NAIOP 2015 by NAIOP Oklahoma

Market Overviews Tulsa • National

Industry Overviews Office • Retail • Industrial Multifamily • Land

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C O M M E R C I A L

P R O P E R T I E S

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table of contents

tulsa

CONTINUED GROWTH.. ....................................................... 9 by Joshua Kline national

FEELING THE PRESSURE.................................................... 15 by John Stancavage office

SEEKING STABILITY........................................................... 21 by Tanda Francis

MAP ZONES .......................27

trends

TRENDS IN SQUARE FEET. . ................................................ 24

O FFICE

by Andrew Ponsen

Listings................................... 28

retail

TULSA TOUGH.................................................................... 41

RETAIL

by Kate Thorp

Listings................................... 45

industrial

DEEP IMPACT...................................................................... 55

INDUSTRIAL

by Bob Pielsticker, SIOR

Listings................................... 58

multifamily

RIDING THE WAVE.............................................................. 67 by Greg Wright

GENERAL

land

National NAIOP Members.... 53

MOVING FORWARD............................................................ 70

Advertiser Index..................... 65

by Nick Lombardi

Tulsa ranks No. 4 nationally for new and expanded facilities among Tier II cities (Site Selection 2015)

No. 1 city among top 10 most budget-friendly metros (Apartment Guide 2014)

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

No. 2 best city for starting a business (WalletHub.com 2015)

No. 4 best city for first-time homebuyers (SmartAsset.com 2015)

No. 5 most affordable big city in the U.S.

No. 5 among top 5 U.S. cities for Advanced Manufacturing (ChangeTheEquation.org 2014)

(Yahoo Finance/Kiplinger 2014)

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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NAIOP OFFICERS & BOARD OF DIRECTORS JASON KENNON president

Case & Associates

NICK PROBST vice president

Corporate Realty Advisors

JONATHAN COWAN treasurer

US Signs & Screenprinting

CARL VINCENT s e c r e ta ry

Ruffin Prope rt i e s

TANDA FRANCIS

from the president The Tulsa Chapter of NAIOP proudly presents the 26th edition of the Tulsa Commercial Properties Magazine. It is my unique and very distinct honor to represent this fine organization for a second consecutive year as President, which also affords me the opportunity to write another letter for this distinguished magazine. Last year in this very publication, we announced the new partnership with Langdon Publishing, publisher of TulsaPeople and The Tulsa Voice. I think everyone will agree that last year’s magazine not only continued our tradition of creating a first-class publication, but also improved upon this product, which is widely considered Tulsa’s preeminent commercial real estate magazine. The Tulsa Chapter of NAIOP believes that we couldn’t have selected a better partner! To our industry sector writers — thank you, thank you, thank you! Your contribution is an integral part of a successful publication. Additionally, we also must recognize everyone that contributed critical property-specific data that makes up a large part of the magazine. The time invested is sincerely appreciated!

magazine chair

Price Edw a rds & Comp a n y

past presidents Steve Ganzkow, American Residential Scott Morgan, Coury Properties Gene Phillips, Wallace Engineering Carl Vincent, Ruffin Properties

directors Bill Beichler, Newmark Grubb Levy Strange Beffort Chris Bumgarner, Bumgarner Asset Management Tanda Francis, Price Edwards & Company Ben Ganzkow, CBRE Susan Buck, Flintco LLC Bill Miller, BancFirst Tulsa Danny Overton, DLRE, Inc. Alynchia Reynolds, Look Properties For membership information: Debra Wimpee, Chapter Executive Phone: 918-850-3654 debra@naioptulsa.com

To our advertisers and sponsors, on behalf of our Chapter, we must also say “Thank you, thank you, thank you!” Without your continued support, this publication would not be possible. Thanks also must be expressed to Debra Wimpee, our chapter executive. Your dedication and hard work for this organization is not lost on the Board of Directors and is greatly appreciated. Finally, this year’s magazine chair, Tanda Francis, has done an outstanding job of ensuring another successful publication for the chapter’s signature product. Thank you, Tanda! Although we are a full year into the drop in oil prices, nearly half from the last time I wrote this letter, commercial real estate continues on with positive trends, which our readers will find consistent throughout each market segment write-up. With very few exceptions, every asset class has new construction in progress. Whether it be the exciting things going on downtown, new suburban multifamily complexes or new retailers looking to establish their very first Oklahoma location right here in the greater Tulsa area, it is very encouraging to finally be on the proverbial radar of companies that historically overlooked us. This should bode well for the expected continued strengthening of our overall commercial real estate market as we put the Great Recession further in the rearview mirror. In closing, I once again emphasize the value of becoming a NAIOP member. When you not only join NAIOP, but also actively participate in the many NAIOP Tulsa programs and events, you undoubtedly gain an edge in our industry. NAIOP provides unique access to companies and commercial real estate professionals that is second to none. We encourage you to get involved and put membership to the test!

NAIOPTULSA.COM Published for NAIOP Tulsa Chapter by

Tulsa Commercial Properties is owned by the NAIOP Tulsa 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 2015. All rights reserved. Reproduction in 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, Tulsa Chapter, P.O. Box 4654, Tulsa, OK 74159-0654. Telephone (918) 850-3654.

Please join me in toasting to a very successful 2015 and enjoy the 26th edition!

JASON KENNON president, naiop

tulsa

Case & Associates

Cover photo by Michelle Pollard

KPM INVESTING IN TULSA’S SECOND CENTURY KPM owns and manages 2.2 million square feet of office space in the central business district of downtown Tulsa, which accounts for approximately 30 percent of total commercial real estate.

