Market Overviews Tulsa • National
Industry Overviews Office • Retail • Industrial • Multifamily
2 0 1 8
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table of contents MAP ZONES ............................. 33 OFFICE Listings....................................... 34
RETAIL Listings....................................... 54
INDUSTRIAL Listings....................................... 68
CLEAR SKIES AHEAD................................................... 6 By Robert Evatt National
FEEL GOOD SEASON. . ............................................... 12
By Steve Hill
New in Tulsa: Gathering Place
TULSA’S SHOWPLACE................................................ 18 By Connie Cronley and TulsaPeople Staff Office
MODERATE PROGRESS.............................................. 26 By Matt Reese, CCIM Retail
HIGH TIMES FOR 2019?............................................. 48 By Steve Walman
GENERAL
Industrial
2018 NAIOP Events................... 24
By Shawna Hale, CCIM
NAIOP Oklahoma Members...... 46
2
Tulsa
SOLID GROUND........................................................ 64
2017 Deals of the Year.............. 63
Multifamily
Advertiser Index........................ 75
By Robert Leikam
SUPPLY AND DEMAND.............................................. 76
2018 NAIOP OKLAHOMA BOARD OF DIRECTORS AND OFFICERS RICK GUILD President The Guild Co. BILL BEICHLER Vice President McGraw Commercial Properties ALEX LEIKAM Treasurer Bank of Oklahoma 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 Steve Ganzkow, American Residential Jason Kennon, Case and Associates Nick Probst, Corporate Realty Advisors DIRECTORS Derek Bateman, Trinty Commercial Properties Susan Buck, Flintco LLC Chris Bumgarner, Bumgarner Asset Management Crystal Keller, Crystal Keller Consulting Bobby Pielsticker, CBRE 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 2018. 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 by Greg Bollinger.
from the president
Welcome to Tulsa Trends 2018. Thank you for reading our 29th annual Tulsa Commercial Properties magazine. As with each of the previous editions, we believe this publication offers the reader the most insightful and valuable information available regarding the Tulsa commercial real estate market. I have been fortunate to be involved in NAIOP for more than 25 years, either as President (1991, 1992, 2017 and 2018) or on the Board. The past two years have 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 for me to address for you at these meetings. We recently celebrated National NAIOP’s 50th Anniversary at its national offices in Washington, D.C. I also am proud to announce that we have a record number of local members (115) and are targeting an increase to 125 members in 2019. We changed our Tulsa Trends location to Southern Hills Country Club last year. This year our cocktail reception at Southern Hills, immediately following Trends, has been modified to be a much nicer event. Please stay to attend, and let me know how you like this location and reception, so we can improve it for next year. We will have our fourth annual NAIOP black-tie Awards Gala at the historic Mayo Hotel on April 25, 2019. We expect more than 200 attendees. Please make your reservations today, since we sold out last year, and we cannot add any additional capacity to the Mayo Hotel’s largest ballroom. Tulsa’s future looks bright and this chapter of NAIOP will continue to provide a significant amount of added-value to its members. In case you have missed any of our monthly NAIOP breakfasts at Southern Hills, our speakers have been: Mark VanLoh, President and CEO of the Tulsa Airports Authority. VanLoh oversees Tulsa International Airport, Riverside Airport and other airports in the surrounding area. Kevin Stitt, CEO and President of Gateway Mortgage and developer of the Gateway campus in Jenks. Stitt has grown Gateway into a nationwide mortgage company that today employs 1,200 people, has 164 field offices in 41 states, and holds a loan servicing portfolio of more than $16 billion. Stitt is campaigning for governor in 2018. Doug DeJarnette, Director of Commercial and Private Banking at Valley National Bank. DeJarnette spoke to NAIOP about the new 101,000-square-foot Valley National Bank building currently under construction just west of ONEOK Field in downtown Tulsa. Kathy Taylor, former Tulsa Mayor and Co-Founder of the Lobeck Taylor Family Foundation. Taylor was the Chief of Economic Development for the City of Tulsa when she spoke to our group. Mayor G.T. Bynum, current Tulsa Mayor and former Tulsa City Councilor. Stuart Price, downtown Tulsa’s largest landlord, with more than 2 million square feet purchased from Maurice Kanbar. Oklahoma NAIOP wishes to express its sincere thanks to all of 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 all 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. NAIOP provides unique access to companies for professionals in commercial real estate that is second to none. We encourage you to get involved and put our membership to the test! NAIOP is also an outstanding resource for younger commercial developers and brokers, age 35 or younger, to get immediate access to many experienced mentors. As a group, we will continue the NAIOP Developing Leaders mentoring program that Zach Harris and Steven Watts put in place last year. If you are an employer of young professionals in the commercial real estate sector, please point them in our direction. Thank you to the Tulsa Regional Chamber for distributing this publication to companies interested in making Tulsa home. NAIOP Oklahoma continues to be strong and active in all areas of business, civic and government affairs, continues to promote legislation helpful to the real estate industry, and provides excellent educational and networking opportunities. In closing, I once again emphasize the value of becoming a NAIOP member. When you join NAIOP, and actively participate in the many chapter programs and events, you undoubtedly gain a competitive edge in the industry. Best wishes to all for an exciting and prosperous 2019!
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.
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from the developing leaders NAIOP’s Developing Leaders is an exclusive program geared specifically for all commercial real estate focused professionals age 35 and under. 2018 has been a landmark year for the Oklahoma chapter of NAIOP’s Developing Leaders Program. This year we continued to see an increase in both Developing Leader members and membership participation. To start the year, we kicked off our new Mentorship Program at The Summit Club. This program gives Developing Leaders the opportunity to connect with seasoned real estate professionals that are among the chapter’s membership. Developing Leaders connect with mentors over an online portal that assists them in setting up meeting times with each specific mentor. This program has proved successful and has already reaped benefits among the mentee and mentor participants. In addition to the mentorship program, we also launched a new series of events called “DL on Tap.” These events take place at popular area bars and taprooms, allowing the Developing Leaders an informal setting to network with one another and with NAIOP Oklahoma Chapter leadership. This summer, we hosted a Lunch and Learn event at Cyntergy’s offices in downtown Tulsa. The lunch’s theme was Tulsa’s new Cathedral District, which includes land south of Seventh Street to the IDL. The speaker for this event was Bob Pielsticker with CBRE, which has significant investments in the new district. This fall promises to offer many more opportunities for Developing Leader members to become more involved with the chapter, network with one another and grow themselves professionally.
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 Leader member of NAIOP.
Zachary Harris Director Stan Johnson Co. Developing Leaders Co-Chair
Steven Watts Managing Partner Rose Rock Development Partners Developing Leaders Co-Chair
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6
TULSA MARKET OVERVIEW
CLEAR SKIES AHEAD As Tulsa breaks free of the gray cloud of the oil recession, industrial and commercial endeavors are making Tulsa ripe for a sunny forecast. The most recent economic recession faded into an unpleasant memory for most of the country years ago. But for petroleum-heavy areas like Tulsa, the low price of oil stuck around like a curse. Long after the housing market recovered, oil prices stayed near $40 per barrel, too low to allow many oil and natural gas companies to truly ramp up production, boost their employment numbers and create a friendlier environment for commercial real estate. Though Tulsa was lucky enough to diversify after the crippling oil bust of the 1980s, low prices still held the area’s recovery back somewhat. About 12 months ago, when many had given up hope oil prices would ever escape the $40 range, things suddenly started to improve. Thanks to falling international production and a strengthening global economy, oil prices rose to near the $80 per barrel range as of this writing, and prices have remained stable enough to convince industry leaders this recovery is the real deal.
BY ROBERT EVATT 7
TULSA MARKET OVERVIEW
Finally, the oil curse has lifted, and that has
“Ultimately, what we need to increase oc-
Tulsa-area real estate professionals, including
cupancy, increase rents and have more devel-
Shaun Frankfurt, asset manager for Helmerich &
opment is to attract new businesses,” he says,
Payne real estate, feeling downright optimistic.
“which should absorb additional square feet
“We’re hopeful the price of oil stays high
and create demand for new space and remodel
and this expansion continues,” Frankfurt says. Bob Ball, director of economic research for the Tulsa Regional Chamber, said the local
Ball says the Chamber has been making real progress toward that goal.
economy is now growing at a rate of 2.5 per-
“Investors are starting to make long-term
cent per year based on employment, and the
decisions in favor of Tulsa,” he says. “We’re
recent oil recovery seems to be further fueling
getting interest in regional office operations
that growth.
across the board, including with manufac-
“Foundational support sectors like manufacturing and oil and gas are doing particularly well,” Ball says. “Oil and gas employment is up 9 percent year over year as of August.”
turers looking at office space for back-office operations.” And Gathering Place could make Tulsa an even more attractive location for businesses.
Most sectors of the local economy are ex-
Though bringing the huge, $450 million river-
periencing growth, with goods production up
side park to life took longer than anticipated,
nearly 4 percent with the largest component of
it finally opened in September and has become
goods production, manufacturing, up nearly 5
an instant hit with everyone. And if the first 100
percent. Unemployment has dipped to 3.5 per-
days of events marking its grand opening are
cent in August, and Ball says that’s not based
any indication for the future, Gathering Place
on a technicality.
should remain a high-profile attraction well into
“Sometimes unemployment declines due to people giving up finding work, but that’s not
the future. Dailey
says
Gathering
Place,
the
in-
the case now,” he says. “We’re seeing more
development OKPOP museum and the contin-
jobs being filled by the previously unemployed
ued strengthening of downtown are all helping
by new persons entering the labor force.”
to make Tulsa a more appealing decision for
More jobs mean more need for places to work. That relief is coming at just the right time according to Neil Dailey, commercial properties managing broker for McGraw Commerical Properties. “We still have a lot of office space available in the metroplex,” he says.
8
existing space.”
companies in search of a new location. “Tulsa’s becoming a great showplace,” he says. “We’re getting a lot of wins.” Ball says he’s not certain of what sort of development impact Gathering Place will have, though ONEOK Field, another high-profile new attraction, helped draw in numerous office, re-
On top of that, rental rates are soft overall,
tail and residential projects to the area, with
Dailey says. Even with rising employment, the
some still in development in and around the
office sector needs more.
Tulsa Arts District.
Frankfurt says that development sparked by Gathering Place likely won’t be geographically widespread, though it could serve to make the area around downtown an even bigger draw.
office, retail, warehouse, etc. This is an example of that.” For retail, Tulsa spaces are facing the same problem faced by retail centers across the
“I think Gathering Place will have more of an
world: Amazon. As sales grow at the internet
effect on real estate near it,” he says. “That’ll
giant and other online retailers, shoppers have
keep bringing people to the center of the city.”
less of an incentive to get out of the house and
In fact, much of the office and retail development currently happening is concentrated in the downtown area. Just some of these include
get into a traditional store. This conundrum is universal, but it’s not impossible to overcome, Frankfort says.
the Residence Inn & Suites, the Valley National
“Amazon’s putting pressure on all brick-
Bank headquarters, the Tulsa Club renovation,
and-mortar retail centers,” he says. “Amazon
Holiday Inn Express, The Flats on Archer, 111
has caused traditional retail to reconsider their
Greenwood and the ambitious mixed-use San-
value propositions and focus on their customers
ta Fe Square project, which officially kicked off
in new and better ways than they did before.”
with construction of a Hotel Indigo.
For example, Helmerich & Payne’s Utica
Outside of Tulsa’s downtown, perhaps the
Square is taking numerous active steps to re-
biggest retail project under construction is the
main an attractive draw. The company has in-
Shops at Warren Place by the southwest cor-
vested a considerable amount of money in the
ner of East 61st Street and South Yale Avenue.
property over the last year for an array of im-
Though its long-planned development stalled
provements.
during the recession, it has now filled with
But beyond that expected move, Utica
tenants including Starbucks, Mahagony Prime
Square’s landlords are working to help the ten-
Steakhouse, Jimmy Johns, Boardroom Men’s
ants out in nontraditional ways. For example,
Salon, Bellas House, Crushed Red, Pub W and
the group uses a merchants’ association to
Neighborhood JAM.
leverage social media platforms and highlight
“That’s an A-class project in an A-class office
individual tenants. The group also hosts reg-
area,” Dailey says. “They’re going to get rents
ular social media workshops with the help of
that will absolutely support it.”
outside public relations firms to help train and
But beyond that, there are relatively few of-
assist merchants with their own online campaigns.
fice, retail or mixed-use projects in active de-
Frankfurt says his group also works with
velopment other than downtown. Dailey says
prospective new tenants to redesign spaces in
despite the success of the high-profile Shops at
ways that work well for their individual strate-
Warren Place, there are still a number of factors
gies, such as the relaxed atmosphere created
holding back new construction.
for Gearhead Outfitters, a growing outdoor
“Construction costs are still high, and equiv-
goods store based in Arkansas.
alent rents are not yet to market value,” he
Not only has the Gearhead Outfitters loca-
says. “There will always be a ‘flight to quality’ in
tion performed well since opening up this sum-
Tulsa is 804 feet above sea level. Tulsa County covers 587.02 square miles. 9
TULSA MARKET OVERVIEW
mer, but all of Utica Square has continued to
“Industrial has long been the darling of
prosper, Frankfurt says. “Our year-to-year sales
Tulsa’s commercial real estate, with the low-
growth has been going well,” he adds.
est vacancy rates across the sectors and now
Even with online competition, Dailey says he
seeing increases in rental rates in new facility
believes the overall retail market is set to recov-
deliveries,” Dailey says. Technical advances in
er in different ways, with occupancies and rents
construction, stacking and delivery is driving a
improving. The big-box days are most likely
new functionality of warehouse with 30-foot-
over for now in most cases. Other industries
plus ceiling heights, LED lighting, fire suppres-
and delivery of product experiences will evolve
sion, forklift capability and hybrid facilities with
to fill these holes.
manufacturing and distribution.
In Oklahoma, one brand-new industry just might help out landlords: medicinal marijuana.
spaces with higher power availability and high-
According to Dailey, it is filling up vacancies
er dock heights, with older buildings without
in both the retail and warehouse market. It has
those features becoming the majority of the
drastically changed the markets and economy
space available.
in Colorado, Washington, Arizona and California, to name a few.
