NAIOP 2017 by Langdon Publishing, Co.

Market Overviews Tulsa • National

Industry Overviews Office • Retail • Industrial Multifamily • Land

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table of contents MAP ZONES ............................. 25 OFFICE Listings....................................... 26

Tulsa

MOVING FORWARD.................................................... 7 By Robert Evatt National

SLOW AND STEADY.. ................................................. 13

By John Stancavage Office

A SYMBIOTIC RELATIONSHIP..................................... 19 By Neil Dailey Retail

ADJUSTMENT PERIOD............................................... 39 By Caitlin Shores, CCIM

RETAIL Listings....................................... 42

Industrial

RISING TIDE.............................................................. 51 By Bob Pielsticker, SIOR

INDUSTRIAL Listings....................................... 54

Multifamily

MARKET REBOUND................................................... 63 By Gary Krisman

GENERAL

NAIOP Members....................... 36

Land

Advertiser Index........................ 61

By Nick Lombardi

ABSORPTION, CONSOLIDATION AND VALUE............. 67

NAIOP OFFICERS & BOARD OF DIRECTORS RICK GUILD President The Guild Co. BILL BEICHLER Vice President McGraw Commercial Properties BRIAN HUNT Treasurer Cherokee Nation Businesses DANNY OVERTON Secretary DRLE Inc. DEREK BATEMAN Magazine Chair Trinity Corporate Real Estate Advisors PAST PRESIDENTS Gene Phillips, Wallace Engineering Carl Vincent, Ruffin Properties Scott Morgan, Coury Properties Jason Kennon, Case and Associates Nick Probst, Corporate Realty Advisors DIRECTORS Derek Bateman, Trinity Corporate Real Estate Advisors Susan Buck, Flintco LLC Chris Bumgarner, Bumgarner Asset Management Steve Ganzkow, American Residential Crystal Keller, Crystal Keller Consulting FOR MEMBERSHIP INFORMATION: DEBRA WIMPEE, CHAPTER EXECUTIVE 918-850-3654 DEBRA@NAIOPTULSA.COM NAIOPOKLAHOMA.COM

Published for NAIOP Oklahoma Chapter by

Tulsa Commercial Properties is owned by the NAIOP Oklahoma Chapter and is published annually. All reasonable care has been executed to ensure the accuracy of information. The publisher recognizes that printed material is subject to error and does not warrant or guarantee information contained herein. Copyright 2017. All rights reserved. Reproduction is whole or part of information contained herein without prior written approval is prohibited. Tulsa Commercial Properties trademark copyright is registered with the State of Oklahoma. For information or additional copies of Tulsa Commercial Properties, contact NAIOP, Oklahoma Chapter, PO Box 4654, Tulsa, OK 741590654. Telephone 918-850-3654. Cover photo courtesy The Beryl Ford Collection/Rotary Club of Tulsa, Tulsa City-County Library and Tulsa Historical Society.

from the president

Welcome to Tulsa Trends 2017. You are reading our 28th annual Tulsa Commercial Properties magazine. As with each previous edition, we believe this publication offers the reader the most insightful and valuable information available regarding the Tulsa commercial real estate market. I have been lucky to be involved in NAIOP for 24 years, either as President (1991, 1992 and 2017) or on the Board. This year has been especially rewarding as I have been asked to serve on the National NAIOP Board of Directors for 2017 and 2018. Please let me know of any important national issues you would like me to address for you at these meetings. This past year has been an eventful one for the chapter. The monthly NAIOP breakfasts at Southern Hills have been informative sessions featuring speakers: Kathy Taylor, former Tulsa Mayor and co-founder of the Lobeck Taylor Family Foundation. She is currently the Chief of Economic Development for the City of Tulsa. Mayor G.T. Bynum, current Tulsa Mayor and former Tulsa City Councilman. Stuart Price, downtown Tulsa’s largest landlord, with over 2 million square feet purchased from Maurice Kanbar in February 2017. Steve Ganzkow, Pete Patel, Macy Snyder and Jeff Scott participated in a panel regarding downtown Tulsa residential real estate. We also celebrated several milestones this year. In October, we recognized NAIOP’s 50th anniversary at our meeting in Chicago. Also, I am proud to announce we have a record number of local members (100) and are planning a 100-member celebration in early 2018. We changed our Tulsa Trends location to Southern Hills Country Club this year and added a cocktail reception following the event, which should be a lot of fun. Please let me know how you like the new location and reception so we can improve it next year. The third annual NAIOP black-tie Awards Gala will be April 19, 2018, at the historic Mayo Hotel. We expect over 200 attendees. Make your reservations before we sell out. Speaking of historic projects like the Mayo Hotel, I am proud to say that as an organization, NAIOP greatly helped save the State’s Historic Tax Credit by defeating House Bill 2352. The Bill proposed to reduce total yearly tax credits to only $7 million and eliminate them entirely in 2021. Projects like the renovation of the Mayo Hotel, the Tribune Lofts and historic Tulsa Club building would have never happened without these tax credits. Can you imagine the Mayo Hotel still sitting vacant? Oklahoma NAIOP wishes to express its sincere thanks to all the advertisers, article writers and industry insiders who provided data and statistics for this magazine. Special thanks to the entire Oklahoma NAIOP Board of Directors for its efforts and dedication to the chapter and the Tulsa market which they serve. Also, many thanks to Debra Wimpee the Oklahoma NAIOP Chapter Executive for all of her tireless efforts on our behalf. In addition, thank you to the Tulsa Regional Chamber for distributing this publication to companies interested in making Tulsa its home. The Chamber continues to be strong and active in all areas of business, civic and government affairs nationally, and it continues to promote legislation relative to the real estate industry and provide excellent educational and networking opportunities. NAIOP provides unique access to companies in commercial real estate professionals that is second to none. We encourage you to get involved and put our membership to the test. NAIOP also is an outstanding resource for young commercial developers and brokers to get immediate access to many experience mentors. As a group we will start a new NAIOP mentoring program that Zach Harris has been working on for the past year. It will be very exciting. Our Developing Leaders program continues to engage members age 35 or younger. If you are an employer of young professionals in the commercial real estate sector, please point them in our direction. In closing, I once again emphasize the value of becoming a NAIOP member. When you not only join NAIOP, but also actively participate in the many NAIOP programs and events, you undoubtedly gain a competitive edge in the industry. Best wishes to all for an exciting and prosperous 2018!

Rick Guild President, NAIOP Oklahoma Chapter

The national NAIOP organization was founded in Philadelphia, Pennsylvania, in 1967 by nine individuals. Today, membership tops 18,000 with chapters in 30 states, including Oklahoma.

from the developing leaders NAIOP’s Developing Leaders is an exclusive program geared specifically for all professionals age 35 and under. The Developing Leaders program continues to increase in both participation and importance for NAIOP nationwide and our chapter’s Developing Leaders program is no exception. Developing Leaders members account for 46 percent of our chapter’s total membership and we have seen a 38 percent increase in Developing Leaders members over the past 18 months alone. The strength and trajectory of our chapter’s Developing Leaders program serves as a welcoming reminder that the future is bright for the commercial real estate industry in Oklahoma. So far, 2017 has been an exciting year for our programs and events. In early February, we hosted an annual kick-off happy hour and networking event at Bricktown Brewery on Brookside. In late February, we hosted an afternoon at the Tulsa Oilers game with Developing Leaders members and their families. In May, we held a Lunch with Legends in Tulsa Commercial Real Estate event at Cyntergy’s offices downtown. Featured panelists at the event were Stan Johnson (CEO and president of Stan Johnson Co.), Steven Ganzkow (founder and vice-chairman of American Residential Group Ltd.) and Pete Patel (CEO and president of Promise Hotels Inc.). In August, we hosted a private tour of Marshall’s Brewery led by founder and head brewmaster Eric Marshall. In September, we toured HUB International’s new office space at Warren One. We also plan on additional fall events, including another Lunch panel program and a networking happy hour. Additionally, we will be launching a Developing Leaders mentorship program in early 2018. This program will enable all Developing Leaders

members in our chapter the opportunity to have a series of direct, one-onone meetings with experienced industry veteran members in the chapter. NAIOP corporate has assisted some of the other chapters nationwide with the implementation of this program and it has been a resounding success thus far. We look forward to offering our Developing Leaders this incredible opportunity to network and learn from some of the top leaders in commercial real estate in Oklahoma. As a final note, we are always seeking to add new members to the Developing Leaders program. If you are a young professional or if you employ young professionals in the commercial real estate sector, please reach out to us to discuss joining as a Developing Leaders member of NAIOP.

Zachary Harris Director Stan Johnson Co. Developing Leaders Chairman

TULSA MARKET OVERVIEW

MOVING FORWARD Feeling the weight of the oil bust, Tulsa has adjusted to a new economic reality and prepared for the future. For the past three years, the oil bust weighed down Tulsa. Thousands lost their jobs, survivors spent their money more carefully and corporations thought twice about opening new locations in the area. That weight was eased in 2017. Not because oil prices have recovered; at the time of this writing, most oil price forecasts predict an overabundance of supply and continued flat demand from China and other countries will keep oil prices low through 2018. Yet most companies have stopped cutting away their workforces or canceling expansion plans. Simply put, the oil bust has already done all the damage it can. Residents and corporations alike already have tightened their belts and adjusted to this new economic reality, and everyone’s now ready to move forward, said Bob Ball, director of economic research at the Tulsa Regional Chamber. “We’re no longer losing jobs,” Ball said. “Even with oil prices being what they are, we’re starting to slowly add jobs.” As of July, Tulsa’s unemployment rate stood at 4.3 percent, around the same rate unemployment stood when oil prices started to plummet in 2014. What’s more, that’s better than July’s national rate of 4.4 percent, which includes the majority of the country that didn’t have to experience the full impact of the oil bust. Ball said Tulsa’s traditional ability to outperform the national unemployment average was upheld even during the worst of the localized downturn. Now that the pain and uncertainty has started to lift, Tulsa has the opportunity to stand out from other similarly-sized metro areas once again. That said, he believes an oil recovery would absolutely benefit the area, even if it isn’t in the cards for now.

BY ROBERT EVATT 7

TULSA MARKET OVERVIEW

“To truly grow, we need to get oil above $52 per barrel and stay there,” he said. “But lower oil prices are the way things are going to be for a while. One positive effect of that is we’ll be able to sustain growth over the long-term without big jumps brought on by oil prices.” Ball’s prediction is for overall Tulsa employment to grow by 1.5 percent annually for the next five years, which would be slower than previous recoveries from economic downturns at first. However, the energy sector alone is poised to grow faster at 3 percent per year, assuming an eventual recovery. The manufacturing sector also could see relief, as Ball expects Tulsa employers to increase their headcount by 3 percent per year over the same period, due to more favorable exporting opportunities thanks to a strong dollar.

The latest Marketplace-Edison Research Poll, developed as a measurement of Americans’ economic mood over time, shows that campaign anxiety wasn’t limited to Tulsa. In March 2016, 32 percent of Americans said they were losing sleep over the state of their personal finances. That number crept up to a high of 37 percent by the month before the election — then plunged back to 32 percent this year, which is the first drop measured by the poll since 2015. Local politics can play a role in commercial develop-

“Anytime you offer any kind of amenity that’s attractive to a young workforce, it helps.” — Bob Ball,

director of economic

ment as well, and Roberts is bullish on the impact of Mayor G.T. Bynum. “Tulsa’s been a better market because we’ve got new leadership with our new mayor, and I think we’re going to see the mayor and city council work together to bring new business to Tulsa,” Roberts said.

research at the Tulsa

David Roberts, a commercial broker with Coldwell Banker Select, said oil isn’t the only obstacle that’s been overcome in the past year. Presidential election years always cause some degree of uncertainty and hesitation from regular citizens and businesses alike, and this one was definitely no exception.

Ball reports the Chamber is now fielding more inquiries from regional and national companies looking to expand and potentially establish regional headquarters in the metro area. Not only will that continue to boost the local economy, this trend will continue to help Tulsa employment diversify and become even less sensitive to swings in the price of oil.

“Our economy took a big turn after Nov. 8,” he said. “Before the election, nobody wanted to do anything because no one knew what was going to happen. After the election, the floodgates opened up.”

The boost in jobs means more people could choose to make Tulsa their home. In fact, that might already be happening. According to data from the Greater Tulsa Association of Realtors, 7,319 homes changed hands during the first six

Regional Chamber

Tulsa has the nation’s second-fastest average commute time for a big city according to the U.S. Census Bureau.

Tulsa ranks No. 3 nationally for new and expanded facilities among Tier II cities (Site Selection 2016)

No. 1 city among top 100 metros on growth and inclusion (Brookings Institute 2016)

No. 1 city nationwide for young entrepreneurs (NerdWallet.com 2015)

No. 2 best city for first-time homebuyers (SmartAsset.com 2016)

No. 3 best north American city for energy (The World's Most Competitive Cities 2015)

No. 5 Guthrie Green among top 14 coolest urban spaces in America (ThrilList.com 2015)

No. 6 best state for lowest overall tax burden (WalletHub.com 2016)

Grow with us. Visit GrowMetroTulsa.com or call 800.624.6822 Brien Thorstenberg, CEcD Sr. Vice President, Economic Development Tulsa Regional Chamber brienthorstenberg@tulsachamber.com

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TULSA MARKET OVERVIEW

months of the year, up nearly 6 percent from the first half of 2016. What’s more, long-term Tulsans are becoming less hesitant to put their homes on the market and find new ones. After years of shrinking inventory, the number of homes for sale finally started to increase in 2017. June saw 7,953 active listings, up over 9 percent from the year before. Combine that with higher sale prices — the average reached $194,965, up 6 percent from 2016 — and you’ve got a strong indication that even committed residents are ready to spend more money in general, Ball said. “People who are looking to own a home or trade up are getting on the move,” he said. He estimates overall Tulsa consumer spending has stayed strong, and is likely equal to the national average spending rate.

Then there’s A Gathering Place. Though it has faced delays, the $400 million, 100-acre park being developed by the George Kaiser Family Foun-

Broken Arrow has

brought in an array of

new retail, restaurants and apartments as a part of its

transformation into the Rose District, including an $18 million multiuse building under construction.

“We’ve continued to spend disproportionately better than the jobs outlook, which was consistent with the last recession,” he said. “People kept filling parking lots in restaurants.” Even with the downturn, Tulsa is becoming a more attractive place to live. The downtown area continues to develop, including the Boxyard, a trendy new center completely built

from old shipping containers. That’s just one of the high-profile, new spaces featuring shops and restaurants to have opened in the past year. And the long-in-development Santa Fe Square, which will bring retail, office space and lodging to 600,000 square feet on two full city blocks, continues to move forward with the announcement of Hotel Indigo as the planned hotel.

dation will offer numerous activities for families when it’s finished in 2018. Ball said the visibility and attractiveness of these projects will help pull in workers and employers alike for the entire metro area, not just near downtown. “Anytime you offer any kind of amenity that’s attractive to a young workforce, it helps,” he said. “People want to be where there are things going on, and we’ve got plenty going on.”

It’s not just Tulsa’s downtown that’s receiving new life. Broken Arrow has brought in an array of new retail, restaurants and apartments as a part of its transformation into the Rose District, including an $18 million multi-use building under construction, and the downtowns of other cities are starting to see movement, as well.

“Everyone’s so happy with what Tulsa’s doing, they’re starting to do their own versions,” Ball said.

tional cutbacks and closures has yet to be seen, though he doesn’t believe it will drag down too many shopping centers.

But the abundance of new amenities and redevelopment brings challenges, too. Roberts said tenant mobility back to downtown areas, as well as tenants taking advantage of new developments in the southern part of the metro area, means older properties could become overlooked.

“Though some individual centers will be affected, I don’t think these closures will affect retail market as a whole,” he said.

“Our concern is that the new shopping centers were dominating, and older shopping centers had to come up with incentives to make them attractive.”

Even with the closures, retail continues to grow around Tulsa. Projects including Shops at Warren Place and the Mother Road Market announced impending construction, and two long-struggling

Tulsa’s showing a

healthy amount of

centers are starting to fill up following a successful repositioning of Riverwalk Crossing by the Creek Nation and the addition of Cost Plus World Market at Midtown Village.

development in To make matters thornier for retail properties, a general, with total wave of national brands Ball said Tulsa’s showing a non-residential conhave suffered due to stiff healthy amount of developcompetition from Amazon ment in general, with total struction reaching or other online retailers non-residential construc$621 million at the that can offer convenience tion reaching $621 million and low prices brick-andat the end of last year. end of last year. mortar stores are hardpressed to match. Brands As we head toward 2018, such as Macy’s, Payless Ball said Tulsa’s fundamenShoesource, KMart and tals are improving — the Sears have cut back, while long-term employment brands including Gordman’s, Radio Shack and outlook will move beyond simple stabilization to Gander Mountain have folded entirely. strength, and corporations are looking to grow in Tulsa. Those closures have resulted in more empty spaces in Tulsa — very big spaces in some cases, Roberts is also optimistic, though he’s already such as the Centennial Plaza shopping center on bracing for the next cyclical challenges. South Yale Avenue between East 15th and 21st streets that lost both a Gordman’s and a Sears. “I think things will continue to trend up, at least Roberts said the full extent of this wave of nauntil the next election,” he said. •

Tulsa has over 100 miles of bike trails. 11

U.S. ECONOMIC OVERVIEW

SLOW AND STEADY Slow growth has led to a modest outlook when it comes to the nation’s economy. For the past eight years, the U.S. economy has been like a caterpillar inching up a tall tree. It keeps making slow, steady progress, but a strong wind could break its grip and send it spiraling to the ground.

Snead said he is keeping his eye on the job market. Employment, in some ways, has been a bright spot. The jobless rate dipped to a 16-year low of 4.3 percent in mid-summer, with 153 million Americans working.

So far, a big enough gust hasn’t buffeted the branches. How much longer the winds will stay relatively calm, though, is unknown.

“A historically low jobless rate usually is seen just before a recession,” Snead noted.

“This is our ninth year of growth,” said Mark Snead, an economist at RegionTrack Inc., an Oklahoma Citybased forecasting firm. “Most expansions do not last that long. We know there’s a recession coming, we just don’t know when. I don’t think we’re going to see it this year. There are no indications at the moment.” Inflation remains in check. Interest rates, although rising slightly due to the actions of the Federal Reserve Board, still are very low. And energy prices remain moderate. Coupled with a gross domestic product growth rate hovering just above 2 percent, the result has been an economy that continues to simmer, but not boil. “Why has growth been so slow? We have a lot of good answers for that, but we don’t have any great answers,” Snead said. “The truth is, we really don’t know. “There have been some shifts nationwide. We have moved from a goods-producing economy, for instance, to a service-based economy. And, business investment has declined since the 1980s.”

Along with that marker, there also are some other dark aspects lurking in the labor statistics. First, incomes are still lagging, with annual wage gains only averaging 2.5 percent — significantly less than the 3 percent to 4 percent typically seen in growing economies. And, second, some critics contend there are so many people who are underemployed or have quit looking altogether that the effective jobless rate could be closer to 8 percent. The current mix of jobs in the U.S. makes it hard to determine employment, another economist said. “The effective jobless rate probably is somewhat higher than the official rate,” said Bob Ball, economic research director for the Tulsa Regional Chamber. “It’s a hard thing to get a handle on, though, because a lot of people are working for themselves now or doing contract work. So they are not all underemployed, necessarily. Some of their incomes are pretty good.”

BY JOHN STANCAVAGE 13

U.S. ECONOMIC OUTLOOK

The outcome of the 2016 presidential campaign also has thrown more uncertainty into the economic outlook. Although Donald Trump was elected on a variety of promises that were viewed by supporters to be pro-business and pro-growth, the former real estate mogul hasn’t been able to implement those ideas early in his term. Some pledges, such as Trump’s assertion he could increase GDP growth to 4 percent, have been questioned. “I think it’s unlikely we would reach 4 percent,” Snead said. “Even 3 percent would be quite a feat.” Despite doubts over whether Trump and Congress will be able to enact key business-stimulus legislation during his current four-year term, the stock market has reacted enthusiastically to the new president.

“For the equity markets, the most important leadership comes not from Washington, but from the chief executives of the big public companies,” Dollarhide said. “These managers are continuing to succeed. That’s why stocks are still rising.” Trying to find businesses that could flourish under President Trump has been tricky. Even commercial real estate and lodging — the industries where the new president made his fortune — are not certain to benefit from him occupying the White House.

“Why has growth been so slow? We have a lot of good answers for that, but we don’t have any great answers,” Snead said. “The truth is, we really don’t know.”

“Commercial real estate has been pretty healthy,” Snead said. “Loosening banking rules could help a bit, but I haven’t seen any other things that would affect that market.”

As Snead observed, though, banking is one area –Mark Snead, an economist at where leaders are optimisRegionTrack Inc., an Oklahoma tic about their prospects City-based forecasting firm. Following an overnight under Trump. The president panic after the election outhas talked of reducing regcome, the Dow Jones inulations and also has hired dustrial average went on a many financial executives in tear that took it above the his cabinet. By August, this 22,000 mark by mid-summer. had propelled financial shares to their highest level in 10 years. “At first, there was a response to the unknown — this wildcard who had just won. Then, Trump Dollarhide said many investors also have been gave a very soothing acceptance speech and it embracing tech stocks. calmed the markets,” said Jake Dollarhide, CEO of Tulsa-based Longbow Asset Management. “It’s not like back in the 1990s when you had Stock investors have remained upbeat all while a lot of technology companies selling for high the initial months of the Trump administration prices, but they didn’t really have a business have been a bumpy political ride. yet,” he said. “Now there are a lot of good,

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U.S. ECONOMIC OUTLOOK

strong, growing tech firms that are really doing something.” There also are a number of energy stocks that remain depressed, Dollarhide observed. “There are some that are pretty cheap, and could swing the other way if oil prices rise,” he said.

“With the price of petroleum where it is, there’s little incentive for companies to expand output,” he said. Another trend energy firms are facing is the growth in popularity of hybrids and all-electric cars. Chevy’s Bolt, for instance, is in short supply and the new Tesla Model 3 has made a big splash. Still, it will be a while before there are enough electric vehicles on the market to significantly alter the demand for gasoline, DeHaan said.

The crude market was soft during the first half of 2017, with benchmark West Texas Intermediate down 10 percent for the year 2018 U.S. and 20 percent from the OUTLOOK SUMMARY summer of 2016. Oil prices GDP GROWTH RATE: then rallied as inventories 2.25 percent to 2.5 percent. fell during prime vacation AVERAGE OIL PRICE: travel, the Organization of $50 to $52 a barrel. Petroleum Exporting CounINTEREST RATES: tries showed discipline on Small increases, but still historically low. output and political turmoil in Venezuela caused fears DOW JONES INDUSTRIALS AVERAGE: about production.

“These cars are just now getting sufficient range to be more practical,” the analyst said. “More charging stations are needed as well. It will be 10 to 20 years before we really see electrics start to have a substantial impact on the gasoline market.”

That timing may be fortunate, because oil producMAJOR STRENGTHS: Venezuela will be the tion has begun to decline in Very low jobless rate, rising stock market, moderate energy prices, country to watch as this some of the popular shale strong banking environment, year draws to a close and formations, such as the global upturn. throughout 2018, said Bakken, which runs through WEAKNESSES: Patrick DeHaan, senior Montana, North Dakota Weak salary growth, low capital investment, potential unrest analyst for market tracker and parts of Canada. Oil overseas, legislative uncertainty. gasbuddy.com. and natural gas produced from shale has helped the “There are two distinct sceU.S. cut its overseas imnarios,” he said. “One is if there are no signifiports, but some observers say output could fall cant problems in Venezuela or elsewhere. In that dramatically over the next 25 years if new techcase, we could see oil trade at $40 to $52 a barnology is not developed. rel. The other is if there is more trouble in Venezuela and sanctions, the range could be $50 to Along with energy prices, another key compo$70 a barrel.” nent for the economy is interest rates. After the nation suffered the Great Recession of 2007-08, Another Trump pledge was to reduce regulathe Federal Reserve Board lowered rates dramattions on domestic drilling, but DeHaan said that ically to spur lending and investment. The group doing so likely would not have much of an imhas stuck with this policy, only beginning to inpact on production right now. crease rates very slowly over the past 22 months. 24,000 possible.