KPM announces 183 new downtown residential apartments KPM has ambitious plans for the portfolio,

» Strategic upgrades and capital investments in excess of $8 million to modernize equipment and rejuvenate spaces in the last 24 months.

including investing more than $20 million to convert several historic buildings into 183 luxury apartments in the heart of the downtown Deco District. Understanding today’s employers attract

» Since new ownership invested and assumed oversight, KPM has successfully leased or renewed leases of

and retain the best talent by locating in a place

more than 400,000 square feet.

with top-tier amenities for employees, KPM

» More than 300,000 square feet in ready-to-lease form.

is establishing a walkable district filled with residences, retail, and entertainment. Included in the plans are the TransOK Building at 2 W. Sixth St., the 111 W. Fifth Building and the Adams Building at 403 S. Cheyenne Ave.

The cohesiveness of a downtown district means employers are in a compact location that offers housing and walkable districts for retail and restaurants. The KPM portfolio has everything from flexible shared spaces in historic buildings to elegant class A towers.

KPM

KPM 15 E 5th St, Tulsa, OK 74103 www.kanbarproperties.com

For leasing and management contact DANIEL REGAN, Leasing Director (918) 581-3300 | dregan@kanbarproperties.com

from the developing leaders In commercial real estate, learning best practices is vital to long-term growth and sustainability. After attending NAIOP’s annual Leadership Conference in Washington, D.C., we learned that a committee of engaged young professionals — not just a chair and/or co-chair — leads many of the most successful Developing Leader organizations. With the support of the NAIOP Tulsa board, the Developing Leaders Committee was formed.

In August, HUB International hosted approximately 40 young professionals to a networking lunch for a market update with industry leaders Dave Kollman (again), Jeff Hughes, Bob Pielsticker and Scott Case.

This year’s committee members are: Caitlin Boewe, CBRE; Zachary Harris, Stan Johnson Co.; Grant Allen, HUB International; and Ryan McDaniel, Commerce Bank. Each year this committee will have some level of turnover to allow for fresh input and ideas from new leaders and provide continuity from year to year. Based on what we have seen from other cities, evolving our leadership into this form will set a new standard for Tulsa’s Developing Leaders and increase our ability to impact commercial real estate in Tulsa.

If you employ any up-and-coming young professionals, be sure to send them our direction. A strong Developing Leaders chapter will lead to long-term success in Tulsa’s commercial real estate industry.

The year kicked off with the annual meet and greet in the private room at Dust Bowl Lanes & Lounge. The majority of Developing Leaders members, and a few guests, enjoyed unlimited bowling, appetizers and networking. Later in 2015, the Developing Leaders were invited to participate in an exclusive NAIOP fireside chat hosted by Dave Kollman at his residence. Guest speakers included Elliot Nelson, Jay Helm and Steve Ganzkow.

The year concluded with cheering on the Tulsa Oilers from the Flintco Suite to celebrate another successful year.

RYAN MCDANIEL Developing Leaders Co-Chair, Commerce Bank

GRANT ALLEN Developing Leaders Co-Chair, HUB International

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TULSA MARKET OVERVIEW

CONTINUED GROWTH Despite setbacks in oil and gas, Tulsa’s economy is on track for continued positive growth, thanks in part to downtown’s continued renaissance and a shift toward apartment living.

Last December, the Tulsa Regional Chamber forecasted a 1.6 percent year-over-year growth in 2015 for Tulsa’s economy — an addition of about 7,000 new jobs.

by JOSHUA KLINE 9

“The city has invested a tremendous amount of money to make downtown a place where people want to go. You’re seeing those commercial properties being bought up and that space being filled. Whereas 10 years ago you could probably get space in downtown for $5 a square foot because nobody wanted to go down there, today (the price) is falling more in line with the $10, $12, $15 a square foot lease rate.” — Dan Newberry, TTCU The Credit Union mortgage banker and District 37 state senator.

“That was with oil prices at $75-$80 (a barrel),” Bob Ball, economic research manager for the Tulsa Regional Chamber, said. Since then, due to global oversupply and high stockpiling, the price of oil has plummeted to 2009 recession levels — as of this writing, it sits just above $40 a barrel, down roughly 46 percent since December’s projection, the lowest since March 2009. In the early spring the Chamber adjusted their forecast to reflect that drop. “(Tulsa) is still going to grow,” Ball reassured. “But at about half that rate, or .8 percent, with an expected 3,600-3,700 new jobs.” According to Ball, Tulsa has lost roughly 1,300 jobs in oil and gas since the first of the year. However, other sectors are going strong, and the first six months of this year have experienced a 1.2 percent growth over the first six months of 2014.

“In (oil and gas), we’re looking at being off 1,300 jobs, but be mindful that through June we’re still growing and have got positive numbers.” Energy may be slowing, but other sectors are compensating. “What we’ve noticed is that employment overall has grown on average over the first six months through June about 1.3 percent,” Ball said. “There are strong pockets — manufacturing, especially machinery manufacturing, is growing well … And certainly a reflection of incomes that we have to spend is seen in employment surges in entertainment and leisure activities-based employment.” The hospitality industry in Tulsa is booming, thanks in part to downtown’s continued resurgence. The explosion of bars, restaurants, hotels and entertainment venues bodes well for our city’s economy. “Those aren’t necessarily high paying jobs most of the time, but they’re employing a lot of people.”

*** “There’s been job growth in so many other industries, really energy is the only one that hasn’t kept pace,” Steve Ganzkow, executive vice president of American Residential Group (ARG), said. “Aerospace, health care in particular, hospitality have all experienced growth.” Ganzkow and ARG’s main focus is on apartment development downtown — ARG is currently developing properties in the East Village and on East Archer Street next to ONEOK Field. They’re just one of many developers taking advantage of the downtown boom. “(As we’ve recovered from the recession) we’ve experienced perfect economic conditions for the apartment business,” he said. “And we’ve seen the benefit of a total rebirth of downtown Tulsa.” Dan Newberry, a mortgage banker at TTCU The Credit Union and District 37 state senator who chairs the Business and Commerce Committee, agrees.