The tight supply has lingered even with the high demand, and that sometimes makes it dif-
Amazon’s having a more direct impact on the Tulsa area in the industrial space, as
ficult for the city to land new businesses, Dailey says.
the company announced plans to construct
“The Chamber is competing with other
a 600,000-square-foot distribution center in
cities, but we don’t always have readily avail-
the area. When finished, it will employ 1,500
able product,” he says. “We have shovel-ready
people.
sites, but we’re still close to a year before de-
Though it’s the largest bit of industrial news
livery.”
this year by far, Frankfurt says he doesn’t ex-
Ball says there’s only one factor coming in
pect it to have much of a ripple effect on the
the near future that could impede commercial
market.
real estate — higher interest rates. After stay-
Instead, that honor goes to higher oil prices,
ing at rock-bottom for what seemed like an
as the need for more oil production has led to
eternity, the Federal Reserve is taking action
growth in companies that manufacture and ser-
that prompts banks to raise the federal funds
vice parts for the industry.
rate as the economy grows. And that will al-
“When the price of oil is higher, people need more industrial space,” Frankfurt says. That growth is coming on top of an already thriving industrial sector, as even the recession and oil bust didn’t spark large number of buildings to empty.
10
That said, companies continue to flock to
most certainly drive up the price of loans. But he feels Tulsa’s strengths will more than balance that out, with employment and income expected to rise over the next 12 months. “I don’t see any real clouds on the horizon,” Ball says. •
The city of Tulsa has one of the nation’s largest concentrations of Art Deco architecture in the nation.
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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11
12
N AT I O N A L O U T L O O K
FEEL GOOD SEASON The experts agree, and the numbers support it: the economy is booming. And it’s not just the Tulsa metropolitan area or Oklahoma. The state is doing well, and so is the nation. A recent report by the Pew Research Center shows that two-thirds of Americans believe the economy is doing well, a 48-point increase since 2009. “Consumer confidence is high right now, and that’s a good sign,” says Jim Huntzinger, chief investment officer at BOK Financial. “We’re spending more money, which drives investment, and affects the overall economy. Capital expenditure is up on the business side,” Huntzinger says. “It’s sustainable, as well, for the foreseeable future. We don’t see many of the early warning signs that the economy is slipping. Next year should continue the growth.” Nationally, the unemployment rate has held steady at 3.9 percent for most of the calendar year, one of the longest stretches in recent memory. Both business and consumer spending are driving gross domestic product into a 4.2 percent growth rate. And while personal incomes are rising as well, Americans are keeping their debt in check during these up times. “Consumers have been pretty well behaved,” Huntzinger says. “People have not overleveraged themselves with credit card debt or overbuying in personal property.” As good as the national economy has grown in 2018, Oklahoma, and in particular Tulsa, has seen an even more remarkable boom.
BY STEVE HILL 13
N AT I O N A L O U T L O O K
With the lowest unemployment rate in 10 years,
Louisville, Kentucky). Of course Oklahoma City, the
Tulsa is leading the state in economic growth. The
in-state rival down the turnpike, is on that list. And
most recent numbers show Tulsa’s unemployment
how does Tulsa stack up?
at 3.6 percent, Oklahoma City booming with 3.7
“We benchmark against all these cities, and
percent and remainder of the state doing well at
we’re growing better in most areas. Tulsa’s employ-
3.9 percent. The recovery process is broad, cover-
ment is growing faster than all of them, except for
ing many industries, including sectors that haven’t
Dallas,” Ball says.
always represented well in Tulsa. The city, and Tulsa
While the growth is positive in the extreme for
Regional Chamber have targeted new industries to
Tulsa, the metropolitan area has suffered greatly
broaden the economy and bring new businesses to
in the past, especially during the downturn in the
Tulsa.
oil and gas industry. During a two-year period in
“We have target industries that we watch,”
2015-16, Tulsa lost 7,000 jobs in the manufacturing
says Bob Ball, director of economic research with
sector, and several thousand more in oil and gas,
Tulsa Regional Chamber. “And there’s good growth
the two largest industries in terms of jobs in Tulsa.
across these industries. Professional and scientific
“We’ve worked hard, and come back resiliently,
services is growing at a year-over-year rate of 9.2
not only in the recent downturn but in others in
percent in August 2018, and machinery manufac-
the past as well,” Ball says. “Employment numbers
turing is growing at a 7 percent rate.”
are dropping, and for the right reason. People who
Overall Tulsa leads the state in making goods — 55 percent of the value of manufactured products
quit looking are now taking jobs and adding to the work force.”
in Oklahoma are made in the Tulsa region. Access to interstate highways, the Port of Catoosa, a cen-
IT’S STILL ABOUT THE OIL
tral location, and a lower cost of doing business
Even though Tulsa long ago gave up its oil capi-
make Tulsa attractive for companies that build and
tal title, oil and gas is still a critical component of
ship products.
the city’s economy. The nation depends upon oil
Additionally, energy, aerospace and business
for transportation, natural gas for electric power
services are some of the other key sectors that
generation and for heating. The energy industry
Tulsa business leaders look to attract new entrants
provides high-paying jobs, develops infrastructure,
and expand the existing footprint.
and not least, it’s an enduring legacy of wealth and influence throughout the city.
TULSA’S GOOD BUSINESS SENSE
14
And the energy sector is growing thanks to
Even as good as the economy has grown,
higher oil prices. West Texas Intermediate (WTI) re-
Tulsa business leaders aren’t settling for the status
cently hit the $70 per barrel price for the first since
quo. In addition to watching target industries, and
November 2014. Natural gas offers a relatively in-
growing jobs through incentives, leaders continu-
expensive value, mostly through the huge reserves
ally compare Tulsa with “peer cities.” Those peers
and ample storage capacity. In the past two years,
include some larger cities (Dallas, Texas; Kansas
the U.S. has gone from an importer of natural gas
City, Missouri; Indianapolis, Indiana), smaller towns
to exporter through conversion of LNG facilities.
(Wichita, Kansas; Des Moines, Iowa; Springfield,
“The current oil price is at a level that has his-
Missouri), but also cities that look very close to
torically been considered to be an equilibrium
Tulsa in size and other metrics (Omaha, Nebraska;
value where both upstream and downstream seg-
ments of the industry can make money,” says Tim
and services side, such as Helmerich & Payne, T.D.
Coburn, professor of energy and operations man-
Williamson, and D&L Oil Tools. Both Schlumberger
agement in, and former director of, the School of
and BakerHughes have a significant presence in the
Energy Economics, Policy and Commerce in the
area, as well.
Collins College of Business at the University of
That intersection of manufacturing and oil and
Tulsa. “When the price of oil is at a certain level,
gas has created a key industry in Tulsa: heat ex-
both sides of the industry can make a reasonable
changers, which serves a large segment of the mid-
profit.”
stream oil and gas industry, but also reaches other
Natural gas is a booming business right now from the consumer standpoint as it’s plentiful and cheap, according to Coburn.
important industries. And the connection to oil and gas extends in other areas throughout the region. “As in the past, there are still lots of jobs avail-
For now, the price equilibrium for oil and gas is
able in the energy industry, but now it’s different
working well for everyone. It’s a rare convergence
types of jobs,” Coburn says. “There are more ser-
where energy companies are making money, but
vice-related jobs, IT is growing in the industry, ac-
costs aren’t so high to negatively affect the econ-
counting, logistics — all of these back-office jobs
omy. But, it’s well known that equilibrium can be
are in high demand.”
tricky, and oil prices are easily affected by international forces.
Ball agrees. “We have much ownership in the energy industry. And oil and gas prices have risen
Sustainable energy prices certainly are a posi-
36 percent in one year. These are good areas for
tive for Oklahoma, and it still makes an impact for
making capital investments. We’re seeing that in
Tulsa, even though the city’s energy footprint has
the jobs coming back after the downturn.”
receded from its heady oil boom days.
Still, many prospective employees in the oil and
“Tulsa is not a purely upstream oil and gas cen-
gas industry remember the down times and are re-
ter anymore, like we were decades ago,” Coburn
luctant to take these new energy-related positions.
says. “What Tulsa does have in the energy sector is
The boom and bust cycle plague the oil sector, and
significant midstream facilities, manufacturing and
while oil prices are rising, many want to avoid the
a growing part of the petroleum services sector, in
down times. College graduates looking for ener-
addition to a still-vibrant upstream sector.”
gy jobs often were forced into lower-wage jobs, or
Midstream companies are those that are re-
went back to school for advanced degrees.
sponsible for moving oil, gas and refined products
“When layoffs happened in Tulsa it puts con-
from Point A to Point B. Midstream facilities in-
siderable on the local job market,” Coburn says.
clude pipelines, processing plants for natural gas
“While some of those jobs have come back, com-
and storage tank farms. Nearby Cushing is still the
panies are running very lean. Energy companies are
largest convergence of oil pipelines in the coun-
hiring, but they are being very cautious.”
try, which is a boon for Tulsa. Coburn says nearly every U.S. midstream company has some sort
WHERE WE LIVE WORKS FOR US
of presence in Tulsa and/or Cushing, and some
Reflecting back to the mid-2000s, the housing mar-
of the largest ones like Magellan, SemGroup,
ket was both the blessing and the curse. It turned
Williams, ONEOK and NGL Partners have corpo-
out that many Americans overpaid for homes, and
rate headquarters in Tulsa. Similarly, Tulsa is home
banks were complicit in this deception. Once the
to large companies who work on the manufacturing
housing bubble burst, the American economy slid
Tulsa’s cost of doing business is one of the lowest in the nation. 15
into a deep recession, and required billions in bailN AT I O N A L O U T L O O K
outs of large banks.
All these statistics would make it seem that Tulsa is an ideal place to start a new business. Many
In 2005, home ownership was nearly 70 percent
would agree.
— the highest percentage since the Federal Reserve
“Tulsa has been rated high for young entrepre-
began tracking such numbers. After the housing
neurs and small business,” Ball says. “While Tulsa has
bubble collapsed the rate has fallen steadily to the
good services to help start-ups and entrepreneurs,
current 64 percent, a slight rise since 2015, which
the fact is that everyone has amenities. What Tulsa
also coincides with the bottom of the oil downturn.
offers is a lower-cost of doing business, 11 percent
So far, the overleveraged scenario hasn’t returned,
below the U.S. average. Add that we have a good
and current stable real estate prices combined with
standard of living, especially among our bench-
attractive interest rates have made buying a home
mark cities and Tulsa is an attractive place for new
one of the best investments for Americans.
businesses.”
“The housing market has been quite tame,”
Consider that half of small business jobs offer
Huntzinger says. “In Tulsa we didn’t have the vola-
wages higher than the national average, and that’s
tile swings in home prices that happened nationally.
rising according to a report by human resources
We mostly avoided that, and in fact, house buying
firm Paychex. It all goes back to that low housing
and construction have been moderate at best.”
cost, access to transportation corridors, a community that welcomes new ideas and supports local
SMALL BUSINESS IS BIG BUSINESS
business efforts. In turn, employees spend dollars
For all the attention that large corporations re-
on other things — goods, entertainment, travel —
ceive, the biggest driver of the economy is small
and it permeates into other areas.
business. Smaller companies employ about 53 per-
The rising income index is moving at a faster
cent of the workforce, and large corporations ac-
rate than Americans have seen in a long time. Per-
count for only 38 percent of the jobs in the U.S.
sonal incomes are estimated to be growing at 8.4
According to the U.S. Census Bureau, companies
percent annually in 2018, and next year could be
with fewer than 100 employees accounted for 98
even higher.
percent of American businesses. “Small businesses employ far more people than the big corporations,” Huntzinger says. “And right
grow at 10.6 percent,” Ball says. “This will spread across other areas, create down-the-line jobs.”
now those owners are confident in the economy,
There’s another part to this story — the growth
spending on building their operations, which in
of retail jobs, as well as leisure, entertainment and
turn makes employees more confident, and they
hospitality, especially in the Tulsa market. Higher
buy goods.”
salaries in the target industries create entry-level
Tulsa is no exception for these statistics. While
16
“We anticipate that personal income in 2019 will
jobs in these business sectors.
specific small business employment numbers for
“Years ago, people were convinced nobody
the metropolitan region are elusive, according to
would shop at a store again,” Huntzinger says.
start-up incubator 36 Degrees North, small busi-
“That’s not the case, and technology is helping, it’s
ness creates at least two-thirds of new jobs created
changing retail. U.S. businesses are very adaptive.”
in the Tulsa area. By those same reports, the small
Big-box stores have combined shopping online
business payroll for those new jobs is estimated at
with in-store pickups. Restaurants work with apps
$1.4 billion.
to deliver meals to customers that never leave their
Tulsa has among the shortest commute times in the nation based on comparable cities.
home, or talk directly to the restaurant. Grocers now offer online shopping and delivery or pickup. “While we are growing higher-wage jobs at a rapid rate, it’s interesting that the leisure and service industry jobs are growing at a yearover-year rate of 4.1 percent,” Ball says. “These can be very good jobs for a large segment of the population. It reflects that we’re growing internally, which is a very good sign for the local economy.” It appears that all part of the economy, both locally and nationally, are humming efficiently. Nothing lasts forever,
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and in our modern times it seems that forces act faster than ever before to turn a rising tide. In past good times, economists offered sage advice: save money, pay off debt, invest in long-term stocks and personal real estate. Hopefully this good run stretches for several years, but the wolf is always at the door. Economists and experts agree to look for signs of inflation, rising unemployment and interest rates because there will be another downturn. Enjoy the run. •
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18
G AT H E R I N G P L A C E
TULSA’S SHOWPLACE Gathering Place, a $450 million, 100-acre park, opened in September. In a few short months it has already transformed Tulsa.
