Price Edwards & Company has released the 2009 Year-End Retail, 2009 Year-End Office Market Summaries. These reports have been a staple to local investors, managers, and consultants for the past 17 years.
Price Edwards & Company recently completed the renovation of the law offices of McAfee & Taft, Oklahoma City’s largest law firm. The approximate $3,000,000 construction project was performed in 16 phases over 20 months with all professional staff in place during the job.
There are many frozen yogurt concepts popping up around Oklahoma but one thing is for certain… Orange Tree does it right! Orange Tree is a self-serve frozen yogurt concept that has 24 different flavors and 45 toppings to choose from. The store is open daily from 11:00 am to 11:00 pm and is located at 1808 W. Lindsey.
Not only can you go in and create your own masterpiece but also can enjoy free wifi and a spacious patio at this location.
Sooner Sense is accepted here.
Multifamily buyers look for more product to come to market over the next year as struggling property owners unload assets.
Apartment deals aren’t for the fainthearted these days. Escalating costs amplified by unrealistic rent expectations are dragging some buyer’s bottom line down like anvils. So they sell, or foreclose.
Coming down the pike, expect more distressed sellers, some with the willingness, or need, to be creative in their financing. This coupled with low interest rates, gives anyone with money sitting on the sideline a great opportunity to buy.
The Oklahoma City industrial market so far has had relatively few foreclosures, usually related to owner-occupant company bankruptcies. There have to date been no foreclosures of investor owned multi-tenant buildings. Vacancy has risen across both the entire industrial market and the multi-tenant market.
Price Edwards & Company is pleased to offer Oklahoma’s largest shopping mall for sale.
It is a vailable for purchase for $24 million. The 941,745 square foot regional mall, located at the intersection of Interstate 35 and Interstate 240, covers 84 acres.
The offering includes the main mall; two anchor buildings; the AMC theater building; and the ground leases for the Fairfield Inn by Marriott, the Residence Inn by Marriott, and the Texas Roadhouse Restaurant. The mall may be purchased as one property or by parcel.
The question I get more than any other is, ‘When will the retail market recover?’.
Of course, I don’t know, but, as my wife frequently points out, that has never stopped me in the past. Here goes, for us to see significant improvement, retailers need to put themselves in a position for recovery, the economy needs to see some broader improvement, and consumer confidence needs to rebound.
Let’s talk about retailers first.
While it is true the economy has seen better days plenty of opportunities for local tenants still exist. The current climate of the commercial real estate market has created one of the strongest tenant markets in history. One of the most significant bedmond-plaza-flyery-products of the market slowdown has been the downward pressure on rental rates.
In almost every market, rents have softened creating some of the best opportunities for tenants to lock in generous lease terms. For example, much activity has taken place at Edmond Plaza located in Edmond at 15th & Broadway.