{FACT} Oilman Waite Phillips surprised Tulsans in 1938 with the gift of his 72-room mansion and surrounding 23 acres of grounds as an art center for the city of Tulsa. Today, Philbrook Museum of Art serves about 150,000 visitors annually. 10

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“The city has invested a tremendous amount of money to make downtown a place where people want to go,” Newberry said. “You’re seeing those commercial properties being bought up and that space being filled. Whereas 10 years ago you could probably get space in downtown for $5 a square foot because nobody wanted to go down there, today (the price) is falling more in line with the $10, $12, $15 a square foot lease rate.” Newberry points to the East Village as a prime example. “Five years ago you couldn’t pay anyone to take that property over there,” he said. Today, the district is filled with boutique retailers, food and drink, and ARG and Nelson Stowe development are currently building a $26 million apartment complex that will connect the East Village to the Blue Dome District. “So now what you’re seeing is a change in the dynamic of urban living, you’re seeing a change in the dynamic of (the East Village) and it’s shifting the value of commercial property,” he said. According to Ganzkow and Newberry, the apartment boom isn’t unique to Tulsa, though. Disillusioned and distrustful of the housing market after the financial meltdown, millennials are opting to rent for longer. “The National Real Estate Association study that came out just this last week said that people are now leasing property for six years longer than they ever have in the history of our country,” Newberry said. “And the millennials specifically are buying homes in their 30s, whereas Gen Xers were buying them in their mid-20s. So you’re seeing this shift to ‘maybe my life is more mobile, I don’t know what my life is going to be, I don’t know where I want to go, I don’t want a long-term commitment.’ This is also a generation that walked through the entire real estate collapse without any real understanding of what was going on, so some of them have some very limited views and don’t really like the risk that can sometimes be involved with real estate.” •

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NAIOP (Â´na-Ă¤p) noun.

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NAIOP 2016 ECONOMIC OVERVIEW

FEELING THE PRESSURE The U.S. economy has been dealing with a lot of challenges lately, ranging from weak global markets and “disruptive” tech trends to sluggish salaries and an iffy stock market.

Looking ahead to the rest of 2015 and next year, many economists expect most of these pressures to hang around. As a result, the nation may face another year without the strong recovery everyone has been waiting for since the Great Recession of 2008.

by JOHN STANCAVAGE 15

“The 6-year-old economic recovery seems to have developed a pattern of advancing at a two-steps-forward, one-step-back pace.” — Scott Colbert, an economist with Commerce Trust

In fact, the economy’s inability to get all of its cylinders firing again so long after the last deep downturn may indicate the arrival of a new age of persistent slow growth, experts say. “There’s a debate about whether growth next year will be 3 percent or only 1.5 percent to 2 percent,” said University of Oklahoma economist Bob Dauffenbach. “I think it’s more likely to be the latter.” Bob Ball, economic research manager for the Tulsa Regional Chamber, said much the same thing. “It may be that 2.5 percent to 3 percent annual growth is considered a big deal for a while,” Ball said. “That may become the new standard, like 4 percent to 5 percent used to be.” Scott Colbert, an economist with Commerce Trust, noted the new level of expectations in his midyear outlook. “The 6-year-old economic recovery seems to have developed a pattern of advancing at a two-steps-forward, one-stepback pace,” Colbert said. The rest of 2015 and next year, at least, may see more of the same, he said. “Although these swings may be less pronounced, the choppiness in some consumer and industrial markets should keep growth moving back and forth 16

in a range of 2 percent to 3 percent,” Colbert said. The U.S started 2015 by having to dig out of a hole, both literally and figuratively. Severe snowstorms in many parts of the country slowed the transportation of goods and kept people at home more than usual, leading to a 0.7 percent drop in the gross domestic product for the first quarter. “That was a pretty sluggish start, considering we did have improvements in home sales, job creation and auto sales,” Colbert said. Many economists expect the second half to pick up. Colbert said growth could reach 2.7 percent for the second six months, leading to about 1.4 percent expansion for the year. Four things to watch, according to analysts, are oil prices, international market, interest rates and employment. Oil prices have been the surprise of 2015. Few analysts predicted last year that they would fall so far or stay down as long as they have. Indeed, oil went from more than $100 a barrel in the summer of 2014 to barely $40 a year later, causing layoffs and consolidations throughout the industry. The trend has been both good and bad for the country. On the negative

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side, the downturn has hurt the economies of states such as Oklahoma that rely on petroleum profits. On the positive side, however, it has lowered the cost of transportation of many goods, cut operating costs for manufacturers and putting a smile on the faces of consumers when they pull up to the pumps. The sharp downturn likely was brought on by a combination of the fracking-driven, shale-formation oil drilling boom in the U.S.; unexpected weakness in the economies of other nations, including China; and falling domestic gasoline demand by drivers who learned how to cut their weekly miles after prices had spiked to $4 a gallon. The Organization of Petroleum Exporting Counties, the cartel that essentially controlled oil prices for decades, has interestingly stood pat during the price drop. This strategy leads many analysts to believe the group’s goal is to “break” the shale drillers and retain its market share. Gasoline, meanwhile, spent the summer at low price levels that haven’t been seen in years. Toward the end of the summer, Midwest refinery problems caused a few increases, but not enough to scare some market watchers away from aggressive forecasts. Online price tracker www.gasbuddy. com, for example, forecasts that motor-

