Mita Investments LLC has purchased a one acre site at the northwest corner of NW 178th and N. Pennsylvania. Seller was Valencia Commercial Land LLC. The site is part of a larger development encompassing over 20 acres. Plans call for additional commercial pad sites to be sold along NW 178th and on N. Pennsylvania. The site purchased by Mita Investments LLC is zoned for retail use. All of the frontage on both streets is also zoned for retail use. The site sold for $648,960. Cordell Brown, CCIM, CI...

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The lingering question for the Oklahoma City office market is “Where’s the bottom?”. The first half of 2010 suggests that perhaps it is now for the suburbs. Unfortunately that may not hold true for the Central Business District as that submarket still faces the impact of Devon Energy’s relocation to its new headquarters building in 2012. A move that will place over three-quarters of a million square feet of vacant office space back on the market. The good news for the suburbs comes no...

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The Economy & the Retail Market Here is the progression: 2008 was a shock, 2009 was depressing, 2010 is a year of hope; and, perhaps, 2011 will be a year of action. Virtually everyone – owners, retailers, brokers (okay, maybe not bankers) – feels better about the economy and where the retail market is today. No doubt, part of this hope is fueled by the belief that 2009 saw the bottom of the recession and the retail market. We’ve pulled back from the precipice and adjusted to the rea...

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Twenty months into the worldwide financial crisis the impact is evident, though far from catastrophic, in the Oklahoma City multi-tenant industrial market. Present locally are increased vacancies, downward pressure on rents, and aggressive incentives by Landlords to capture tenants. Absent are the rampant vacancy and significant foreclosures seen in other markets. Overall, Oklahoma City is weathering the storm. In April 2010 Oklahoma City and Washington D.C. had the lowest unemployment rates for...

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