The Fed left its key rate near zero for seven years. It made its first small increase in December 2015, followed by additional modest hikes in December 2016 and March and June of this year. Even those bumps still put the federal funds rate — the rate large banks charge each other for overnight lending — at 1 percent to 1.25 percent. This, in turn, lifted the prime rate — the rate banks charge their best customers — to 4.25 percent by late summer. There has been much speculation on how many more rate increases are planned for the rest of 2017 and next year. At times early in 2017, Fed Chair Janet Yellen sounded concerned about inflation, but some of her comments at mid-year indicated she was becoming less anxious. In August, the Fed’s most-watched inflation gauge increased only 1.4 percent, down from 1.9 percent a year ago. Slow growth in consumer wages has kept spending moderate, which has curbed price increases. “We could see the federal funds rate go over 2 percent in 2018,” Dollarhide predicted. “That’s still pretty low. I wouldn’t start to be too concerned until it rises to about 3 percent to 3.5 percent. “The point where I’d really get worried is if it got to 4 percent to 5 percent. That would just cut the stock market off at the knees.” Though that likely won’t happen in 2018, he said. Instead, Dollarhide said the Dow Jones average easily could climb above 24,000. “Of course, everything could flip and it could go below 20,000,” the money manager said. “But look at how resilient the market has been. We’ll have to watch North Korea, Venezuela and some of the other potential global conflicts. Overall,

though, right now I would say there’s good reason for optimism.” Dollarhide has plenty of company when he says the overall health of the rest of the world is critical to the U.S. The nation needs strong export markets, but economic fluctuations at some of the bigger countries abroad and developments like Russia’s meddling in the elections and Britain’s exit from the European Union have caused nervousness. Still, at mid-year, the global situation had improved enough for Morgan Stanley analysts to feel more upbeat going into 2018. “For the first time since 2010, developed markets and emerging markets are recovering in sync,” said Elga Bartsch, Morgan Stanley’s co-head of global economics, in a statement. “That’s a key change from the last seven years.” As a result, Morgan Stanley increased its projections slightly to 3.6 percent GDP growth worldwide in 2017 and 3.7 percent in 2018. The U.S., meanwhile, probably won’t do that well, according to a number of economists. They stress that there are many unknowns for 2018, including possible changes in the health-care market, tax reform that could affect investment, the effect of new trade policies, energy prices and shifts in financial markets. “It’s pretty clear that growth will continue next year in the range of 2.25 percent to 2.5 percent,” Snead said. The chamber’s Ball offered much the same outlook. “I think growth will be around 2.5 percent,” he said. “That disappoints some people, but it’s better than no growth.” •

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OFFICE OVERVIEW

A SYMBIOTIC RELATIONSHIP Partnerships and developments help advance Tulsa’s office offerings. /sym-bi-o-sis/ Definition: “A mutually beneficial relationship between different people or groups.” As we look at the emerging trends from previous years and the work that is happening in the Tulsa region, I believe that we can best describe the efforts to improve our city as a whole as “symbiosis.” The advances we have seen in the office market this past year cannot be solely attributable to things directly related to the office market itself. Rather it comes in the form of partnerships and developments as a whole. It was almost exactly 10 years ago this month that we started to experience a significant downturn in the stock market, causing one of the worst recessions in generations. In that time, we have experienced widespread downsizing in almost every industry across Tulsa causing a shift in thinking, strategy and investment. As we all know, this was hard on the office sector of commercial real estate as tenants optimized their employment structure, reduced their footprint, relocated or completely folded. This left holes in many office buildings around town causing vacancy rates to soar. Luckily, the market over the last eight years has been steadily rectifying itself and growing, showing positive indicators in many areas. Building owners have been able to fill some, if not most, of the large voids created in the last decade. Surprisingly, other industries, outside of oil and gas, have emerged to absorb some of those holes. The Tulsa Regional Chamber states that our largest industries are oil and gas, aerospace, health care, professional services and entertainment. The technology sector has proven substantial growth, not only locally but across the nation. JLL reports it was the fastest growing category among office users nationwide, with 82 percent growth. The Chamber states that tech is now one of seven core industries the Chamber is targeting for growth in Tulsa.

BY NEIL DAILEY 19

16,325.97

8 6 4

Oct. 2007

THOUSANDS

OFFICE OVERVIEW

1950

2000

The recent Logistyx relocation and Ingredion’s entrance to the market were big wins for the city and there are several other tech companies that are thriving. Jackson Technical is growing and making a large investment downtown in the East Village. Verinovum has expanded and took almost 20,000 square feet in the former Littlefield building. Consumer Affairs continues to grow, now occupying four floors in the Petroleum Club building. The University of Tulsa occupies 20,000 square feet in the former Blue Cross Blue Shield building on South Boulder Avenue. Phone Doctors purchased and occupies two floors in their building in Gunboat Park. There are several other tech attractions in the MSA to note including the Google plant expansions at MidAmerica. In regard to jobs, the Tulsa Regional Chamber’s economic development department reports there are three more companies which, at the time of this writing, have committed, but not announced a relocation to the area. So far, in this year alone, the Chamber has attracted over 545 net-new office jobs to the region that have not yet been publicly announced. It also is expected that these companies may undergo a rapid ramp-up in growth. To give you an idea of what the Chamber has done for the office market, let’s use this example. If we use an arbitrary average

of just 200+/- square feet per office job, that’s over 100,000 square feet of new space on just the publicly announced numbers this year. So, we should pose the question, “Why not relocate to our market?” Our office rates are low in comparison to other markets. According to JLL’s “Skyline” market report, which covers firstand second-tier cities and their high-rise office buildings, it notes, “…(nationwide) the price to rent space within the Skyline increased by more than 20 percent since 2010, setting a record at $44.55 per square foot in 2017, which is 15 percent above their previous peak. And Trophy real estate was even more expensive at $57.84 per square foot. Skyline rents were highest in New York ($87.90 per square foot), Washington, D.C. ($83.09 per square foot), San Francisco ($76.11 per square foot) and Boston ($62.13 per square foot). The fastest rent growth was seen in the mid-sized Sun Belt cities of Nashville (+27.4 percent), Austin (+24.2 percent), San Antonio (+21.2 percent) and Raleigh (+17.4 percent). For new tenants, buildout allowances now exceed asking rents at $47.23 per square foot, while the average rent-free period is stable at 6.7 months. This year, we expect to see new office space coming to the market that will help boost Skyline rents by 4.9 percent, which is nearly double the rent growth in 2016.” According to Xceligent, currently the weighted average of office space in Tulsa is $15.45 per square foot, with Class A averaging $21.11 per square foot in 2Q of this year. Although the rental comparisons with some of the other major metros sound bleak for a building owner, they are attractive to outside companies. This has helped us maintain a strong workforce and high employment. According to

the Bureau of Labor Statistics, Tulsaâ&#x20AC;&#x2122;s unemployment rate decreased 0.6 percentage points from 4.8 percent in January 2017 to 4.2 percent in April 2017. The unemployment rate for the U.S. was reported at 4.3 percent, equal to the unemployment rate for the state of Oklahoma. Employment opportunity has decreased by 1,000 positions in the Tulsa metropolitan statistical area over the past year. Office-using jobs (information, professional and business services and financial activities) have increased by 800 positions during the past year.

ing $15.45 per square foot in 2Q 2017. Class B rents have steadily increased by 1.2 percent year-over-year.

This job growth momentum, strong workforce and low cost of office space has led to growth. This growth reversed a negative absorption trend that was increasing since the 2Q of 2016. The Tulsa office market recorded a positive 70,774 square feet of absorption during 2Q 2017. Absorption is up from a negative 109,074 square feet in 1Q 2017. The total vacancy rate has decreased from 21.5 percent in 1Q 2017 to 21.2 percent at the close of 2Q 2017. The Broken Arrow submarket currently has zero vacancy. Overall weighted average rent growth has improved by 3.2 percent year-over-year, reflect-

space will move to direct vacancy in 2018.

After experiencing three consecutive quarters of negative absorption, the market has begun to recover, making headway during 2Q 2017. Absorption is expected to remain positive as nearly 20,000 square feet has already been pre-leased for 3Q 2017. Year-over-year sublease availability has increased by 27.3 percent, yet total vacancy for sublease space remains below 1 percent at this time. The majority of available sublease

Some of that absorption trend comes from several significant transactions announced including: Samson in First Place Tower taking over 60,000 square feet, Army Corps of Engineers in CityPlex Towers taking 109,000 square feet, Community Care taking over 140,000 square feet in Williams Towers, and the former MetLife headquarters comprised of 144,000 square feet currently under contract to an owner/user which will be reflected by year end. What are the things are taking place in the region to also effect the positive growth?

HISTORICAL VACANCY RATE & NET ABSORPTION Absorption

Vacancy

22%

100,000 50,000

21.5%

21%

(50,000)

20.5%

(100,000)

20%

(150,000)

19.5% Q2 2016

Q3 2016

Q4 2016

Q1 2017

Q2 2017

Change! We are changing the historical use of buildings and converting them from office to residential. This is widely evident downtown and office to residential conversions are effectively killing two birds with one stone. They are taking vacancy off the market and effectively creating more demand for remaining product. The additional benefit is that now you get a thriving residential market that demands qualify of life items such as places to eat, entertainment, places to shop for household items and groceries, etc. Projects such as the Meridia, the

The Tulsa Port of Catoosa is one of the largest, most inland river-ports in the U.S.

OFFICE OVERVIEW

Palace, the Tulsa Club building, the Adams Building, Y-Lofts in the former YMCA, Transok conversion, Parker Drilling building and others have taken hundreds of thousands of square feet of office space offline and added a growing demographic of downtown residents. Also, building owners are taking responsibility for their assets and continuing to invest in their existing product through updating infrastructure and making capital improvements in things like elevators, HVAC/mechanical, IT upgrades, LED lighting and other quality-of-life items like rooftop accessible areas, landscaping and exterior signage upgrades. This brings a new and exciting dynamic to downtown Tulsa in which visitors and residents will be immediately plugged into the market. Creating demand for other goods and services and the ability to walk or bike to work. This is a fresh and exciting time for the new generation of businesses that are growing in town. As we start to climb out of these vacancies, we should expect new product to come into the market place. There have been several mixed use projects announced, some of which have broken ground. Those include Santa Fe Square with 170,000 square feet of office, Jackson Technical with 18,878 square feet in the East Village, the Ross Group building by ONEOK Field for mixed-use development, and 10,000 square feet coming at 3314 E. 71st St. How can we get better? According to the Chamber, it entertains several RFPs every quarter. It has been cited that a majority of the office requests it has are for Class A space. However, based on the requirements, there is a lack in Class A office vacancy needed to ac-

commodate some of these companies, as well as amenities that are experienced in some of these competing regional cities. FORECAST There is quite a bit of momentum within the Tulsa region that is allowing it to appear on more and more company radars across the country. The Chamber’s proactive approach to recruiting business levers the wonderful elements that have taken shape over the past few years. Things such as the creation of public venues like Guthrie Green, A Gathering Place and the robust River Parks system; the revitalization of retail areas like Broken Arrow’s Main Street, Cherry Street, Brookside; as well as emergence of new developments throughout the region through private investment all make great selling points to encourage office relocation. Washington, D.C. Denver, New York San Franciso Peninsula, Silicon Valley San Francisco Atlanta, Chicago, Dallas, Nashville Austin, Boston, Salt Lake City Los Angeles Portland, Seattle-Bellevue Minneapolis, Raleigh-Durham

PEAKING

FALLING

RISING

BOTTOMING

Charlotte, Orange County, Tampa

Oakland-East Bay Miami, Phoenix

Columbus, Indianapolis

Cleveland, Jacksonville, Milwaukee, Richmond Louisville, San Antonio New Jersey, Westchester County

Fort Worth, Philadelpia, San Diego, Suburban Maryland Baltimore, Fort Lauderdale, Northern Virginia, Orlando, Pittsburgh, Sacramento Cincinnati, Detroit, Hampton Roads, North Bay, St. Louis Fairfield County, Hartford, Long Island, West Palm Beach Houston

The name Tulsa comes from the Creek word Tallasi, which is the shortened word for Tallahassee meaning “old town.”

www.us.jll.com/valuation-advisory

Nationally, JLL has reported in their 2017 Outlook report secondary markets, particularly those in the Sun Belt “continue to experience strong rent growth due to organic tightening, a lack of supply and inward migration of tenants and residents from higher-cost geographies. Heading into the second half of 2017 and into 2018, we expect rents to continue their rise on the back of deliveries and economic growth, with corresponding increases in vacancy to bring the market into more neutral conditions.” As evidenced by their JLL Office Clock, we still have time for more growth. With the exception of Houston, just about every city in America is undergoing the same resurgence. You will see that a lot of our regional competition are in the “Rising Phase” and indicate the same data we are seeing locally.

Insight Turning market insight into client advantage Offering: Appraisals Consulting Due Diligence Litigation Support Property Tax Services Purchase Price Allocations Market and Feasibility Studies

Owen Ard, MAI Tulsa +1 918.492.4844

Darin Dalbom, MAI Oklahoma City +1 405.721.1133

I believe that Tulsa fits well into the description of the Sun Belt cities as well and that we are, and will continue to, experience the same growth and absorption trend that we have seen over the past year. Let’s keep working together and have a great 2018. •

ARCHITECTURE ENGINEERING INTEGRATED ITâ&#x20AC;&#x2122;S RELATIONSHIPS WE BUILD | TULSA, OKLAHOMA | CYNTERGY.COM

Zones

North Tulsa

Owasso

Central

Southwest Tulsa

Northeast Tulsa

West Tulsa

Midtown

South Tulsa

Northwest Tulsa

CBD

East Tulsa

Broken Arrow

SOURCE: XCELIGENT

Skiatook Lake

Owasso

E 126th St N

E 116th St N

52nd W Ave

Sperry

Valley Park

E 98th St N

Northwest

86th St. N.

78th St N



Gundys Airport

Owasso

U. S

76th St. N.

66th St. N.

Dawson

CBD

Riverside Dr

Carbondale

61st St.

Union

r Rive

71st St. Corridor

Casino Oral Roberts District University



75 Richard Loyd

Jones Jr Airport

W ill Ro ge rs Tu rn pi ke

New Tulsa Broken Arrow

81st St.

91st St. 101st St.

South

169

111th St.

Mu sk og ee Tu rnp ike Onetta

Broken Arrow

145th E Ave 151st St.

131st St. E 141st St S 161st E Ave

141st St

129th E Ave

Mingo Rd

Memorial Dr

Sheridan Rd

Yale Ave

Harvard Ave

Lewis Ave

Peoria Ave

Elwood Ave

Bixby

Garrett Rd

Broken Arrow Loop

Glenpool 33rd W Ave

East

Creek Nation Trnpk

Jenks

Southwest

49th W Ave

21st St.

Fair Oaks

51st St.

Sapulpa

97th W Ave

11th St.

41st St. Br ok en Ar row Ex pw y 61st St.

sas

Tu rne rT urn pik e



Harvey Young Airport

169

41st St. Corridor

Historic U.S. 66

Cre ek Tur npi ke

412

31st St.

Midtown

n Arka

Bowden

West

66 S. U.

244

W 61st St.

ic or st Hi

Central 21st St.

Oakhurst

Catoosa

Garnett

Mingo Valley Expwy

Sand Springs

Northeast

Apache St.

Creek Turnpike

Tulsa

36th St. N.

Pine St.

244

Crosstown Expwy

Keystone Expwy

Ex pw y

46th St. N.

Creek Turnp ike

Pkwy LL Tisdale

Gli cre ase

Tulsa International Airport

Mingo Valley Expwy



Mowhawk

Verdigris

56th St. N.

North

Skyline Ridge

E 530 Rd

169

Turley

Hi st or ic

68th W Ave

Limestone

OFFICE | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

BROKEN ARROW BA

BERKSHIRE PLAZA 1615 & 1621 S EUCALYPTUS AVE. BROKEN ARROW, OK 74012

BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145

36,231 2 2000, 2002

5,150 9,353 0

$17 74.2%

PHOENIX CENTER 2341 W ALBANY BROKEN ARROW, OK 74012

AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A, BROKEN ARROW, OK 74012

28,000 1 2002

3,000 3,000 0

$7.50 89.3%

TIMBERCREST PARK 1700 W ALBANY ST BROKEN ARROW, OK 74012

AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A, BROKEN ARROW, OK 74012

35,626 2 1987

12,000 12,000 0

$9 66.3%

WOLF CREEK OFFICE PARKS 2446-2500 W NEW ORLEANS BROKEN ARROW, OK 74011

BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145

24,071 1 2008

4,305 7,057 0

$12.50 70.7%

CBD

110 WEST SEVENTH 110 W 7TH ST TULSA, OK 74103

TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / DEREK BATEMAN / 918-812-6879 2448 EAST 81ST , SUITE. 188 TULSA, OK 74137

451,355 28 1972

40,171 79,855 16,067

$17.50 82.0%

CBD

1215 S BOULDER OFFICES 1215 S BOULDER AVE TULSA, OK 74133

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

124,766 12 1954

20,660 20,660

$12.50 83.4%

CBD

201 EXECUTIVE CENTER 201 W 5TH ST TULSA, OK 74103

PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15E 5TH ST, SUITE 1600 TULSA, OK 74103

74,303 6 1975

11,362 39,004 0

$12 47.5%

CBD

317 MAIN MALL BUILDING 317 S MAIN TULSA, OK 74103

BUMGARNER ASSET MGMT / TERRY ARGUE / 918-587-1900 401 S BOSTON, SUITE 3400 TULSA, OK 74103

30,878 4 1907

7,000 14,174

$13 54.1%

CBD

320 SOUTH BOSTON BUILDING 320 S BOSTON TULSA, OK 74103

BUMGARNER ASSET MGMT / TERRY ARGUE / 918-587-1900 401 S BOSTON, SUITE 3400 TULSA, OK 74103

387,916 24 1917

34,457 122,245 0

$16 68.5%

CBD

616 S BOSTON AVE 616 S BOSTON AVE TULSA, OK 74119

HARRELL RESIDENTIAL / BRUCE HARRELL / 254-772-9639 4315 LAKE SHORE DR, SUITE M WACO, TX 76710

88,719 6 1925

5,000 12,000 0

$10 86.5%

CBD

8:10 BUILDING 810 S CINCINNATI TULSA, OK 74119

TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / DEREK BATEMAN / 918-812-6879 2448 EAST 81ST , SUITE 188, TULSA, OK 74137

80,000 6 1924/2015

0 0 0

$16.50 100%

CBD

BANK OF AMERICA CENTER 15 W 6TH ST TULSA, OK 74119

PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103

288,776 32 1967/1985

10,357 33,082 0

$14 88.5%

CBD

BANK OF OKLAHOMA TOWER 101 E 2ND ST TULSA, OK 74102

GEMINI ROSEMONT REALTY SERVICES / KELLY MCKOY / 720-445-4440 26900 E. BRIARWOOD CIRCLE, AURORA, CO 80016

1,140,684 52 1978

22,655 61,860 0

$19 94.6%

CBD

BEACON BUILDING 406 S BOULDER TULSA, OK 74103

THE BEACON BUILDING / TIM DRISKILL / 918-660-0090 124 E ST, TULSA, OK 74103

115,237 9 1928

11,500 15,000 0

$12.50 87%

CBD

BOVAIRD BUILDING 823 S DETROIT AVE TULSA, OK 74103

MAIN SQUARE TOWERS, INC. / RACHEL COX / 918-398-2745 1601 S MAIN TULSA, OK 74159

70,000 4 1970

5,000 5,000 0

$11.50 92.9%

CBD

FIRST PLACE TOWER 15 E 5TH ST TULSA, OK 74103

PRICE FAMILY PROPERTIES / JOE NEAL / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103

624,374 41 1956-1973

107,761 163,774 7,890

$14 73.8%

CBD

FOUR HUNDRED BUILDING 400 S BOSTON TULSA, OK 74103

RIVER CITY DEV. / JEREMY CIMMERER / 918-584-0331 427 S BOSTON, SUITE 915 TULSA, OK 74103

53,200 13 1965

4,200 14,697 0

$11 72.4%

CBD

HOLARUD 10 E 3RD ST TULSA, OK 74103

CORPORATE REALTY ADVISORS / NICK PROBST / 918-392-1950 3150 E. 41ST ST., SUITE 102, TULSA, OK 74105

52,792 8 1923

30,000 30,000 0

$11 43.2%

CBD

MAIN PLAZA I & II 614-616 S MAIN TULSA, OK 74119

PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103

51,788 3 1930

5,960 20,936 0

$12 59.6%

CBD

MID-CONTINENT TOWER 401 S BOSTON AVE TULSA, OK 74103

BUMGARNER ASSET MANAGEMENT / TERRY ARGUE / 918-587-1900 401 S BOSTON AVE, SUITE 3400, TULSA, OK 74103

321,500 36 1917/1984

15,924 71,765 0

$18.50 77.7%

CBD

ONE PLACE BUILDING 201 S DENVER AVE TULSA, OK 74103

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-481-5380 5810 E SKELLY DR, SUITE 1900 TULSA, OK 74135

49,386 5 2012

0 0 0

CBD

ONE TECHNOLOGY CENTER 100 S CINNCINNATI TULSA, OK 74103

CBRE, INC. / ANGELA WEST / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

626,942 15 2001

48,073 69,821 0

CBD

100% $20 88.9%

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

CBD

PAGE BELCHER FEDERAL COURTHOUSE 333 W 4TH ST TULSA, OK 74103

CBRE, INC. / MARY MARTIN / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

454,534 3 1967

81,683

82.0%

CBD

PARK CENTRE 525 S MAIN TULSA, OK 74103

PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103

180,461 14 1973

36,848 102,590 0

$15 43.2%

CBD

PETROLEUM CLUB BUILDING 601 S BOULDER TULSA, OK 74119

PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103

118,083 16 1962/1995

7,930 36,697 0

$14 68.9%

CBD

PHILCADE NORTH 501 S BOSTON AVE TULSA, OK 74103

PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103

270,038 14 1929

99,967 205,904 0

$12 23.7%

CBD

PHILCADE SOUTH 519 S BOSTON AVE TULSA, OK 74103

PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103

158,295 13 1967

158,295 158,295 0

$12 0%

CBD

PYTHIAN BUILDING 19 W 5TH AVE TULSA, OK 74103

PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103

43,248 3 1930

2,000 3,849 0

$12 91.1%

CBD

RENAISSANCE BUILDING 515 S MAIN TULSA, OK 74103

FLORIS HILLS / FLORIS HILLS / 918-585-2751 515 S MAIN TULSA, OK 74103

30,000 6 1981

11,408 15,149 0

$17.50 49.5%

CBD

REUNION CENTER 9 E 4TH ST TULSA, OK 74103

CORPORATE REALTY ADVISORS / NICK PROBST / 918-392-1950 3150 E 41ST ST, SUITE 102, TULSA, OK 74105

94,560 10 1919

12,000 45,500 0

$14 51.9%

CBD

THE KENNEDY BUILDING 321 S BOSTON AVE TULSA, OK 74103

BUMGARNER ASSET MANAGEMENT / TERRY ARGUE / 918-587-1900 401 S BOSTON AVE, SUITE 3400, TULSA, OK 74103

165,202 10 1917/1980

16,545 57,466 9,000

$16 65.2%

CBD

THE PHILTOWER BUILDING 427 S Boston Ave Tulsa OK, 74103

McGraw Realtors has been locally owned and managed since 1938 and will be celebrating 80 years in business in 2018. The commercial division was founded in 2008 and since then we have acquired some of the most sought after listings in The Greater Tulsa Area. We now have 15 Commercial Real Estate Agents as well as a team dedicated to Commercial Property Management. We look forward to continued growth alongside our great city!