19
G AT H E R I N G P L A C E
When Gathering Place opened Sept. 8, Tulsa’s mo-
HOW IT BEGAN
ment to shine arrived. More than 300,000 people
Kaiser didn’t envision a central gathering place out
visited the park in its first month. More than 1 mil-
of a nostalgic memory of a park. “I try to divorce
lion visits are expected by its first birthday.
my charitable investments from my life experiences
“The Tulsa community has been patiently wait-
and personal preferences,” he says. What he wants
ing for the opening of Gathering Place and right-
to do is “solve problems that reflect larger commu-
fully so, they certainly had a lot of high expecta-
nity needs.”
tions for this project,” says Executive Park Director
In 2013, Tulsa had lost the spring in its step,
Tony Moore. “And it’s for these reasons that it’s so
Stava says. The 2007 bond issue for development
gratifying yet humbling when you hear your visitors
of the Arkansas River had failed, largely because
acclaim that the park exceeded their expectations
of suburban votes. Downtown revitalization of the
and that it was well worth the wait. How cool is
Arts District and Guthrie Green had not yet begun.
that.”
It was a time of economic decline.
The park’s creation was born from the mind of
“True visionaries realize what great cities need,”
George Kaiser, the Tulsa oilman, banker and philan-
Stava says. “Great cities have great gathering plac-
thropist, whose George Kaiser Family Foundation
es.” Enter Kaiser and GKFF.
led the $450 million fundraising charge.
“Tulsa was losing its strong sense of communi-
The donors’ collective gift is the largest to a
ty,” Kaiser says. “We were more divided by geog-
municipality in the history of the United States. The
raphy, race and class than before. A large central
second biggest gift was $100 million for New York
park might heal that divide.”
City’s Central Park in 2012.
Additionally, the city needed a powerful draw
Why would Tulsans build such a costly park?
for corporate recruitment and economic develop-
The late John H. Williams, CEO of Williams Cos.,
ment to help it compete with Houston, Dallas and
summed it up when the idea was broached sever-
other metropolitan areas. Looking for solutions,
al years ago. This will be transformative for Tulsa,
Kaiser and GKFF saw the need to revitalize down-
he said.
town, especially for young singles and arts patrons,
Echoing Williams, many believe Gathering Place can change Tulsa’s national identity. “We hope that
and then marshal public-private funding to accentuate the power of the river for families.
it will help our companies recruit and retain em-
In 2014, GKFF pledged $200 million for the
ployees,” Kaiser says. “We hope it will be a place
park. Williams Cos. became the lead donor with
where all of our children and grandchildren want to
a $16 million challenge. Other corporations fol-
return as they raise their children.”
lowed, and so did the city’s famously generous
It also has the potential to be a unifying ele-
philanthropic foundations and families.
ment in the community. “What great urban parks
The City of Tulsa and Tulsa County joined with
do today is bring people out of isolation,” says
$65 million for infrastructure improvement of the
Gathering Place Executive Director Jeff Stava.
park area funded through an Improve Our Tulsa
“People have grown apart. We want to bring
and Vision 2025 sales tax extension.
Tulsans together for a better community.” Continued on p. 22
20
FUN FOR ALL
Visitors to Gathering Place will see 8 miles of paths and nature trails in a landscape planted with 5,800 trees and more than 1.2 million plants. The areas have romantic names designed for Oklahoma’s summer heat: Sky Garden with seasonal plantings to please gardeners; the Four Seasons Garden with walls of natural stone; the Wetlands Gardens with aquatic plantings; and Swing Hill, the park’s highest point, which has a variety of swings for adventure lovers of all ages and abilities. The QuikTrip Great Lawn is the center of the park. The 5-acre Chapman Adventure Playground features playground equipment and installation never before seen in the United States. The dramatic Williams Cos. Lodge, with a multi-story fireplace and floor-toceiling plate glass windows, offers views of Oklahoma’s spectacular sunsets. The contemporary ONEOK Boathouse with a pavilion roof includes a restaurant and panoramic views. The lodge and the boathouse are extraordinary, says George Kaiser, “but it may be the peaceful pocket parks and the hidden discovery areas that provide the distinguishing ambience.” Water features in the park include kayaks and paddleboats at Peggy’s Pond. Guests will keep cool at Mist Mountain, home to the Flying Fish feature and the water maze, a children’s play fountain, two of Kaiser’s personal favorites. The Adventure Playground is designed for every stage of childhood development and robust interaction with nature, from the Ramble sensory garden with labyrinths and a hedge maze to the Land of River Giants with colossal depictions of native wildlife, to the Fairyland Forest infused with fantasy. Teens and young adults will appreciate the BMX bike track and the skatepark for skateboarders. The Riverview Passage land bridge will be an unrivaled place to watch Fourth of July fireworks.
The name Tulsa comes from the Creek word tallasi, which is the shortened word for Tallahassee meaning “old town.”
21
G AT H E R I N G P L A C E
Continued from p. 20
positions and up to 250 employees during peak attendance. Proceeds from the park’s $100 million endowment will pay for all park operations, pro-
BEHOLD, GATHERING PLACE Planning for the park had begun in 2011 with community engagement and public meetings that addressed issues from design to food and drink in the park.
gramming, maintenance and security. The magic of the innovative park is its combination of place and programming. “We’re providing new places for kids to learn,” says Vice President of Programming Kirsten Hein.
The Brooklyn-based Michael Van Valkenburgh
Gathering Place’s programming ranges from large-
Associates was hired to design the park and con-
scale events for 300-plus to smaller educational
sultants included the U.S. Fish and Wildlife Service,
programs for about 20 individuals.
the Army Corps of Engineers, the City of Tulsa,
One of the more unusual features is the art to
INCOG, Tulsa County, the River Parks Authority,
be showcased in the park. “Local and internation-
a scientific team (comprised of a soil scientist, an
ally renowned artists will be a feature,” Hein says,
ecologist, a hydrologist and a sound engineer) and
“including performances not seen before in Tulsa,
an economic team of restaurant and park manage-
and all free and open to the public.” •
ment consultants. During construction of Phase 1, 1,630 construc-
22
tion jobs were filled, with 200-300 professional
Editor’s note: Parts of this story, written by Connie
trades on site on any given day. Now open, the
Cronley, originate from the January 2018 issue of
park employs about 45 full-time park management
TulsaPeople.
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24
1 2
3 4
5
6
2018 NAIOP EVENTS
www.us.jll.com/valuation-advisory
2018 NAIOP EVENTS
1 & 2: NAIOP’s January breakfast kicked off this year with development mogul and gubernatorial candidate Kevin Stitt, as guest speaker. Stitt spoke on his recent successes with his Jenks development and his mortgage companies offerings. 3: Every year the NAIOP Board travels to DC Retreat to get sharper and brighter in our advocacy efforts. This year was filled with joy as we reveled in our success with the passage of the Tax Bill, which NAIOP had a hand in passing. 4: In the summer of 2018, NAIOP hosted a meeting for all new members that joined within the last year. Cyntergy hosted the event. 5: In its second year of glamour, the NAIOP Awards Gala keep getting better. The Mayo Hotel turns green for an entire night in April and Tulsa’s best of the best gather for awards and reflection. 6: During the May Breakfast, NAIOP hosted representatives from Valley National Bank’s new downtown development project, discussing available space and its stadium effect on the commercial office market. •
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26
OFFICE OVERVIEW
MODERATE PROGRESS Despite setbacks, the office market in Tulsa maintains steady occupancy as business owners adapt to a new work landscape and reuse capabilities. Every quarter on the CBRE Midwest Office Update conference call, I have the opportunity to share positive news about the Tulsa market and to hear about any big wins, or horror stories, from my colleagues in 17 cities representing 11 states across the region. Generally speaking, about half of the markets have been “hot” over the last few years (i.e. Austin, Dallas, Denver), and the other half of the markets tend to report moderate positive absorption with a few exciting developments mixed in. Our report on Tulsa during these calls historically trends toward the latter, but that isn’t to say that we have no exciting news to report. While we don’t experience absorption (positive or negative) in the millions of square feet, we do experience a relative consistency in the Tulsa market that our neighbors in cities such as Houston might welcome with open arms at times, especially over the last 10 years or so.
BY MATT REESE, CCIM 27
OFFICE OVERVIEW
In Tulsa, the first half of 2018 saw net positive
opments and the rehabilitation or repurposing
absorption of 98,799 square feet compared to
of existing product. As we have all hoped, this
190,285 square feet in the second half of 2017.
has increased interest in working, living and
Overall vacancy of 12.9 percent was on par with
playing in our CBD and changed the opinion
the H2 2017 total of 13 percent — figures that
of the average Tulsan about being downtown.
are in line with recent historical averages. The
This trend isn’t expected to end soon as multi-
rental rate average has risen slightly to $15.28,
ple projects in the CBD are nearing completion
up from $14.69 months ago. However, this rise
or have recently been announced. In the Tulsa
is more indicative of an influx of new develop-
Arts District, the ± 101,000-square-foot Block
ment product with higher asking rates.
44 development anchored by Valley Nation-
Like many of our larger regional counter-
al Bank is reportedly 80 percent leased prior
parts, we have experienced a resurgence of
to delivery. Other new developments include
interest in our central business district due to
the Hartford Building renovation, the upcom-
significant capital expenditures on new devel-
ing Santa Fe Square development, and the
THE CATHEDRAL DISTRICT 1. 8:10 BUILDING 2. CATHEDRAL
3 E8 W8
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2
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7
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S ELGIN AVE
IT
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TO VE NA
S MAIN ST
S BOULDER AVE
E 11TH S T
COLLEGE METRO
RO
INC
OS
ST
5. TULSA COMMUNITY
ET
SC
SB
1
4. HISTORIC WAREHOUSE
SD
H 10T
6 W
CHURCH
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3. FIRST PRESBYTERIAN
4
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9
CAMPUS
6. FOOLISH THINGS COFFEE CO.
2T E1
7. HOLY FAMILY
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CATHEDRAL
8. BOSTON AVENUE E 13TH ST
8
UNITED METHODIST CHURCH
9. GUNBOAT PARK
NEIGHBORHOOD
28
recently announced Midland and NORDAM
kers, developers and owners eventually work
redevelopments.
through existing product from a redevelop-
Activity has recently spread to the periph-
ment perspective, can we finally begin to ask,
ery of the CBD in areas such as the Cathedral
“When will office rental rates increase?” There
District, which is nestled between the southern
is still existing product available, but as down-
loop of the IDL and Seventh Street. The 8:10
town continues to thrive, employment numbers
Building (previously the Avanti Building) reno-
rise and occupancy increases, we may soon see
vation was an immediate success and investors
some movement.
have taken notice. Last year, local investors
So, what are some of the emerging trends
purchased a ±90,000-square-foot portfolio of
in the office sector? One trend affecting office
six buildings in the Cathedral District. Renova-
space recently is that of the “open” or “collab-
tions of three of these buildings, including the
orative” office concept, which has been widely
Bovaird Building (renamed to Cathedral District
reported, and debated, for its merits or lack
Business Center), are in process or completed.
thereof. New research from multiple commer-
Historically, the Cathedral District has been
cial real estate outlets has been released citing
somewhat overlooked by users of office space,
challenges with the open office theory, alleging
but the tide is clearly turning in this area of
that noise and distraction from greater densi-
the CBD.
ty may be killing the collaborative spirit that
While several of these new projects will
upper management is seeking. Utilizing smart
add leasable office product to the market, it is
space planning, the right balance can be struck
important to note that over the last 10 years,
between open, collaborative areas and quiet
nearly 500,000 square feet of office space has
spaces where employees can work effectively.
been removed from the market due to the re-
Most office tenants in the Tulsa market seem
development of buildings for alternative uses,
to have captured this balance. It’s a good sign
particularly residential.
that there aren’t large blocks of newly built
According to Costar, there are nearly 40 res-
open space on the market that was construct-
idential properties existing or planned, totaling
ed with “collaborative” intent. To that end, on
1,655 units over ± 2,700,000 total square feet
our Q2 CBRE Midwest Office call previously
of downtown property. The fact that nearly 20
mentioned, the Austin, Texas, market reported
percent of that total has occurred in the last 10
a large influx of sublease space as employers
years, or will occur soon, is a telling sign that
sent employees home to work. That reduces
there is no longer just “momentum” downtown,
the employer’s immediate operating costs and
but instead there is existing, strong and sus-
ultimately their footprint, which then affects
tained demand. We should not overlook those
a market’s occupancy. We have watched the
figures from an office market perspective. As
rapid reduction in the square feet per employ-
more projects are announced that could poten-
ee ratio over the past several years. It makes
tially affect office inventory and “we” as bro-
one think — how will we analyze this ratio in
Riverside is nine miles long, running north to south from East 11th to 101st streets.
29
OFFICE OVERVIEW
30
the future, or convert it to any kind of mean-
retail/office, and sports and entertainment ven-
ingful commercial real estate data, if the ratio
ues. In Tulsa, this trend will be worth watching
cannot be accurately calculated on employee
to see if retailers continue to move out of malls
headcount? Some companies now have virtu-
and warehouse users grow vertically and shrink
ally no need for office space, yet may employ
their footprint.
dozens, or even hundreds, of employees. This
After reviewing the CBRE MarketView re-
effect has not yet fully gained footing in the
port from year-end 2008, “moderate progress”
Tulsa market, but it will be interesting to watch
seems to be the best way to describe the of-
for any trends with our regional counterparts
fice market over the last 10 years. Despite
in the future.
some glitches as numerous energy companies
Another trend worth noting is that of “adap-
turned off the lights and pulled back to larger
tive reuse,” or the process of adapting an ex-
markets in our region, the Tulsa office market
isting building for a new type of use. The idea
has mostly continued its “Little Engine That
of adaptive reuse has gained traction in major
Could” trajectory. As has been previously re-
markets as the millennial population has in-
ported, the great majority of that energy space
creased and moved into, or remained in, core
was absorbed relatively quickly, offering other
urban areas versus suburban locations. Inves-
users in the market an opportunity to upgrade
tors and owners have not only realized the de-
the quality of their space and their image. While
mand for adapted spaces, but they also have
there are Class A product opportunities in the
realized the potential financial benefits versus
market, this segment remains strong from an
new construction. Some experts have estimat-
overall occupancy standpoint.
ed this potential savings to be 15-20 percent,
Our vacancy struggles continue to be the
but many structural, mechanical, environmental
lower Class B and C properties that have yet
and municipal hurdles can present challenges
to subscribe to spending capital in advance
and ultimately raise costs.
of prospective tenant interest. Landlords who
One local example of this process, and its
have been aggressive by putting capital into
success, is the Eastland Mall conversion in east
their aging buildings have fared well for the
Tulsa to Eastgate Metroplex. This project now
most part, but with little to no aggressive in-
houses users in several industries including call
stitutional ownership in our office sector, many
centers, trade schools and administrative offic-
local owners have seemed historically content
es. However, struggling shopping malls aren’t
to wait it out. Positive employment reports
the only asset type to embrace the ideology of
are promising for all sectors and should be
adaptive reuse. Bulk industrial warehouse and
one driving force for office occupancy. Per-
big-box retail sites within urban areas also have
haps changing dynamics in Tulsa’s CBD will
undergone a transformation in many markets
help raise the tide on which all boats may
to medical facilities, office buildings, multi-use
eventually rise. •
Tulsa’s only shopping district in a recognized historic district is a stretch of East 15th Street between South Peoria and Utica avenues.