ists will spend even less on fuel in 2015 than they did when pump prices were higher a year earlier. GasBuddy experts say that before Christmas, as many as 20 states could have average gas prices below $2 per gallon as the national average for December slips to $1.98. “It’s interesting to remember that last year the national average shed more than $1.27 from Aug. 1-Dec. 31 when the U.S. average was $2.24,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “This year, if we see just half of that decline it will bring us to below $2 per gallon.” Domestic oil companies, however, say they would be happier at $60 per barrel, which is the break-even point for production in some areas. A few popular shale formations, however, need prices of $80$90 a barrel to be economical. Still, the U.S. has come a long way in drilling technology in the past few decades. If low product prices continue, the industry probably will be able to develop less costly methods to reach trapped hydrocarbons, some analysts say. As for global markets, it’s anyone’s guess as to when they will turn around. China appears to be taking a breather after years of double-digit growth, and problems in Greece and Russia haven’t helped U.S. exporters or large banks. Even though the U.S. has not exactly been going gangbusters, it has been stronger than many other countries. But that inequity poses its own hurdles. “The strong dollar has been hurting U.S. manufacturers,” noted Ball. “It makes our goods more expensive over there.” As for Greece, about all that U.S investors can do is hope the country fixes its issues as quickly as possible, Colbert said. China, though, may be facing even bigger issues, he said. “China’s current slump is actually a lot more serious than many people think,” Colbert said. “Its debt levels are high.” Interest rates are another economic issue with no easy answer. Federal Reserve chair Janet Yellen has been walking a tightrope about ending the central bank’s propping up of the economy — the policy of so-called “quantitative easing” — that has kept rates artificially low.

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CLIENT-FOCUSED DESIGN FOR THE PAST 25 YEARS.

The Fed has been concerned that any fast jump in rates — which have sunk to negligible levels — could cause a spike in inflation and bring on another recession. At the same time,Yellen can’t keep a lid on rates forever. It remains to be seen what a small upward creep in rates would do. “But if interest rates go up significantly, it could cut off the stock market at the knees,” said Jake Dollarhide, CEO of Longbow Asset Management. The Dow Jones Industrial Average already has had a volatile year, posting a loss in the first half before starting to pick up a little. If Yellen can manage only a small rate increase, the market could end the year growing at a 4 percent to 5 percent pace, Dollarhide said. But there is some worry about another correction — defined as a drop in the market of 10 percent — this year or in 2016. And, if things get too bleak there could be a bear market — persistently falling stocks —sometime in the next two to five years, Dollarhide said. If the U.S. gets a few breaks, though, and the global situation does not worsen, the market could instead record a decent couple of years, he said. One thing in its favor right now is that there are few other options in which people can put their money. Oil stocks, which have been hit hard by the decline in product prices, could be worth a look by more adventurous investors, the analyst said. “The energy market is going to continue to be choppy for a while,” Dollarhide said. “This year alone, the shares of oil companies have been up and down about three times. “I’d be cautious, but there are some great buys out there.” Safer bets may be found in health care, consumer staples and telecom, the analyst said. Investors also may want to look at firms that offer “disruptive technologies,”

or developments that drastically change a market, such as cell phones and cloud computing have. This is a very risky area, though, and one that can see large traditional corporations hurt as much as some maverick small firms are helped. The biggest wild card in trying to plan for 2016 may be the fact that it’s an election year, Dollarhide said. “You just don’t know what’s going to happen or how the new leaders will be received,” he said. Ball said that while the nation’s growth may be slow in historical terms, it should be steady. “Watch out for oil prices, though,” Ball said. “It looks like they could stay below $48 or so. Our domestic companies really need $60 to $68,” the economist said. As for employment, many economists do see some overall improvement. By midyear, U.S. companies were hiring at a pace of 230,000 jobs per month, up from an average of 217,000 earlier in 2015. Mark Zandi, chief economist of Moody’s Analytics, is one of the more optimistic analysts. He is forecasting the U.S. economy will add 250,000 jobs a month for the second half of the year.That would be just below the 260,000 added in 2014, a 15-year high. This should happen even though oil companies will end the year having cut staffs by an average of 15,000 people a month. Zandi said he noticed that the sharp monthly decline in the U.S. rig count began to moderate by mid-summer, which he took as a good sign. Other economists note that hiring is up considerably in the home construction industry. Consumers seem to be making up for a period during the last recession when they put off home purchases. Some analysts are more pessimistic. Nariman Behravesh, chief economist of IHS Global Insight, is one. He forecasts an average gain of 200,000 jobs monthly for the second half of the year. The strong dollar could continue to limit exports, he said.

One big worry is that while employers may be hiring, starting pay tends to be weak and many business still are not giving significant raises. Wages and salaries in the U.S., in fact, rose only 0.2 percent in the second quarter — the slowest pace on record. The low number means employers are still skittish about their prospects for at least the shorter term. Wages and salaries make up 70 percent of total employment expenses. U.S. job openings climbed in May to 5.36 million, the highest in records dating to the end of 2000, according to a Bloomberg News report that cited Labor Department data. There are about 1.6 Americans per available position, matching the lowest level since September 2007. A National Federation of business survey showed that small businesses, in particular, aren’t planning on raising pay anytime soon. Only 11 percent of managers in June said they plan to boost salaries to attract and retain workers, the fewest since January 2014. Still, the U.S unemployment rate fell to 5.3 percent in June, the best since April 2008. It also is approaching the 5 percent-to-5.2 percent range that the government now considers to be full employment. Even so, many workers complain they are underemployed, and others say too many businesses are filling their ranks with cheaper part-time help. “The job market has not been as robust as we had hoped,” Dauffenbach said of the mixed numbers. “We need more productivity gains from U.S. workers, and we need to see more people working and employers working them longer hours.” Even a moderate improvement in wages would be welcome, if it could be sustained, he said. “Just averaging a 2 percent annual rise in personal income means you’d double your salary in 35 years,” Dauffenbach said. •

{FACT} One of the largest freestanding statues in the world, the Golden Driller is a symbol of Tulsa’s oil history and guards the entrance to Expo Square. The Driller has appeared in various forms over the years, but the current model is 76 feet tall, weighs 43,500 pounds and has a big-and-tall belt size of 48 feet in circumference. Shoe size is a hard-to-fit 393DDD. 18

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

OFFICE MARKET OVERVIEW

SEEKING STABILITY At mid-year 2015, commercial real estate investors, brokers and analysts have all eyes on the oil and gas industry. Rumblings of news related to large Tulsa firms and potential company sales and bankruptcies keep these groups alert to the potential for large pockets of available office space, not to mention the larger community effects such sales and/or bankruptcies would have on Tulsa.