• • • • •

Locally owned and operated. Gorgeous neo-gothic lobby in travertine marble. Building-wide WiFi Internet access Attached, covered parking with 24 hour controlled access Restaurant & juice bar on the first floor with access to the Atlas Marriott lobby, Atlas Grill, deli and coffee shop.

Contact: Lisa Brandes and Neil Dailey, 918-388-9588

THE PHILTOWER BUILDING 427 S BOSTON AVE TULSA, OK 74103 McGraw Commercial Properties

MCGRAW COMMERCIAL PROPERTIES / LISA BRANDES AND NEIL DAILEY / 918-388-9588 4105 S ROCKFORD AVE, TULSA, OK 74105

102,212 23 1928

20,000 25, 519 0

$16 80.0%

CBD

SUN BUILDING 907 S DETROIT TULSA, OK 74120

COATES COMMERCIAL PROPERTIES / ANDERLE KHALED / 918-292-8510 4111 S DARLINGTON, SUITE 640, TULSA, OK 74135

250,707 12 1954

18,582 64,366 0

$12 74.3%

CBD

THOMPSON BUILDING 20 E 5TH ST TULSA, OK 74103

NAI RUPE HELMER, LLC / PAM AVISON / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

134,080 15 1928

8,434 40,210 0

$12.50 70.0%

CBD

Industrial . Warehouse . Office . Land . Multi-Family . Retail . Medical /mcgrawcp /mcgraw-commercial-proper ties @mcgraw_cp

This iconic 24-story building built by Waite Phillips during the city’s oil boom has been a part of Tulsa’s downtown skyline since 1928.

CBD

4105 S. Rockford Ave. Tulsa, OK 74105 918.388.9588 www.mcgrawcp.com

WILLIAMS CENTER TOWERS I & II

• Two class “A” distinctive towers in the heart of downtown • Immediate access to Hyatt hotel, downtown restaurants and shopping • State-of-the-art building technology • Executive Garage • Newly renovated main lobbies and elevators

One West 3rd Street & Two West 2nd Street

Contact: Daniels Greer Properties, LLC, 918-742-7500

CBD

WILLIAMS CENTER TOWER I ONE W 3RD ST TULSA, OK 74103

DANIELS GREER PROPERTIES, LLC / 918-742-7500 ONE WEST THIRD, SUITE 1200 TULSA, OK 74103

314,589 17 1982

15,000 21,000 0

$16 93.3%

CBD

WILLIAMS CENTER TOWER II TWO W 2ND ST TULSA, OK 74103

DANIELS GREER PROPERTIES, LLC / 918-742-7500 ONE WEST THIRD, SUITE 1200 TULSA, OK 74103

455,411 23 1983

19,859 19,859 0

$16 95.6%

CBD

WILLIAMS RESOURCE CENTER 2 E 1ST ST TULSA, OK 74102

WILLIAMS / GEORGE SHAHADI / 918-573-2857 ONE WILLIAMS CENTER, MD 45 TULSA , OK 74172

229,037 3 1978

0 0 0

$25 100%

TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S COLUMBIA, SUITE 650, TULSA, OK 74114

23,979 1 -

14,391 14,391 0

$13.50 40%

CENTRAL CENTRAL

GSA BUILDING 7906 E 33RD ST TULSA, OK 74145

NOTE EXPANDED LISTING

OFFICE | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

CENTRAL

GUARANTY BUILDING 10159 E 11TH ST TULSA, OK 74128

RUFFIN PROPERTIES / CARL VINCENT / 918-493-7100 7130 S LEWIS, SUITE 250 TULSA, OK 74136

98,316 6 1983

15,767 31,034 0

$14 68.4%

CENTRAL

TECHRIDGE OFFICE PARK / BLAINE 9820 E 41ST ST TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

58,870 4 1980

4,705 11,369 0

$12.50 80.7%

CENTRAL

TECHRIDGE OFFICE PARK / CHEROKEE 4150 S 100TH E AVE TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

53,522 4 1980

9,492 14,109 0

$12.50 73.6%

CENTRAL

TECHRIDGE OFFICE PARK / COMANCHE 4115 S 100TH E AVE TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

56,551 2 1979

0 0 0

$12.50 100%

CENTRAL

TECHRIDGE OFFICE PARK / GRANT 4110 S 100TH E AVE TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

35,429 2 1978

4,338 9,096 0

$12.50 74.3%

CENTRAL

TECHRIDGE OFFICE PARK / GREER 9920 E 42ND ST TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

39,357 2 1978

14,448 14,448 0

$12.50 63.3%

CENTRAL

TECHRIDGE OFFICE PARK / LOGAN 3840 S 103RD E AVE TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

62,560 2 1981

2,761 33,120 0

$12.50 47.1%

CENTRAL

TECHRIDGE OFFICE PARK / MILES 4135 S 100TH E AVE TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

33,788 2 1979

9,436 9,436 0

$12.50 72.1%

CENTRAL

TECHRIDGE OFFICE PARK / OSAGE 9726 E 42ND ST TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

29,030 2 1974

1,088 6,352 0

$12.50 78.1%

CENTRAL

TECHRIDGE OFFICE PARK / PAWNEE 9910 E 42ND ST TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

39,750 2 1979

10,245 10,245 0

$12.50 74.2%

CENTRAL

TECHRIDGE OFFICE PARK / ROGERS 9717 E 42ND ST TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

46,128 2 1975

2,053 9,224 0

$12.50 80.0%

CENTRAL

TECHRIDGE OFFICE PARK / SEMINOLE 9810 E 42ND ST TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

48,300 2 1977

2,142 10,998 0

$12.50 77.2%

CENTRAL

TECHRIDGE OFFICE PARK / WOODWARD 3810 S 103RD E AVE TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

58,835 2 1982

47,072 30,437 0

$12.50 48.3%

EAST EAST

• Immediate access to the Broken Arrow Expressway & Highway 169 • On-site Deli • Fully Sprinklered • On-site Management • Electronic card access sysuitem • Shops and restaurants close by

4500 EXCHANGE TOWER 4500 South Garnett Road

Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900 EAST

4500 EXCHANGE TOWER 4500 S GARNETT TULSA, OK 74146

PARADIGM REALTY ADVISORS / CHERYL ZUMWALDE / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146

158,397 10 1982

2,125 2,125 0

$14.50 98.7%

EAST

CORPORATE WOODS 4500 S 129 E AVE TULSA, OK 74134

MERIT PROPERTIES / FRED BEASLEY / 918-495-0500 6846 S CANTON AVE, SUITE 510 TULSA, OK 74136

553,000 3 1980

24,703 57,080 0

$16.50 89.7%

EAST

EASTGATE METROPLEX 14002 E 21ST ST TULSA, OK 74134

SIMON PROPERTY GROUP / 317-636-1600 225 W WASHINGTON ST INDIANAPOLIS, IN 46204

1,016,451 3 1985

84,058 394,869 0

$14 61.2%

EAST

EXCHANGE CENTER

• High Visibility • Immediate access to Broken Arrow Expressway & Highway 169 • Terrific location • Ample parking • On-site property management

4606-4608 South Garnett Road

Levy Strange Bef fort

Contact: Warren Stewart, Newmark Grubb Levy Strange Beffort, 918-481-3200

EAST

EXCHANGE CENTER 4606-08 S GARNETT TULSA, OK 74146

NEWMARK GRUBB LEVY STRANGE BEFFORT / WARREN STEWART / 918-481-3200 2021 S LEWIS , SUITE 410 TULSA, OK 74104-5710

140,006 12 1979

13,908 30,072 0

$14.50 78.5%

EAST

SOUTHPARK 4343 S 118TH E AVE BROKEN ARROW, OK 74146

AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A, BROKEN ARROW, OK 74012

115,653 2 1972

10,000 15,600 0

$11.75 86.5%

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

EAST

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

• Three (3) Building Complex • Excellent access to Highway 169 and Broken Arrow Expressway • Individual HVAC controls • Shops and restaurants close by • Electronic card access sysuitem • Large efficient floor plates

TOWNE CENTRE 10810-10830 East 45th Street

Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900 EAST

TOWNE CENTRE 10810-20-30 E 45TH ST TULSA, OK 74146

PARADIGM REALTY ADVISORS / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146

180,845 3 1980

8,911 60,880 0

$12.50 66.3%

EAST

UNION PINES 4700 S GARNETT TULSA, OK 74146

TRAMMEL CROW COMPANY / MICHELLE ANDERSON / 405-680-5642 1900 NW EXPRESSWAY, OKLAHOMA CITY, OK 73118

134,298 2 1999

0 0 0

$15.50 100%

MIDTOWN MIDTOWN

1307 S BOULDER 1307 S BOULDER TULSA, OK 74119

EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

44,360 4 1999

3,500 13,000 0

$18 70.7%

MIDTOWN

2021 LEWIS CENTER 2021 S LEWIS TULSA, OK 74104

NEWMARK GRUBB LEVY STRANGE BEFFORT / WARREN STEWART / 918-481-3200 2021 S LEWIS , SUITE 410, TULSA, OK 74104-5710

87,346 7 1985

3,903 9,359 0

$18 89.3%

MIDTOWN

21 CENTRE PARK 2642 E 21ST STREET TULSA, OK 74114

CLARK INTERESTS / MANAGER / 918-749-9998

39,842 2 1982

5,658 5,658 0

$15.50 85.8%

MIDTOWN

21 LEWIS PLAZA 2424 E 21ST ST TULSA, OK 74114

GEMINI ROSEMONT REALTY SERVICES / KELLY MCKOY / 720-445-4440 26900 E BRIARWOOD CIRCLE, AURORA, CO 80016

72,238 5 1967

1,752 3,004 0

$16.50 95.8%

MIDTOWN

3000 CENTER 3015 E SKELLY DR TULSA, OK 74105

DLRE, INC. / DEAN LEWIS / (918) 895-6700 3015 E SKELLY DR, SUITE 410 TULSA, OK 74105

63,508 2 1972

7,300 7,300 0

$11.50 88.5%

MIDTOWN

3100 CENTER 3105 E SKELLY DR TULSA, OK 74105

BAUER & ASSOCIATES / VICKI TAPP / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145

55,326 0 1972

2,500 11,200 0

$11.50 79.8%

MIDTOWN

BOSTON PLACE 1516 S BOSTON TULSA, OK 74119

MAIN SQUARE TOWERS, INC. / RACHEL COX / 918-398-2745 1601 S MAIN TULSA, OK 74159

44,611 4 1983

0 0 0

$14.50 100%

MIDTOWN

BOULDER TOWERS 1437 S BOULDER TULSA, OK 74119

CBRE, INC. / TERRY PAYNE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

521,802 15 1960/1980

6,993 18,136 6,911

$16.25 96.5%

MIDTOWN

CBRE OKLAHOMA BUILDING 1401 S BOULDER TULSA, OK 74119

CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

42,428 3 1954

0 0 0

$13 100%

MIDTOWN

COLUMBIA OFFICE BUILDING 2651 E 21ST TULSA, OK 74114

DLRE, INC. / DANNY OVERTON / 918-895-6700 3015 E SKELLY DR, SUITE 410 TULSA, OK 74105

33,176 5 1959

1,440 2,200 0

$15.50 93.4%

MIDTOWN

COMMERCE TOWER

• • • • • • •

5801 East 41st Street

On-site Deli Conference Room Storage On-Site Fully Sprinklered Conveniently located near expressway sysuitem Full Service bank on-site Electronic card access sysuitem

Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900 MIDTOWN

COMMERCE TOWER 5801 E 41ST TULSA, OK 74135

MIDTOWN

CORPORATE PLACE

PARADIGM REALTY ADVISORS / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146

93,735 10 1981

• • • • • •

5800 East Skelly Drive

9,735 18,381 0

$14 80.4%

Superb skyline views Conference room Parking garage On-site deli Electronic card access sysuitem Recently renovated lobby

Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900

MIDTOWN

CORPORATE PLACE 5800 E SKELLY DR TULSA, OK 74135

NOTE EXPANDED LISTING

PARADIGM REALTY ADVISORS / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146

117,384 13 1973

2,747 11,206 0

$14 90.5%

OFFICE | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

MIDTOWN

FORMER SCOTTISH RITE BUILDING 6355 E SKELLY DR TULSA, OK 74135

CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

53,700 3 1967

53,700 53,700

$6.48 0%

MIDTOWN

FOUNTAIN PLAZA 4815-4867 S SHERIDAN TULSA, OK 74145

BAUER & ASSOCIATES / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145

87,700 1 1970

1,337 22,087

$11.50 74.8%

MIDTOWN

FULTON 46 BUILDING 5350 E 46TH ST TULSA, OK 74135

BAUER & ASSOCIATES / SHEILA COOPER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145

23,347 2 1978

6,298 8,798 0

$10.50 62.3%

MIDTOWN

HARVARD 41 4130-4154 S HARVARD TULSA, OK 74135

MONTE DUNHAM R.E. / PERRY DUNHAM / 918-627-4230 6355 E 41ST ST TULSA, OK 74145

40,000 2

1,965 5,104 0

$14.50 87.2%

MIDTOWN

HARVARD CENTER 3010 S HARVARD TULSA, OK 74114

TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / DEREK BATEMAN / 918-493-8888 2448 EAST 81ST, SUITE 188 TULSA, OK 74137

46,490 4 1965

3,048 10,866 0

$12.50 76.6%

MIDTOWN

HARVARD GARDENS 4520 S HARVARD TULSA, OK 74135

MONTE HERREL / 918-671-5262 TULSA, OK 74103

23,219 2 1981

1,806 3,337 0

$15 85.6%

MIDTOWN

HARVARD TOWER 4815 S HARVARD AVE TULSA, OK 74135

BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145

66,500 6 1969

5,164 14,918 0

$11.75 77.6%

MIDTOWN

INTERNATIONAL PLAZA

• • • • • • •

1350 South Boulder

Superb Location in the heart of uptown Tulsa Terrific 360° Views Marvelous Interior Finishes Common Area Meeting Room Exercise Facility, Lockers and Showers Great Proximity to the IDL and BA Expressway Ample onsite parking

Contact: Barry K. Boethin, 1350 S Boulder, Suite 100, 918-585-6488 MIDTOWN

INTERNATIONAL PLAZA 1350 S BOULDER TULSA, OK 74119

INTERNATIONAL PLAZA / BARRY BOETHIN / 918-585-6488 1350 S BOULDER, SUITE 100 TULSA, OK 74119

115,000 12 1957

12,315 31,175 0

$16 72.9%

MIDTOWN

MAIN SQUARE TOWERS 1601 S MAIN TULSA, OK 74119

MAIN SQUARE TOWERS, INC. / 918-398-2745 1601 S MAIN TULSA, OK 74159

52,440 5 1969

1,000 1,000 0

$10.75 98.1%

MIDTOWN

MAPCO PLAZA

• • • • • • • • •

1717 South Boulder Avenue

On-site management & ownership and after-hours security Abundant free parking including covered executive parking New 75 seat common area conference center with AV equipment Standby generators provide protected power 24/7 New fitness center with men’s/women’s locker rooms and showers Easy access to expressways and within 25 minutes of any point in Tulsa 24-hour card access system and CCTV River Trails and A Gathering Place within walking/biking distance AT&T and Cox updated infrastructure

Contact: Patrick Coates, Coates Commercial Properties, LLC, 918-610-0700 MIDTOWN

MAPCO PLAZA 1717 S BOULDER AVE W TULSA, OK 74119

COATES COMMERCIAL PROPERTIES / PATRICK COATES 4111 S DARLINGTON, SUITE 640 TULSA, OK 74135

140,825 10 1983

20,000 17,276 0

$16.50 87.7%

MIDTOWN

MERIDIAN TOWER 5100 E SKELLY DR TULSA, OK 74135

CBRE, INC. / MARY MARTIN / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

205,891 10 1981

13,715 16,567 0

$20 92.0%

MIDTOWN

MIDWAY OFFICE BUILDING 2727 E 21ST TULSA, OK 74114

TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S COLUMBIA, SUITE 650, TULSA, OK 74114

46,769 6 1974

2,245 5,118 0

$14.50 89.1%

MIDTOWN

NORTHWESTERN BUILDING 202 S CHEYENNE AVE TULSA, OK 74105

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-481-5380 5810 E SKELLY DR, SUITE 1900 TULSA, OK 74135

54,473 5 2012

4,562 4,562 0

$25.50 91.6%

MIDTOWN

PARKLAND PLAZA 2121 S COLUMBIA TULSA, OK 74114

TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S COLUMBIA, SUITE 650, TULSA, OK 74114

52,415 7 1969

1,400 4,532 0

$11.50 91.4%

MIDTOWN

PEACHTREE SQUARE 4157 S HARVARD TULSA, OK 74135

EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E 41ST STREET, SUITE 101, TULSA, OK 74135

25,000 1980

0 0 0

$12.50 100.0%

MIDTOWN

SOUTHLAND TOWER 4111 S DARLINGTON TULSA, OK 74135

COATES COMMERCIAL PROPERTIES / PATRICK COATES 4111 S DARLINGTON, SUITE 640 TULSA, OK 74135

115,376 12 1995

10,654 41,558 10,654

$14.75 64.0%

MIDTOWN

ST. JOHN BUILDING CORP 1924 S UTICA TULSA, OK 74104

UTICA SERVICES / MIKE ABBOTT / 918-744-2965 1923 S UTICA TULSA, OK 74104

123,480 14 1975

0 0 0

$14 100%

MIDTOWN

THE COLONIAL BUILDING 1325 E 15TH ST TULSA, OK 74120

TULSA LAND COMPANY LLC / JOSHUA A. WALKER / 918-605-2807 1325 EAST 15TH ST., SUITE 200, TULSA, OK 74120

29,173 2 1927

0 0 0

$18 100%

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

MIDTOWN

UTICA PLACE 2200 S UTICA PL TULSA, OK 74114

UTICA PLAZA CO., LLC / MISTY SIMMONS / 918-955-1300 21ST & UTICA TULSA, OK 74114

110,000 10 2008

6,000 6,000 0

$25 94.5%

MIDTOWN

UTICA PLAZA 2100 S UTICA TULSA, OK 74114

UTICA PLAZA CO., LLC / MISTY SIMMONS / 918-955-1300 21ST & UTICA TULSA, OK 74114

115,558 5 1996

0 0 0

$19 100.0%

MIDTOWN

WESTERN FINANCIAL CENTER 4880 S LEWIS TULSA, OK 74105

CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

50,098 2 1983

13,717 18,040 0

$15 64.0%

NORTH NORTH

AIRPORT OFFICE WAREHOUSE 2133 N SHERIDAN TULSA, OK 74115

WOLF GROUP PROPERTIES, LLC / HOWARD WOLF / 918-584-1425 320 S BOSTON AVE, SUITE 202, TULSA, OK 74103

29,680 1 2002

4,200 10,000 0

$6 66.3%

NORTH

VERIZON CHEROKEE CAMPUS 6929 N LAKEWOOD AVE TULSA, OK 74117

PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 8242 SOUTH HARVARD, SUITE I TULSA, OK 74137

860,000 2 1985

366,345 276,645 0

$13 67.8%

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

53,755 1 1969

30,000 22,088 0

$12.50 58.9%

TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / DEREK BATEMAN / 918-493-8888 2448 EAST 81ST, SUITE 188, TULSA, OK 74137

65,000 2 2009

12,000 23,900

$19 63.2%

NORTHEAST NE

GREEN VALLEY CENTER 11333 E PINE ST TULSA, OK 74116

OWASSO OWASSO

FIRST BANK CENTER 8601 N GARNETT ROAD OWASSO, OK 74055

SOUTH SOUTH

• Superb Location • Conference Room • Close proximity to restaurants, shopping, lodging and banking • Easy access to I-44 • Overlooks Lafortune Park and golf course • Electronic card access system • Large efficient floor plates

51 YALE BUILDING 5110 South Yale

Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900 SOUTH

51 YALE BUILDING 5110 S YALE TULSA, OK 74135

PARADIGM REALTY ADVISORS / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146

69,960 5 1982

4,226 12,503 0

$13.50 82.1%

SOUTH

6655 LEWIS BUILDING 6655 LEWIS BUILDING TULSA, OK 74135

NAI RUPE HELMER, LLC / MATT SURRETT / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

50,672 3 1986

21,406 34,565

$18.50 31.8%

SOUTH

7127 RIVERSIDE 7127 S RIVERSIDE TULSA, OK 74136

TRAK-1 / DAN ROBERTS / 918-779-7000 7131 RIVERSIDE PARKWAY TULSA, OK 74136

36,273 1 1993

0 0 0

$13 100%

SOUTH

AMERICAN PLAZA 6011 S URBANA AVE TULSA, OK 74101

PAINE & ASSOCIATES / BRIAN PAYNE / 918-269-6990 400 RIVERWALK TERRACE, SUITE 250 JENKS OK 74037

81,000 8 2013

2,936 2,936

$23.50 96.4%

SOUTH

ATLANTA SOUTH OFFICE PARK 2502-2532 E 71ST TULSA, OK 74136

TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S COLUMBIA, SUITE 650, TULSA, OK 74114

81,450 1 1980

4,765 13,546 0

$12 83.4%

SOUTH

AUTUMN OAKS 6846 S CANTON TULSA, OK 74136

NAI RUPE HELMER, LLC / MATT SURRETT / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

117,590 7 1982

21,714 29,430 0

$15 75%

SOUTH

BANC FIRST BUILDING 7625 E 51ST TULSA, OK 74145

BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145

34,164 5 1983

0 0 0

SOUTH

BOK PLACE AT SOUTHERN HILLS 5727 S LEWIS TULSA, OK 74105

CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

124,464 8 1985

6,765 13,627 0

100% $19.50 89.1%

NOTE EXPANDED LISTING

OFFICE | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

SOUTH

BRADEN PARK 7170 S BRADEN TULSA, OK 74136

CBRE, INC. / TERRY PAYNE / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

26,333 2 1990

2,183 2,183 0

$14 91.7%

SOUTH

BRADFORD PLACE 9175 S YALE TULSA, OK 74137

NAI RUPE HELMER, LLC / PAM AVISON / 918-745-1133 5810 E SKELLY DR., SUITE 1400 TULSA, OK 74135

30,000 3 2002

0 0 0

$18.50 100%

SOUTH

BRANIFF MART 5401 S SHERIDAN AVE TULSA, OK 74145

EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E 41ST STREET, SUITE 101, TULSA, OK 74135

32,000 0 1978

4,200 10,500 0

$10 67.2%

SOUTH

BRIDGEPORT III

• • • • • •

6450 South Lewis

Recently remodeled common areas Prime location near Southern Hills Country Club Nearby restaurants, shopping and banks Easy access to I-75, I-44 and Creek Turnpike Local owners and management 24-hour key card access to building

Contact: Scott Morgan Coury Properties, Inc., 918-556-8214 SOUTH

BRIDGEPORT III 6450 S LEWIS TULSA, OK 74136

COURY PROPERTIES, INC. / SCOTT MORGAN / 918-583-0201 7134 S YALE, SUITE 400 TULSA, OK 74136

48,499 3 1986

4,462 8,210 0

$14.50 83.1%

SOUTH

BRIDGEPORT OFFICE PARK 6400 S LEWIS AVE TULSA, OK 74136

DLRE, INC. / DANNY OVERTON / (918) 895-6700 3015 E SKELLY DR, SUITE.410 TULSA, OK 74105

36,000 2 1982

14,000 1,000

$12.50 97.2%

SOUTH

CENTRAL PARK BUILDING 8908 S YALE AVE TULSA, OK 74137

CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

53,177 24 1989/1995

2,466 2,466 0

$19 95.4%

SOUTH

CITYPLEX TOWERS

• 24/7 operations & security • On-site food court, conference & banquet facilities, meeting rooms, auditoriums, convenience store, • Large, efficient floor plates • Two primary electrical feeds with automatic transfer • Dual entrance sonet ring fiber optics • Additional development sites for build-to-suit

2408-2488 East 81st Street

Contact: Michael Predovic, Trinity Corporate Real Estate Advisors, 918-493-8888 SOUTH