LOCAL ADVANTAGE. CBRE knows Tulsa. Through our industry leading perspectives, scale and local connectivity, we deliver outcomes that drive business and bottom-line performance for every client we serve in Tulsa. How can we help transform your real estate into real advantage? For more information contact or visit: +1 918 665 3830 cbre.us/tulsa
Your vision is our passion. For office, industrial, or construction financing, contact one of our experienced lenders. From ground breaking to ribbon cutting, we’ll be there every step of the way.
Chris Rector President
101st & Mingo | Tulsa 918-298-7232 | www.firstar-bank.com Member FDIC | Equal Opportunity Lender 31
ARCHITECTURE ENGINEERING INTEGRATED IT’S RELATIONSHIPS WE BUILD | TULSA, OKLAHOMA | CYNTERGY.COM
32
Zones Skiatook Lake
North Tulsa
Owasso
Central
Southwest Tulsa
Northeast Tulsa
West Tulsa
Midtown
South Tulsa
Northwest Tulsa
CBD
East Tulsa
Broken Arrow
Owasso
E 126th St N
E 116th St N
52nd W Ave
Sperry
Valley Park
E 98th St N
Northwest
86th St. N.
75
78th St N
Gundys Airport
Owasso
U. S
76th St. N.
66th St. N.
Dawson
75
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.
44
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
44
51
West
44
66 S. U.
44
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
33
OFFICE | SEE ZONES PAGE 33
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%
BA
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%
BA
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%
BA
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 CBD
110 N ELGIN AVE. • • • • • •
110 N Elgin Avenue
Superb Location directly across from Oneok Field Garage Parking Rooftop “In the Raw” restaurant Private balconies on each floor Exterior signage available Large common area conference room
Contact: Rick Guild 918-645-3677, www.theguildcompany.com CBD
110 N ELGIN AVE 110 N ELGIN AVE TULSA, OK 74120
THE GUILD COMPANY / RICK GUILD / 918-592-7770 15 WEST 6TH ST, SUITE 2350 TULSA, OK 74119
101,061 6 2018
20,326 30,777
$29.50 69.5%
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
24,000 69,200
$17.50 84.7%
CBD
1215 S BOULDER OFFICES
• • •
1215 S Boulder Ave
• • •
Up to 21,000± Rentable Square Feet 10,500± SF Floor Plates Free Parking and Select Executive Parking Also Available Professionally Managed with Onsite Maintenance Personnel Brand New, State of the Art Access & Security Systems Modernized and Updated Elevators - 3 Passenger and 1 Freight
• • • • •
Energy Star Rated Building Dual Electric Feeds Updated Fiber and CAT 5 Cabling Service Entry with Loading Dock Fully Sprinklered Building with Auxiliary Pump
Contact: CBRE, Inc. / Dwayne Flynn / 918-665-3830
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
217,200 12 1954
10,500 21,000
$12.50 90.3%
CBD
201 EXECUTIVE CENTER 201 W 5TH ST TULSA, OK 74103
PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 E 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
2,400 119,000 0
$16 69.3%
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 30,534 0
$19 97.3%
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%
NOTE EXPANDED LISTING
34
PROJECT NAME ADDRESS CITY / STATE / ZIP
CBD
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
CATHEDRAL DISTRICT BUSINESS CENTER
SIZE (RSF) FLOORS YEAR BUILT
• • • • • •
823 S Detroit
CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE
GROSS RENTAL RATE % LEASED
New Roof & Exterior and Lobby Renovation Suites 200, 300 & 400 - ±14,000 SF Floor Plates Suite 400 - Creative open space with concrete ceilings Plug & Play - Systems furniture in place Basement Storage and Meeting Areas Covered and Surface Parking
Contact: Bob Pielsticker 918-392-7268, www.cbre.com
CBD
CBD
CATHEDRAL DISTRICT BUSINESS CENTER 823 S. DETROIT AVE. TULSA, OK 74120
CBRE, INC. / BOB PIELSTICKER / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
CATHEDRAL DISTRICT BUSINESS CENTER
64,996 4 1959 • • • • • • • •
818 S Detroit
13,982 41,942
$14.50 35.5%
Fully Renovated Warehouse Converted Office Space New Local Ownership ±9,787 SF Total South Bay: ±3,928 SF, 16’ Ceilings North Bay: ±5,472 SF, 14’ Ceilings 31 Surface Parking Spaces New Storefront Glass Individual Street Facing Suite Entries with Signage
Contact: Bob Pielsticker 918-392-7268, www.cbre.com CBD
CBD
CATHEDRAL DISTRICT BUSINESS CENTER 818 S. DETROIT AVE. TULSA, OK 74120
CBRE, INC. / BOB PIELSTICKER / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
CATHEDRAL DISTRICT BUSINESS CENTER
9,787 4 1959 • • • • • • •
220 E 8th Street
3,928 9,400
$15.00 4.0%
Single tenant creative downtown office space New Local Ownership 16’ clear height ±20,001 SF Total 61 Surface Parking Spaces Individual Street Facing Suite Entry with Signage $15 psf triple net
Contact: Bob Pielsticker 918-392-7268, www.cbre.com CATHEDRAL DISTRICT BUSINESS CENTER 220 EAST 8TH ST TULSA, OK 74120
CBRE, INC. / BOB PIELSTICKER / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
20,001 1 1933
20,001
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
101,761 163,774 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 47,682 0
$18.50 85.2%
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
750,000 15 2001
48,073 96,146 0
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
5,000 81,683
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
$15.00 0%
100% $18 87.2%
82.0%
NOTE EXPANDED LISTING
35
OFFICE | SEE ZONES PAGE 33
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
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
33,000 50,593
$16 69.4%
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 26, 058 0
$16 74.5%
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%
CENTRAL
36
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
53,522 4 1980
9,492 14,109 0
$12.50 73.6%
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
TECHRIDGE OFFICE PARK / COMANCHE 4115 S 100TH E AVE TULSA, OK 74146
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
56,551 2 1979
0 0 0
$12.50 100%
CENTRAL
TECHRIDGE OFFICE PARK / GRANT 4110 S 100TH E AVE TULSA, OK 74146
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
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
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S SHERIDAN, SUITE 201 TULSA, OK 74145
58,835 2 1982
47,072 30,437 0
$12.50 48.3%
EAST
4500 EXCHANGE TOWER 4500 S GARNETT TULSA, OK 74146
PARADIGM REALTY ADVISORS / CARRIE CLAIBORRNE 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 HEADQUARTERS 12222 STATE FARM BLVD TULSA, OK 74146
CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
287,580 2 1989
287,580 287,580
$15.00 0.0%
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 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%
EAST
TOWNE CENTRE 10810-20-30 E 45TH ST TULSA, OK 74146
PARADIGM REALTY ADVISORS / CARRIE CLAIBORRNE 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%
EAST
MIDTOWN 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%
NOTE EXPANDED LISTING
37
OFFICE | SEE ZONES PAGE 33
38
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
21 LEWIS PLAZA 2424 E 21ST ST TULSA, OK 74114
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400
61,443 5 1967
5,600 9,970 0
$21.00 83.8%
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
6201 E 43RD ST 6201 E 43RD ST TULSA, OK 74135
CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
108,230 1 1965
108,230 108,230
$3.65 0.0%
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
8,296 13,957 6,911
$17.00 97.3%
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
38,089 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 E 41ST TULSA, OK 74135
PARADIGM REALTY ADVISORS / CARRIE CLAIBORNE / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146
93,735 10 1981
9,735 18,381 0
$14 80.4%
MIDTOWN
CORPORATE PLACE 5800 E SKELLY DR TULSA, OK 74135
PARADIGM REALTY ADVISORS / CARRIE CLAIBORNE / 918-665-1900 4500 S GARNETT, SUITE 600, TULSA, OK 74146
117,384 13 1973
2,747 11,206 0
$14 90.5%
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
7,930 25,817 1,172
$11.50 70.6%
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 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%
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
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 16,062 0
$12.00 75.8%
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
5,700 7,680 0
$16 93.3%
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 / 918-610-0700 4111 S DARLINGTON, SUITE 640, TULSA, OK 74135
140,825 10 1983
19,000 19,000 0
$16.50 86.5%
MIDTOWN
MERIDIAN TOWER 5100 E SKELLY DR TULSA, OK 74135
WIGGIN PROPERTIES, LLC / VICKI PATTERSON / 918-582-8100 5100 E. SKELLY DR 7410374135
205,891 10 1981
13,715 16,567 0
$21.50 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
3,651 9,636 0
$14.50 79.4%
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
2,707 2,707 0
$13.50 94.8%
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
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%
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%
NOTE EXPANDED LISTING
39
OFFICE | SEE ZONES PAGE 33
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
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 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
860,000 2 1985
145,994 366,345 0
$13 57.8%
CBRE, INC. / DAVID GLASGOW / 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%
NORTHEAST NE
GREEN VALLEY CENTER 11333 E PINE ST TULSA, OK 74116
OWASSO OWASSO
FIRST BANK CENTER 8601 N GARNETT ROAD OWASSO, OK 74055
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%
OWASSO
VILLAGE OFFICE 8551 N 125TH AVE OWASSO, OK 74055
OWASSSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
19,700 2 2004
2,772 2,772 0
$17 85.9%
SOUTH SOUTH
51 YALE BUILDING 5110 S YALE TULSA, OK 74135
PARADIGM REALTY ADVISORS / CARRIE CLAIBORNE / 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 6846 S. CANTON AVE., SUITE 250 TULSA, OK 74136
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 / MATT MARDIS / 918-481-5380 5810 E. SKELLY DR, SUITE 1900 TULSA, OK 74135
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
2,277 6,705 0
$12 91.8%
SOUTH
AUTUMN OAKS 6846 S CANTON TULSA, OK 74136
NAI RUPE HELMER, LLC / MATT SURRETT / 918-745-1133 6846 S. CANTON AVE., SUITE 250 TULSA, OK 74136
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
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
739 0 0
$14.50 100%
SOUTH
BRADFORD PLACE 9175 S YALE TULSA, OK 74137
NAI RUPE HELMER, LLC / PAM AVISON / 918-745-1133 6846 S. CANTON AVE., SUITE 250 TULSA, OK 74136
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%
NOTE EXPANDED LISTING
40
100%
PROJECT NAME ADDRESS CITY / STATE / ZIP
SOUTH
BRIDGEPORT III 6450 S LEWIS TULSA, OK 74136
SOUTH
CENTRAL BANK BUILDING 8908 S YALE AVE TULSA, OK 74137
SOUTH
CITYPLEX TOWERS
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648
SIZE (RSF) FLOORS YEAR BUILT
CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE
GROSS RENTAL RATE % LEASED
48,499 3 1986
4,462 8,210 0
$14.50 83.1%
53,177 24 1984/1995
2,466 2,466 0
$19 95.4%
• 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
TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / MICHAEL PREDOVIC / 918-493-8888 2448 EAST 81ST, SUITE 188, TULSA, OK 74137
1,549,172 60 1981
88,850 606,242 0
$14-15 60.9%
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
TULSAPROPERTIES.COM, LLC / RANDOLPH PHILLIPS / 918-743-7788 P O BOX 52611
43,446 2 1985
11,854 14,373 0
$11 66.9%
SOUTH
EXECUTIVE CENTER I & II
• • • • • • •
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%
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
3,449 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%
NOTE EXPANDED LISTING
41
OFFICE | SEE ZONES PAGE 33
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
GRACE BUSINESS CENTER 6218 S LEWIS AVE 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
5,433 5,433
$13.50 78.7%
SOUTH
HILLCREST SOUTH 8803 S 101ST E AVE TULSA, OK 74133
CBRE, INC. / MATT REESE / 918-665-3830 1401 S BOULDER AVE, SUITE 100 TULSA, OK 74119-3648
122,752 3 1999
10,476 19,273
$20.00 84.3%
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 10,158
$16 83.9%
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
2,295 11,786 0
$12 64.1%
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
0
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
$13 100%
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 1984
1,928 1,928 0
$8.25 92.9%
SOUTH
MIDFIRST BANK PLAZA 7050 S YALE TULSA, OK 74136
PARADIGM REALTY ADVISORS / CARRIE CLAIBORNE / 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
2,387 3,583 0
$12 90%
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
14,497 33,268 0
$16.50 62.5%
SOUTH
OXFORD PLACE
• • • • • •
6600 & 6666 S Sheridan
$13.50 100%
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
NOTE EXPANDED LISTING
42
CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135
110,020 11 1981
5,000 13,000 0
$17 88.2%
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
0 0 0
$16 100%
SOUTH
RICH & CARTMILL BUILDING 2738 E 51ST TULSA, OK 74105
COATES COMMERCIAL PROPERTIES, LLC / PATRICK COATES, CCIM / 918-610-0700 4111 S. DARLINGTON, STE 640, TULSA, OK 74135
45,683 4 1985
1,656 1,656 0
$15.50 96.4%
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
CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135
166,332 11 1983
15,000 35,000 0
$21.50 79.0%
SOUTH
RIVERBRIDGE OFFICE PARK 1323 E 71ST TULSA, OK 74136
PARADIGM REALTY ADVISORS / CARRIE CLAIBORNE / 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
9,529 27,222 0
$10.50 59.1%
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
14,000 30,000 0
$21 80.2%
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
43
OFFICE | SEE ZONES PAGE 33
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
THREE MEMORIAL PLACE 7615 E 63RD PL TULSA, OK 74133
PARADIGM REALTY ADVISORS / CARRIE CLAIBORNE / 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
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
146,945 6 1982
15,407 58,786
$16.50 60.0%
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
87,000 105,582 0
$15 30.1%
SOUTH
TWO MEMORIAL PLACE 8023 E 63RD PL TULSA, OK 74133
PARADIGM REALTY ADVISORS / CARRIE CLAIBORNE / 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
MCKOY COMPANY / KELLY MCKOY / 918-491-9267 6100 S. YALE AVE, SUITE 390 TULSA, OK 74136
470,025 20 1983
23,294 89,953 71,582
$24.50 80.9%
SOUTH
WARREN PLACE TWO 6120 S YALE TULSA, OK 74136
MCKOY COMPANY / KELLY MCKOY / 918-491-9267 6100 S. YALE AVE, SUITE 390 TULSA, OK 74136
489,870 19 1986
26,275 36,807
$24.50 92.5%
SOUTH
WATERFORD PLAZA 9108 S SHERIDAN TULSA, OK 74133
PAINE & ASSOCIATES / GARRETT MAHANEY / 918-481-5380 5810 E SKELLY DR, SUITE 1900 TULSA, OK 74135
28,883 1 2007
8,993 11,193 0
$15 61.2%
SOUTH
YORKTOWN PLAZA 2087 E 71ST ST, 2ND FLOOR TULSA, OK 74136
CBRE, INC. / JULIE EDWARDS / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
56,000 12
56,000 56,000
0.0%
SOUTH
BRIDGEPORT OFFICE PARK 6400 S LEWIS AVE TULSA, OK 74136
DLRE, INC. / DANNY OVERTON / 918-895-6700 3015 E. SKELLY DR., STE.410 TULSA, OK 74105
36,000 2 1982
14,000 1,000
$12.50 97.2%
SOUTHWEST SW
FIRST OKLAHOMA BANK BUILDING 100 S RIVERFRONT DR JENKS, OK 74037
WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137
58,000 6 2014
0 0 0
$22 100%
SW
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
44
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45
NAIOP 2018 NAIOP Oklahoma Members
DICK ALABACK McGraw Commercial Properties
DAVID BENDEL Siegfried Companies Inc.
