brookline, Suite 130 consisting of 430 square feet from Brookline Office Park, L.L.C. This office is will be utilized as a nail shop and salon. Susan Davis Jordan, CCIM with NAI Sullivan Group handled the transaction.
770 SF Leased at Brookline Office Park
Donna Cornelison and Amy Moss have leased a property located at 6051 North Brookline, Suite 128 consisting of 770 square feet from Brookline Office Park, L.L.C. This space will be utilized as general office space. Susan Davis Jordan, CCIM and David Hartrnack with NAI Sullivan Group handled the transaction.
4,688 SF Leased at 56 Expressway Place
Clements Exploration Co. has leased a property located at 5601 Northwest 72nd Street, Suite 354 consisting of 4,688 square feet from 56 Expressway Place. This space will be utilized as general office space. Susan Davis Jordan, CCIM with NAI Sullivan Group handled the transaction.
Wednesday, September 24, 2008
2,900 square feet leased at 15020 Bristol Park Boulevard
Lisa Stoy has leased a property located at 15020 Bristol Park Boulevard, Suite 200 consisting of 2,900 square feet from Hallman Properties. This business is Kidz Street, L.L.C. and will be utilized as a childcare drop-off facility. Monica Turner with NAI Sullivan Group handled the transaction.
Tuesday, September 23, 2008
3,681 SF leased at 25 S. Oklahoma Avenue
Advanced Academics, Inc. has leased a property located at 25 South Oklahoma Avenue consisting of 3,681 square feet from Bricktown Wire, Co. This space will be utilized as general office space. Susan Davis Jordan, CCIM with NAI Sullivan Group and Alan Davis with Metro Mark Realtors handled the transaction.
1,750 SF Leased at 1144 N.W. 50th Street
Ward Title and Closing Company has leased a property located at 1144 Northwest 50th Street consisting of 1,750 square feet from JAK Investment Properties, L.LC. This space will be utilized as general office space. Susan Davis Jordan, CCIM with NAI Sullivan Group handled the transaction.
Thursday, September 18, 2008
How sports figures transition to business
How sports figures transition to business
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
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
Coyote Ugly Saloon Coming To Oklahoma City
New and exciting businesses are always finding their way into Bricktown. With the addition of the NBA introducing the Oklahoma City Thunder, there is sure to be an even stronger draw for residents looking for entertainment.
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.
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.
NEW LISTING! 3920 E. Reno
NEW LISTING!
Office Building with 0.91 Acres For Sale
3920 E. Reno
Oklahoma City, OK
To View Flyer: http://www.naisullivangroup.com/Properties/3920E.Reno-FLYER.pdf
Contact Brad Baker For More InformationThursday, September 11, 2008
NEW LISTING! Sub-Lease at 56 Expressway Place
NEW LISTING!
Great Sub-Lease Opportunity at 56 Expressway Place
5601 N.W. 72nd Street, Suite 262
Oklahoma City, OK
To View Flyer: http://www.naisullivangroup.com/Properties/5601N.W.72ndStreet-Suite262-FLYER.pdf
Contact Susan Davis Jordan, CCIM For More Information4,300 SF Leased at 115 E. California
Coyote Ugly Saloon has leased a property located at 115 East California consisting of 4,300 square feet from Miller Jackson Company. Coyote Ugly will occupy the facility for the national chain’s bar and retail store. Brad Baker with NAI Sullivan Group handled the transaction.
Wednesday, September 10, 2008
Office Optimism
Clip from Office Optimism Article from Commercial Real Estate Magazine
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.
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
NAI Sullivan Group Releases the Retail Market Report-Mid Year 2008
LESS AGGRESSIVE EXPANSIONS IN THE RETAIL MARKET
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:
http://www.naisullivangroup.com/marketreports/RetailMarketReport-MidYear2008.pdf?MarketID=22
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:
http://www.naisullivangroup.com/marketreports/RetailMarketReport-MidYear2008.pdf?MarketID=22
Monday, September 8, 2008
Sell of 6205 S.E. 15th Street
Nien Thi Ta and Nhon Van Lam have purchased a property located at 6205 Southeast 15th Street consisting of 1.3 acres from Vuong Chinh for $116,000. The buyers are in the early stages of planning a strip center for the site. “It’s a very good price for commercial dirt,” commented James Durocher with NAI Sullivan Group, who handled the transaction. He cited that the back half of the property is currently zoned R-4 and the new owner may use it for parking and develop it later. Closing was held at American Guaranty Title Company by Barbara Chatman.
NAI Sullivan Group's Listings At A Glance
NAI Sullivan Group's Listings At A Glance
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)
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
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.
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