CITYPLEX TOWERS 2408-2488 E 81ST TULSA, OK 74137

SOUTH

COPPER OAKS (PHASES I & II)

TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / MICHAEL PREDOVIC / 918-493-8888 2448 EAST 81ST , SUITE. 188, TULSA, OK 74137

1,592,590 203,060 1981

88,850 643,599 0

$14-$15 63.0%

• Copper Oaks is an office Complex consisting of 4 different buildings • One of south Tulsa’s best locations • Close to restaurants, shopping, medical and more • Multiple leasing options available • On-site banking

7010-7060 South Yale Avenue

Contact: Warren Stewart, Newmark Grubb Levi Strange Beffort, 918-508-2800

Levy Strange Bef fort SOUTH

COPPER OAKS (PHASES I & II) 7010-7060 S YALE TULSA, OK 74136

NEWMARK GRUBB LEVY STRANGE BEFFORT / WARREN STEWART / 918-481-3200 2021 S LEWIS, SUITE 410, TULSA, OK 74104-5710

55,790 21 1983

1,037 4,171 0

$14.50 92.5%

SOUTH

CORPORATE OAKS 5555 E 71ST TULSA, OK 74136

OIL CAPITAL COMMERCIAL / MIKE SCHNAKE / 918-622-6066 5555 E 71ST ST, SUITE 8300, TULSA, OK 74136

52,257 3 1984

2,856 12,335 0

$14.50 76.4%

SOUTH

ETON SQUARE OFFICE CENTRE 8321 E 61ST ST TULSA, OK 74133

CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

40,442 2 1985

11,854 14,373 0

$11 64.5%

SOUTH

EXECUTIVE CENTER I

• • • • • • •

7136 South Yale Avenue

Superb Corner Location at 71st and Yale Newly Renovated Lobbies and Common Areas On-site Management Attractive Landscaping Ample Parking On-site Banking, Deli and Other Amenities Fiber Telecommunications Available

Contact: Scott Morgan, Coury Properties, Inc., 918-556-8214 SOUTH

EXECUTIVE CENTER I 7136 S YALE TULSA, OK 74136

COURY PROPERTIES, INC. / SCOTT MORGAN / 918-583-0201 7134 S YALE, SUITE 400 TULSA, OK 74136

73,637 5 1982

5,393 10,247 0

$16.50 86.1%

SOUTH

EXECUTIVE CENTER II 7134 S YALE TULSA, OK 74136

COURY PROPERTIES, INC. / SCOTT MORGAN / 918-583-0201 7134 S YALE, SUITE 400 TULSA, OK 74136

113,369 9 1984

14,180 23,334 0

$16.50 79.4%

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

SOUTH

FOX PLAZA 5416 S YALE TULSA, OK 74135

TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S COLUMBIA, SUITE 650, TULSA, OK 74114

80,930 6 1970

3,024 13,688 0

$12 83.1%

SOUTH

GEOPHYSICAL RESOURCE CAMPUS 8801 S YALE TULSA, OK 74137

CUSHMAN & WAKEFIELD / COMMERCIAL OKLAHOMA INC. / JARED ANDRESEN / 918-359-3520 4111 S DARLINGTON, SUITE 1190, TULSA, OK 74135

104,530 5 1984

6,470 25,133 0

$21 76.0%

SOUTH

GEOPHYSICAL RESOURCE CAMPUS 8811 S YALE (NEW BUILDING) TULSA, OK, 74137

CUSHMAN & WAKEFIELD / COMMERCIAL OKLAHOMA INC. / JARED ANDRESEN / 918-359-3520 4111 S DARLINGTON, SUITE 1190, TULSA, OK 74135

104,530 4 2015

6,470 25,133 0

$21 76.0%

SOUTH

IBC TOWER 2250 E 73RD ST TULSA, OK 74136

PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 8242 SOUTH HARVARD, SUITE I TULSA, OK 74137

62,998 6 1982

6,632 14,689

$16 76.7%

SOUTH

INTERNATIONAL TOWER 5200 S YALE AVE TULSA, OK 74135

BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145

32,836 7

2,768 15,345 0

$11 53.3%

SOUTH

KAISER BUILDING 6733 S YALE TULSA, OK 74136

NEWMARK GRUBB LEVY STRANGE BEFFORT / WARREN STEWART / 918-481-3200 2021 S LEWIS , SUITE 410, TULSA, OK 74104-5710

54,900 5 1990

SOUTH

KENSINGTON BUSINESS CENTER 7140 S LEWIS AVE TULSA, OK 74136

RUFFIN PROPERTIES / CARL VINCENT / 918-493-7100 7130 S LEWIS, SUITE 250 TULSA, OK 74136

235,973 2 1983

16,542 56,183 0

$15.50 76.2%

SOUTH

KENSINGTON TOWER I 7130 S LEWIS TULSA, OK 74136

RUFFIN PROPERTIES / CARL VINCENT / 918-493-7100 7130 S LEWIS, SUITE 250 TULSA, OK 74136

164,592 10 1984

46,039 79,483 0

$18.50 51.7%

SOUTH

LEWIS PARK 5319 S LEWIS TULSA, OK 74105

PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E 63RD PL, SUITE 400 TULSA, OK 74133

17,805 2 1985

0 0 0

$12.50 100%

SOUTH

LEWIS SQUARE OFFICE PARK 6202 S LEWIS TULSA, OK 74136

PARAMOUNT COMMERCIAL PROP. / ALAN HARJU / 918-743-8000 6202 S LEWIS, SUITE E, TULSA, OK 74136

28,344 1 1981

1,845 2,858 0

$13 89.9%

SOUTH

MARKET PLACE WEST 9410 E 51ST ST TULSA , OK 74145

NAI RUPE HELMER, LLC / MAX HEIDENREICH / 918-745-1133 6846 S CANTON AVE, SUITE 250, TULSA, OK 74136

27,160

1,928 1,928 0

$8.25 92.9%

SOUTH

1984

MIDFIRST BANK PLAZA

• • • •

7050 South Yale Avenue

$13.50 100%

Great location in South Yale Corridor Full service bank on-site Convenient to shopping, restaurants and banking Electronic card access system

Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900

SOUTH

MIDFIRST BANK PLAZA 7050 S YALE TULSA, OK 74136

PARADIGM REALTY ADVISORS / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146

44,870 4 1979

12,194 39,384 0

$14.50 12.2%

SOUTH

OAK CLIFF TERRACE I & II 6711 & 6717 S YALE TULSA, OK 74136

TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S COLUMBIA, SUITE 650, TULSA, OK 74114

36,005 2 1976

4,519 10,664 0

$12 70.4%

SOUTH

ONE MEMORIAL PLACE 7633 E 63RD PL TULSA, OK 74133

PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E 63RD PL, SUITE 400 TULSA, OK 74133

88,796 5 1981

15,916 47,810 16,370

$16.50 46.2%

SOUTH

OXFORD PLACE

• • • • • •

6600 & 6666 S Sheridan

Superb South Tulsa Location Covered Parking Richly Appointed Entries and Common Areas Flexible floor plans Abundant Landscaping Major Remodel & Improvements Completed in 2013

Contact: Alan Harju, Paramount Commercial Properties, LLC, 918-743-8000 or 918-645-2355 SOUTH

OXFORD PLACE 6600-6666 S SHERIDAN ROAD TULSA, OK 74133

SOUTH

PARK TOWERS 5314 South Yale Avenue

PARAMOUNT COMMERCIAL PROP. / ALAN HARJU / 918-743-8000 6202 S LEWIS, SUITE E, TULSA, OK 74136

82,611 4 1986/2013 • • • • • • •

7,240 12,265 0

$17 85.2%

On-site banking w/Drive-Thru Convenient location in the geographic center of Tulsa along the popular Yale Office corridor overlooking Lafortune Park Recently renovated building lobby Distinctive architecture makes Park Towers one of the most identifiable buildings in the city Local ownership ensures prompt and professional attention to Tenant’s needs Abudant surface parking lot with recent asphalt overlay and re-striping Efficient floor plates with small and large blocks

Contact: Jason M. Kennon, Case & Associates Properties, Inc., 918-492-1983

SOUTH

PARK TOWERS 5314 S YALE TULSA, OK 74135

CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135

110,020 11 1981

12,117 32,252 0

$17 70.7%

NOTE EXPANDED LISTING

OFFICE | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

SOUTH

PRISM OFFICE BUILDING 8282 S MEMORIAL TULSA, OK 74133

TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S COLUMBIA, SUITE 650, TULSA, OK 74114

80,450 4 1982

1,389 1,389 0

$15 98.3%

SOUTH

RICH & CARTMILL BUILDING 2738 E 51ST TULSA, OK 74105

PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E 63RD PL, SUITE 400 TULSA, OK 74133

45,683 4 1985

0 0 0

$14 100%

SOUTH

RICHMOND PLAZA

• • • •

Attractive granite and glass exterior Stunning views of the city Immediate access to the city’s expressway system Less than 15 minutes to Downtown, and to Tulsa’s International and Riverside Airports • Near hotels, restaurants, shopping centers and recreation • On-Site banking facilities with ATM

4200 East Skelly Drive

Contact: Jason M. Kennon, Case & Associates Properties, Inc., 918-492-1983 SOUTH

RICHMOND PLAZA 4200 E SKELLY DR TULSA, OK 74135

SOUTH

RIVERBRIDGE OFFICE PARK

CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135 • • • • •

1323 East 71st Street

166,332 11 1983

4,716 4,716 0

$21.50 97.2%

Easy access to Riverside Drive, Highway 75 and Interstate 44 Close proximity to restaurants, shopping, lodging and banking Only minutes from Downtown Tulsa Granite Lobby Electronic card access system

Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900 SOUTH

RIVERBRIDGE OFFICE PARK 1323 E 71ST TULSA, OK 74136

PARADIGM REALTY ADVISORS / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146

63,838 4 1984

17,015 30,779 0

$14.50 51.8%

SOUTH

RIVERWALK CROSSING 300-100 RIVERWALK JENKS, OK 74137

PAINE & ASSOCIATES / MATT MARDIS / 918-481-5380 5810 E SKELLY DR, SUITE 1900 TULSA, OK 74135

111,162 2

11,700 13,500

$15 87.9%

SOUTH

ROAD SCIENCE BUILDING 6502 S YALE AVE TULSA, OK 74136

CUSHMAN & WAKEFIELD / COMMERCIAL OKLAHOMA INC. / JARED ANDRESEN / 918-359-3520 4111 S DARLINGTON, SUITE 1190, TULSA, OK 74135

188,041 3 1987

109,508 109,508 109,508

$12 41.8%

SOUTH

SHADOW MOUNTAIN OFFICE CENTER 5840 S MEMORIAL TULSA, OK 74145

TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S COLUMBIA, SUITE 650, TULSA, OK 74114

66,500 3 1980

9,814 26,565 0

$10.50 60.1%

SOUTH

SOUTHERN HILLS PLAZA 6218 S LEWIS TULSA, OK 74136

CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648

25,478 2 1973

2,434 6,392 0

$12 74.9%

SOUTH

SOUTHERN HILLS TOWER 2431 East 61st Street

• • • •

Magnificent view of Southern Hills Country Club and Golf Course Executive Covered Parking High Quality, Class A Office Building Nearby restaurants, retail centers, hotel, convention facilities and exclusive residential neighborhoods • Easy access to I-44, Hwy 75, Riverside Drive and the Creek Nation Turnpike • On-site banking facilities with drive-thru and ATM Contact: Jason M. Kennon, Case & Associates Properties, Inc., 918-492-1983

SOUTH

SOUTHERN HILLS TOWER 2431 E 61ST TULSA, OK 74136

CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135

151,879 8 1981

21,000 25,094 0

$21 83.5%

SOUTH

SOUTHERN OAKS 7335 S LEWIS TULSA, OK 74136

CUSHMAN & WAKEFIELD / COMMERCIAL OKLAHOMA INC. / JARED ANDRESEN / 918-359-3520 4111 S DARLINGTON, SUITE 1190, TULSA, OK 74135

31,728 3 1985

3,545 10,283 0

$15 67.6%

SOUTH

SOUTHERN RIDGE

• • • • • • •

6506 South Lewis Avenue

Prime Locations near Southern Hills Country Club Renovated Lobbies and Common Areas Ample Lighted Parkings 24-hour Access Fiber Telecommunications Available Prompt Attention by Building Management Attractive Lease Rates

Contact: Scott Morgan, Coury Properties, Inc., 918-556-8214 SOUTH

SOUTHERN RIDGE 6506 S LEWIS TULSA, OK 74136

COURY PROPERTIES, INC. / SCOTT MORGAN / 918-583-0201 7134 S YALE, SUITE 400 TULSA, OK 74136

65,705 2 1984

4,347 12,540 0

$13 80.9%

SOUTH

THE PARK 5151-5157 E 51ST TULSA, OK 74135

FEARS & CLARK / BRAXTON FEARS / 918-481-2080 11620 E SKELLY DR TULSA, OK 74135

56,756 2 1977

56,756 56,756 0

$12.50 0%

SOUTH

THERMAFIL BUILDING 5001 E 68TH ST TULSA, OK 74136

NEWMARK GRUBB LEVY STRANGE BEFFORT / WARREN STEWART / 918-481-3200 2021 S LEWIS, SUITE 410, TULSA, OK 74104-5710

49,775 5 1985

9,859 11,594 0

$13.50 76.7%

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

SOUTH

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

• • • • • •

High Quality Building Fully Sprinklered 2 Floors Scenic Atrium Easy walking distance to restaurants, shopping and banking Close proximity to Woodland Hills Mall, Doubletree Hotel and Southern Hills Country Club • Electronic card access system

THREE MEMORIAL PLACE 7615 East 63rd Place

Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900 SOUTH

THREE MEMORIAL PLACE 7615 E 63RD PL TULSA, OK 74133

PARADIGM REALTY ADVISORS / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146

44,870 2 1982

6,934 12,159 0

$15 72.9%

SOUTH

TRIAD CENTER I 7666 E 61ST TULSA, OK 74133

NAI RUPE HELMER, LLC / 918-745-1133 6846 S CANTON AVE, SUITE 250 TULSA, OK 74136

139,528 6 1982

15,733 31,066 0

$16.50 77.7%

SOUTH

TRIAD II 7645 E 63RD ST TULSA, OK 74133

TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S COLUMBIA, SUITE 650, TULSA, OK 74114

151,023 6 1986

104,894 104,848 0

$15 30.5%

SOUTH

TWO MEMORIAL PLACE

• • • • •

Class “A” Building Recently renovated granite/lobby/common areas Fully sprinklered building On-site deli Close proximity to Woodland Hills Mall, Doubletree Hotel and Southern Hills Country Club, Eton Square and Manchesuiter Square Shopping Center • Total building back-up generator • Electronic card access system

8023 East 63rd Place

Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900 SOUTH

TWO MEMORIAL PLACE 8023 E 63RD PL TULSA, OK 74133

PARADIGM REALTY ADVISORS / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146

134,183 8 1982

15,638 20,473 0

$16.50 84.7%

SOUTH

WALNUT CREEK OFFICE COMPLEX 82ND & HARVARD TULSA, OK 74137

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S SHERIDAN, TULSA, OK 74133

19,605

1,113 1,290 0

$14 93.4%

SOUTH

WARREN PLACE

• Nearly one million square feet of office space in two award-winning towers • Central South Tulsa location - 61st and Yale • 52 acre landscaped office campus • Located with the elegant Doubletree Hotel

6100 South Yale Avenue

Contact: Kelly McKoy, 918-403-9160 kmckoy@mckoycompnay.com SOUTH

WARREN PLACE ONE 6100 S YALE TULSA, OK 74136

GEMINI ROSEMONT REALTY SERVICES / KELLY MCKOY / 720-445-4440 26900 E BRIARWOOD CIRCLE, AURORA, CO 80016

470,025 20 1983

57,157 121,157 71,582

$24 74.2%

SOUTH

WARREN PLACE TWO 6120 S YALE TULSA, OK 74136

GEMINI ROSEMONT REALTY SERVICES / KELLY MCKOY / 720-445-4440 26900 E BRIARWOOD CIRCLE, AURORA, CO 80016

489,870 19 1986

26,275 56,288

$24 88.4%

SOUTH

WATERFORD PLAZA 9108 S YALE AVE TULSA, OK 74133

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-481-5380 5810 E SKELLY DR, SUITE 1900 TULSA, OK 74135

28,883 A 2007

8,993 11,193 0

$15 61.2%

SOUTHWEST SW

FIRST OKLAHOMA BANK BUILDING 100 S RIVERFRONT DR JENKS, OK 74037

WATERMARK COMMERCIAL PROPERTIES / DORINDA HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137

58,000 6 2014

0 0 0

$22 100%

GATEWAY OFFICE PLAZA US HWY 75 @ W 96TH ST JENKS, OK 74037

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-481-5380 5810 E SKELLY DR, SUITE 1900 TULSA, OK 74135

85,000 4 2015

21,250 42,500 0

$25.50 50.0%

NOTE EXPANDED LISTING

NAIOP 2017 NAIOP Members

DICK ALABACK McGraw Commercial Properties GRANT ALLEN HUB International CFR OWEN ARD JLL Valuation and Advisory Services MICHAEL ARGO Bauer and Associates Inc. DREW ARY Keller Williams Realty DAVID ATKINSON One Property Management DEREK BATEMAN Trinity Corporate Real Estate Advisors LLC BRIAN BEAM Owasso Land Trust WILLIAM BEICHLER McGraw Commercial Properties DAVID BENDEL Siegfried Companies Inc. PAM BEWLEY Commercial Title and Escrow Services Inc. RACHEL BLANKENSHIP Secure Title and Escrow LLC RYAN BRAH McGraw Commercial Properties SUSAN BUCK Flintco LLC CHRIS BUMGARNER Bumgarner Asset Management MELISSA BUSSEY KW Realty Advantage JARED CABLE Grand Bank

CHRISTOPHER CARTER Hall Estill

ANDREW HAVENS Security Bank

MATTHEW MARDIS Paine and Associates LLC

JOE ROBSON The Robson Companies Inc.

JOSH CHESNEY Cyntergy AEC

BRIAN HUNT Cherokee Nation Businesses

RYAN MCDANIEL Blue Sky Bank

DAVID COBB Terracon Consultants Inc.

COLLIER IMGRUND Newmark Knight Frank

JEFFREY METCALF CBRE/Oklahoma

PATRICK ROONEY First National Bank of Oklahoma

ANDREW COFFEY Arvest Bank

CARA LEIGH INGRAM McGraw Commercial Properties

BILL MILLER BancFirst Tulsa

NEIL DAILEY McGraw Commercial Properties

TIM JAMES Crossfirst Bank

TAMIE SEMLER Secure Title and Escrow LLC CAITLIN SHORES CBRE

BRIAN DARNELL HUB International CFR

WILLIAM JONES PrayWalker

CODY MOSLEY Broken Arrow Economic Development Corp.

LAUREN SMITH Valley National Bank

FRANK DAVIES Davies Architects

CRYSTAL KELLER Crystal Keller Consulting

JOE NEAL Price Family Properties

ASHLEY STEPHENSON WorkSpace Resource Inc.

RAYMOND DAVIS McGraw Commercial Properties

JASON KENNON Case and Associates

ALICIA NOLEN GBR Properties

DAVID STEWART Mid-America Industrial Park

DAVE KOLLMANN Flintco LLC

CHAD OSGOOD Highgate General Contractors Inc.

ALAN TAYLOR Wallace Engineering

ANDREW DOSSEY McGraw TANDA FRANCIS Price Edwards and Co.

JESSE KREINER Tulsa Federal Credit Union

DANNY OVERTON DLRE Inc.

GARY KRISMAN McGraw Commercial Properties

GENE PHILLIPS Wallace Engineering

ALEX LEIKAM Bank of Oklahoma N.A.

ALEXANDER POWELL CBRE

GREG GANZKOW G7 Group - Coldwell Bank

ROBERT LEIKAM American Residential Group LLC

NICK PROBST Corporate Realty Advisors LLC

BLAKE GOSSETT RECO Enterprises

MIKE LESTER Newmark Knight Frank

JOHN GRAY McGraw Commercial Properties

KIMBERLY LEWIS FirsTitle

AARON GADDY Claymore Construction Management LLC STEVE GANZKOW American Residential

RICHARD GUILD Guild Company LLC

NICHOLAS LOMBARDI Frisbie Lombardi Commercial Real Estate Services

RETA HALLAM LDKerns Contractors

HUGH LONG Hall Estill

SCOTTY HARPER Paine and Associates LLC

DAVID LOONEY McGraw Commercial Properties

ZACHARY HARRIS Stan Johnson Company

RONALD LOONEY BLR Properties Inc. MICHAEL MAHANEY Paine and Associates LLC

SCOTT MORGAN Coury Properties

HUNT ROSE Stan Johnson Co.

STEPHANIE PUTZKE Cyntergy AEC

MATT THOMPSON Thompson Construction Inc. BRIEN THORSTENBERG Tulsa Regional Chamber JASON TING Ting Realty PHILLIP TOMLINSON Stan Johnson Co. CAITIE-BETH TRUITT Truco Development

ERIC RALSTON Crossfirst Bank

CAREY VELEZ McGraw Commercial Properties

CHRIS RECTOR Firstar Bank

STEVEN WATTS Persimmon Group

CASSIE REESE Nabholtz

KENNETH WEBB Blackshare Environmental Solutions

JERRY REEVES Investment Real Estate LLC ALYNCHIA REYNOLDS Look Properties WILLIAM RICHERT Richert Properties Inc.

LUKE WESTERFIELD Home Finders Leasing and Management Inc ALICIA WOHL GH2 Architects CHERYL ZUMWALDE NAI Rupe Helmer

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R E TA I L O V E R V I E W

ADJUSTMENT PERIOD Tulsa’s retail landscape adjusts to big box closures and looks to booming shopping districts and industries for a positive future. This just in! News outlets across America are reporting that retail is dying. That it’s dead. That there will be no retail renaissance unless your company name ends with “dot com.” Well, I’m here to tell you that these reports are #FakeNews. Read my lips: Retail is alive and well. But as we examine today’s retail climate, we must acknowledge that the climate is changing; and with change comes opportunity. We would all be wise to understand the diverse array of factors causing this change so that we might prepare and adapt here in the Tulsa metro area. As Walter Cronkite noted, “In seeking truth, you have to get both sides of the story.” And so, I have some bad news and good news for you. THE BAD NEWS In 2017, nine national retail companies filed for bankruptcy. The bankrupt companies included Gymboree, rue21, Payless Shoesource, Gordman’s Stores, Gander Mountain, Radio Shack, hhgregg, Wet Seal and The Limited. Furthermore, multiple retailers announced major store closures, including Macy’s, J.C. Penney, Sears and Kmart. What is the cause of this collapse? According to The Atlantic there are three explanations: 1. People are buying more things online than they used to. Between 2010 and 2016, Amazon’s sales in the United States increased from $16 billion to $80 billion. In addition to Amazon’s increasing sales, other online companies such as Tuft and Needle, Warby Parker and HelloFresh have opened and taken sales dollars from the brickand-mortar stores.

BY CAITLIN SHORES, CCIM 39

R E TA I L O V E R V I E W

2. Oversupply of retail real estate. The U.S. has

into account the recent closures of Class A big

significantly more retail real estate per person

boxes including Gordman’s, Macy’s and Gander

at 23.5 square feet than any other nation, com-

Mountain which added 309,700 square feet of

pared with 16.4 square feet in Canada and 11.1

empty storefronts.

square feet in Australia. This needs to change. According to CoStar’s Director of Retail Re-

As evident in the chart on this page, Tulsa has

search Suzanne Mulvee, “There’s about a bil-

almost 2 million square feet of vacant retail box

lion square feet of retail space that needs to go

space. If Mulvee is right, Tulsa needs to lose or

away, that needs to be converted, for the market

reposition the 840,578 square feet class C box

to get healthy.”

space. These spaces may be better positioned as industrial, office or other non-retail classifi-

3. Shift of how people are spending money.

cations. The Class A and B boxes are still valid

Consumer spending in areas such as clothing,

retail locations; however, landlords will need to

furniture and cars has experienced a steady de-

make some changes.

cline. But, hotel occupancy, airline ticket sales, restaurants and entertainment are booming. To-

THE GOOD NEWS

day’s consumer is more concerned about dining,

The Tulsa market has some shining stars and ac-

entertainment and an experience rather than

tive users with several openings in 2017. In the

buying material items.