JOSH CHESNEY Cyntergy AEC
NATHAN ELLSWORTH Ellsworth Contraction
BRIAN L. HUMPHREY First Pryority Bank
GRANT ALLEN HUB International
PAM BEWLEY Commercial Title & Escrow Services Inc.
MEGAN CHINOWTH, NCIDQ GH2 Architects
TANDA FRANCIS Price Edwards & Co.
BRIAN HUNT, CCIM Cherokee Nation Businesses
HANNAH M. ALTOM Corporate Realty Advisors LLC
ROSS BISHOP Grand Bank
AARON A. GADDY Claymore Group LLC
COLLIER IMGRUND Newmark Grubb Levy Strange Beffort
OWEN ARD, MAI JLL Valuation & Advisory Services
RACHEL BLANKENSHIP Secure Title & Escrow LLC
STEVE GANZKOW American Residential
CARA LEIGH INGRAM McGraw Commercial Properties
DILON ARGO McGraw Commercial Properties
LISA BRANDES, RPA McGraw Commercial Properties
BLAKE GOSSETT RECO Enterprises
TIM JAMES Crossfirst Bank
DREW ARY Keller Williams Realty
SUSAN BUCK Flintco LLC
JOHN GRAY McGraw Commercial Properties
WILLIAM B. JONES PrayWalker
DAVID E. ATKINSON One Property Management
CHRIS J. BUMGARNER Bumgarner Asset Management
RICK GUILD Guild Company LLC
CRYSTAL KELLER Crystal Keller Consulting LLC
DEREK J. BATEMAN Trinity Corporate Real Estate Advisors LLC
BO BYERS Byers Company
RETA HALLAM LDKerns Contractors
JASON M. KENNON, CCIM Case & Associates
JOSEPH HARDZOG American Heritage Bank
DAVE KOLLMANN Flintco LLC
ZACHARY HARRIS Stan Johnson Company
GARY KRISMAN McGraw Commercial Properties
BRIAN BEAM Owasso Land Trust
WILLIAM P. BEICHLER, CCIM McGraw Commercial Properties
46
JARED L. CABLE First National Bank & Trust
CHRISTOPHER CARTER Shareholder Hall Estill
JACOB M. CLAYMAN CBRE
STEPHANIE CLIFF HUB International
DAVID COBB Terracon Consultants Inc.
ANDREW K. COFFEY Arvest Bank
KEVIN COULTER Kevin Avery Coulter
NEIL T. DAILEY McGraw Commercial Properties
ANDREW D. DOSSEY McGraw
JAY DYER Arvest Bank
ALEX LEIKAM Bank of Oklahoma N.A.
JOE NEAL Price Family Properties
KRISTI RADEBAUGH Larco Properties LLC
ROBERT K LEIKAM American Residential Group LLC
BRADY NGUYEN Capital Insurance Partners LLC.
ERIC RALSTON Crossfirst Bank
MIKE LESTER Newmark Grubb Levy Strange Beffort
ALICIA J. NOLEN GBR Properties
CHRIS RECTOR Firstar Bank
KIMBERLY LEWIS FirsTitle & Abstract Services LLC
CRAIG O’CONNOR HUB International
CASSIE REESE Crossland Construction
NICHOLAS LOMBARDI Frisbie Lombardi Commercial Real Estate Services
THOMAS P. O’KEEFE INTRUST Bank
DANIEL REGAN Price Family Properties
CHAD OSGOOD Highgate General Contractors Inc.
ERIN RENFROW Roofing Life
DANNY OVERTON DLRE Inc.
WILLIAM RICHERT Richert Properties Inc.
BOB PARKER Owasso Land Trust
DAVIS ROBSON Robson Companies
GENE PHILLIPS, P.E. Wallace Engineering
JOE ROBSON The Robson Companies Inc.
BOB PIELSTICKER, SIOR CBRE
JOSHUA D. ROBY Grand Bank
ALEXANDER J. POWELL CBRE
PATRICK ROONEY First National Bank of Oklahoma
NICK PROBST, CCIM Corporate Realty Advisors LLC
HUNT ROSE Stan Johnson Company
STEPHANIE D. PUTZKE Cyntergy AEC
MIKE SCHAUF II Custom Cleaning
DAVID LOONEY McGraw Commercial Properties
RONALD S. LOONEY BLR Properties Inc.
RYAN LYNCH Bank2
MICHAEL G. MAHANEY Paine & Associates LLC
MATTHEW C. MARDIS Paine & Associates LLC
RYAN MCDANIEL Blue Sky Bank
BILL MILLER BancFirst Tulsa
SCOTT MORGAN Coury Properties
TAMIE SEMLER Secure Title & Escrow LLC
CAITLIN D. SHORES W/S Commercial
KARA SMITH Rupe Helmer Group
LAUREN SMITH Valley National Bank
JOEY SNYDER First Fidelity Bank
ASHLEY L. STEPHENSON WorkSpace Resource Inc.
DAVID STEWART Mid-America Industrial Park
ALAN TAYLOR Wallace Engineering
MATT THOMPSON Thompson Construction Inc.
BRIEN THORSTENBERG Tulsa Regional Chamber
JASON TING Ting Realty
CAREY VELEZ McGraw Commercial Properties
CARL VINCENT Ruffin Properties
STEVEN WATTS Addax Development
KENNETH WEBB Blackshare Environmental Solutions
CAREY WEDDLE American Heritage Bank
LUKE WESTERFIELD Tulsa Property Group LLC
KELLY WIECZOREK Larco Properties LLC
MATT WILKINSON Mabrey Bank
DEBRA WIMPEE Oklahoma Chapter, NAIOP
LARRY E. WOFFORD The University of Tulsa
ALICIA WOHL GH2 Architects
CRAIG TOMLINSON, SIOR Stan Johnson Company
CAITIE-BETH TRUITT Truco Development
47
48
R E TA I L O V E R V I E W
HIGH TIMES FOR 2019? Several factors contribute to an optimistic outlook for the retail sector. As we moved through 2017 and into 2018 key retail indicators continued to improve significantly. Consumer confidence rose and currently is at an 11-year high. Employment and job security is as high as they have been in decades. Inflation remained in check while interest rates remained tenable. Banking and lending regulations also have eased and, generally, overall retail and restaurant sales year over year have seen positive growth after years of flat or declining numbers.
BY STEVE WALMAN 49
R E TA I L O V E R V I E W
According to the Q1 CBRE retail report, total
Regionally, including primary markets in larg-
metro retail sales are forecasted to reach $11.3
er cities, there seems to have been a long lag
billion in 2018, reflecting a 4.1 percent increase
between these positive signals of a strength-
over last year. These factors would all contrib-
ening retail rebound and the actual activity on
ute to optimism for the near future of the retail
the ground, especially in certain sectors such as
environment. However,
soft goods and specialty during
the
stores. In our market over
same time several nation-
the past six months, if you
al tenants such as Toys R
remove the recent 10,000
Us, Sears, Fresh Market,
calls for medical marijua-
Macy’s, JC Penney and Applebee’s, among a growing list of others, are contracting
and/or
closing
stores regionally or nationwide. Generally, this has elicited the ongoing concern that brick-and-mortar retail may be on the decline. This impression has filtered into local and regional retailers fearing that e-commerce marks the end of, or significantly impacts, their ability to compete in the
Based on current market conditions, and if retailers continue to see sales improve within the market, the next year should see an uptick in overall activity.
stores,
general
market
activity in Tulsa has been rather anemic. While there have been spikes here and there, activity has not been consistent or of a particularly high overall quality. Except for some of the newer infill or Class A properties which have initially commanded rents in the high $20’s and $30’s, overall rents particularly in Class B and C properties
marketplace. Additionally,
have
the fact that most retailers
ly stagnant and creative
also have been grinding
deal structures and induce-
through the past several
ments continue to be nec-
remained
relative-
years with lackluster sales, creates a more con-
essary to appeal to established retailers and
servative and cautious expansion strategy even
even for “gun shy” local retailers and startups.
as we experience a stronger economy.
50
na dispensaries and CBD
RETAIL MARKET
effects will be more impactful from a national
Although the general impression seems to be
standpoint rather than locally since several re-
that brick-and-mortar retail might be on its
tailers closing their doors are not in our market
death bed, it is my opinion that this is an in-
and those that are have already exited, such as
accurate assumption of the future of the shop-
Sears and Kmart.
ping center industry. Retail continually evolves. E-sales are being incorporated into brick-and-
DEVELOPMENT
mortar concepts on local, regional and nation-
Although several national developers continue
al levels and store sizes and store counts are
to work on larger retail projects on the west
being made more efficient to account for it.
side of Tulsa, Broken Arrow and other peripher-
Conversely, we see e-retailers moving toward
al trade areas, they are completely tenant-driv-
incorporating brick-and-mortar stores into their
en and require strong pre-commitments and
concepts as customers seek the benefits of
credit in order to proceed. Coupled with the
what physical stores provide.
current decline in interest from the secondary
According to Shopping Centers Today,
market, such as institutional investors in what
e-sales represents only 5.2 percent of total re-
they consider smaller and riskier markets, larg-
tail sales. Brick-and-mortar accounts for 90.1
er projects may be slower in coming on line in
percent of those sales. When it is reported that
the near future as exit strategies are impacted.
e-sales are up 30 percent, that is only relative
Smaller in-fill projects are still active, and
to their 5.2 percent of the market share, not of
although they also require the same amount of
total retail sales. That statistic alone provides
focus on pre-leasing and overall credit. If posi-
some perspective on the future of retail.
tioned well within a strong sub-market, these
Will there be a hybridization of both points
appeal not only to tenants, but also to a larg-
of sale? Definitely. It’s happening now. Will one
er local and regional investment base. These
usurp the other? Highly doubtful. A more likely
centers can capitalize on the stronger restau-
outcome is that efficiencies in store sizes, cus-
rant and service sectors that can provide some
tomer interactions and service will eventually
insulation against some of the slower retail
provide an overall better and more rounded
categories — especially since the list of food
experience for the shopper.
and small tenant users typically is much more
Unfortunately, the transition will be ugly as stores close in non-performing markets or
robust and will pay the higher rents that are required.
resize their prototypes creating large chunks
Currently there are a lot of out-of-state buy-
of vacancy across the country. Hopefully thhe
ers interested in value-added shopping cen-
The corner of East 15th Street and South Peoria Avenue became the location for the city’s first suburban traffic light.
51
R E TA I L O V E R V I E W
ters that can be redeveloped. The ability to
fitness, a full-service gym, will be backfilling the
buy higher cap rate assets compared to larger
57,000-square-foot Albertson’s on the south-
markets is appealing although even then the
west corner of East 51st Street and South Me-
analytics these buyers employ is rather conser-
morial Drive. QSR and fast food concepts such
vative as the relationship between upside, risk
as Chipotle, Panera Bread, Captain D’s, Raising
and capital deployment are weighted strongly
Cane’s, Del Taco, Dunkin Donuts and Tropical
in accordance with current market conditions.
Smoothie are among a long list that continue to consider entry into the market or expan-
TRANSACTIONS: LEASING AND SALES
sion of their market coverage. Urban Adven-
There has not been any data on 2018 sale trans-
tures, an activity-based entertainment venue,
actions of any significant retail properties be-
is backfilling the vacated Reasor’s anchor space
sides several small, older unanchored centers.
at Country Club Plaza at the southeast corner
Crossing Oaks sold last year and the develop-
of East 51st Street and South Harvard Avenue.
ers continue to complete the redevelopment
52
of this center on the southwest corner of East
EXPECTATIONS FOR 2018 AND 2019
71st Street and South Memorial Drive, with the
Based on current market conditions, and if re-
addition of Winco, new shop space and the re-
tailers continue to see sales improve within the
positioning of the Ross Dress For Less store.
market, the next year should see an uptick in
Tulsa Hills, the 700,000-square-foot center at
overall activity. As businesses rebound finan-
Highway 75 and West 71st Street owned by
cially and capital becomes more accessible,
Inland American Retail Trust, recently sold for
the opportunities for retailers and restaurants
a reported $70 million to RD Investments, a
to reposition or expand should increase. With
Dallas investment group.
these conditions the old adage “grow or die”
Several grocery stores and retailers have
becomes more applicable and the expectation
added stores or are seeking expansion within
that a more conservative but healthier demand
the Tulsa MSA.
will create a more active retail environment.