The office survey data in this report includes 194 office buildings for a total of 23,297,553 square feet. While the overall market has a 19.2 percent vacancy rate, it is clear that the Class A submarket clearly receives the most attention and deal flow with a vacancy rate of only 5.1 percent. Over the past reporting period, Class A activity for direct deals and sublease space has garnered the most activity from office leasing.

by TANDA FRANCIS 21

Occupancy and leasing activity are driven by job growth, the greatest driver of demand for office space.

500,000

22%

400,000

20%

300,000

18%

200,000

16%

100,000

14%

12%

-100,000

10% 2013 Q2

2013 Q4

2014 Q2

to zero multi-tenant new space under way at the time of this writing. Tenants considering relocation are focused on a flight to quality, and the last year or two proved that with moves to American Plaza and the Geophysical Resource Center. Tenants continue to look for updated and improved common areas in those more mature buildings and seek the on-site amenities that help them attract and retain a talented employee base as well as enhance their own corporate image. The Historical Vacancy & Net Absorption does not reflect any large surge of lease-up/absorption over the past 18 months. The large absorption indicated in second quarter, 2013 was largely due to Cimarex moving into One Place Tower. We will see some newly created vacancy in this next reporting cycle with the vacancies incurred from those tenants who relocated to the Geophysical Resource Campus and the Unit Corp. relocation. While the CBD has several large blocks of office space, and an enthusiasm

2014 Q4

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

2015 Q2

H I S TO R I C A L B L O C K S O F S PAC E 150

120

2011

2012

2013

100K

50-100K

2014

2015

25-50K

spurred by growth in the downtown area from residential developers, retailers and hoteliers, where do the tenants of these large spaces park? Conversation is frequent regarding conceptual garage developments in the CBD proper. Speculation also continues as to current CBD vacant office space being re-captured for residential development.

{FACT} Opened in 1927, the Tulsa Zoo comprises 85 acres in Mohawk Park. The nonprofit zoo has 2,600 animals and attracts 600,000 people annually. Featured exhibits include elephants, penguins and sea lions. 22

Vacancy Rate (%)

H I S TO R I C A L VAC A N C Y & NET ABSORPTION Net Absorption (SF)

Over the course of the past 15 years, Tulsa office market occupancy rates maintained a range of 75-86 percent with the highest leased data recorded during that time by this group to be 86.2 percent in 2000. The lowest figures were in the 2011-2012 period. Compare these vacancy rates to the present U.S. vacancy rate of 15.9 percent (per the National Association of Realtors, Commercial Real Estate Market Trends Q2:2015 report). Even with new construction adding to the Class A office space roster, and those rent rates over $20 per square foot, tenants have gravitated quickly to this new product — most recently, building two at the Geophysical Resource Campus. While deemed to be “spec” construction in last year’s report, the new building opened in the summer of 2015 at over 50 percent leased. New construction will have a strong impact on Class B suburban office space in mid-2016 as Unit Corp. vacates approximately 90,000 square feet in the Kensington Tower to occupy its new office building in west Tulsa. While not “new” construction, back to the market is the former Avanti building. While “mothballed” in recent years, the CBD, 80,000 square foot “new” office building is remodeled, renamed the 8:10 Building, and leased up to 73 percent occupancy. Sublease activity for medium-sized deals has shown good success in Class A space over the past 12 months. Competition continues to be fierce to retain and attract tenants, with little

Sub market

Price

PSF

Union Pines

East

134,298

$12.4m

$92.70

Hartford Building

CBD

74,770

$2.4m

$32.10

3000 Center

Midtown

57,860

$2.3m

$41.05

Southern Oaks

South

31,728

$1.8m

$58.31

2800 Center

Midtown

35,846

$1.2m

$34.17

While there continue to be few notable, third-party sale transactions, there were more in the last 12 months than the average of one per year for the previous five years. The Hartford Building, 74,772 SF and sold by the City of Tulsa’s Development Authority, is not in our database at this time (as it was vacated by the City of Tulsa several years ago) but is now being marketed as office space for lease at $14/sf, full service. 2800 Center sold to the Petrous Group in this reporting period, and they have since razed the building and are offering four lots for sale, one acre each.

Occupancy and leasing activity are driven by job growth, the greatest driver of demand for office space. The Oklahoma Employment Security Commission reported that Metro Tulsa’s jobless rate was 4.5 percent in July 2015, compared to 4.6 percent in July 2014. Compare Metro Tulsa’s current 4.5 percent unemployment to historical cycles in Tulsa’s real estate industry when those figures were 2.9 percent in 2000. While current figures are considerably lower than the U.S. figures of 11.1 percent, the predicted trend for growth would appear to be slow. Only one with a crystal ball could predict how Tulsa’s employment base will be affected by the oil and gas industry. Even though other industries key to Tulsa’s employment base — including higher education and medical/health care — are predicted to continue to be a growing employment force in Tulsa, the city will continue to rely on those energy market industries for stability. •

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TRENDS

TRENDS IN SQUARE FEET PER OFFICE EMPLOYEE Maximizing the efficiency of office space while adjusting to hiring trends.