Broken Arrow Trade Area, Sky Fitness and Wellbeing opened in a 25,000-square-foot former

What does all of this mean for Tulsa? According

Drug Warehouse at County Line Shopping Cen-

to CoStar, the Tulsa Retail Vacancy has increased

ter, which was recently renovated. White River

to 4.1 percent from 3.9 percent in the previous

Fish Market also joined this shopping center.

quarter. Retail net absorption was negative at

At Hillside Crossing, Hobby Lobby opened in

96,806 square feet. These numbers do not take

a 55,000-square-foot new building. GBT Realty constructed a new 10,400 square-foot building at Hillside with 2017 openings of Jersey Mike’s

BIG BOX VACANCY

Subs, Wingstop, Tropical Smoothie Cafe, J. Spencer Jewelry and Gifts, and Cox Communi-

1,000,000 886,142

Square Feet

750,000

cations. The Shops at Broken Arrow delivered Phase II in 2017. This addition, comprised of

553,713

500,000

72,000 square feet, will be the home to Ross

495,935

Dress For Less, Ulta, Michaels and Dollar Tree.

250,000

The Midtown Trade Area experienced some 0

Class A

Class B

Class C

absorption, as well. Cost Plus World Market opened in a new 18,000 square-foot space at

LOST

LOCATION

GAINED

East 21st Street and South Yale Avenue Cherry Street East 91st Street and South Yale Avenue East 103rd Street and South Memorial Drive Stillwater Cherry Street East 81st Street and South Yale Avenue

Midtown Village. This new anchor caused a rip-

the same intersection, developers announced a

ple effect of additional stores to this develop-

redevelopment plan for the Burlington building.

ment including Skechers Factory Outlet, DaVita

This user will condense to approximately 55,000

Dialysis and Salon Service Group. These three

square feet, which will leave about 37,000

users leased a comprised total of 19,439 square

square feet for CBRE to lease.

feet that has been vacant since 2005. Cherry Street experienced some changes with closures

The active retail users and 2017 deals have

of Genghis Grill, Noodles and Co., Full Moon

shared similar characteristics. Discount, service,

Cafe and My Fit Foods. But most of these spac-

fitness and restaurants are the most active cate-

es have been backfilled by Salata, Orangetheory

gories. These users have been absorbing retail

Fitness and Crushed Red.

spaces throughout the Tulsa market. As consumers change, through online shopping and

The Woodland Hills Corridor also experienced

seeking experience-based retail, landlords also

some retail wins. Crossing Oaks at East 71st

are going to be required to change. Demising

Street and South Memorial Drive is under re-

big box spaces to accommodate smaller users

development with the addition of Tulsa’s first

is going to be a trend. Those spaces will be

WinCo Foods and a new Ross Dress For Less.

filled by discount retailers, health clubs, medi-

Ross opened this year, and WinCo Foods will

cal users, hair salons and restaurants, as they are

open in 2018. This development spurred ab-

seen to be the most internet resistant. Tulsa’s re-

sorption of retail space nearby as the former

tail future is looking up, and to paraphrase Mr.

tenants of this center were forced to relocate.

Cronkite, “That’s the way it is.” •

Hobby Town USA and High Gravity Homebrewing and Winemaking moved into nearly 20,000 square feet at the Village at Woodland Hills. At

Tulsa is sometimes referred to as the Magic Empire. 41

RETAIL | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (GLA) % LEASED YEAR BUILT

SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE

RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE

BROKEN ARROW BA

ASPEN CREEK 2000 W HOUSTON ST BROKEN ARROW, OK 74012

WALMAN COMMERCIAL / BOB REPPE / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

36,794 85.9% 1984

2,090 3,100 5,190

$9 $12 $2.95

BIG LOT CENTER / SOUTHERN AGRICULTURE 91ST & ELM NW/C BROKEN ARROW, OK 74012

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN TULSA, OK 74133

42,000 100.0% 1992

0 0 0

$8 $10 $1.32

BROKEN ARROW PLAZA RETAIL CENTER 6405-6450 S ELM PL BROKEN ARROW, OK 74012

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

38,506 65.8% 2008

1,200 9,750 13,150

$18 $18 $0

BROKEN ARROW TOWNE CENTRE 101ST & ELM BROKEN ARROW, OK 74012

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN TULSA, OK 74133

92,453 61.8% 1985

1,081 16,016 35,302

$8 $11 $2.45

COUNTY LINE SHOPPING CENTER 1005-1205 E KENOSHA BROKEN ARROW, OK 74012

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

64,828 93.9% 1979

1,311 2,617 3,928

$10 $10 $1.35

KENOSHA COMMERCIAL CENTER 4601 W KENOSHA ST BROKEN ARROW, OK 74012

PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PLACE, STE. 400 TULSA, OK 74133

25,831 71.0% 2006

1,200 2,943 7,488

$17.50 $17.50 $5.43

KENOSHA CROSSING 1208 E. KENOSHA BROKEN ARROW, OK 74012

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

20,000 79.9% 1998

1,401 2,615 4,016

$15

LAURENWOOD SQUARE 1091 S ASPEN AVE BROKEN ARROW, OK 74012

SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135

46,893 92.0% 1985

100 2,393 3,764

$9 $8 $1.28

OAKWOOD PLAZA 81ST & 145TH E AVE, S/E C BROKEN ARROW, OK 74012

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN TULSA, OK 74133

108,076 75.2% 1976/2000

1,130 17,000 26,760

$8.50 $8.50 $2.29

QUAIL RUN SHOPPING CENTER 81ST & 145TH E AVE, NW CORNER BROKEN ARROW, OK 74012

SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135

49,734 99.6% 1981

185 185 185

$9 $9 $1.17

REDBUD CORNERS 2419 W KENOSHA BROKEN ARROW, OK 74012

CBRE, INC. / MARK ROONEY / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

21,250 100% 2003

2,984 0

$16

REDBUD II 2409 W KENOSHA ST BROKEN ARROW, OK 74012

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

30,000 100%

0 0 0

$16 $18 $4.50

SHOPS AT LYNN LANE 1700 N 9TH ST BROKEN ARROW, OK 74012

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

24,630 90.3% 2008

2,400 2,400 2,400

$20 $20 $1.50

THE SHOPPES AT STONE RIDGE E ALBANY (61ST) & 161ST E AVE BROKEN ARROW, OK 74012

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

48,300 0% 2010

1,400 10,000 48,300

$14 $24 $3

TIGER PLAZA 2055-2500 E KENOSHA ST BROKEN ARROW, OK 74014

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

48,725 62.0% 2007

1,500 10,000 18,500

$15 $12 $2.50

TOWNE CENTER PHASE I* 101ST & ELM PL BROKEN ARROW, OK 74011

GBR PROPERTIES, INC. / KATHRYN BASNETT-LOPEZ / 918-493-2525 3114 E. 81ST STREET, TULSA, OK 74137

28,450 88.6% 1984

975 1,300 3,250

$8 $12 $3.42

TURTLE CREEK 81ST & 145TH E AVE BROKEN ARROW, OK 74012

SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135

35,720 96.2% 1985

100 1,248 1,348

$8.50 $8 $1.18

VANDEVER ACRES* 732 W NEW ORLEANS ST BROKEN ARROW, OK 74011

GBR PROPERTIES, INC. / KATHRYN BASNETT-LOPEZ / 918-493-2525 3114 E. 81ST STREET, TULSA, OK 74137

79,542 91.4% 1984

770 4,855 6,825

$12 $8.50 $2.63

VANDEVER EAST CENTER* 3355 S ELM BROKEN ARROW, OK 74012

OIL CAPITAL COMMERCIAL / MIKE SCHNAKE / 918-622-6066 5555 E. 71ST STREET, SUITE 8300 TULSA, OK 74136

58,921 76.0% -

5,670 8,467 14,157

$12 $7 $1.60

VANDEVER EAST II SHOPPING CENTER 3321 S ELM PL BROKEN ARROW , OK 74012

CBRE, INC. / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

31,398 42.7% 1978/1992

18,000 18,000 18,000

VILLAGE AT ASPEN CREEK 2016 W HOUSTON BROKEN ARROW , OK 74012

WALMAN COMMERCIAL / BOB REPPE / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

36,794 85.9% 1985

2,090 3,100 5,190

$9 $9.50 $3.19

WASHINGTON SQUARE S 161ST & E 91 BROKEN ARROW, OK 74012

DLRE, INC. / DANNY OVERTON / (918) 895-6700 3015 E. SKELLY DR., STE.410 TULSA, OK 74105

36,250 100.0% 1982

2,000 4,250

$1.54

$0.55

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (GLA) % LEASED YEAR BUILT

SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE

RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE

ONE PLACE RETAIL BUILDING 201 S DENVER AVE TULSA, OK 74103

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-481-5380 5810 E. SKELLY DR, STE. 1900 TULSA , OK 74135

16,733 24.5% 2012

3,742 8,896 12,638

$28 $28 $5.46

CBD CBD

CENTRAL CENTRAL

1700 YALE MALL 1649 S YALE AVE TULSA, OK 74112

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

77,254 87.5% 1972/2014

1,200 3,415 9,624

$25 $20 $3.50

CENTRAL

401 SOUTH UTICA 401 S UTICA TULSA , OK 74104

PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL. , STE. 400 TULSA, OK 74133

24,730 100.0% 1975

8,315 8,315 0

$6 $6 $1.20

CENTRAL

ADMIRAL PLACE CENTER 6921 E ADMIRAL PL TULSA, OK 74112

CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

87,158 0.0% 1960

34,905 34,905 87,158

$4 $4 $0.95

CENTRAL

BROOKE PLAZA 2601-2625 S MEMORIAL TULSA, OK 74145

EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

39,000 71.8% 1964

1,000 4,000 11,000

$7 $7 -

CENTRAL

EASTGATE SHOPPING CENTER 7820 E ADMIRAL PL TULSA, OK 74112

COMPROP REALTY, INC. / LINDA SCHAFER / 918-742-2174 5416 S. YALE TULSA, OK 74135

84,252 93.5% 1954/82

1,000 4,460 5,460

$10 $10 $1.12

CENTRAL

LEISURE SQUARE 2140-D S MEMORIAL TULSA, OK 74129

BUCK MEYERS INV. / BUCK MEYERS / 918-663-2224 2140-D S. MEMORIAL TULSA, OK 74129

72,200 90.3%

7,000 7,000 7,000

$6 $6 $0.25

CENTRAL

LEISURE SQUARE 1515-1717 S. SHERIDAN TULSA, OK 74112

DLRE, INC. / DEAN LEWIS / (918) 895-6700 3015 E. SKELLY DR., STE.410 TULSA, OK 74105

53,505 100.0% 1975

7,000 27,308

$7.16

CENTRAL

MALL 31 5970 E 31ST ST TULSA, OK 74135

KEVIN W. ANDERSON & ASSOC. / KEVIN ANDERSON / 918-747-6776 2510 E 26TH ST, TULSA, OK 74114

44,460 0% 1975/88

1,685 44,460 44,460

$8.25 $7 $1.50

CENTRAL

MAYO MEADOW SHOPPING CENTER PAD SITES 21ST & YALE SWC TULSA , OK 74112

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

80,737 36.7%

51,089 51,089 51,089

$15 $15

CENTRAL

MEMORIAL RETAIL CENTER 3202 S MEMORIAL DR UNIT 8 TULSA, OK 74145

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

20,300 83.9%

1,460 1,800 3,260

$10 $10 $0.90

CENTRAL

SHERIDAN ROYAL CENTER 6380 & 6390 E 31ST TULSA, OK 74135

PROPERTY SPECIALISTS, INC. / CHARLIE NORTHCOTT / 918-665-0803 6305 E. 32ND ST., TULSA, OK 74135

28,125 88.4% 1969

860 2,400 3,260

$8.50 $8.50 $0

CENTRAL

TRI CENTER SHOPPING CENTER 2717-2757 S MEMORIAL TULSA, OK 74129

AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A BROKEN ARROW, OK 74012

101,000 96.0% 1974/86

4,000 4,000 4,000

$9 $9 $0

CENTRAL

VILLAGE SQUARE 21ST & MEMORIAL TULSA, OK 74129

JKJ REALTY CO. / JORDAN K. JAMES, CCIM / 918-495-1550 7910 S 101ST EAST AVE TULSA, OK 74133

27,666 68.6% 1985

1,500 5,000 8,700

$8 $12

EAST

CROSSBOW CENTER - REDEVELOPMENT 41ST & GARNETT, N/W C TULSA, OK 74146

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

82,612 15.3% 1976

70,000 70,000 70,000

$8 $9.50 $0.65

EAST

EASTERN VILLAGE 21ST & 125TH E AVE TULSA, OK 74129

VENTURE PROPERTIES / MIKE MCLANE / 918-747-8700 4835 S. PEORIA, SUITE 20 TULSA, OK 74105

32,502 55.7% 1980

2,000 8,400 14,000

$7.50 $8 $0.65

EAST

GARNETT CROSSING 11101-11215 E 31ST TULSA, OK 74146

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

57,755 55.3% 1975/2006

1,113 12,000 25,791

EAST

GARNETT PLAZA 11333 E 21ST ST TULSA, OK 74129

WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137

29,710 100% 1983

EAST

INTERNATIONAL PLAZA 21ST AND GARNETT NW C TULSA, OK 74129

TULSA COMM. PROP. SERV. / MAUREEN PAYNE & SAM STEEL / 918-742-2417 3314 E. 51ST ST, SUITE 207K, TULSA, OK 74135

69,618 100.0% -

0 0 0

$0 $0 $0.65

EAST

MARINA SHOPPING CENTER 9902 E 21ST ST TULSA, OK 74129

WOLF GROUP PROPERTIES, LLC / HOWARD WOLF / 918-584-1425 320 S. BOSTON AVE., STE. 202, TULSA, OK 74103

39,723 71.0% 1995

0 11,500 11,500

$9.50

$0.50

EAST

NOTE EXPANDED LISTING

RETAIL | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (GLA) % LEASED YEAR BUILT

SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE

RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE

EAST

NORTHEAST PLAZA SHOPPING CENTER 1116-1148 S GARNETT ST TULSA, OK 74128

BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

79,900 90.0% 1973

8,000 8,000 8,000

$8 $8 $0

EAST

SCISSORTAIL SQUARE 12737 E 41ST ST TULSA, OK 74146

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

46,077 36.3% 1983

1,147 8,138 29,341

EAST

TOWNEAST ADMIRAL & 193RD E AVE, S/E C CATOOSA, OK 74133

BUCK MEYERS INV. / BUCK MEYERS / 918-663-2224 2140-D S. MEMORIAL TULSA, OK 74129

57,605 100.0% 1985

0 0 0

$9 $4.50 $0.40

MIDTOWN MIDTOWN

8200 TRADE CENTER 8210-8290 E 41ST ST TULSA, OK 74145

BAUER & ASSOCIATES / BRAD BALDWIN / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

92,950 42.8% 1974

1,440 7,560 53,160

$5 $5

MIDTOWN

BROOKSIDE MARKET 38TH & PEORIA TULSA, OK 74105

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

14,674 91.3%

1,272 1,272 1,272

$14.50 $14.50 $3.28

MIDTOWN

BROOKTOWNE 4329 S PEORIA AVE TULSA, OK 74105

CBRE, INC. / MARK ROONEY / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

25,050 92.9% 2000

1,785 1,785 1,785

$17 $17 $3

MIDTOWN

CROSSROADS SERVICE CENTER 41ST & SHERIDAN TULSA, OK 74135

MONTE DUNHAM R.E. / PERRY DUNHAM / 918-627-4230 6355 E. 41ST ST. TULSA, OK 74145

38,572 100.0%

0 0 0

$8 $6

MIDTOWN

FONTANA SHOPPING CENTER 5100 S MEMORIAL TULSA, OK 74145

OIL CAPITAL COMMERCIAL / MIKE SCHNAKE / 918-622-6066 5555 E. 71ST STREET, SUITE 8300 TULSA, OK 74136

314,610 72.6% 1973

743 23,761 86,203

$12 $6 $2.15

MIDTOWN

HARVARD VILLAGE 2600 S HARVARD TULSA, OK 74114

ADWON REALTY INC. / JOE ADWON / 918-749-7966 P.O. BOX 701116 TULSA, OK 74170

45,444 59.0% 1955

0 0 18,644

$12

MIDTOWN

HIGHLAND PLAZA 5505-5667 E 41ST ST TULSA, OK 74135

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

100,623 68.3% 1963/2007

1,000 4,160 31,900

$10 $10 $1.69

MIDTOWN

LINCOLN PLAZA ON CHERRY STREET 1304 E 15TH ST TULSA, OK 74120

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

40,108 88.6% 1910/93

1,015 1,015 4,585

$8 $10 $5.19

MIDTOWN

MAXIM BUSINESS PARK 4305 S MINGO RD TULSA, OK 74146

BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

107,387 84.6% 1984

1,599 5,162 16,518

$7 $7

MIDTOWN

MEMORIAL PARK SHOPPING CENTER 51ST & MEMORIAL, N/E C TULSA, OK 74145

GBR PROPERTIES, INC. / KATHRYN BASNETT-LOPEZ / 918-493-2525 3114 E. 81ST STREET, TULSA, OK 74137

38,964 58.6% 1971

1,800 5,000 16,140

$10 $7 $2.76

MIDTOWN

OLDE VILLAGE CENTER & SHOPPES 1320 E 41ST ST TULSA, OK 74105

VENTURE PROPERTIES / MIKE MCLANE / 918-747-8700 4835 S. PEORIA, SUITE 20 TULSA, OK 74105

63,275 96.0% 1953

1,152 1,410 2,562

$13 $13 $0.65

MIDTOWN

PARK LANE SHOPPING CENTER 51ST & SHERIDAN, N/W C TULSA, OK 74135

BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

148,951 100.0% 1967

0 0 0

MIDTOWN

SHERIDAN COMMERCIAL CENTER 4307-4319 S SHERIDAN RD TULSA, OK 74145

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

21,990 100.0% 1973

0 0 0

$12 $12

MIDTOWN

SOUTHROADS SHOPPING CENTER 4945 E 41ST ST TULSA, OK 74135

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

305,373 58.8% 1967/97

2,373 59,451 125,753

$14 $16 $2.55

MIDTOWN

SUNBELT PLAZA 4343 S MEMORIAL TULSA, OK 74133

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

62,550 100.0%

0 0 0

$11 $11 $1.50

MIDTOWN

THE FARM SHOPPING CENTER 5201 E 71ST TULSA, OK 74145

CBRE, INC. / MARK ROONEY / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

140,217 100.0% 1972

15,000

$10 $8

MIDTOWN

THE SHOPS AT GREENWAY VILLAGE 4002-4016 S YALE TULSA, OK 74135

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

31,900 90.3% 1975

1,000 2,100 3,100

$12 $12 $2.50

MIDTOWN

TULSA BALLET CENTER 4512-4522-4526 S PEORIA TULSA, OK 74105

CBRE, INC. / PAUL WILLIAMS / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

40,010 100.0% 1989

0 0 0

$12.50 $12.50 $0

MIDTOWN

TULSA PROMENADE MALL 4101 S YALE AVE TULSA, OK 74135

984,484 78.4% 1965/86

14,986 179,700 213,058

$0 $0 $0

MIDTOWN

UTICA SQUARE SE CORNER OF 21ST ST. & UTICA AVENUE TULSA , OK

397,545 100.0% 1952/1986

0 0 0

$30 $25 $3.81

HELMERICH & PAYNE PROPERTIES / JESSICA BARR / 918-742-5531 1437 S. BOULDER AVE, STE 1400, TULSA, OK 74119

$2.86

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (GLA) % LEASED YEAR BUILT

SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE

RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE

NORTH NORTH

NORTH POINTE BUSINESS CENTER 205 E. PINE TULSA, OK 74106

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

36,794 68.2% 1995

1,000 5,263 11,705

$13 $13 $5.85

NORTH

SPRINGDALE SHOPPING CENTER PINE & LEWIS TULSA, OK 74110

SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135

93,792 94.5% 1972

5,135 5,135 5,135

$10.25 $7 $1

NORTHEAST NE

CATOOSA SHOPPING CENTER 2400 N HIGHWAY 66 CATOOSA, OK 74015

MID AMERICA REALTY, INC / GEORGE Oâ&#x20AC;&#x2122;CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

70,223 98.0% 2006

1,400 1,400 1,400

$17 $17 $2.81

ROLLING HILLS SHOPPING CENTER 19220 E ADMIRAL CATOOSA, OK 74015

FITE & REYNOLDS REAL ESTATE / HAYNES REYNOLDS 1805 N YORK ST., STE B MUSKOGEE, OK 74403

40,000 65.7%

465 12,500 13,715

$8 $12 $1.16

NORTHWEST NW

GILCREASE HILLS 2301-2323 W EDISON TULSA, OK 74127

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

46,129 65.1% 1980

600 9,344 17,771

$2.83

THE SHOPPES AT ADAMS ROAD 2ND & ADAMS ROAD SAND SPINGS, OK 74063

BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

102,413 74.2% 1957/1986

1,222 8,922 26,438

$12 $12 $1.26

OWASSO OWASSO

GARRETT CREEK 11560 N 135TH E AVE OWASSO, OK 74055

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

104,216 85.6% 2007

1,250 15,000 15,000

$10 $16

OWASSO

KNIGHTSBRIDGE 410-435 E. 2ND AVE OWASSO, OK 74055

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

20,424 93.6% 1986

1,308 1,308 1,308

$12 $10

OWASSO

MINGO VALLEY CENTER 8787 OWASSO EXPRESSWAY OWASSO, OK 74055

TWENTY-FIRST PROPERTIES, INC. / 918-743-4300 2121 S. COLUMBIA, SUITE 650 TULSA, OK 74114

107,187 96.9% 1988/2004

1,620 1,740 3,360

$9.25 $7 $1.65

OWASSO

MINGO VALLEY SHOPPING CENTER 8751 N 117TH E AVE OWASSO, OK 74055

TWENTY-FIRST PROPERTIES, INC. / 918-743-4300 2121 S. COLUMBIA, SUITE 650 TULSA, OK 74114

31,025 56.6% 1999

1,620 4,000 13,480

$9.75 $8 $2.25

OWASSO

OWASSO TOWN CENTER 12912 E 86 ST N OWASSO, OK 74055

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

30,000 96.6% 1980

1,021 1,021 1,021

$17 $17 $1.50

OWASSO

OWASSO TOWN CENTER 8500 N. 129TH ST. OWASSO, OK 74055

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

22,894 73.3% 1999

2,112 4,000 6,112

$12 $12 $3.23

OWASSO

SMITH FARM MARKETPLACE, PHASE I & II 9002 N 121ST AVE OWASSO , OK 74055

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

345,789 93.3% 1996

1,200 10,820 23,020

$22 $4.95

OWASSO

THE MARKET SHOPPING CENTER 12932 E 86TH ST N OWASSO, OK 74055

P&H PROPERTIES LLC / BRANDON MOLL / 918-523-4000 4785 E. 91ST, SUITE 200 TULSA, OK 74137

30,000 0.0% 2005

30,000 30,000 30,000

$10 $10 $3

OWASSO

TYANN PLAZA SHOPPING CENTER 96TH ST N & HIGHWAY 169 SEC OWASSO, OK 74055

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

67,954 82.3% 2005

3,000 12,000 12,000

$18 $12 $1.95

SOUTH SOUTH

10303 E 71ST ST 10303 E 71ST ST TULSA , OK 74133

CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

116,146 100.0% 1992

58,500

$9.50

SOUTH

126 CENTER 12600-12604 S MEMORIAL DR BIXBY, OK 74008

JKJ REALTY CO. / JORDAN K. JAMES, CCIM / 918-495-1550 7910 S 101ST EAST AVE TULSA, OK 74133

21,783 75.7% 1985

1,000 2,200 5,300

$8 $12

SOUTH

4101-4169 S YALE AVE 4101-4169 S YALE AVE TULSA, OK 74135

CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

984,484 100.0% 1986

33,358

NOTE EXPANDED LISTING

RETAIL | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (GLA) % LEASED YEAR BUILT

SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE

RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE

SOUTH

5130 S HARVARD AVE 5130 S HARVARD AVE TULSA, OK 74135

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

51,150 100.0% 1985

0 0 0

$11 $11 $2.05

SOUTH

5400 MINGO CENTER 5400 S MINGO TULSA, OK 74146

PROPERTY SPECIALISTS, INC. / CHARLIE NORTHCOTT / 918-665-0803 6305 E. 32ND ST., TULSA, OK 74135

49,000 100.0% 1979

0 0 0

$8.25 $10 $0

SOUTH

7181 MINGO CENTER 7181 S MINGO TULSA, OK 74133

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

37,000 100.0% 1998

0 0 0

$12 $8 $1

SOUTH

8922 S. MEMORIAL 8922 S. MEMORIAL DRIVE TULSA, OK 74133

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

51,000 96.5% 1972

1,800 1,800 1,800

$16 $16 $4.13

SOUTH

CENTRE 71 71ST & MEMORIAL SE/C TULSA , OK 74133

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

50,160 70.3% 1993

600 3,960 14,880

$12.75 $22 $4.15

SOUTH

CHIMNEY POINTE 91ST & SHERIDAN TULSA, OK 74133

SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135

43,930 94.4% 1984

2,448 2,448 2,448

$9.50 $8 $1.28

SOUTH

COMMERCE PLAZA 55TH & MINGO TULSA, OK 74146

MUDD FAMILY PROPERTIES / VERNON MUDD / 918-749-6411 P.O. BOX 701137 TULSA, OK 74170

20,000 100.0% 1983

0 0 0

$6 $6 $0

SOUTH

COPPER MOUNTAIN 6002-6028 S MEMORIAL TULSA, OK 74145

PARAMOUNT COMMERCIAL PROP. / ALAN HARJU / 918-743-8000 6202 S. LEWIS, SUITE E, TULSA, OK 74136

25,443 89.8% 1980/2007

964 1,635 2,599

$11

SOUTH

COUNTRY CLUB PLAZA 51ST & S HARVARD TULSA, OK 74135

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

203,057 64.9% 1965/84

1,792 48,000 71,213

$20 $10 $1.25

SOUTH

CRESTWOOD CROSSING 121ST & S SHERIDAN RD TULSA, OK 74136

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

26,800 94.4% 2011

1,500 1,500 1,500

$20 $22 $3.80

SOUTH

CROSSING OAKS 7110-7178 S MEMORIAL DRIVE TULSA, OK 74133

MD MANAGEMENT / GARY HAYES / 913-831-2996 EXT 270 5201 JOHNSON DRIVE, STE 450 MISSION, KS 66205

211,811 90.2% 1979

1,600 3,770 20,751

$14 $13 $2

SOUTH

EAST POINTE CENTER 71ST & MINGO, S/E C TULSA, OK 74133

GBR PROPERTIES, INC. / KATHRYN BASNETT-LOPEZ / 918-493-2525 3114 E. 81ST STREET, TULSA, OK 74137

47,872 93.3% 1985

1,553 3,209 3,209

$3.31

SOUTH

ECHELON CENTER 8112 S MEMORIAL DR TULSA, OK 74133

BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

55,469 79.2% 1984

1,046 2,830 11,599

$12 $12 $2.34

SOUTH

ETON SQUARE 8221-8421 E 61ST ST TULSA, OK 74133

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

181,871 74.9% 1984

1,293 44,167 45,603

$12 $8 $2.37

SOUTH

FESTIVAL SQUARE 6501-6555 S SHERIDAN RD TULSA, OK 74133

CBRE, INC. / MARK ROONEY / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

58,566 85.1% 1976

8,700 8,700 8,700

$10 $6 $1.75

SOUTH

FOREST TRAILS SOUTH 10032 S SHERIDAN TULSA, OK 74133

SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135

32,611 94.5% 1983

1,793 1,793 1,793

$12 $10 $1

SOUTH

GARNETT PLAZA 71ST & GARNETT, SW/C TULSA, OK 74133

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

100,786 85.1% 1996

15,000 15,000 15,000

$8.50 $16 $4.29

SOUTH

GATEWAY OFFICE PLAZA US HWY 75 @ W 96TH ST JENKS, OK 74037

PAINE & ASSOCIATES / MATT MARDIS / 918-481-5380 5810 E. SKELLY DR, STE. 1900 TULSA, OK 74135

85,000 64.1% 2015

2,800 30,000 32,800

SOUTH

HEATHERRIDGE 6518-6556 E 91ST ST TULSA, OK 74133

WALMAN COMMERCIAL / BOB REPPE / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

34,193 100.0% 1981

0 0 0

$2.43

SOUTH

KENSINGTON ANNEX 71ST & LEWIS TULSA, OK 74136

RUFFIN PROPERTIES / CARL VINCENT / 918-493-7100 7130 S. LEWIS, SUITE 250 TULSA, OK 74136

51,068 94.6% 1979

900 1,843 2,743

$10 $9 $1.50

SOUTH

KINGS LANDING 99TH & S RIVERSIDE PKWY TULSA, OK 74137

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

43,746 91.6% 2005

1,487 2,200 3,687

$18 $18 $4.25

SOUTH

KINGS POINTE VILLAGE 5952 S YALE TULSA, OK 74135

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

158,716 97.2% 2003

1,639 2,828 4,467

$20 $20 $2.79

SOUTH

LEWIS CROSSING 6921-6981 S LEWIS AVE TULSA, OK 74136

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

49,324 55.9% 1977/98

1,489 6,039 21,752

$14 $16 $2.57

SOUTH

LIGHTHOUSE SHOPPING CENTER 7143 S YALE TULSA, OK 74136

WALMAN COMMERCIAL / BOB REPPE / 918-237-6903 7060 S. YALE, SUITE 900 TULSA, OK 74136

38,045 92.1% 1988/2008

3,000 3,232 3,000

$12 $16 $2.88

$2.62

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (GLA) % LEASED YEAR BUILT

SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE

RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE

SOUTH

LONDON SOUTH 5940 S LEWIS TULSA, OK 74105

VENTURE PROPERTIES / MIKE MCLANE / 918-747-8700 4835 S. PEORIA, SUITE 20 TULSA, OK 74105

35,400 92.7% 1972

2,600 2,600 2,600

$12 $13 $0.65

SOUTH

MANCHESTER SQUARE 8338 E 61ST ST TULSA, OK 74133

DIXON R.E. CO., INC. / SONDRA HIGHFILL / 918-748-0308 4870 S. LEWIS, SUITE 100 TULSA, OK 74105

141,601 64.8% 1995

2,099 3,550 49,900

$10.50 $16 $2.66

SOUTH

MEADOWBROOK CHASE NE/C 81ST & MINGO TULSA, OK 74133

CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

22,000 58.2%

1,200 3,600 9,200

$24 $22 $5

SOUTH

MEMORIAL CROSSING SW/C 101ST & MEMORIAL TULSA, OK 74133

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

20,000 74.1% 1996

1,625 3,350 5,175

$15 $15 $5.07

SOUTH

MEMORIAL SQUARE NW/C 91ST & MEMORIAL TULSA, OK 74133

MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

14,600 68.8%

1,400 1,400 4,550

$15 $15 $4

SOUTH

MINGO CENTER 5151 S MINGO RD TULSA, OK 74146

TWENTY-FIRST PROPERTIES, INC. / 918-743-4300 2121 S. COLUMBIA, SUITE 650 TULSA, OK 74114

17,200 100.0% 2007

3,000 3,000 0

$8.50

SOUTH

MINGO MARKETPLACE 10127 E 71ST ST TULSA, OK 74133

CENTRO PROPERTIES GROUP / MARCIA MINTON / 972-668-2986 3333 PRESTON ROAD, SUITE 1400, FRISCO, TX 75034

71,956 18.8% 1992

16,500 41,092 58,402

SOUTH

PARK PLAZA SHOPPING CENTER 6010 S SHERIDAN RD TULSA, OK 74135

WALMAN COMMERCIAL / BOB REPPE / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

126,549 81.6% 1971

1,365 6,040 23,284

$9 $10 $1.85

SOUTH

PLAZA DEL SOL

$2.34

• Tulsa’s Premier “Entertainment/Experience” Neighborhood Center • Superior and convenient access 1 mile east of Memorial Drive • Casual offerings in an upscale setting • Beautiful mission-style architecture • Featuring a gorgeous water fountain in the expansive Plaza

9999 S Mingo Rd Tulsa, OK 74133

Contact: Jason M. Kennon Case & Associates Properties, Inc. 918-492-1983 SOUTH

PLAZA DEL SOL 9999 S MINGO RD TULSA, OK 74133

CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E SKELLY DR., SUITE 800, TULSA, OK 74135

46,500 82.7% 2008

1,515 3,975 8,052

$20 $20 $3.80

SOUTH

RENAISSANCE ON MEMORIAL 8281 S MEMORIAL DR TULSA, OK 74133

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

26,120 93.3% 2003

1,750 1,750 1,750

$20 $23 $3.50

SOUTH

RIVER PARK SQUARE 6821 S PEORIA AVE TULSA, OK 74136

DLRE, INC. / DANNY OVERTON / (918) 895-6700 3015 E. SKELLY DR., STE.410 TULSA, OK 74105

46,138 81.4% 1984

1,875 4,625 8,600

$6 $6 $1.38

SOUTH

SHOPS OF SEVILLE 101ST & S YALE, N/E C TULSA, OK 74137

WINBURY GROUP / RAY BIERY / 918-299-7100 10051 S. YALE, SUITE 200 TULSA, OK 74137

45,000 100.0% 1997

1,030 0 0

$16 $12.50 $2.50

SOUTH

SOUTH MEMORIAL PLAZA 10846-10848 S. MEMORIAL DR. TULSA, OK 74133

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

48,288 73.0% 2006

1,063 4,430 13,034

$12 $14 $2.88

SOUTH

SOUTH TOWN MARKET DR 10000 S. MEMORIAL TULSA, OK 74133

CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

236,000 100.0% 2009

28,900

$40

SOUTH

SOUTHBEND 8701 S LEWIS TULSA, OK 74136

PAUL PROPERTIES / BILL PAUL / 918-293-2215 6216 S. LEWIS TULSA, OK 74136

45,425 94.7% 1974

2,400 2,400 2,400

$7 $7 $0

SOUTH

SOUTHERN TRAILS SE C 71ST & S 85TH E AVE TULSA, OK 74136

MCDOWELL & ASSOCIATES / JIM MCDOWELL / 918-298-0800 6843 S. PEORIA AVE. TULSA, OK 74105

34,450 100.0% 1980

1,800 1,800 0

$25 $25 $2.18

SOUTH

SQUARE 91 8921-8929 S MEMORIAL TULSA, OK 74133

CBRE, INC. / RICH MONAGHAN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

196,842 96.2% 1991

7,431 7,431 7,431

$6 $12 $1.86

SOUTH

SQUARE ONE SHOPPING CENTER 81ST & SHERIDAN, N/E C TULSA, OK 74133

GBR PROPERTIES, INC. / KATHRYN BASNETT-LOPEZ / 918-493-2525 3114 E. 81ST STREET, TULSA, OK 74137

47,020 92.0% 1983

1,450 5,436 3,770

$10 $11 $3.31

SOUTH

SQUARE ONE-EXTENDED RETAIL CENTER 6703-6709 E 81ST ST TULSA, OK 74133

BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

28,908 100.0% 1985

1,769 1,914

$10 $10

NOTE EXPANDED LISTING

RETAIL | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (GLA) % LEASED YEAR BUILT

SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE

RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE

SOUTH

SUMMIT SQUARE 71ST & SHERIDAN, S/W C TULSA, OK 74136

GBR PROPERTIES, INC. / KATHRYN BASNETT-LOPEZ / 918-493-2525 3114 E. 81ST STREET, TULSA, OK 74137

166,800 94.9% 1987

1,500 4,249 8,497

$12 $9 $2.05

SOUTH

THE MILL SHOPPING CENTER 6973 E 71ST ST TULSA, OK 74133

P&H PROPERTIES LLC / BRANDON MOLL / 918-523-4000 4785 E. 91ST, SUITE 200 TULSA, OK 74137

30,870 89.3% 1980

1,516 1,794 3,310

$10 $12 $2.20

SOUTH

THE PLAZA SHOPPING CENTER 8102-8272 S LEWIS AVE TULSA, OK 74137

ALTUS COMMERCIAL REAL ESTATE / HOWARD BALL / 404-995-1780 1401 MACY DR., ROSWELL, GA 30076

152,046 70.7% 1986

1,054 7,193 44,624

$8 $10

SOUTH

THE SHOPS & OFFICES AT BRIDGEPOINTE 1660 E 71ST ST TULSA, OK 74136

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

55,000 67.6% 1992

1,225 3,000 17,813

$10 $10 $1.85

SOUTH

THE VILLAGE AT WOODLAND HILLS 6612-6808 S MEMORIAL TULSA, OK 74133

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

224,487 72.8% 1987

1,144 25,016 61,158

$12

SOUTH

THE VINEYARD ON MEMORIAL 10832 S MEMORIAL DR TULSA, OK 74133

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

189,000 82.8% 2014

1,429 8,930 32,495

$20 $25 $4

SOUTH

TOWN & COUNTRY CENTER 121ST & S MEMORIAL BIXBY, OK 74008

SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135

91,610 92.3% 1974

7,050 7,050 7,050

$8 $7 $0.85

SOUTH

TULSA RETAIL CENTER 9121-9219 E 71ST ST TULSA, OK 74133

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

92,848 88.7%

0 0 10,467

SOUTH

TUSCANA ON YALE 8931 S YALE AVE TULSA, OK 74136

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

25,369 88.1% 2013

1,514 1,514 3,028

$22 $22 $4.25

SOUTH

UNION PLAZA 71ST AND MINGO, N/E C TULSA, OK 74136

CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

334,566 77.6% 1994

35,000 75,000 75,000

$12 $6.50 $1.56

SOUTH

UNION SQUARE 6105 MINGO RD TULSA, OK 74133

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

30,080 82.9% 1985

1,235 2,416 5,512

$10 $11 $2.58

SOUTH

UTICA 71 CENTER 7018 S. UTICA TULSA, OK 74136

WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

25,309 82.2% 1995

1,500 3,000 4,500

$8 $12

SOUTH

VILLAGE SOUTH 10100 S SHERIDAN RD TULSA, OK 74133

MID AMERICA REALTY, INC / GEORGE Oâ&#x20AC;&#x2122;CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133

104,000 91.0% 1983

1,680 3,239 9,411

$13.50 $13.50 $2.54

SOUTH

WALNUT CREEK SHOPPING CENTER 8101 S HARVARD (SE/C) TULSA, OK 74136

MCGRAW COMMERCIAL PROPERTIES / CARA LEIGH INGRAM / 918-388-9588 4105 S. ROCKFORD AVE, TULSA , OK 74105

105,768 73.9% 1990

1,231 10,600 27,653

$9 $12

SOUTH

WATERFORD PLAZA 9108 S. SHERIDAN TULSA, OK 74133

PAINE & ASSOCIATES / SCOTTY HARPER / 918-481-5380 5810 E. SKELLY DR, STE. 1900 TULSA , OK 74135

28,883 88.8% 2007

3,248

$15 $15

SOUTH

WEMBLEY CENTER 7106-7116 S MINGO TULSA OK 74133

SOUTH STAR PM / CAMERON SMITH / 503-251-4888

51,343 77.6%

1,200 4,296 11,478

$12.50 $9.50 $2.20

SOUTH

WOODLAND PLAZA 8620-8802 E 71ST ST TULSA, OK 74133

CBRE, INC. / DAN SHOEVLIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

42,525 91.8% 1994

3,500 3,500 3,500

$11 $22

SOUTH

YALE VILLAGE SW CORNER 91ST & YALE TULSA, OK 74137

LINCOLN PROPERTY COMPANY RETAIL / CHRIS THOMAS / 214-740-3457 2000 MCKINNEY AVE, STE 1000, DALLAS, TX 75201

100,000 90.0% 2013

1,400 5,500 10,000

$28 $24 $3

3,248

SOUTHWEST SW

MAIN PLACE 6TH & S MAIN SAPULPA , OK 74066

SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135

42,000 76.1% 1976

2,520 7,500 10,020

$8 $8 $0.78

RIVERWALK CROSSING 300 RIVERWALK TERRACE JENKS, OK 74037

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-481-5380 5810 E. SKELLY DR, STE. 1900, TULSA, OK 74135

27,805 48.5% 2004

1,921 5,843 14,329

$17 $22 $4.70

SOUTHWEST CROSSROADS SWC 121ST & HWY 75 GLENPOOL, OK 74033

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

32,431 40.2% 2009

1,250 16,000 19,400

$22 $22

SPARTAN FAMILY CENTER* 151ST & MEMORIAL RD, N/W C BIXBY, OK 74008

SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A, TULSA, OK 74135

62,410 100.0% 1985

$9.50 $9.50 $1.00

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (GLA) % LEASED YEAR BUILT

SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE

RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE

TULSA HILLS SHOPPING CENTER 7336 S OLYMPIA AVE TULSA, OK 74132

CBRE, INC. / CAITLIN SHORES / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

1,200,000 98.9% 2007

1,200 8,962 13,162

$30 $30

VILLAGE ON MAIN 117 S 7TH ST JENKS, OK 74037

VILLAGE ON MAIN LLC / VILLAGE ON MAIN LLC 1177 W. 106TH ST. S. JENKS, OK 74037

44,193 37.0% 2012

952 20,000 27,844

$9 $12

110,000 100.0% 1954

17,850 50,533

WEST WEST

CRYSTAL CITY SHOPPING CENTER 4207-4289 SOUTHWEST BLVD TULSA, OK 74131

WEST

FORMER K-MART 1200 E. CHARLES PAGE BLVD SAND SPRINGS, OK 74063

CBRE, INC. / STUART GRAHAM / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

84,210 0.0% 1974

84,210

WEST

PAGE PLAZA 1124 E. CHARLES PAGE BLVD SAND SPRINGS, OK 74063

WALMAN COMMERCIAL / JUSTIN BROWN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136

34,900 0.0% 1974

1,800 26,500 34,900

$5 $10 $1.57

WEST

SPRINGS VILLAGE 3909-3989 S HIGHWAY 97 SAND SPRINGS, OK 74063

RETAIL BUILDINGS INC / 405-478-1656 7030 S. YALE AVE. TULSA, OK 74136

168,000 87.9% 1986

1,204 8,775 20,266

$10 $10

WEST

TOWN WEST 5600 W SKELLY DR TULSA, OK 74107

BAUER & ASSOCIATES / JEFF POWERS / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

160,591 69.9% 1978

1,783 29,294 48,363

$4 $4 $0.50

$0.69

Industrial . Warehouse . Office . Land . Multi-Family . Retail . Medical /mcgrawcp /mcgraw-commercial-proper ties @mcgraw_cp

McGraw Commercial Properties 4105 S. Rockford Ave. Tulsa, OK 74105 918.388.9588 www.mcgrawcp.com

NOTE EXPANDED LISTING

. INDUSTRIAL OVERVIEW

RISING TIDE New leases of all sizes push vacancy to record lows. If you measure the market by the unemployment rate, Tulsa hit bottom in this past cycle late last summer with a 5.4 percent unemployment rate. The industrial market has rebounded in the past 12 months with resurgence in energy and growth in the aerospace industry. Oil and gas industrial users and contractors have been the first to see personnel and real estate footprint expansions as the number of active well sites in Oklahoma increased 127 percent over the past 12 months from 59 to 134. The increased activity will be a rising tide for the state and Tulsa industrial market. NET ABSORPTION Net absorption for the last 12 months more than doubled to 1,443,000 square feet compared to 643,000 square feet in the previous year. The local market remained active with about 140 transactions closed during the first half of 2017. Two-thirds of all transactions were under 10,000 square feet and the average transaction size was 15,000 square feet. The market saw a mix of user sales, expansions and renewals, but new leases accounted for most of activity. Absorption rates were driven by several large deals. The Federal Express build-to-suit on East 81st Street in Broken Arrow accounted for 250,000 square feet. Gas Tech leased the former 151,320 square-foot TEI manufacturing facility in Sapulpa, and a new steel company to Tulsa leased the former 100,100 square-foot Harsco facility at the Port of Catoosa.

BY BOB PIELSTICKER, SIOR 51

INDUSTRIAL OVERVIEW

VACANCY

3 percent to $5.42 per square foot NNN from

The vacancy rate has decreased to 4.1 percent,

$5.59 per square foot NNN last summer. This is

the lowest level since 1999. This lower rate is due

primarily due to the remaining inventory being

to increased demand, renovation of several large

Class B and C space. One bright area in Tulsa

multi-tenant buildings to competitive standards

is the northeast submarket. Aerospace and ad-

and limited speculative new construction late last

vance manufacturing companies have pushed

year. When we factor in sublease and shadow

this average market rate to $6.05 per square

space, the market availability rate is 6.6 percent.

foot NNN. The northeast and southeast submar-

This rate has decreased 1.1 percent in the past

kets located along major highways are well po-

six months. Most of the space vacated in the past

sitioned to take advantage of increases in rates

two years by oil and gas related companies has

during the next year.

been released. Although not as large in overall size as many first- and second-tier markets, Tulsa

NEW CONSTRUCTION

has a similar record low vacancy rate.

Approximately 500,000 square feet of new construction was delivered in the past 12 months.

In September, we were tracking 26 active us-

Half of this was the new Jarboe Distribution fa-

ers in the market with 2.5 MSF of requirements.

cility in the northeast market. Currently, 625,000

This would indicate a one and one-half year

square feet is under construction including two

supply of space. The low vacancy rate and con-

speculative buildings in the CenterGate Busi-

tinued demand has facilitated an increase in

ness Center and one speculative warehouse in

new construction and build-to-suit activity.

Commerce Crossing. These new bulk warehouse projects are quoting $6.25-$6.50 per square

ASKING RATES

foot NNN. Construction in speculative Class A

Although the vacancy rates are at historic lows,

bulk warehouse and manufacturing build-to-suit

the average rental asking rates have decreased

Submarket

Net Rentable Area

Total Vacancy (%)

Total Availability (%)

Net Avg. Asking Lease Rates ($/SF/YR)

Under Construction (SF)

Deliveries (SF)

H1 2016 Net Absorption

H1 2017 Net Absorption

Northeast

21,834,700

4.0

5.4

6.01

123,864

24,000

(59,603)

149,985

Northwest

14,089,580

1.1

3.3

4.14

–

(22,671)

42,740

South Central

18,404,802

6.6

10.3

4.49

–

260,766

237,398

376,522

Southeast

15,162,454

4.8

9.1

5.31

415,000

–

206,459

258,625

Southwest

10,116,981

3.0

3.6

5.50

60,332

–

56,827

226,128

Tulsa Total

79,608,517

4.1

6.6

5.42

599,196

284,766

389,203

1,054,000

HISTORICAL VACANCY RATE & NET ABSORPTION

should increase to meet current demand in the marketplace.

Net Absorption

(000’s) SF

INVESTMENT SALES Investment sale activity has remained strong in 2017 with $165 million compared to $116 million

Vacancy Rate

1,400

6.5

1,200

6.0

1,000

5.5

800

in 2016. Two notable sales occurred in the multi-

600

tenant investment market. The largest sale was

400

the Airpark Distribution Center bulk warehouse

200

portfolio located in the airport area. This three

5.0 4.5 4.0 3.5 H1 2014

building 300,000 square-foot property sold for

H2 2014

H1 2015

H2 2015

H1 2016

H2 2016

H1 2017

$20.73 million or $69.10 per square foot in early 2017. In addition, the 200,000 square-foot CrossHISTORICAL UNDER CONSTRUCTION

town Business Center comprising multi-tenant warehouse and flex space sold for $5.375 million in late 2016.

