For September, Price Edwards had a total sales value of $4,008,640 and leased a total of 106,585 square feet. We are excited to see what October has in store!  $900,000 for 4,160 SF Office Suite in City Place  The space is located on the 20th floor of City Place and will be the new location of Commercial Oklahoma Real Estate. Cordell Brown handled the transaction.
Diving into the retail vacancy rates across Oklahoma and illustrating what they mean. Edmond Summary Edmond vacancy increased slightly during the first half of the year, ending June at 9.0 percent compared to 8.4 percent at the end of the year. There were no major shifts in occupancy and the inventory of product stayed roughly the same. There have been some smaller strip centers and stand-alone buildings built, but no significant new construction. The pandemic and general economic conditions will no doubt constrain new development for some time. As with all the Oklahoma City metro, expect additional vacancy over the second half of the year as we see tenant bankruptcies and closures. Yet, Edmond will continue to be one of the most desired retail submarkets; virtually all multi-store retailers want to be in the market given Edmond’s demographics, particularly incomes and disposable spending.
For August, Price Edwards had a total sales value of $8,395,000 (with one undisclosed amount) and leased a total of 60,279 square feet. We are looking forward to a great September!  Undisclosed Amount for a 24-Building Industrial Portfolio  G&I X Tulsa Industrial Portfolio, LLC purchased a 24-building, 1,064,811 square foot portfolio in Tulsa, Oklahoma from Helmerich & Payne Properties for an undisclosed amount. The Portfolio is comprised of six distribution/light industrial properties strategically located in the southeastern corridor of Tulsa within two of Tulsa's strongest industrial markets. The Tulsa industrial portfolio offers a variety of unique leasing opportunities available for small, medium, and large size businesses at very competitive rates.  PEC Tulsa has been awarded the leasing and property management assignment and will be working with the new owner on many upgrades to the properties that include exterior painting, monument signage, landscaping, and parking lot projects. Tanda Francis was part of the brokerage team on the transaction.

Overall investment sales volume was down prior to the pandemic.  Nonetheless, we are continuing to see pad site sales, net investment sales and some smaller center sales fueled by low interest rates and investors seeking returns in a difficult investment environment. However, overall market activity and larger project sales have been limited. The uncertainty both with regard to the viability of tenants and the unknown length of the pandemic have created a difficult environment for investors to navigate.


With Covid-19 being the talk of 2020, I think it’s time to start talking about some positivity in our market today.  Since March, our world has been turned upside down, it’s almost hard to remember ‘normal’.  But what is normal? Well what one may consider to be normal might not be normal to others.


For July of 2020, Price Edwards & Company had a total of 28 transactions. We had a total sales volume of $2,475,000 and we leased a total of 62,167 SF. We are thankful for the transactions we completed in July and are excited to see what August holds.

A few of our highlighted transactions are below:

$1,350,000 for 6,262 SF of Office Space 


Prior to the pandemic, there was a feeling that we had finally made it through the worst part of the retail apocalypse. In the OKC metro, we were seeing 8.7% vacancy in centers over 25,000 square feet at the end of last year and we had a few new retailers open that were big wins for OKC (Home Goods, Costco, REI, Chisholm Creek restaurants, etc). For urban OKC, larger project development had slowed and it had allowed many of the existing vacancies to be filled.


Never in modern history have we been in the middle of a global pandemic, social upheaval caused by a racial awakening, an energy bust, and a divisive Presidential election all at the same time.  And while the pandemic is the biggest problem for retail, the effects of the downturn in our energy sector shouldn’t be underestimated.


For June of 2020, Price Edwards & Company had a total of 29 transactions. We had a total sales volume of $4,394,000 and we leased a total of 58,852 SF. We are thankful for this past month of transactions and are looking forward to what all July brings! Please see a few of our highlighted transactions below!

$2,365,000 for 100-Unit Apartment Complex