by ADRIAN PONSEN, SENIOR REAL ESTATE ECONOMIST, COSTAR PORTFOLIO STRATEGY

Square footage per employee (the usage factor) is clearly in long-term decline, as firms maximize the efficiency of their office space. Yet this figure is also highly cyclical. During a recession, tenants are able to cut workers more easily than they are able to break or shrink their leases. As a result, square footage per worker often jumps during recessions. That is one reason why absorption was relatively weak from 2010 through 2013; Companies had empty cubicles to spare as the economic recovery began, so they didn’t need to expand their office footprints even as they began hiring more workers. In order to gauge which segments of the market (Class A, B or C) or industries are seeing the greatest push for space efficiencies, commercial real estate profes-

sionals like to look at changes in the size of average leases over time. The average size of new leases has declined by 8 percent over the past 10 years. But the Class B and C markets have really borne the brunt of this trend. This is because, when it comes to front office locations (i.e., Class A space), many companies are still focused on maintaining spacious layouts with a generous array of amenities like large lobbies and conference rooms that can serve as a marketing tool and help companies recruit and retain top talent by offering a luxurious work environment. Meanwhile, in the Class B and C markets, where more back office operations are concentrated, lease sizes are shrinking rapidly, as employers cut costs by reducing excess space, pushing employees closer together.

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

In slower-growth industries such as accounting, government, insurance and law, leases also are shrinking more rapidly, as employers are focused less on rapid expansion and more on cost cutting. Office-using industries that are adding jobs most rapidly over the long term, such as technology, media and finance, are seeing leases shrink more slowly. In the fastest-growing sector of the economy, technology, shown here as “computers/data processing,” the average lease size actually increased by 21 percent over the past 10 years. This is partly because competition among employers for technology workers is so steep, employers in the industry need to offer spacious, amenity-rich office space to attract and retain employees. From: NAIOP Development Magazine, Spring 2015

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2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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ZONES Skiatook Lake

Broken Arrow

CBD

Central

East

Midtown

North

Northwest

Northeast

Owasso

South

Southwest

West

Owasso

E 126th St N E 116th St N 52nd W Ave

Sperry

Valley Park

E 98th St N

Northwest

86th St. N.

78th St N



Gundys Airport

Owasso

U. S

76th St. N.

66th St. N.

21st St.

Riverside Dr

Carbondale



Harvey Young Airport

Union

Rive

71st St. Corridor

Casino Oral Roberts District University



Mingo Valley Expwy

61st St.

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 nsas

Tu rne rT urn pik e

412

169

75 Richard Loyd Cre ek Tur npi ke

31st St.

41st St. Corridor

Arka

Bowden

66 S. U.

Midtown

Historic U.S. 66

Catoosa

West

W 61st St.

ic or st Hi

Central

244

Oakhurst

Apache St.

Garnett

Creek Turnpike

CBD

36th St. N.

Northeast Pine St.

244

Crosstown Expwy

Tulsa

Sand Springs

Ex pw y

Dawson

Keystone Expwy

Tulsa International Airport

46th St. N.

Creek Turnp ike

Pkwy LL Tisdale

Gli cre ase

Mingo Valley Expwy



Mowhawk

Verdigris

56th St. N.

North

Skyline Ridge

E 530 Rd

169

Turley

Hi st or ic

68th W Ave

Limestone

SOURCE: XCELIGENT 27

PROJECT NAME ADDRESS CITY / STATE / ZIP

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

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

BROKEN ARROW BA

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

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

36,231 2 2000, 2002

5,150 9,353 0

$17 74.2%

PHOENIX CENTER 2341 W ALBANY BROKEN ARROW, OK 74012

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

28,000 1 2002

3,000 3,000 0

$7.50 89.3%

TIMBERCREST PARK 1700 W ALBANY ST BROKEN ARROW, OK 74012

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

36,000 2 1987

12,000 12,000 0

$9 66.7%

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

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

24,071 1 2008

4,305 7,057 0

$12.50 70.7%

CBD

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

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

451,355 28 1972

9,511 31,372 0

$17.50 93%

CBD

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

CB RICHARD ELLIS/OK / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

128,000 12 1954

128,000 128,000 0

$12.50 0%

CBD

317 MAIN MALL BUILDING 317 S MAIN TULSA, OK 74103

BOSTON AVENUE MGMT / DONNA DAVIS / 918-584-1414 320 S. BOSTON, SUITE 1130 TULSA, OK 74103-4721

30,878 4 1907

30,878 7,000 16,625

$13 77.3%

CBD

320 SOUTH BOSTON BUILDING 320 S BOSTON TULSA, OK 74103

BOSTON AVENUE MGMT / DONNA DAVIS / 918-584-1414 320 S. BOSTON, SUITE 1130 TULSA, OK 74103-4721

397,000 24 1917

32,000 100,000 0

$16 74.8%

CBD

705 S ELGIN ST TULSA, OK 74120

83,468 3 1950

4,717 10,235 0

$11 87.7%

CBD

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

KPM / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, STE 1600 TULSA, OK 74103

288,776 32 1967/1985

10,357 41,473 0

$14 85.6%

CBD

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

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

1,140,684 52 1978

0 0 0

$25.00 100%

CBD

BEACON BUILDING 406 S BOULDER TULSA, OK 74103

BEACON BUILDING MANAGEMENT / 918-599-0022

115,237 9 1928

11,500 15,000 0

$12.50 87%

CBD

BOVAIRD BUILDING 823 S DETROIT AVE TULSA, OK 74103

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

70,000 4 1970

5,000 5,000 0

$11.50 92.9%

CBD

CHAMBER OF COMMERCE 616 S BOSTON TULSA, OK 74119

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

88,719 6 -

5,000 12,000 0

$10 86.5%

CBD

EXECUTIVE CENTER 201 W 5TH ST TULSA, OK 74103

KPM / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, STE 1600 TULSA, OK 74103

