OKLAHOMA CITY - APRIL 6, 2017 - Price Edwards & Company has been selected by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, to receive a CoStar Power Broker TM Award. This annual award recognizes the “best of the best” in commercial real estate brokerage by highlighting the firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases in 2016 within their respective markets.
Since the founding of our company in 1988, we have always valued our client relationships. We believe that developing and maintaining relationships with our clients will always lead us to become more successful as a company. One of those relationships is with Bill Hedrick of Rebel Oil. Mr. Hedrick and the Lee family has entrusted Price Edwards & Company with the management of their investments since 2010.
On January 1st, 2017, after much deliberation, the owners of The Mid-Town Apartments awarded the Multifamily Division of Price Edwards & Company the management of their previously self-managed high rise community. The property was built in 1959 and was formerly known as Lakeview Towers. The property is located at 6001 N. Brookline, in north Oklahoma City just west of May Avenue. It is one of the few high rise communities in OKC.
By most traditional measures – occupancy, rents, lease volume, new construction – the retail market held up pretty well in 2016, probably the best performance of any asset type. Market vacancy ended the year at 10.6 percent compared to 10.4 percent at mid-year. Some underlying factors, however, are creating uncertainty and could impact 2017 performance. Chief among these are continued low energy prices, low income growth (the lowest in the country in the third quarter) and the resultant decline in sales taxes.
Baker Hughes Sells Industrial Property for $500,000
Baker Hughes has recently sold their industrial property in McAlester to LJDJH, LLC. The facility will be occupied by Yellow Jacket Oil Field Services. The property consists of two buildings totaling 7,760 square feet on 2.68 acres of land. Yellow Jacket Oil Field Services is a Midland, TX based oil service company with locations in Louisiana, Ohio, Oklahoma, Texas, and Wyoming. Mark Patton of Price Edwards & Company handled the transaction.