In the grocery store sector, Winco, Aldi and
New, larger developments will probably be
Sprouts continue to look for coverage. Burl-
slower to come on line. Infill developments and
ington, Home Goods, Five Below, Dollar Tree
free-standing build-to-suit opportunities will
and several players in the fitness sector are
continue at a faster pace. In spite of national
entering or expanding within the MSA. VASA
tenant bankruptcies and anticipated on-going
Tulsa is the birthplace of the iconic Route 66 highway that originally ran from Chicago, Illinois, to Santa Monica, California.
HUNGRY FOR TRAFFIC? closures
and
realignments,
our market may not be directly exposed to this volatility as many of these retailers are not in the market or have already closed. National retailers are still interested in Tulsa and if larger developments can get out of the ground there is demand. If investors become more interested in secondary markets then developers can be expected to bring more
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it may be a bumpy ride, but a healthier and more creative brick-and-mortar inventory may be the result. So as always, we remain cautious but optimistic. There are encouraging signs that the local retail market may continue to improve and offer opportunities for retailers, developers and landlords alike during the foreseeable near future even if currently, conditions are tempered by the factors referenced herein. •
53
RETAIL | SEE ZONES PAGE 33
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
BA
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
BA
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
BA
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
BA
COUNTY LINE SHOPPING CENTER 1005-1205 E KENOSHA BROKEN ARROW, OK 74012
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
64,828 93.9% 1979
1,311 2,617 3,928
$10 $10 $1.35
BA
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 61.9% 2006
1,200 2,943 9,847
$16 $17.50 $4.99
BA
KENOSHA CROSSING 1208 E. KENOSHA BROKEN ARROW, OK 74012
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
20,000 79.9% 1998
1,401 2,615 4,016
$15
BA
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 94.3% 1985
100 1,306 2,679
$9 $8 $1.44
BA
MANCHESTER SQUARE PROFESSIONAL BUILDING 1757 N. ASPEN, BROKEN ARROW, OK 74012
SAMSON COMMERCIAL REAL ESTATE SERVICES / MIKE LESTER / 918-284-0700 1645 S. 101ST. E. AVE., STE. 101, TULSA, OK 74128
20,419 91.0% 2008
1,847 1,847 1,847
$20 $20
BA
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
BA
PLAZA DEL SOL
$1.54
• 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 BA
PLAZA DEL SOL 9999 S MINGO RD TULSA, OK 74133
CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135
46,500 96.6% 2008
1,600 1,600 1,600
$18 $18 $4.50
BA
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 92.0% 1981
800 3,200 4,000
$9 $9 $1.38
BA
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
0 0 0
$16
BA
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
$15 $4.50
BA
SHOPS AT LYNN LANE 1700 N 9TH ST BROKEN ARROW, OK 74012
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
24,630 90.3% 2008
2,400 2,400 2,400
$20 $20 $1.50
BA
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
BA
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
48,827 62.1% 2007
1,500 10,000 18,500
$16 $12 $2.50
BA
TOWNE CENTER PHASE I* 101ST & ELM PL BROKEN ARROW, OK 74011
GBR PROPERTIES, INC. / ALICIA NOLEN / 918-493-2525 3114 E. 81ST STREET TULSA, OK 74137
28,450 85.1% 1984
702 2,562 4,239
$8.50 $8.50 $3.84
BA
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 96.5% 1985
100 1,248 1,248
$8.50 $8 $1.47
NOTE EXPANDED LISTING
54
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
BA
VANDEVER ACRES* 732 W NEW ORLEANS ST BROKEN ARROW, OK 74011
GBR PROPERTIES, INC. / ALICIA NOLEN / 918-493-2525 3114 E. 81ST STREET TULSA, OK 74137
79,542 82.5% 1984
2,000 4,005 13,905
$12 $12
BA
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
BA
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
$5
BA
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
BA
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
$8
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
77,254 87.5% 1972/2014
1,200 3,415 9,624
$25 $20 $3.50
$0.55
CBD CBD
CENTRAL CENTRAL
1700 YALE MALL 1649 S YALE AVE TULSA, OK 74112
CENTRAL
401 SOUTH UTICA 401 S UTICA TULSA , OK 74104
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
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
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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 94.7% 1969
720 800 1,500
$6.50 $8 $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 63.0% 1985
1,500 4,946 10,246
$8 $12
$0.50
NOTE EXPANDED LISTING
55
RETAIL | SEE ZONES PAGE 33
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
BRIARGLEN SQUARE SHOPPING CENTER 31ST & 129TH, S/E C TULSA, OK 74134
GBR PROPERTIES, INC. / ALICIA NOLEN / 918-493-2525 3114 E. 81ST STREET TULSA, OK 74137
32,361 92.2% 1984
2,523 2,523 2,523
$7 $7 $3.10
EAST
CROSSBOW CENTER REDEVELOPMENT 41ST & GARNETT, N/W C TULSA, OK 74146
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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
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
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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
EAST
$9 $4.50 $0.40
MIDTOWN MIDTOWN
21ST & YALE FORMER SEARS 21ST & YALE TULSA , OK 74112
WALMAN COMMERCIAL / JUSTIN BROWN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
18,000 -900%
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
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
180,000
NOTE EXPANDED LISTING
56
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
MIDTOWN
HARVARD SHOPS 3215 S. HARVARD AVE. TULSA, OK 74135
GBR PROPERTIES, INC. / ALICIA NOLEN / 918-493-2525 3114 E. 81ST STREET TULSA, OK 74137
20,587 90.3% 1955
731 1,269 2,000
$10 $10 $0.27
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
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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 93.6% 1967
3,400 6,123 9,523
$9 $5 $0
MIDTOWN
SHERIDAN COMMERCIAL CENTER 4307-4319 S SHERIDAN RD TULSA, OK 74145
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
21,990 100.0% 1973
0 0 0
$12 $12
MIDTOWN
SOUTHROADS SHOPPING CENTER 4945 E 41ST ST TULSA, OK 74135
CBRE, INC. / CBRE OKC / 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
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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
40,010 100.0% 1989
0 0 0
$12.50 $12.50 $0
MIDTOWN
TULSA PROMENADE MALL 4101 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 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
HELMERICH & PAYNE PROPERTIES / JESSICA BARR / 918-742-5531 1437 S. BOULDER AVE, STE 1400, TULSA, OK 74119
397,545 100.0% 1952/1986
0 0 0
$30 $25 $3.81
$2.85
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 99.1% 1972
800 800 800
$10.25 $7 $1.34
NOTE EXPANDED LISTING
57
RETAIL | SEE ZONES PAGE 33
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
MID AMERICA REALTY, INC / GEORGE O’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
NORTHEAST NE
NE
CATOOSA SHOPPING CENTER 2400 N HIGHWAY 66 CATOOSA, OK 74015 CHEROKEE SPRINGS PLAZA
• Anchored by new Cherokee Casino & Convention Center Tahlequah • 1,800 to 7,200 SF available • Extensive landscaping and streetscaping • Newk’s Eatery opening on north end of retail center • Shell spaces can be custom finished • Prime location near Cherokee Springs Golf Club
3377 Cherokee Springs Rd Tahlequah, OK 74464
Contact: Brian Hunt, Cherokee Nation Property Management, 918.439.6546 NE
NE
CHEROKEE SPRINGS PLAZA 3377 CHEROKEE SPRINGS RD TAHLEQUAH, OK 74464
CHEROKEE NATION BUSINESSES / BRIAN HUNT / 918-439-6546 777 W. CHEROKEE ST, CATOOSA, OK 74015
21,600 0.0% 2018
1,400 7,200 21,600
$20
ROLLING HILLS SHOPPING CENTER 19220 E ADMIRAL CATOOSA, OK 74015
FITE & REYNOLDS REAL ESTATE / HAYNES REYNOLDS / 918-683-7784 1805 N YORK ST., STE B, MUSKOGEE, OK 74403
40,000 65.7%
465 12,500 13,715
$8 $12 $1.16
GILCREASE HILLS CENTER 2301-2323 W EDISON TULSA, OK 74127
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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 79.4% 1957/1986
1,222 12,597 21,073
$12 $12 $1.98
$2.25
NORTHWEST NW
NW
OWASSO OWASSO
ATOR CENTER 9100 N. GARNETT OWASSO, OK 74055
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
34,850 100.0% 1991
0 0 0
$16 $14 $0
OWASSO
FAIRWAY MARKET I/II 9540 N. GARNETT OWASSO, OK 74055
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
30,535 88.5% 2006/2015
1,500 2,000 3,500
$18 $18 $4
OWASSO
GARRETT CREEK 11560 N 135TH E AVE OWASSO, OK 74055
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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. / JULIE BROWN / 918-688-3830 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 94.8% 1988/2004
1,620 4,000 5,620
$11.50 $8 $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
31,025 100.0% 1999
0 0 0
$11.50 $8 $2.25
OWASSO
OWASSO LAND BUILDING I/II 12140 / 12150 E. 96TH ST. N. OWASSO, OK 74055
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
44,396 100.0% 2002
0 0 0
$20 $18 $4
OWASSO
OWASSO TOWN CENTER 12912 E 86 ST N OWASSO, OK 74055
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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 / CANDICE SWIM / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
22,894 73.3% 1999
2,112 4,000 6,112
$15 $15 $1.52
OWASSO
SMITH FARM MARKETPLACE, PHASE I & II 9002 N 121ST AVE OWASSO, OK 74055
CBRE, INC. / CBRE OKC / 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
NOTE EXPANDED LISTING
58
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
OWASSO
THREE LAKES CENTER 11610-11650 E. 86TH ST. N. OWASSO, OK 74055
BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
48,130 92.5% 1980
1,200 3,600 3,600
$10.50 $10.50 $0
OWASSO
TYANN PLAZA SHOPPING CENTER 96TH ST N & HIGHWAY 169 SEC OWASSO, OK 74055
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
67,954 82.3% 2005
3,000 12,000 12,000
$18 $12 $1.95
OWASSO
WATERFORD PLAZA 9500 / 9530 N. 129TH E. AVE. OWASSO, OK 74055
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
49,506 92.7% 2004
619 3,006 3,625
$20 $20 $4.30
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
1,150 1,641 5,300
$10 $13
SOUTH
4101-4169 S YALE AVE 4101-4169 S YALE AVE TULSA, OK 74135
984,484 100.0% 1986
33,358
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 96.6% 1979
1,250 1,400 1,650
$6.50 $8 $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 73.6% 1972
1,767 4,850 13,483
$16 $18 $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 $1.80
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
WALMAN COMMERCIAL / JUSTIN BROWN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
208,496 78.1% 1984
779 13,910 45,603
$14 $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
$2.62
$2.25
NOTE EXPANDED LISTING
59
RETAIL | SEE ZONES PAGE 33
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
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 90.6% 1983
1,261 1,793 3,054
$12 $10 $1.15
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 61.4% 2015
2,800 30,000 32,800
SOUTH
HEATHERRIDGE 6518-6556 E 91ST ST TULSA, OK 74133
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
34,193 100.0% 1981
0 0 0
$16
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 90.3% 2005
1,920 2,320 4,240
$22 $24 $2.30
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
117,000 68.0% 2003
1,562 20,256 37,449
$20 $20 $1.48
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 47.8% 1977/98
1,354 4,865 25,742
$8 $12 $2.57
SOUTH
LIGHTHOUSE SHOPPING CENTER 7143 S YALE TULSA, OK 74136
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
38,045 85.9% 1988/2008
1,904 3,458 5,362
$16 $22 $2.88
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 3,550 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 65.4% 2007
2,956 3,000 5,956
$6.75
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
$9
SOUTH
PALAZZO 8222 E. 103RD ST. S. TULSA , OK 74133
WALMAN COMMERCIAL / JUSTIN BROWN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
59,100 83.1% 2006
1,000 6,000 10,000
$14 $20 $1.21
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
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
$22 $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 LEWIS PLAZA 7030 S LEWIS TULSA, OK 74136
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
37,500 86.7% 1984
1,400 2,600 5,000
$12 $7.50 $2.40
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 75.6% 2006
2,840 8,950 11,790
$12 $16 $1.20
SOUTH
$2.43
$2.38
NOTE EXPANDED LISTING
60
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
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 5141 S. PEORIA AVE. TULSA, OK 74105
34,450 100.0% 1980
1,800 1,800 0
$25 $25 $2.85
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. / ALICIA NOLEN / 918-493-2525 3114 E. 81ST STREET TULSA, OK 74137
47,020 66.8% 1983
1,450 3,960 15,608
$12 $11 $3.81
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
SOUTH
SUMMIT SQUARE 71ST & SHERIDAN, S/W C TULSA, OK 74136
GBR PROPERTIES, INC. / ALICIA NOLEN / 918-493-2525 3114 E. 81ST STREET TULSA, OK 74137
166,800 77.3% 1987
1,500 25,000 37,857
$12 $6 $2.89
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
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
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
32,000 87.9% 2013
1,514 2,347 3,861
$22 $22 $1.75
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
30,220 71.3% 1985
906 3,000 8,679
$10 $11 $1.60
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 O’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
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
SOUTH
3,248 $12.50 $9.50 $2.20
NOTE EXPANDED LISTING
61
RETAIL | SEE ZONES PAGE 33
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
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
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 82.1% 1976
7,500 7,500 7,500
$8 $8 $0.92
SW
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
SW
SOUTHWEST CROSSROADS SWC 121ST & HWY 75 GLENPOOL, OK 74033
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
32,431 40.2% 2009
1,250 16,000 19,400
$22 $22
SW
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
SW
TULSA HILLS SHOPPING CENTER 7336 S OLYMPIA AVE TULSA, OK 74132
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
1,200,000 98.9% 2007
1,200 8,962 13,162
$30 $30
SW
VILLAGE ON MAIN 117 S 7TH ST JENKS, OK 74037
VILLAGE ON MAIN LLC / 918-299-3040 1177 W. 106TH ST. S. JENKS, OK 74037
44,193 37.0% 2012
952 20,000 27,844
$9 $12
$8
$9.50 $9.50 $1.23
WEST WEST
CRYSTAL CITY SHOPPING CENTER 4207-4289 SOUTHWEST BLVD TULSA, OK 74131
110,000 100.0% 1954
17,850 50,533
WEST
FORMER K-MART 1200 E. CHARLES PAGE BLVD SAND SPRINGS, OK 74063
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 SHOPPING CENTER 5600 W SKELLY DR TULSA, OK 74107
BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
162,726 71.7% 1979
2,000 29,294 46,080
$7.50 $4.75 $0.50
NOTE EXPANDED LISTING
62
$0.69 $5
84,210
INDUSTRIAL SALE OF THE YEAR AirPark Distribution Center Pat Coates, Coates Properties Brett Price, Newmark Collier Imgrund, Newmark INDUSTRIAL LEASE OF THE YEAR Sulzer Chemtech Bill Beichler, McGraw CP Ryan Brah, McGraw CP Dwayne Flynn, CBRE Dave Looney, McGraw CP Bill Mizener, CBRE Ryan Shaffer, CBRE Carey Velez, McGraw CP OFFICE LEASE OF THE YEAR Community Care Jared Andresen, Cushman Wakefield Bill Daniels, Daniels Greer Properties Scott Schlotfelt, Cushman Wakefield OFFICE SALE OF THE YEAR Old Community Care Mitch Adwon, Adwon Properties Jordan Helmerich, Adwon Properties
RETAIL SALE OF THE YEAR Admiral Place Shopping Center Matt Mardis, Paine & Associates Brian Paine, Paine & Associates Garrett Mahaney, Paine & Associates
DEAL OF THE YEAR (LARGE AWARD) Community Care Office Lease Jared Andresen Cushman Wakefield DEAL OF THE YEAR (LARGE AWARD) Community Care Office Lease Scott Schlofelt Cushman Wakefield
RETAIL LEASE OF THE YEAR Urban Air Adventure Park George O’Connor, Mid America Realty Kevin O’Connor, Mid America Realty Caitlin Shores, CBRE Lindsey Warren, CBRE MULTIFAMILY SALE OF THE YEAR Metro Apartments David Burnett, ARA / Newmark Brandon Lamb, ARA / Newmark Tim McKay, ARA / Newmark Justin Wilson, ARA / Newmark
2017 DEALS OF THE YEAR
2017 Deals of the Year
DEAL OF THE YEAR (LARGE AWARD) Community Care Office Lease Bill Daniels Daniels Greer SCOTT A. SANDITEN (LARGE AWARD) MEMBER OF THE YEAR Nick Lombardi Stan Frisbie
LAND SALE OF THE YEAR QT - 15th and Lewis Neil Dailey, McGraw CP
RE-DEVELOPMENT DEAL OF THE YEAR (SMALL AWARD) The Palace & Podium Buildings Wiggin Properties
DEVELOPMENT DEAL OF THE YEAR (SMALL AWARD) Gateway Plaza Gateway Mortgage
Mark your calendars for April 25, 2019. The Oklahoma Chapter of NAIOP will name its 2018 deals of the year with a celebration. 63
64
INDUSTRIAL OVERVIEW
SOLID GROUND While 2017 proved solid for Tulsa’s industrial real estate market, 2018 also has seen strengthening demand with record low vacancy and 347,162 square feet of net absorption in Q2 alone. Moody’s Analytics reports Tulsa is still measuring within the midexpansion period of the current business cycle and, by all indications, the industrial sector is poised to continue the current trend. The overall U.S. economic outlook indicates accelerated activity in the second quarter of 2018 and is expected to expand at a moderate pace over the rest of the year. Further, labor markets have continued to tighten with moderate increases in wages, inflation and interest rates. Oklahoma’s unemployment rate fell to 3.8 percent in July from 3.9 percent in June, and according to a recent report from the Oklahoma Employment Security Commission, the state’s jobless rate was down from 4.2 percent in July 2017. The nationwide unemployment rate was 3.9 percent in July 2018, down from 4.3 percent in July 2017.