74,303 6 1975

11,990 36,909 0

$12 50.3%

CBD

FIRST PLACE TOWER

CBD

• One of the most recognizable buildings in Tulsa’s Skyline • 10,000 and 20,000 SF floor plates • 24/7 on-site security and maintenance • ADA compatible, card-accessed garage parking attached via tunnel • Generous TI allowance available to credit tenants • On-site management, restaurant, and salon • Directly across the street from Courtyard Marriot Hotel • 41st floor event and conference ballroom for tenant use

15 E 5TH ST

Contact: Daniel Regan, KPM 918-581-3300 CBD

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

KPM / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, STE 1600 TULSA, OK 74103

624,374 41 1956-1973

154,159 270,193 0

$14 56.7%

CBD

FORMER PARKER DRILLING BUILDING 8 E. 3RD STREET TULSA, OK 74103

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

59,000 10 1937

5,900 59,000 0

$11 0%

CBD

FOUR HUNDRED BUILDING 400 S BOSTON TULSA, OK 74103

RIVER CITY DEV. / JEREMY CIMMERER / 918-584-0331 427 S. BOSTON STE. 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

40,000 8 1923

30,000 30,000 0

$8.50 25%

NOTE EXPANDED LISTING 28

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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

KENNEDY BUILDING 321 S BOSTON TULSA, OK 74103

BOSTON AVENUE MGMT / DONNA DAVIS / 918-584-1414 320 S. BOSTON, SUITE 1130 TULSA, OK 74103-4721

165,202 10 1917/1980

3,000 16,000 0

$13 90.3%

CBD

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

KPM / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, STE 1600 TULSA, OK 74103

51,788 3 1930

2,350 20,409 0

$12 60.6%

CBD

MID CONTINENT TOWER 320 S BOSTON TULSA, OK 74103

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

321,500 36 1917/1984

26,000 38,000 0

$18.50 88.2%

CBD

ONE PLACE BUILDING 201 S. DENVER AVENUE TULSA, OK 74103

ONE PROPERTY MANAGEMENT / GARRETT MAHANEY / 918-574-8776 201 S. DENVER AVE, BOX 1, TULSA, OK 74103

49,386 5 2012

0 0 0

CBD

ONE TECHNOLOGY CENTER 100 S. CINNCINNATI TULSA, OK 74103

CB RICHARD ELLIS/OK / ANGELA WEST / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

626,802 15 2002

96,943 145,819 0

$16 76.7%

CBD

PARK CENTRE 525 S MAIN TULSA, OK 74103

KPM / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, STE 1600 TULSA, OK 74103

180,651 14 1973

14,330 51,237 0

$12.50 71.6%

CBD

PETROLEUM CLUB BUILDING 601 S BOULDER TULSA, OK 74119

KPM / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, STE 1600 TULSA, OK 74103

118,083 16 1962/95

9,325 55,700 0

$12.50 52.8%

CBD

PHILCADE NORTH 501 S BOSTON AVE TULSA, OK 74103

KPM / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, STE 1600 TULSA, OK 74103

272,000 14 1929

69,967 181,796 0

$12 33.2%

CBD

PHILCADE SOUTH 519 S. BOSTON AVE TULSA, OK 74103

KPM / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, STE 1600 TULSA, OK 74103

158,295 13 1967

158,295 158,295 0

$12 0%

CBD

PHILTOWER BUILDING 427 S BOSTON TULSA, OK 74103

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

130,000 23 1928

10,000 31,760 0

$12 75.6%

CBD

PYTHIAN BUILDING 423 S BOULDER TULSA, OK 74103

KPM / DARLA ELLIOTT / 918-581-3300 15 EAST 5TH ST, STE 1600 TULSA, OK 74103

43,248 4 1930

1,600 13,268 0

$12 69.3%

CBD

RENAISSANCE BUILDING 515 S MAIN TULSA, OK 74103

FLORIS HILLS / FLORIS HILLS / 918-585-2751 515 SOUTH 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

90,950 10 1919

27,000 31,574 0

$9 65.3%

CBD

SUN BUILDING 907 S DETROIT TULSA, OK 74120

COATES COMMERCIAL PROPERTIES / ANDERLE KHALED / 918-610-0700 4111 S. DARLINGTON, STE 640, TULSA, OK 74135

250,707 12 1954

90,000 91,974 0

$10.50 63.3%

CBD

THOMPSON BLDG. 20 E 5TH ST TULSA, OK 74103

NAI PETROUS, INC. / PAM AVISON / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

133,959 15 1928

8,460 34,703 0

$12.50 74.1%

CBD

100%

WILLIAMS CENTER TOWERS I & II • • • • •

One West 3rd Street & Two West 3rd Street

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

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

312,675 17 1982

5,733 23,129 0

$15 92.6%

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

16,078 19,078 0

$16 95.8%

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

$22.50 100%

NOTE EXPANDED LISTING 29

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 CENTRAL

DOLLAR THRIFTY PLAZA - EAST TOWER 5330 E. 31ST STREET TULSA, OK 74135

CB RICHARD ELLIS/OK / ANGELA WEST / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

116,853 12 1972

116,853 116,853 0

$14.50 0%

CENTRAL

DOLLAR THRIFTY PLAZA - WEST TOWER 5310 E 31ST ST TULSA, OK 74135

CB RICHARD ELLIS/OK / ANGELA WEST / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

128,907 13 1973

128,907 128,907 0

$14.50 0%

CENTRAL

DOLLAR THRIFTY PLAZA RESERVATIONS CENTER 5350 E 31ST ST, TULSA, OK 74135

CB RICHARD ELLIS/OK / ANGELA WEST / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

31,461 3 1972

31,461 31,461 0

$14.50 0%

CENTRAL

GSA BUILDING 7906 E 33RD ST TULSA, OK 74145

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

23,979 1 -

0 0 0

$0 100%

CENTRAL

GUARANTY BLDG. 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

18,500 27,206 0

$15.00 72.3%

CENTRAL

TECHRIDGE OFFICE PARK

• • • • • • • • •

9820 East 41st Street

Tulsa’s only suburban office park 13 quality office buildings From 200 to 50,000 SF 39+ beautifully landscaped areas On-site management and leasing 6 miles from Tulsa International Airport 9 minutes from downtown Abundant free parking Quick immediate access to Hwy 169 and Hwy 51