(000’s) SF 700 600

SUMMARY

500

As the Tulsa market experienced improved oil

400

and natural gas prices and growth in the aero-

300

space industry, the vacancy rate has decreased

200

to a record low. Tulsa has been recognized as

100

one of the leading advanced manufacturing

0 H2 2014

cities in the U.S., which brings signs of further

H1 2015

H2 2015

H1 2016

H2 2016

H1 2017

growth opportunities. Absorption, new conHISTORICAL INVESTMENT SALES VOLUME

struction and investment activity should remain steady through 2017 and into next year. •

($) millions 200 180 160 140 120 100 80 60 40 20 0 H1 2014

H2 2014

H1 2015

The city of Tulsa has one of the nation’s largest concentrations of Art Deco architecture in the nation.

H2 2015

H1 2016

H2 2016

H1 2017

INDUSTRIAL | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

CBRE, INC. / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

41,250 90.2% $7.25

1,868 4,032 YES

14’ DRIVE IN DOORS 16’ NO

45,000 66.3% $4.75

15,180 15,180 YES

DOCK 22’ NO

BROKEN ARROW BA

2101 N. BEECH 2101 N BEECH BROKEN ARROW, OK 74012

2600 WEST ALBANY 2600 W ALBANY BROKEN ARROW, OK 74012

CENTERGATE BUSINESS PARK 13445 E. 59TH ST. TULSA, OK 74134

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

380,000 0% $2.95

380,000 380,000

DOCK HIGH/DRIVE IN 22’ NO

COMMERCE CROSSING 2308-2316 N SWEET GUM AVE BROKEN ARROW, OK 74012

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

45,000 100% $5.75

0 0 YES

DOCK HIGH & DRIVE IN 24’ NO

COMMERCE CROSSING 3825 W ALBANY BROKEN ARROW, OK 74012

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

45,000 100% $5.50

0 0 YES

DOCK HIGH/DRIVE IN 24’ NO

COMMERCE CROSSING 3925 W ALBANY BROKEN ARROW, OK 74012

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

43,119 0% $6.95

43,119 43,119 YES

DOCK HIGH/DRIVE IN 24’ NO

GREENWAY RENO BUILDING 1914 W RENO ST BROKEN ARROW, OK 74012

WATERMARK COMMERCIAL PROPERTIES MATT KLIMISCH / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137

24,470 100% $6.50

5,400

DRIVE IN 12’

GREENWAY TACOMA BUILDING 1913 TACOMA ST BROKEN ARROW, OK 74012

WATERMARK COMMERCIAL PROPERTIES DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137

46,150 89.6% $8.00

1,800 4,800

DOCK/DRIVE IN 9-12’

HENSHAW BUSINESS PARK 2502-2628 N HEMLOCK CIR STE A1 BLDG BROKEN ARROW, OK 74012

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

99,775 100% $4.60

0 0 NO

DOCK HIGH/DRIVE IN 21’ NO

METRO PARK EAST I 13700 E 61ST ST TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

60,000 80.9% $5.50

11,445 11,445 YES

GRADE A DOCK 24’ NO

METRO PARK EAST II 13655 E 61ST ST TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

60,000 100% $5.50

0 0 YES

GRADE A DOCK 24’ NO

METRO PARK IV 12122 E 55TH TULSA, OK 74146

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

112,500 100% $4.75

0 0 ESFR

DOCK HIGH & DRIVE IN DOORS 30’ NO

CENTRAL CENTRAL

AUTOTOPS BUILDING 8548 E 41ST TULSA, OK 74145

EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E 41ST STREET, SUITE 101, TULSA, OK 74135

36,000 100% $4.75

0 0

CENTRAL

BOULDER TOWERS 1437 S BOULDER TULSA, OK 74145

CUSHMAN & WAKEFIELD / COMMERCIAL OKLAHOMA INC. JARED ANDRESEN / 918-359-3520 4111 S DARLINGTON, SUITE 1190, TULSA, OK 74135

521,802 97.5% $13.00

12,847 12,847

CENTRAL

EXPRESSWAY CENTER 3621-3751 S 73RD E AVE TULSA, OK 74145

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

248,163 88.1% $4.50

15,186 29,547 YES

CENTRAL

FORMER RESOURCE ONE PRINTING 6201 E 43RD ST TULSA, OK 74135

CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

108,230 0% $3.65

108,230

SHERIDAN TRADE CENTER 6555-6577 E 21ST PL TULSA, OK 74129

WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137

33,750 91.1% $6.00

3,000 3,000

DRIVE IN & DOCK HIGH DOOR 15’ NO

EAST

12535 E. 52ND STREET WAREHOUSE 12535 E 52ND ST TULSA, OK 74146

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

82,290 100% $0

0 0 YES

9 24’ NO

EAST

51ST STREET TULSA BUSINESS PARK 11626 E 51ST ST TULSA, OK 74146

CBRE, INC. / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

40,000 78.1% $7.00

3,750 8,750 YES

14’ DRIVE IN DOORS 16’ NO

CENTRAL

GRADE LEVEL & DOCK HIGH 18’ NO

EAST

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

EAST

5555 S 129TH E AVE 5555 S 129TH E AVE TULSA, OK 74134

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

113,120 0% $5.50

113,120 113,120

DOCK HIGH/DRIVE IN 30’

EAST

5555 S 129TH E AVE 5555 S 129TH E AVE TULSA, OK 74134

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

37,800 17.7% $7.50

31,096 31,096

DOCK HIGH/DRIVE IN 24’

EAST

56TH STREET WAREHOUSES 11105-11119 E 56TH ST TULSA, OK 74146

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

28,800 79.2% $5.00

1,500 6,000 YES

DRIVE IN 14’ NO

EAST

5800 CENTER 5727/5807 S GARNETT RD TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

52,000 76.6% $7.50

7,025 12,194 NO

GRADE DOCK 13’ NO

EAST

5800 GARNETT 5727 & 5807 S GARNETT RD TULSA, OK 74146

AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W ALBANY, SUITE A, BROKEN ARROW, OK 74012

61,352 83.7% $8.00

10,000 10,000 NO

GRADE LEVEL & DOCK HIGH 18’ NO

EAST

5935 S 129TH E AVE 5935 S 129TH E AVE TULSA, OK 74134

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

61,000 62.4% $5.95

22,916 22,916

DOCK HIGH/DRIVE IN 30’

EAST

AIRPARK DISTRIBUTION CENTER III 11605 E 27TH ST N TULSA, OK 74116

COATES COMMERCIAL PROPERTIES, LLC / PATRICK COATES, CCIM / 918-292-8510 4111 S. DARLINGTON, STE 640, TULSA, OK 74135

100,000 80% $5.00

20,000 20,000 YES

DOCK HIGH & DRIVE IN RAMP ACCESS 30’

EAST

BETA BUSINESS PARK 5666 S 122ND E AVE TULSA, OK 74146

BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

134,000 88.8% $5.25

7,500 15,000 YES

12’X14’ OHD 20’ & 24’ NO

EAST

BETA BUSINESS PARK 12518 E 60TH ST TULSA, OK 74146

BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

37,000 100%

37,000 0 YES

12’X14’ OHD 24’ NO

EAST

• • • • •

BUSINESS COMMONS TECH CENTER 12206 East 51st Street

Located in Metro Park, one of Tulsa’s nicest industrial parks E. 51st Street footage near the Broken Arrow Expressway Attractive Design Convenient drive-in loading Flex/R&D space located in the heart of the medical services corridor

Contact: Bob Meyer or Jason M. Kennon Case & Associates Properties, Inc. 918-492-1983 EAST

BUSINESS COMMONS TECH CENTER 12206 E 51ST ST TULSA, OK 74146

CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135

37,041 89% $7.00

2,370 4,056 NO

GRADE LEVEL OVERHEAD 12’ - 13’ NO

EAST

CENTERGATE BUSINESS PARK 13033 E 59TH ST TULSA, OK 74134

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

113,120 80% $6.50

22,624 22,624 YES

DOCK HIGH & DRIVE IN 30’ NO

EAST

CENTERGATE BUSINESS PARK 13404 E 59TH ST TULSA, OK 74134

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

60,000 0% $6.50

60,000 60,000 YES

DOCK HIGH & DRIVE IN 30’ NO

EAST

CENTERGATE BUSINESS PARK 13120 E 59TH ST TULSA, OK 74134

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

10,500 0% $6.50

10,500 10,500 YES

DOCK HIGH & DRIVE IN 30’ NO

EAST

CENTERPOINTE BUSINESS PARK 5802-5884 S 129TH E AVE TULSA, OK 74134

ADAMS & ASSOCIATES / DAN ADAMS / 918-495-3661 P. O. BOX 2407 BROKEN ARROW, OK 74013

37,000 89.2% $5.50

4,000 4,000 NO

YES 12’ NO

EAST

• • • • • •

FREEPORT TRADE CENTER 3148-58-68 South 108th East Avenue

Excellent Highway Access nearby and visibility to Hwy 169 Attractive Design Modern Clear Heights Ample Loading Areas Dock High, Van/Truck High, Drive-in ramp Access Large Concrete Truck Court

Contact: Bob Meyer or Jason M. Kennon Case & Associates Properties, Inc. 918-492-1983 EAST

FREEPORT TRADE CENTER 3148-58-68 S 108TH E AVE TULSA, OK 74146

CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135

185,732 85.9% $4.50

8,874 26,200 YES

DOCK HIGH, VAN HIGH, GRADE LEVEL 18’, 15.5’, 14.5’ NO

EAST

GARNETT BUSINESS PARK 5460 S GARNETT RD TULSA, OK 74146

FLEENER REAL ESTATE / BARBARA MEFFORD / 918-621-1133 1703 E. SKELLY DRIVE, TULSA, OK 74105

30,000 90.5% $6.25

2,860 2,860 YES

2 NO

NOTE EXPANDED LISTING

INDUSTRIAL | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

GRAEBEL WAREHOUSE 12535 E 52ND ST TULSA, OK 74146

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

82,290 100% $4.50

0 0 YES

(4)10’X10’ DH W/ LEVELERS, (2)8’X10’ DH, (2)12’X14’DI, (1)14’X14’DI

EAST

HEARTLAND TRADE CENTER 12330 E 60TH ST TULSA, OK 74146

ADAMS & ASSOCIATES / DAN ADAMS / 918-495-3661 P. O. BOX 2407 BROKEN ARROW, OK 74013

39,520 84.0% $6.50

6,329 6,329 NO

YES 10’ NO

EAST

KATY CROW 5443 S 108TH E AVE TULSA, OK 74146

CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135

120,157 100% $4.00

0 0 YES

DOCK HIGH 26’ YES

EAST

MARK I BUSINESS CENTER 12616 - 12626 E 60TH ST TULSA, OK 74146

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

50,230 77.4% $6.50

11,352 11,352 YES

DRIVE IN 19’ NO

EAST

METRO PARK EAST V 6031 S 129TH E AVE TULSA, OK 74134

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

59,500 100% $5.00

0 0 YES

DOCK HIGH & DRIVE IN 30’ NO

EAST

METRO PARK I 5233 S 122ND E AVE TULSA, OK 74146

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

48,000 100% $7.00

0 0 YES

DOCK & GRADE 24’ NO

EAST

METRO PARK II 12505 E 55TH ST TULSA, OK 74146

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

50,000 100% $4.00

0 0

DOCK HIGH 24’ NO

EAST

METRO PARK SOUTH 5915 S 118TH E AVE TULSA, OK 74146

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

40,000 100%

0 0 YES

DOCK & GRADE 25’ NO

EAST

METRO PARK SOUTH 11807 E 61ST TULSA, OK 74137

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

18,960 100%

0 0 YES

5 24’ NO

EAST

METRO PARK SOUTH 5925 S 118TH E AVE TULSA, OK 74137

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

20,000 100% $0

0 0 YES

YES 24’ NO

EAST

METRO WAREHOUSE 5616-5634 S 122ND E AVE TULSA, OK 74146

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

73,475 83% $6.50

5,000 12,500 PARTIAL

DRIVE IN 16’

EAST

SOUTHEAST TECH CENTER

EAST

24’ NO

• Located in Metro Park, one of Tulsa’s nicest industrial parks • Easy access with E. 55th St. frontage, one block west of S. 129th E. Ave. • Attractive Design with convenient drive-in loading • Ample loading areas

5411 South 125th East Avenue

Contact: Bob Meyer or Jason M. Kennon Case & Associates Properties, Inc. 918-492-1983 EAST

SOUTH EAST TECH CENTER 5411 S 125TH E AVE TULSA, OK 74146

CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135

31,506 78.9% $7.50

3,840 6,647 NO

GRADE LEVEL 14’ NO

EAST

SOUTHPLACE TRADE CENTER 8700 E 41ST TULSA, OK 74145

DAVE RICH COMPANY REALTORS / BILL RICH / 918-744-5474 6506 S. LEWIS AVE., STE. 108, TULSA, OK 74136

25,000 71.2% $6.00

3,600 7,200 NO

NONE 10’ NO

EAST

SPACE CENTER EAST 11915-12027 E 51ST ST TULSA, OK 74146

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

205,500 96.4% $4.50

7,500 7,500 YES

DOCK HIGH/DRIVE IN 18’ NO

EAST

TANDEM BUSINESS PARK 12101-12221 E 51ST TULSA, OK 74146

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

88,084 56.6% $8.00

10,873 38,200 NO

DRIVE IN 14’ NO

EAST

TRIANGLE INDUSTRIAL PARK 5829-5899 S GARNETT RD TULSA, OK 74146

MCGRAW COMMERCIAL PROPERTIES / DAVID LOONEY / 918-481-3200 2021 S. LEWIS , STE 410, TULSA, OK 74104-5710

27,950 89.3% $4.50

2,983 2,983 YES/NO

MULTIPLE 16’ - 22’ NO

EAST

WALVOIL BUILDING 12356 E 52ND ST TULSA , OK 74146

CUSHMAN & WAKEFIELD / COMMERCIAL OKLAHOMA INC. / ROB STEPHENS / 918-488-8418 4111 S. DARLINGTON, STE. 1190, TULSA, OK 74135

20,619 100% $6.75

5,000 0

1 GRADE DOORS 2 DOCK HIGH 24’

EAST

WILSHIRE SQUARE 11002-11010-11014-11022 E 51ST TULSA, OK 74145

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

67,378 92.1% $7.25

3,600 5,306 YES

DRIVE-IN DOORS 14’ NO

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

DRIVE IN 16’ NO

MIDTOWN MIDTOWN

6517-6531 E 46TH ST 6517-6531 E 46TH ST UNIT 6521 TULSA, OK 74145

CBRE, INC. / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

27,000 77.0% $6.00

4,700 6,200 NO

MIDTOWN

6650 E 44TH ST 650 E 44TH ST TULSA, OK 74145

CBRE, INC. / TONY AARONSON / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

40,312 -0% $3.95

40,317 40,317

MIDTOWN

7011 EAST 46TH ST 7011 EAST 46TH ST TULSA, OK 74145

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

27,000 0% $5.75

13,500 27,000 YES

GRADE A DOCK 24’

MIDTOWN

70TH WAREHOUSE 4118 S 70TH E AVE TULSA, OK 74145

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

37,104 100% $4.50

0 0 YES

DOCK HIGH / DRIVE IN 18’ NO

MIDTOWN

8160 EAST 41ST 41ST AND MEMORIAL TULSA, OK 74145

48,263 100%

0 0 YES

5 18’ NO

MIDTOWN

ALLTEC CENTER 9300-B BROKEN ARROW EXPRESSWAY TULSA, OK 74145

BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

22,967 78.2% $5.50

5,000 5,000 YES

GRADE LEVEL

MIDTOWN

BETA BUSINESS PARK 4444 S 70TH E AVE TULSA, OK 74145

BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

34,905 0% $5.25

34,905 34,905 YES

GRADE LEVEL DOCK HIGH 24’ NO

MIDTOWN

BETA BUSINESS PARK II 6549 E 46TH ST TULSA, OK 74145

BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

37,500 100% $5.25

0 0 YES

12’X14’ OHD 20’ NO

MIDTOWN

CORPORATE EXPRESS 4401 S SHERIDAN RD TULSA, OK 74145

TWENTY-FIRST PROPERTIES, INC. / 918-743-4300 2121 S. COLUMBIA, SUITE 650 TULSA, OK 74114

45,102 44.2% $3.75

25,163 25,163 YES

(3)12’X12’ DH (2)12’X12’ DI VARIES NO

MIDTOWN

CROSSTOWN DISTRIBUTION/COLD STORAGE 6511 E 44TH ST, TULSA, OK 74145

NAI RUPE HELMER, LLC / NAI RUPER HELMER, LLC / 918-745-1133 6846 S CANTON AVE, SUITE 250, TULSA, OK 74136

98,000 0% $9.50

40,000 98,000

12 DRY, 5 COLD 18-26 FT NONE

MIDTOWN

EXPRESSWAY TRADE CENTER 4304-4328 S MINGO RD TULSA, OK 74146

VENTURE PROPERTIES / MIKE MCLANE / 918-747-8700 4835 S. PEORIA, SUITE 20 TULSA, OK 74105

27,500 81.4% $6.50

5,110 5,110 NO

MIDTOWN

FAMCO PARK 6935-6945 E. 38TH ST TULSA, OK 74145

WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137

60,000 86.0% $4.00

4,500 8,400

DOCK/DRIVE IN/TRUCKWELL 16’

MIDTOWN

FLEX SPACE 4401 S SHERIDAN RD TULSA, OK 74145

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

102,214 100% $3.50

57,110 0 YES

4 16-22’ NO

MIDTOWN

MAXIM BUSINESS PARK 43RD ST & MINGO RD TULSA, OK 74146

BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

110,056 85% $7.00

5,162 16,518 NO

YES 12’ NO

MIDTOWN

MAXIM CENTER 4717-4733 S MEMORIAL TULSA, OK 74145

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

40,800 69.1% $7.50

7,721 12,592 YES

DOCK HIGH & GRADE LEVEL 14’ NO

MIDTOWN

MAXIM PLACE 6701-6715 E 41ST ST TULSA, OK 74145

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

33,750 87.6% $8.00

4,198 4,198 NO

GRADE LEVEL 14’ NO

MIDTOWN

MINGO TRADE CENTER 9522 E 47TH PL TULSA, OK 74145

NAI RUPE HELMER, LLC / MAX HEIDENREICH / 918-745-1133 6846 S CANTON AVE, SUITE 250, TULSA, OK 74136

41,650 100% $7.50

0 0 YES

BTS 11’7” NO

MIDTOWN

SANDERS COMMERCIAL CENTER 7601 E 46TH ST TULSA, OK 74145

CBRE, INC. / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

55,310 55.8% $3.75

24,468 24,468 YES

DOCK HIGH & DRIVE IN 21’ NO

MIDTOWN

SPACE CENTER 7001-7287 E 38TH ST TULSA, OK 74145

CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

495,000 75.0% $4.00

15,000 123,750 YES

GRADE LEVEL & DOCK HIGH 18’ YES

NOTE EXPANDED LISTING

INDUSTRIAL | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

THE TRADE CENTER 7739-43 E 38TH ST TULSA, OK 74145

CBRE, INC. / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

32,800 86.6% $6.00

2,400 4,400 NO

DRIVE-IN DOORS

MIDTOWN

TULSA BUSINESS PARK 7202-7378 E 38TH ST TULSA, OK 74145

CBRE, INC. / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

204,600 72.4% $5.00

17,050 56,540 NO

GRADE LEVEL & DOCK HIGH 16’ - 18’ NO

MIDTOWN

TULSA DISTRIBUTION CENTER 4477 S 70TH E AVE TULSA, OK 74145

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

458,290 99.5% $5.00

2,088 2,088 YES

DOCK HIGH / DRIVE IN VARIES YES

324,000 0% $3.50

324,000 324,000 YES

20 30’ NO

45,000 -900% $3.25

45,000 45,000 YES

DOCK HIGH 22’ NO

81,000 93.8% $4.75

2,500 5,000 NO

GRADE, DOCK 14’ NO DOCK HIGH/DRIVE IN 32’

MIDTOWN

NORTH NORTH

11324-11326 E APACHE 11324-11326 E APACHE TULSA, OK 74116

NORTH

1617 N 93RD E AVE 1617 N 93RD E AVE TULSA, OK 74115

NORTH

2700 N SHERIDAN 2700 N SHERIDAN RD TULSA, OK 74115

NORTH

3621 N MINGO 3621 N MINGO TULSA, OK 74116

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

42,000 0% $5.50

42,000 42,000

NORTH

5500 E INDEPENDENCE ST 5500 E INDEPENDENCE ST TULSA, OK 74115

CBRE, INC. / BOB PIELSTICKER / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

64,838 45.7% $4.00

35,238 35,238

NORTH

6929 READING PLACE 6929 READING PLACE TULSA, OK 74115

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

49,354 0% $4.40

49,354 49,354

DOCK HIGH/DRIVE IN 18-26’

NORTH

AIRPORT OFFICE/WHSE PROPERTY 2231 N SHERIDAN RD TULSA , OK 74115

WOLF GROUP PROPERTIES, LLC / HOWARD WOLF / 918-584-1425 320 S. BOSTON AVE., STE. 202, TULSA, OK 74103

29,680 63.6% $5.50

4,000 10,800

DRIVE IN / 14’ ROLL UP DOOR 16’

NORTH

BRADEN MANUFACTURING 5199 N MINGO RD TULSA, OK 74117

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

190,000 39.0% $3.50

103,569 115,817 NO

DRIVE IN 20’-32’ NO

NORTH

BRANIFF PARK WEST 10502-10626 E PINE ST TULSA, OK 74116

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

259,888 100% $4.15

0 0 YES

DOCK DOORS & DRIVE IN 21’ NO

NORTH

HANGAR 31 3315 N MEMORIAL TULSA, OK 74115

CBRE, INC. / BOB PIELSTICKER / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

26,550 0% $4.25

26,550 26,550

35’

LOUISVILLE COMPLEX PLANT 2 1305 N LOUISVILLE AVE TULSA, OK 74115

CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

175,000 92% $3.50

NORTH

LOUISVILLE COMPLEX PLANT 3 1355 N LOUISVILLE AVE TULSA, OK 74115

CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

60,000 11.5% $5.00

53,106 53,106

NORTH

MIDTOWN INDUSTRIAL CENTER 1024 N LANSING TULSA, OK 74106

TRABAND REALTY / ROBERT TRABAND / 918-629-1988 P. O. BOX 869 TULSA, OK 74101

33,000 100% $4.50

0 0 NO

BOTH DOCK & DRIVE IN 16’ NO

NORTH

NAUTILUS MANUFACTURING FACILITY 10757 E UTE TULSA, OK 74116

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

134,600 0% $4.85

134,600 134,600 YES

DOCK HIGH & DRIVE IN 24’ NO

NORTH

PINE STREET INDUSTRIAL PARK 1408 N 105TH E AVE TULSA , OK 74116

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

150,330 93.6% $6.50

9,597 9,597 NO

OH & DOCK DOORS 16’ NO

NORTH

TFP AIRPORT DISTRIBUTION CENTER 8831 E PINE TULSA, OK 74115

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

120,000 33.3% $2.95

80,000 80,000 YES

8 25’ NO

NORTH

VALHOMA CORPORATION / 918-836-7135

13,949

NOTE EXPANDED LISTING

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

2201 E.L. ANDERSON BLVD 2201 EL ANDERSON BLVD CLAREMORE, OK 74107

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

64,457 0% $2.80

64,457 64,457

AIRPARK DISTRIBUTION CENTER I 11401 E 27TH ST N TULSA, OK 74116

COATES COMMERCIAL PROPERTIES / PATRICK COATES / 918-610-0700 4111 S. DARLINGTON, STE 640, TULSA, OK 74135

100,000 100% $5.00

0 0 YES

DOCK HIGH & DRIVE IN RAMP ACCESS 30’

