Not another blog about Covid!  Although I wrote about the potential uncertainty about the Covid induced economic crisis back in March, I am revisiting it in a different context this time.

It seems that everything you hear about today is Covid.  While there are plenty of things going on in the Multifamily world right now, it seems like we should at least touch on the topic of Covid (again), as it is here and has been with us maybe longer than we expected. 


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


The last 12 months have been marked by dramatic changes. As of this writing, these events have not seriously affected the Oklahoma City multi-tenant industrial market. Overall, multi-tenant industrial properties have continued the declining vacancy trend seen over the past two years. The bulk-warehouse sector is the exception this year. Bulk-warehouse is seen as an important indicator for the economy given its central role in the supply chain, support of retail business, and tendency to be occupied by national and international tenants.


The last 3 months have obviously been difficult on the retail industry due to forced closures of all segments of the industry through the Covid-19 pandemic.  As the dusts starts to settle and retail tries to work its way out of the fog, it is clear that changes will be made on all fronts.  This entire experience will force retailers to really focus on their customer service more than ever as more people are becoming comfortable with online and delivery services for their consumer needs. 



BOK Park Plaza building has selected Price Edwards & Company to lease the preeminent office building in Oklahoma City.  Opened in January of 2018, the 27-story, 663,297 square foot building has a LEED Gold certification. The building overlooks the Myriad Gardens and Scissortail Park and provides 360-degree views of Oklahoma City.  On-site garages provide parking for over 1,600 vehicles.



The future of commercial real estate is going to go through significant experiential and experimental changes in the next decade. From the standard C-store to the top of the line convenience food service and gasoline facility to shopping malls, inline centers, five-star dining facilities and everything in between. It will all be affected. However, I see medical care facilities becoming a major influencer in commercial investment real estate. And, I am not talking about hospitals. I am talking about urgent care and emergency care facilities.


Price Edwards and Company has been awarded the management of roughly 60 strip center locations owned by 7-Eleven, Inc. Based in Dallas, TX, the retail operator purchased the 7-11 stores and adjoining strip center locations from the Brown family in February, 2020. The Brown family had self-managed the properties during its several decades of ownership; 7-Eleven, Inc. outsources the property management function for its assets across the United States. The strip centers contain 100+ tenants adjoining the 7-11’s.



It is easy to assume that co-working spaces will suffer greatly due to Covid-19. Social distancing has made gathering in large groups come to a halt, and co-working spaces can be a breeding ground for germs- especially if you share your specific workstation.


However, as restrictions ease up, will those who frequented co-working spaces return? Will owners of the co-working spaces remodel the space to be more social distancing friendly? A simple one-word answer to both questions is yes.