BY SHAWNA HALE, CCIM 65
INDUSTRIAL OVERVIEW
The Federal Reserve Bank of Kansas City’s July Man-
Site work has commenced with anticipated delivery
facturing activity continued to expand solidly, and
ment will create 1,500 jobs which, according to Tulsa
ufacturing Survey revealed that 10th District manuexpectations for future growth hold strong. While
many firms remain concerned about labor availability and tariffs, optimism is still high. Oil prices now
Mayor G.T. Bynum, makes this the largest new employer announcement in Tulsa history.
Other Greenhill projects include a 100,000-square-
trading at $68.31 per barrel are at their highest since
foot spec building recently permitted by Owasso
Oklahoma economy. Increased materials costs have
a 250,000-square-foot kitchen and distribution cen-
November 2014, which always bodes well for the
yet to halt new construction on the local level even
as the cost to build industrial has edged up to ±$75-
Land Trust and QuikTrip’s $39.9 million investment in ter planned for operation before yearend.
Last year, Wisconsin-based Greenheck Group, a
$85 per square foot.
ventilation systems company, purchased a site at East
cord, Brad Banks, port operations manager, report-
gan construction of the first of two 100,000-square-
According to a spring issue of The Journal Re-
ed that the Tulsa Port of Catoosa has attracted sev-
eral new resident companies this year, including a
metal processing center and a manufacturer of truck bodies. Among others, Samuel Son & Co. and C&S
Technical Services LLC are benefiting from nearly $12
Apache Street and North 129th East Avenue and be-
foot manufacturing buildings. KCL Insurance Co.,
a developer with holdings in Tulsa, sold the dirt to Greenheck and built their own 80,538-square-foot spec project nearby. The
southeast
submarket
gained
another
million in heavy dock renovations. More so than in
60,000-square-foot spec building at Centergate
with multiple other business inquiries, including sev-
expanding their Broken Arrow campus by 68,000
the past 18-24 months, this year’s activity is strong eral existing port companies planning significant facility expansions in the coming year.
Overall manufacturing space demand remains
and Alpha Laval Air Cooled Exchanges company is square feet with plans for a 50,000-square-foot phase II.
Not expected to be operational until 2020, the
steady due in large part to the usual suspects in-
Italian tissue paper manufacturer Sofidel is con-
Currently, of the roughly 18 +10-ton capacity crane
an estimated $360 million capital investment to the
cluding energy, heat exchanger and aerospace firms.
facilities available for lease or sale in the market, nearly half are older facilities and so functionally obsolete that, for many users, retrofitting isn’t even an
structing a 1.8 million-square-foot plant in Inola with city. It will support 300 new jobs in the Rogers County community.
option. There are approximately two dozen compa-
SALES RECAP
from 25,000-300,000 square feet with half consisting
459,320-square-foot Green Valley Center at East
nies with active requirements in our market ranging of warehouse/distribution users seeking modern logistics facilities, which will likely be candidates for
absorption of the earlier noted new spec product set for delivery this year and early 2019.
IDO’s ±$11 million value-add purchase of the Pine Street and North Garnett Road includes plans for interior reconfiguration to allow for more functional space designs. In April, local investor Gail
Runnels purchased a multi-property portfolio from longtime industrial owner Al Grossich for an undis-
NEW CONSTRUCTION
closed price. Reports indicate more than $60 million
which boasts plans for the construction of a robot-
nificant transactions of 60,000-126,000 square feet.
The much-anticipated Amazon Fulfillment Center, ics driven, state-of-the-art, four-story facility situated on an 82-acre campus in Greenhill Industrial Park.
66
second quarter 2019. The $130 million capital invest-
in total volume year-to-date, including six recent sig-
While these larger sales traded at an average of $27.30 per square foot, the overall average price per
square foot is $54.64, which is reflective of the fact
cent legalization laws, it’s still uncharted territory for
a per-foot basis. The buyer pool included Westerman
flow of inquiries for space to accommodate entre-
that smaller buildings typically deliver higher prices on
Inc. at the Port, WRT Realty Inc., Bearwood Properties LLC and ASC Inc. completing deals in the north and west submarkets where sale activity was strongest.
our CRE sectors as brokers begin fielding a steady
preneurs and established groups looking to house dispensaries, labs, cultivation/grow facilities and processing plants. The focus is climate-controlled
space up to ±40,000 square feet and preferably
LEASE HIGHLIGHTS
freestanding Class B and C warehouses; as lower
er lease transactions were renewals including three
are typically not a deterrent from an operational
With the exception of CHEP USA, most of the larg+100,000 square-foot deals and another seven rang-
ing from 40,000-71,000 square feet. Notable tenants
clear height, loading and narrower column spacings standpoint.
It’s questionable how the influx of these start-ups
were Helmerich & Payne renewing space in west
will play out over the coming months as many antic-
Sonoco, Walmart and Carrier Enterprises LLC were
first two to three as those “green rushers” lacking
Tulsa and UOP Russell in Catoosa while CHEP USA, among the tenants securing larger blocks of space in
the southeast submarket. Rates ranged from $2.71 per square foot to $9.98 per square foot NNN with an average rate of $4.60 per square foot NNN. The
seven-year historically low vacancy rate of 3.6 percent has allowed landlords to command higher rent-
al rates for small multi-tenant spaces and buildings under 10,000 square feet. Newer buildings, and
even aging inventory if well located in the southeast submarket, are commanding $5.75-$6.40 per square foot NNN with minimal landlord concessions.
ipate the return of a fair amount of product in the
in experience and access to substantial “cash” startup capital may not make it much past the harvesting
of their first crops. There is opportunity for owners
comfortable with the use and whose properties are debt free if they can capture deals with those stron-
ger players. Assuming Oklahoma follows a similar trend to other states early after legalization, sale prices for Class B and C warehouses may jump 20-25
percent and lease rates could increase two to three times higher than average rental rates for traditional
users before we see a return of inventory as the calm sets in after the rush.
NEW DYNAMIC
In summary, even considering steel prices have
The recent passing of Oklahoma SQ788 legalized
increased 35 percent since January, barring any fur-
of retail and industrial users representing the rela-
iffs announce in March 2018, speculation still rather
medical marijuana and has brought about an influx
tively new cannabis-related industry. While we can draw from the experiences of other states with re-
ther unforeseen ill effects brought about by the tar-
bullish into the first quarter of 2019 on all industrial CRE fronts. •
HISTORICAL NET ABSORPTION AND VACANCY
SOURCE: CBRE RESEARCH, COSTAR Q2 2018
Net Absorption (000’s) SF
Vacancy Rate (%)
600
5.0
400
4.5
200
4.0
0
3.5
(200)
3.0
(400)
2.5
(600)
2.0
Q1 2016
Q2 2016
Q3 2016
Q4 2016
Q1 2017
Q2 2017
Q3 2017
Q4 2017
The Port of Catoosa, just northeast of Tulsa, is one of the nation’s largest inland ports.