AIRPARK DISTRIBUTION CENTER II 11427 E 27TH ST N TULSA, OK 74116

COATES COMMERCIAL PROPERTIES / PATRICK COATES / 918-610-0700 4111 S. DARLINGTON, STE 640, TULSA, OK 74135

100,000 100% $5.00

0 0 YES

DOCK HIGH & DRIVE IN RAMP ACCESS 30’

AIRPORT INDUSTRIAL PARK I 11501-11541 E PINE ST TULSA, OK 74146

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

155,000 95.2% $4.25

7,500 7,500 YES

DOCK HIGH & DRIVE IN 25’ NO

BP EXCHANGE 10828 E NEWTON ST TULSA, OK 74116

BP EXCHANGE, L.L.C. / GORDON SUESS / 918-438-9058 10828 E. NEWTON STREET, SUITE 113 TULSA, OK 74115

173,400 92.6% $4.50

5,100 12,750 NO

GRADE LEVEL 12’-16’ NO

BP EXCHANGE INDUSTRIAL PARK 10837 E MARSHALL TULSA, OK 74116

BP EXCHANGE, L.L.C. / GORDON SUESS / 918-438-9058 10828 E. NEWTON STREET, SUITE 113 TULSA, OK 74115

163,200 92.2% $5.25

2,550 12,750

BRANIFF PARK EAST 1339-1381 N 108TH E AVE TULSA, OK 74116

BP EXCHANGE, L.L.C. / GORDON SUESS / 918-438-9058 10828 E. NEWTON STREET, SUITE 113 TULSA, OK 74115

67,660 82.0% $4.75

6,100 12,200 NO

GRADE LEVEL/DOCK HIGH 12’-16’ NO

CROSSTOWN BUSINESS CENTER 9797-10161 E ADMIRAL PL TULSA, OK 74116

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

197,127 75.0% $5.00

38,135 49,221 YES

DOCK HIGH/DRIVE IN 18’ NO

GREEN VALLEY CENTER 11333 E PINE ST TULSA, OK 74116

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

459,300 81.0% $4.25

42,334 87,107 YES

OHD & DOCK DOORS 34’ NO

INTERCHANGE BUSINESS PARK II 10835 E INDEPENDENCE TULSA, OK 74116

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

105,652 100% $3.75

0 0 YES

DOCK HIGH & DRIVE IN 18’ NO

PORT SPEC BUILDING TENKILLER RD CATOOSA, OK 74015

CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

44,250 100%

0 0 YES

DOCK HIGH & DRIVE IN 32’ YES

VANS GLEN 10816-10840 E NEWTON PL TULSA, OK 74116

PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 8242 SOUTH HARVARD, SUITE I TULSA, OK 74137

53,642 91.5% $4.68

3,050 4,550 0

GRADE 12’ NO

NORTHEAST NE

24’ 0

NORTHWEST NW

OSAGE INDUSTRIAL 3989 N OSAGE DR CATOOSA, OK 74127

WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137

55,000 100% $6.00

4 DRIVE IN OH DOORS 3-18’

PORT CITY METAL SERVICES 3101 CHARLES PAGE BLVD TULSA, OK 74127

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

238,068 100% $3.00

0 0

GRADE LEVEL YES

SOUTH SOUTH

5171 SO. MINGO ROAD 5171 S MINGO RD TULSA, OK 74146

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

31,450 100%

0 0 YES

LOADING DOCK/DOORS 28’ CLEAR NO

SOUTH

52ND STREET WAREHOUSE 10008-10050 E 52ND ST TULSA, OK 74146

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

96,480 100% $4.25

0 0 YES

DOCK HIGH 22’ YES

SOUTH

5400 INDUSTRIAL CENTER 5439-5445 S 99TH E AVE TULSA, OK 74146

MCGRAW COMMERCIAL PROPERTIES / DAVID LOONEY / 918-481-3200 2021 S. LEWIS , STE 410, TULSA, OK 74104-5710

15,840 61.7% $6.00

6,060 6,060 NO

2 UP TO 21’ NO

NOTE EXPANDED LISTING

INDUSTRIAL | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

SOUTH

55TH PLACE BUSINESS PARK 10404 E 55TH PL TULSA, OK 74146

ADAMS & ASSOCIATES / DAN ADAMS / 918-495-3661 P. O. BOX 2407 BROKEN ARROW, OK 74013

41,160 100% $7.00

0 0 NO

N/A 16.5’ NO

SOUTH

7181 MINGO CENTER 7181 S MINGO RD TULSA, OK 74133

EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

37,400 100% $8.00

0 0 YES

GRADE 14’ NO

SOUTH

9999 E 59TH ST 9999 E 59TH ST TULSA, OK 74146

CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

81,960 0% $4.50

81,960 81,960 YES

DRIVE IN GRADE LEVEL (1) DOCK HIGH (5) 20’ NO

SOUTH

BRANIFF MART 5401 S SHERIDAN RD TULSA, OK 74145

BP EXCHANGE, L.L.C. / GORDON SUESS / 918-438-9058 10828 E. NEWTON STREET, SUITE 113 TULSA, OK 74115

33,600 66.1% $8.00

8,400 11,400 NO

10’X10’ OVERHEAD 12’ NO

SOUTH

FORD PARTS DISTRIBUTION CENTER 10007 E 61ST TULSA, OK 74146

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

80,000 100% $0

0 0 YES

YES 24’ NO

SOUTH

IPC BUSINESS PARK 10102-10126 E 54TH ST S TULSA, OK 74146

ADAMS & ASSOCIATES / DAN ADAMS / 918-495-3661 P. O. BOX 2407 BROKEN ARROW, OK 74013

68,660 95.4% $5.50

3,125 3,125 NO

YES 16.5’ NO

SOUTH

MARKET PLACE AT POINTE SOUTH 8303-8311 E 111TH ST BIXBY, OK 74008

CBRE, INC. / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

106,900 77.6% $6.50

4,400 23,900

DRIVE IN 16-18’ NO

SOUTH

MARKET PLACE EAST 9436 E 51ST ST TULSA, OK 74146

BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

26,048 74.4% $8.50

4,750 6,675 NO

YES 12’ NO

SOUTH

MARKET PLACE WEST I 9410 E 51ST ST TULSA, OK 74146

NAI RUPE HELMER, LCC / MAX HEIDENREICH / 918-745-1133 5810 E. SKELLY DR., SUITE 1400, TULSA, OK 74135

27,200 100% $9.00

0 0 NO

GRADE LEVEL 14’ NO

SOUTH

MARKET POINTE SOUTH 111TH ST & MEMORIAL BIXBY, OK 74008

106,900 75.3% $7.50

4,200 26,400 NO

DRIVE IN OVERHEAD DOORS 17’-21’ NO

SOUTH

METRO PARK EAST II 13555 E 61ST ST TULSA, OK 74012

MAPLEOAK INVESTMENTS / DAN GUTERMAN / 918-742-6201 4157 S. HARVARD, STE. 100, TULSA, OK 74135

100,000 100% $4.25

0 0 YES

DOCK HIGH & DRIVE IN 30’ NO

SOUTH

METRO PARK EAST III 13505-13555 E 61ST ST BROKEN ARROW, OK 74012

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

100,000 79.8% $5.95

20,180 20,180 YES

DOCK HIGH/DRIVE IN 30’ NO

SOUTH

METRO PARK EAST IV 13105 E 61ST ST TULSA, OK 74012

CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

58,200 78.6% $5.95

12,450 12,450 YES

DOCK HIGH & DRIVE IN 24’ NO

SOUTH

REGENCY CENTER 5024 S MINGO RD TULSA, OK 74146

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

28,800 100% $0

0 0 YES

5 24’ NO

SOUTH

SEARS / STATE SERVICE SYSTEMS 10405 E 55TH PL TULSA, OK 74146

TWENTY-FIRST PROPERTIES, INC. / MONTE STEWART / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114

234,191 87.5% $4.50

29,186 29,186 YES

37 25’ NO

SOUTH

SHANNON SQUARE 9433, 9515, 9525 E 51ST TULSA, OK 74145

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

99,100 95.0% $6.25

4,950 4,950 NO

YES 12’ NO

SOUTH

SKYLAND SOUTH 5130-5161 S 94TH E AVE TULSA, OK 74145

BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

65,095 92.3% $5.25

5,000 5,000 NO

YES 16’ NO

WEST

2804 W 40TH ST 2804 W 40TH ST TULSA, OK 74107

CBRE, INC. / TONY AARONSON / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

30,000 0% $2.40

30,000 30,000

WEST

TULSA INDUSTRIAL CENTER 5400 S 49TH W AVE TULSA, OK 74107

CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

363,692 81% $5.50

45,000 69,000

WEST

DOCK HIGH & DRIVE IN YES

NOTE EXPANDED LISTING

NAIOP 2017 A DV E RT I S E R S I ND EX

Bank of Oklahoma 918-499-8470 7060 S. Yale Ave., Suite 301 Tulsa, OK 74136 bok.com Page 37 Bauer and Associates Realtors 918-665-1210 4821 S. Sheridan Road, Suite 201 Tulsa, OK 74145 bauertulsa.com Page 71 BOMA Tulsa 918-605-9931 P.O. Box 14183 Tulsa, OK 74159 bomatulsa.com Page 15 Case and Associates 918-492-1983 4200 E. Skelly Drive, Suite 800 Tulsa, OK 74135 caseusa.com Back Cover CityPlex 918-493-8888 2488 E. 81st St., Suite 188 Tulsa, OK 74137 tulsatrinity.com Page 1 Claymore 918-505-9292 300 N. Main Street Broken Arrow, OK claymorecm.com Page 37 Commercial Title 918-556-6336 4739 E. 91st St., Suite 200 Tulsa, OK 74137 commercialtitleok.com Page 2

CrossFirst Bank 918-494-4884 7120 S. Lewis Ave. Tulsa, OK 74136 crossfirstbank.com Page 9

Industrial . Warehouse . Office . Land . Multi-Family . Retail . Medical /mcgrawcp /mcgraw-commercial-proper ties @mcgraw_cp

McGraw Commercial Properties 4105 S. Rockford Ave. Tulsa, OK 74105 918.388.9588 www.mcgrawcp.com

McGraw 918-388-9588 4105 S. Rockford Tulsa, OK 74105 mcgrawcp.com Page 49

Cyntergy 918-877-6000 320 S. Boston Ave. Tulsa, OK 74103 cyntergyaec.com Page 24

OK CCIM 918-850-3654 P.O. Box 14343 Tulsa, OK 74159 okccim.com Page 15

Gemini Rosemont 918-492-3400 6100 S. Yale Ave., Suite 390 Tulsa, OK 74136 geminirosemont.com Inside Front Cover

Paradigm Realty Advisors 918-665-1900 4500 S. Garnett Road, Suite 600 Tulsa, OK 74146 paradigmtulsa.com Page 4

Great Southern Bank 918-499-2602 4200 E. Skelly Drive, Suite 900 Tulsa, OK 74135 greatsouthernbank.com Inside Back Cover

Price Edwards & Co. 918-394-1000 7633 E. 63rd Place, Suite 400 Tulsa, OK 74133 priceedwards.com Page 15

Guaranty Abstract Co. 918-587-6621 2705 E. 21st St. Tulsa, OK 74114 guarantyabstract.com Page 24

Tulsa Regional Chamber 918-585-1201 1 W. Third St. Tulsa, OK 74103 tulsachamber.com Page 9

HUB INTERNATIONAL 918-359-6000 1350 S. Boulder Ave., Suite 1000 Tulsa, OK 74119 hubinternational.com Page 72

Twenty First Properties 918-743-4300 2121 S. Columbia Ave., Suite 650 Tulsa, OK 74111 tfptulsa.com Page 15

JLL 918-492-4844 405-721-1133 us.jll.com/valuation-advisory Page 23

Xceligent 877-628-5300 103 S.E. Magellan Drive Blue Springs, MO 64014 xceligent.com Page 37

KKT 918-744-4270 2200 S. Utica Place, Suite 200 Tulsa, OK 74114 kktarchitects.com Page 23

M U LT I F A M I LY O V E R V I E W

MARKET REBOUND Occupancy and rental rate increased the first half of 2017. What’s in store for the remainder?

Tulsa has enjoyed an increasingly improving apartment market over the past six and one-half years, but that changed by year-end 2016. Both overall occupancy and rent-

al rates decreased across all submarkets except for Class “A” apartment occupancy. According to the CBRE Year-End Market Overview, roughly 70 percent of all property surveyed were offering some type of concessions. The report went on to say that overall rental rates decreased by 3.7 percent and that overall occupancy averaged

90 percent, down from 92.5 percent at mid-year 2016. With 645 units coming available through 2016 and a market supply near 60,000 units, Tulsa saw negative net absorption of -0.93 percent throughout the year.

The good news is that the CBRE First Half 2017 Market Overview states that “the

market has rebounded during the past six months. Both occupancy and rental rates are up with occupancy increasing 1.5 percent to 91.5 percent and rental rates increasing 2.8 percent.”

BY GARY KRISMAN 63

M U LT I FA M I LY O V E R V I E W

ECONOMY Tulsa’s unemployment rate decreased by 0.6 percentage points from 4.8 percent in January 2017 to 4.2 percent in April 2017. By comparison, the U.S. rate was 4.4 and Oklahoma’s was 4.3 percent, according to the Bureau of Labor Statistics. Employment opportunity has decreased by 1,000 positions in the Tulsa metropolitan statistical area over the past year. Industrial jobs (industries include manufacturing and trade, transportation and utilities) decreased by 2,600 positions during the past year. Office jobs (information, professional business services and

SUPPLY Tulsa added only 646 units to the overall inventory in 2016. Two of these projects were in the Broken Arrow submarket — Creekside containing 248 units and Icon containing 236 units. The other project delivered was downtown’s Edge at East Village containing 162 units. As it has been noted in the past, Tulsa can typically absorb approximately 1,100 units per year, so these additions should fill easily. New units coming online in 2017 is a different story, and closer to the average added in the past. There will be five projects completed this year containing a

financial activities) have increased by 800 positions during the past year. There is no getting around the fact that low oil prices, weak global demand and a strong dollar will hold our local economy back. In July 2017, an Oklahoma City economist with the Federal Reserve stated that “Oil is still the sector that probably drives our state economy more than any other. When those jobs go away, if they do go away, that’s reduced spending at various places in the state.”

total of 1,111 units. Two of these projects are in Broken Arrow, one each in Jenks, Owasso and south Tulsa. In 2018 we should see the opening of four more projects containing 1,095 units. Two in Tulsa, one in Bixby and one in Jenks. Virtually all of this new product is considered Class “A” quality, which maintains the highest occupancy of all classes. So, it appears that supply and demand are in balance subject to our local economy holding steady.

Another negative that is beginning to affect job growth in our community and Oklahoma is gridlock between our state leaders in regard to school funding. The good news is that Tulsa’s cost of doing business is 15 percent below the U.S. average due to low rent, energy costs and taxes. In August 2017, the Oklahoma State Treasurer announced that July was the sixth month out of the last seven in which gross receipts registered an increase over the same month a year ago. This indicates an economic recovery for the state. Tulsa will continue to be a prime location for industry prospects looking to relocate or expand at a steady pace. A prime example of this is the announcement that Logistyx is moving its national headquarters to Tulsa, beating out Chicago.

New Supply Projections Occupancy

1,600

100% 98% 1,253

1,100

1,117

1,111

96%

1,094

1,049 925

94% 92%

646

600

90% 296

88% 86%

100 2012

2013

2014

2015

2016

2017

2018

2019

INVESTMENT SALES (MID-YEAR 2016 TO MID-YEAR 2017) During the past 12 months there have been 12 properties (containing over 100 units) sold in our market for a total sales volume of $148,028,000. The total number of units sold was 2,950. The highest price per unit paid was for Marquis on Memorial at $102,272 per unit. The two largest properties sold were Creekwood containing 657 units at $59,600 per unit, and Westport on the River containing 682 units at $59,530 per unit. Taking out these three projects, the balance of the sale of 1,485 units averaged $37,123 per unit.

“Domestic economic fundamentals will continue to push rates higher, but there will be volatility and downward pressure from global and domestic geopolitical uncertainty, along with a Fed that will start to phase itself out as the largest purchaser of mortgage backed securities,” according to the Mortgage Bankers Association Economic Forecast from June 2017. “Our forecast is for mortgage rates to average 4.2 percent in 2017 before increasing to 4.9 percent in 2018. These rates are still very low by historical standards.”

TOP TRANSACTIONS

CONCLUSION There will be extremely strong interest in the acquisition of all classes of multifamily in the coming 18 $59,600 months. Class “A” apartprice per unit According to the mid-year ments will trade at a sub at Creekwood multifamily report prepared 6 percent cap rate while by CRRC “Overall, comclass “B” properties will $59,530 pared to mid-year 2016, trade in the 7 percent cap price per unit at total units sold were 32 perrate range. This will be a Westport on the River cent higher, average price good opportunity for ownper unit was 27 percent ers to look at their “Hold/ higher and the number of Sell” strategy. As interest transactions was 11 percent rates rise in the future, cap higher.” It should be obvirates will eventually rise as ous from these numbers that multifamily is still well, thus a decrease in value via the Income the darling of the CRE investment spectrum and Approach to Value. Not all projects will be valTulsa is certainly on the radar of national and loued by the cap rate on existing income. Expecal investors. rienced multifamily investors will underwrite a property based on how they can add value to CAPITAL MARKETS the property by investing rehabilitation dollars There will be abundant capital available for conand better management. It should be another struction and permanent financing for multifamgood year. • ily in 2017. Credit: Brian Donahue, CBRE; Darla Knight, CRRC; and Ron Turner, Xeclligent.

$102,272 highest price per unit (Marquis on Memorial)

The Admiral Twin Drive-In movie theater is one of just a few hundred drive-in movie theaters left in the U.S.

LAND MARKET OVERVIEW

ABSORPTION, CONSOLIDATION AND VALUE 2016 and 2017 have marked a slowing of sprawl in the Tulsa MSA and a turn to value-driven, infill projects in preparation for likely expansion in 2018.

BY NICK LOMBARDI 67

LAND MARKET OVERVIEW

Apart from the continued expansion of the

spite the reduction in activity, the nature

Highway 75 Corridor, the Tulsa Market has

of retail land transactions provides inter-

focused on absorption and infill develop-

esting insight into the focus of the retail

ment in 2017. Projects have been driven

market. Value has been a consistent driver

by value propositions as well consolidation

for about the past five years, but more and

of existing holdings. Further, the sprawl

more, identity and lifestyle are driving ac-

that has long characterized the Tulsa MSA,

quisition.

while certainly not stagnant, has palled in the face of greater op-

Housing has continued

portunities in high-traffic

its steady stream of ac-

and proven segments of

quisition over the past

the market. Land parcels for industrial and housing (both single-family and multifamily) have remained strong throughout the year with retail taking a slight dip as compared to 2016 and office parcels

continuing

Despite the reduction in activity, the nature of retail land transactions provides interesting insight into the focus of the retail market. Value has been a consistent driver for about the past five years, but more and more, identity and lifestyle are driving acquisition.

12 months â&#x20AC;&#x201D; with multifamily remaining strong, albeit slowing â&#x20AC;&#x201D; and single-family land selling well in Broken Arrow,

Glenpool,

Bixby

and west Tulsa. In fact, single-family land purchases are on track to exceed 2016 totals by

their

approximately 30 per-

slide from 2014. In fact,

cent and possibly even

land purchased for of-

exceed

fice use from 2016 and

2014 totals. So far, the

2017 is still lower than the totals of 2014.

the

spike

greatest coup of the year has been the purchase of Meadowbrook Country Club for a

Retail, and the associated volatility as of

new housing and mixed-use development.

late, has stunted new development with

Keep an eye on this sector as things are

demand and transaction volume at about

really heating up on the Mingo Corridor.

65 percent of 2016 totals. However, de-

SALES BY MARKET SECTOR

The industrial market has continued robust activity with transaction volume keeping pace with 2016 and larger parcels being acquired â&#x20AC;&#x201D; shifting from an average parcel size of just over 6 acres in 2016 up to almost 18 acres per transaction in 2017. New development at East 36th Street North and

Retail

Office

Residential

Industrial

Special Use

40 35 30 25 20 15 10

South Peoria Avenue promises to create a

new industrial powerhouse with premier

0 2012

2013

2014

2015

2016

2017

road access as well as proximity to downtown Tulsa and Tulsa International Airport.

TOTAL SALES VOLUME Transaction Volume

Special uses (churches, hotels, automotive and mini-storage) have continued to be flat as a market segment continuing from

140 120 100

2014. Adversity to zoning of automotive

and storage uses in a number of munici-

palities in the Tulsa MSA has contributed

to this as well as ample supply within the

20 0

segment.

2012

Entitlement and regulatory changes in the the nature of development within our area, particularly within the confines of the city of Tulsa, namely: the implementation of the new Tulsa Zoning Code, the River District Overlay, the Bus Rapid Transit Plan, proposed Traffic Impact Analysis requirements and the revision to Subdivision Reg-

2013

2014

2015

2016

2017

SALES PRICES

past year continue to shape and influence

ulations.

Average Parcel Size (acres)

Average Price PSF

High Price PSF

$90 $80 $70 $60 $50 $40 $30 $20 $10 -$ 2012

2013

2014

2015

Tulsa has one of the highest volunteer rates for a mid-sized city in the nation according to the Corporation for National and Community Service.

2016

2017

LAND MARKET OVERVIEW

First, the River District Overlay is a harbin-

The proposed new Subdivision Regulations,

ger of future ordinances, small area plans

while primarily targeted at single-family

and building design standards. Building

residential development, have some stip-

zones along arterial frontage requiring

ulations which are of concern to the com-

high building coverage area; pedestrian

mercial portion of the market, particularly

and bicycle-centric design; screening for

multifamily and retail development. Imple-

cars and a reluctance to permit drive-thrus;

mentation of the new proposal would re-

higher

quire Transportation Impacted Analyses of

landscaping

requirements

and

more stringent materi-

each site prior to permit-

al limitations. Although

ting. If an impact greater

this ordinance affects a

than acceptable stan-

wide swath of develop-

dards is anticipated, not

able area, it truly affects a small number of sites outside the control of the City of Tulsa and the River Parks Authority. The Bus Rapid Transit Plan or BRT, seeks to solve transportation is-

Single-family land purchases are on track to exceed 2016 totals by approximately 30 percent and possibly even exceed the spike of 2014 totals.

only would it require a change in design, it may put the development in jeopardy. This process has been a bit of a mess and we encourage all NAIOP members to contact those on the Work Group of this initiative.

sues along the Peoria Corridor from East 36th

Another possible sticky

Street North to East

wicket is the require-

81st Street as a precur-

ment of stream buffers

sor to the Route 66 / 11th Street Rapid

in areas affected by Clean Water Act reg-

Transit Plan. This will give opportunity to

ulations or FEMA requirements to devel-

developers to have on-site demand for

opment. Maintenance and conservations

retail or easier access to employment

costs per the regulation would increase the

centers. It also has the possibility of

expense of development and may make

creating greater congestion in already

some site development untenable. Tulsa

high-traffic areas.

also is looking at increasing landscaping

The City of Tulsa includes over 5.2 million public and private trees. 70

requirements across the board, so keep a look out for this to come right on the heels of the revised Subdivision Regulations. Moving into 2018, we see a continued pursuit of infill sites — especially downtown, Cherry Street, Brookside and the 71st Street Corridor. There is also the reality that as prices for land remain high in these areas, ancillary or adjacent corridors will attract users looking for a value proposition while still within earshot of the “hot spots.” Segments of midtown Tulsa, south Tulsa, Broken Arrow, Bixby and Jenks will see previously underutilized areas become attractive to developers and end-users alike. With the aggressive absorption and consolidation of sites in the Tulsa MSA over the past 24 months, the market is at a crossroads of geographic expansion or creating density in areas that already have population and infrastructure. Consumers will ultimately make this determination via their spending practices, but the decision as developers and owners in Tulsa is clear: is it in our destiny to grow out or grow up as a market? •

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