Q1 2018
Q2 2018
67
INDUSTRIAL | SEE ZONES PAGE 33
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
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-582-8100 5100 E. SKELLY DR TULSA, OK 7410374135
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
BA
2600 WEST ALBANY 2600 W ALBANY BROKEN ARROW, OK 74012
BA
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
BA
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
BA
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
BA
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
BA
GREENWAY RENO BUILDING 1914 W RENO ST BROKEN ARROW, OK 74012
WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137
24,470 100% $6.50
5,400
DRIVE IN 12’
BA
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’
BA
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
146,007 65.7% $4.60
50,111 50,111 NO
DOCK HIGH/DRIVE IN 21’ NO
BA
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
BA
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
BA
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 89.2% $4.50
11,616 26,802 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
CENTRAL
3,000 3,000
GRADE LEVEL & DOCK HIGH 18’ NO
DRIVE IN & DOCK HIGH DOOR 15’ NO
NOTE EXPANDED LISTING
68
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
12535 E. 52ND STREET WAREHOUSE 12535 E 52ND ST TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 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
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-582-8100 5100 E. SKELLY DR TULSA, OK 74103-74135
40,000 78.1% $7.00
3,750 8,750 YES
14’ DRIVE IN DOORS 16’ NO
EAST
5304 E. 125TH E. AVE. 5304 E. 125TH E. AVE. TULSA, OK 74146
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
33,000 100% $6.75
0 0
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 84.4% $5.00
1,500 4,500 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
7498 E. 46TH PL 7498 E. 46TH PL TULSA, OK 74145
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
82,000 0% $4.75
82,000 82,000
EAST
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 91.7% $7.00
3,082 3,082 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 0% $5.75
113,120 113,120 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
74,000 90.3% $5.95
3,000 7,200 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 82.8% $4.50
11,000 32,000 YES
DOCK HIGH, VAN HIGH, GRADE LEVEL 18’, 15.5’, 14.5’ NO
NOTE EXPANDED LISTING
69
INDUSTRIAL | SEE ZONES PAGE 33
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
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
EAST
GRAEBEL WAREHOUSE 12535 E 52ND ST TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 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 75.3% $6.50
9,750 9,750 NO
YES 10’ NO
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 SOUTH 5915 S 118TH E AVE TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 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. / MIKE ESTUS / 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. / MIKE ESTUS / 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 92.2% $6.50
2,725 5,725 PARTIAL
DRIVE IN 16’
EAST
NEWBURY PARK 122 5666 S 122ND E AVE TULSA, OK 74146
134,000 79.5% $5.75
20,000 27,500 YES
12’X14’ OHD 20’ & 24’ NO
EAST
SOUTHEAST TECH CENTER
NO
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 81.9% $7.00
2,900 5,700 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 87.2% $4.50
15,000 26,250 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 / 918-388-9588 4105 S. ROCKFORD AVE, TULSA , OK 74105
160,890 98.2% $4.25
2,954 2,954 YES/NO
MULTIPLE 16’ - 22’ NO
EAST
WALVOIL BUILDING 12356 E 52ND ST TULSA, OK 74146
CUSHMAN & WAKEFIELD / COMMERCIAL OKLAHOMA INC. / ROB STEPHENS / 918-359-3520 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 5115 -5129 S. 100TH E. AVE. TULSA, OK 74145
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
34,413 92.6% $7.50
2,530 2,530 YES
DRIVE-IN DOORS 14’ NO
NOTE EXPANDED LISTING
70
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
MIDTOWN MIDTOWN
6504 E. 44TH ST. 6504 E. 44TH ST. TULSA, OK 74145
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
25,163 0% $4.50
25,163 25,163 YES
(3)12’X12’ DH (1)12’X14’ DI OHD (1)12’X14’ DOCK OHD 20’ NO
MIDTOWN
6517-6531 E 46TH ST 6517-6531 E 46TH ST UNIT 6521 TULSA, OK 74145
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-582-8100 5100 E. SKELLY DR TULSA, OK 74103-74135
27,000 77.0% $6.00
4,700 6,200 NO
DRIVE IN 16’ 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
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
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. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
102,214 100% $4.50
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
NEWBURY PARK 46 6549 E 46TH ST TULSA, OK 74145
37,500 100% $5.95
0 0 YES
12X14” OHD 20’ NO
MIDTOWN
NEWBURY PARK 70 4444 S 70TH E AVE TULSA, OK 74145
34,905 85.7% $5.75
5,000 5,000 YES
GRADE LEVEL DOCK HIGH 24’ 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
55,310 100.0% $3.75
0 0 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
MIDTOWN
THE TRADE CENTER 7739-43 E 38TH ST TULSA, OK 74145
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-582-8100 5100 E. SKELLY DR TULSA, OK 74103-74135
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
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-582-8100 5100 E. SKELLY DR TULSA, OK 74103-74135
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 91.6% $5.00
36,216 38,304 YES
DOCK HIGH / DRIVE IN VARIES YES
NO
NO
NOTE EXPANDED LISTING
71
INDUSTRIAL | SEE ZONES PAGE 33
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
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’
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 22.1% $3.50
110,600 147,996 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’
NORTH
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% $4.75
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
VALHOMA CORPORATION / 918-836-7135 9797-10161 E ADMIRAL PL, STE 9925 TULSA, OK 74116
13,949
NORTHEAST NE
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 58.1% $3.75
35,000 65,000 YES
DOCK HIGH & DRIVE IN 25’ NO
NE
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
NE
BP EXCHANGE INDUSTRIAL PARK 10837 E MARSHALL TULSA, OK 74116
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
163,200 92.2% $5.25
2,550 12,750
NE
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
NE
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
380,000 0% $2.25
380,000 380,000 YES
DOCK HIGH/DRIVE IN 18’ NO
NOTE EXPANDED LISTING
72
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
NE
GREEN VALLEY CENTER 11333 E PINE ST TULSA, OK 74116
CBRE, INC. / DAVID GLASGOW / 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
NE
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
NE
PECAN VALLEY BUSINESS CENTER 1345 N. GARNETT TULSA, OK 74116
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
100,000 0% $7.50
27,600 100,000 NO
DRIVE IN 20’ NO
NE
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
NE
VANS GLEN 10816-10840 E NEWTON PL TULSA, OK 74116
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL. , STE. 400 TULSA, OK 74133
53,642 97.2% $4.68
1,500 1,500 0
GRADE 10’ NO
NE
WOLF POINT INDUSTRIAL PARK 1558 N. 107TH AVE. TULSA, OK 74116
CBRE, INC. / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
20,000 0% $4.77
20,000 20,000
(2) GRADE LEVEL (1) DOCK HIGH 13”
WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137
55,000 100% $6.00
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
125,510 90.4% $6.50
8,400 12,000 NO
DRIVE IN 16’ NO
NORTHWEST NW
OSAGE INDUSTRIAL 3989 N OSAGE DR CATOOSA, OK 74127
4 DRIVE IN OH DOORS 3-18’
OWASSO OWASSO
OWASSO INDUSTRIAL PARK 202-310 E. 5TH AVE. OWASSO, OK 74055
SOUTH SOUTH
10405 E 55TH PL 10405 E 55TH PL TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
234,191 87.5% $4.50
29,186 29,186 YES
NO
SOUTH
5171 SO. MINGO ROAD 5171 S MINGO RD TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 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 / 918-388-9588 4105 S. ROCKFORD AVE, TULSA , OK 74105
15,840 61.7% $6.00
6,060 6,060 NO
2 UP TO 21’ NO
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% $7.25
2,940 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) (5)DOCK HIGH 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
NOTE EXPANDED LISTING
73
INDUSTRIAL | SEE ZONES PAGE 33
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
FORD PARTS DISTRIBUTION CENTER 10007 E 61ST TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 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 97.1% $5.50
2,025 2,025 NO
YES 16.5’ NO
SOUTH
MARKET PLACE AT POINTE SOUTH 8303-8311 E 111TH ST BIXBY, OK 74008
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-582-8100 5100 E. SKELLY DR TULSA, OK 74103-74135
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
26,048 100% $8.50
0 0 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 6846 S. CANTON AVE,, SUITE 250 , TULSA, OK 74136
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. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
28,800 100% $0
0 0 YES
5 24’ NO
SOUTH
SHANNON SQUARE
• • • • • • • •
9433, 9515, 9525 E 51st
99,192 SF Industrial Facility Four Freestanding Buldings Dock High & Grade Level Loading Up to 14.5’ Clear Height Professionally Managed Local Ownership Retail, Office and Flex Layouts Zoned IL - Light Industrial
Contact: Dwayne Flynn, CCIM, Ryan Shaffer, CBRE, 918-392-7249 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
99,192 72.9% $5.25
5,400 26,867 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
6430 S. 39TH W. AVE. 6430 S. 39TH W. AVE. TULSA, OK 74132
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
31,312 0% $5.00
18,762 31,312
WEST
909 W. 23RD STREET 909 W. 23RD STREET TULSA, OK 74107
CBRE, INC. / TONY AARONSON / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
5,767 -815.0% $4.00
52,767 52,767
(17) GRADE LEVEL LOADING DOCK 14
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 87.6% $5.50
45,000 45,000
DOCK HIGH & DRIVE IN
WEST
YES
NOTE EXPANDED LISTING
74
NAIOP 2018 A DV E RT I S E R S I ND EX
American Heritage Bank 918-224-3210 anb.bank Page 25 Bank of Oklahoma 918-499-8470 7060 S. Yale Ave., Suite 301 Tulsa, OK 74136 bok.com Page 45 Case and Associates 918-492-1983 4200 E. Skelly Drive, Suite 800 Tulsa, OK 74135 caseusa.com Back Cover CBRE 918-665-3830 1401 S. Boulder Ave. Tulsa, OK 74119 cbre.us/tulsa Page 31 Cherokee Springs Plaza 918-442-2291 HWY 62, Tahlequah, OK 74464 cherokeespringsplaza.com Page 53 CityPlex 918-493-8888 2488 E. 81st St., Suite 188 Tulsa, OK 74137 tulsatrinity.com Page 1 Claymore 918-505-9292 300 N. Main St. Broken Arrow, OK claymorecm.com Page 23 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 11
Custom Cleaning Group 918-481-1940 6440 S. Lewis Ave., Suite 2700 Tulsa, OK 74136 customcleaninggroup.com Page 4
INTRUST Bank 405-949-6547 1450 S. Kelly Ave Edmond, OK 73003 intrustbank.com Page 45
Cyntergy 918-877-6000 320 S. Boston Ave. Tulsa, OK 74103 cyntergyaec.com Page 32
JLL 918-492-4844 405-721-1133 us.jll.com/valuation-advisory Page 25 KKT 918-744-4270 2200 S. Utica Place, Suite 200 Tulsa, OK 74114 kktarchitects.com Page 53
Firstar Bank 918-296-1310 9696 E. 101st St. Tulsa, OK 74133 firstar-bank.com Page 31 Frisbie Lombardi Commercial Real Estate 918-747-7600 P.O. Box 52126 Tulsa, OK 74152-0126 frisbielombardi.com Page 23 Gemini Rosemont 918-492-3400 6100 S. Yale Ave., Suite 390 Tulsa, OK 74136 geminirosemont.com Inside Front Cover Great Southern Bank 918-499-2602 4200 E. Skelly Drive, Suite 900 Tulsa, OK 74135 greatsouthernbank.com Inside Back Cover Guaranty Abstract Co. 918-587-6621 2705 E. 21st St. Tulsa, OK 74114 guarantyabstract.com Page 32 HUB INTERNATIONAL 918-747-8631 6100 S. Yale Ave., Suite 1900 Tulsa, OK 74136 hubinternational.com Page 80
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!
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 Road Tulsa, OK 74105 mcgrawcp.com Page 4 OK CCIM 918-850-3654 P.O. Box 14343 Tulsa, OK 74159 okccim.com Page 23 Price Edwards & Co. 918-394-1000 7633 E. 63rd Place, Suite 400 Tulsa, OK 74133 priceedwards.com Page 17 Tulsa Regional Chamber 918-585-1201 1 W. Third St. Tulsa, OK 74103 tulsachamber.com Page 11 Twenty First Properties 918-743-4300 2121 S. Columbia Ave., Suite 650 Tulsa, OK 74111 tfptulsa.com Page 17
75
76
M U LT I F A M I LY O V E R V I E W
SUPPLY AND DEMAND As Tulsa population continues to boom and job growth maintains a steady climb, the demand for multifamily properties continues to speak volumes. The reduced unemployment over the past year (June 2017–June 2018) has increased demand of all housing types, but particularly multifamily. Tulsa’s unemployment rate increased slightly in June to 4 percent, however, this is still 80 basis points ahead of the 4.8 percent rate for the same period in 2017. According to CoStar’s Tulsa Multifamily Market report, the Tulsa job market experienced significant improvement for year-to-year job growth in the last quarter of 2017. Local companies are starting to feel the economy stabilizing for the first time since the decline of oil prices in 2014. The energy market is regaining its footing with Oklahoma’s rig count reaching a three-year high as of early in third quarter of 2018. Additionally, another of Tulsa’s major industries, the aerospace manufacturing sector, has started adding back jobs. A report published by Moody’s Analytics indicates that Tulsa’s year-overyear job growth is forecast to outpace the rest of the U.S. through 2018, and into mid-2019.
BY ROBERT LEIKAM 77
M U LT I FA M I LY O V E R V I E W
The economy also will benefit from the
able, whereas less than one-third of that amount,
population growth for the Tulsa MSA, which
or about 500 units, are scheduled to hit the mar-
is estimated to increase at around 1 percent
ket in 2018. The majority of the multifamily mar-
per year through 2022, according to Esri 2018.
ket in Tulsa is comprised of B/C-level apartments,
This equates to just under 10,000 residents per
however, the bulk of units developed in the past
year moving to the Tulsa MSA. The population
several years have been Class A apartments. The
growth, coupled with a population base which
number of Class A units hitting the market in
tends toward higher income and education
2017 and 2018 necessitated some creative think-
levels than the rest of the state, will positively
ing in terms of marketing and lease up strategies.
impact Tulsa’s economic recovery. As the Tulsa
While rent concessions ranging from one-half to
economy improves and workforce demands in-
two-months’ rent was a common incentive, the
crease, so will the overall demand for real es-
use of branded gift cards saw an increase in
tate. We are noticing this in the trend toward
popularity.
lower vacancy numbers, after a sharp increase in vacancy rates in 2016-2017.
One of the largest projects to complete delivery in early 2018 was 71 Apartments at Tulsa
The chart below, from CoStar’s Multifamily
Hills. This Class A project was 90 percent occu-
Report, depicts Absorption, Net Deliveries and
pied at the end of July. There are four projects
Vacancy
currently in development, with delivery expected by the end of 2018: 264 units near West 18th
DEVELOPMENT
Street and Riverside Drive, 134 units in the South
Compared to last year, development activity has
Tulsa/Broken Arrow submarket, and 72 units in
slowed in the Tulsa area for 2018. During 2017,
two separate downtown Tulsa projects. The
approximately 1,600 new units were made avail-
number of new multifamily deliveries for 2019
ABSORPTION, NET DELIVERIES AND VACANCY Forecast
800
11%
600
10%
200
9%
400
8%
0
7%
-200
6%
-400
5%
-600
4% Absorption
78
12%
Net Deliveries
Vacancy
United States Vacancy
Vacancy
Absorption and Net Delivered Units
1,000
looks to be minimal, with no new units expected
each generated a per-unit price of $101,000.
to hit the market until the fourth quarter.
Similarly, Marcus & Millichap reports that
Whether new development is in the urban
investors from around the country are attract-
or suburban markets, savvy renters are looking
ed to the high returns from local investments.
for communities that are conducive to a robust
While transaction velocity decreased in 2016,
live-work-play environment. This is achieved in
it has rebounded over the past year (ended
areas where there is a concentration of employ-
March 2018). The potential for larger returns is
ment, retail and entertainment options. The
the impetus motivating investors from the Mid-
suburban developments also will see greater
west and West Coast cities. Within Tulsa, yields
focus on areas with the best schools.
can range from 6-6.5 percent for Class A and B projects, to above 9 percent for older properties with fewer amenities.
SALES The momentum generated last year in sales vol-
The chart below, from CoStar’s Multifamily
ume is continuing into 2018. Sales were at $115
Report, depicts Sales Volume & Market Sales
million as of July 2018 according to CoStar’s
Price Per Unit.
Multifamily Market Report. Also noted, more and more out-of-state buyers have shown inter-
CONCLUSION
est in investing in the Tulsa area, to which much
The stabilization of the oil and gas job market,
of the increase in recent sales volume can be
moderate interest rates and healthy investor
attributed. The two top sales of the year were
demand have smoothed out the uneven ride
Stonehaven Villas (296 units) for $30 million and
we have encountered over the past five years.
Preston Lakes (260 units) for $26.35 million. Both
Market conditions will continue to improve if
were to Hamilton Point Investments. The sales
supply and demand remain in balance. •
SALES VOLUME AND MARKET SALES PRICE PER UNIT $220,000
$180
$180,000
$160
$160,000
$140
$140,000
$120
$120,000
$100
$100,000
$80
$80,000
$60
$60,000
$40
$40,000
$20
$20,000
2013
2014
2015
Sales Volume
2016
2017
Tulsa Price/Unit
2018
2019
2020
2021
2022
Sales Volume in Millions
Market Sale Price/Unit
$200
Forecast
$200,000
$0
United States Price/Unit
The first major structure constructed on Cherry Street was the Bellview School, which was built in 1909.
79
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