Contact: Marco Placencia or Monty Berry, 918-280-9900 Equitas Realty Advisors, LLC CENTRAL

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

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

54,464 4 1980

8,370 16,528 1,531

$12.50 69.7%

CENTRAL

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

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

53,882 4 1980

4,488 7,027 0

$12.50 87%

CENTRAL

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

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

52,520 2 1979

0 0 0

$12.50 100%

CENTRAL

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

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

36,530 2 1978

2,619 8,026 0

$12.50 78%

CENTRAL

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

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

72,180 2 1978

9,171 9,171 0

$12.50 87.3%

CENTRAL

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

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

62,560 2 1981

1,832 14,048 0

$12.50 77.5%

CENTRAL

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

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

33,788 2 1979

9,300 9,300 0

$12.50 72.5%

CENTRAL

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

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

29,030 2 1974

1,127 3,176 0

$12.50 89.1%

CENTRAL

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

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

38,730 2 1979

20,533 20,533 0

$12.50 47%

CENTRAL

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

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

46,128 2 1975

2,044 5,020 0

$12.50 89.1%

CENTRAL

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

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

43,895 2 1977

1,809 2,451 0

$12.50 94.4%

CENTRAL

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

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

58,502 2 1982

52,661 54,733 0

$12.50 6.4%

NOTE EXPANDED LISTING 30

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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

EAST East

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

4500 EXCHANGE TOWER 4500 South Garnett Road

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

4500 EXCHANGE TOWER 4500 S GARNETT TULSA, OK 74146

EAST

CORPORATE WOODS

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

157,813 10 1982 • • • • • • •

4500 South 129th East Avenue

CORPORATE WOODS 4500 S 129 E AVE TULSA, OK 74134

EAST

EASTGATE METROPLEX

NEWMARK GRUBB LEVY STRANGE BEFFORT / JARED ANDRESEN / 918-481-3200 2021 S. LEWIS , STE 410 TULSA, OK 74104-5710

Levy Strange Bef fort EASTGATE METROPLEX 14002 E 21ST ST TULSA, OK 74134

EAST

EXCHANGE CENTER

On-site Grill Common Area Conference Rooms Locker Rooms/Jogging Trail/Fitness Center Monument Sign Loading Docks Abundant Parking Connectivity: Verizon, AT&T, EasyTel, TW Telecom, Cox

553,000 3 1980

22,543 22,543 0

$16.50 95.9%

• True mixed-use development designed for office, retail, medical, educational and municipality use • Suitable for large and small tenant use - 824 to 361,349 SF available • 5,000+ parking spaces on-site • Redundant power and fiber feeds • 24 hour security with late night security escorts provided

14002 East 21st Street

EAST

$14.50 89.2%

Contact: Jared Andresen, Newmark Grubb Levy Strange Beffort, 918-481-3200

Levy Strange Bef fort EAST

7,884 17,102 0

Contact: Jared Andresen Newmark Grubb Levy Strange Beffort, 918-481-3200 NEWMARK GRUBB LEVY STRANGE BEFFORT / JARED ANDRESEN / 918-481-3200 2021 S. LEWIS , STE 410, TULSA, OK 74104-5710

1,055,798 3 1985

277,326 425,006 0

$14 59.7%

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

4606-4608 South Garnett Road

Levy Strange Bef fort

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

EAST

EXCHANGE CENTER 4606-08 S GARNETT TULSA, OK 74146

NEWMARK GRUBB LEVY STRANGE BEFFORT / WARREN STEWART / 918-481-3200 2021 S. LEWIS , STE 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

117,000 2 -

40,000 40,000 0

$12 65.8%

EAST

TOWNE CENTRE

• • • • • • •

10810-10830 East 45th Street

Three (3) Building Complex Excellent access to Highway 169 and Broken Arrow Expressway Ten minutes from Broken Arrow or downtown Individual HVAC controls Shops and restaurants close by Electronic card access system Large efficient floor plates

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

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

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

179,827 3 1980

8,300 50,917 0

$12.50 71.7%

EAST

UNION PINES 4700 S GARNETT TULSA, OK 74146

US CELLULAR CORP. / 773-399-8900

134,298 2 1999

0 0 0

$15.50 100%

NOTE EXPANDED LISTING 31

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 MIDTOWN

1307 S BOULDER TULSA, OK 74119

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

44,360 4 1999

3,500 13,000 0

$18 70.7%

MIDTOWN

2021 LEWIS CENTER 2021 S LEWIS TULSA, OK 74104

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

87,346 7 1985

3,100 5,000 0

$18 94.3%

MIDTOWN

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

CLARK INTERESTS / MANAGER / 918-749-9998

39,842 2 1982

5,658 5,658 0

$15.50 85.8%

MIDTOWN

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

CB RICHARD ELLIS/OK / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

57,218 5 1967

1,252 3,004 0

$15.00 94.7%

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

3,679 27,681 0

$10.50 50%

MIDTOWN

4415 S. HARVARD 4415 S HARVARD TULSA, OK 74135

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

44,500 2 1980

3,855 9,787 0

$15 78%

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

CB RICHARD ELLIS/OK / TERRY PAYNE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

521,802 15 1960/1980

12,847 25,327 0

$16.25 95.1%

MIDTOWN

CBRE OKLAHOMA BUILDING 1401 S. BOULDER TULSA, OK 74119

CB RICHARD ELLIS/OK / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

42,428 3 1954

11,213 11,213 11,213

$13 73.6%

MIDTOWN

COLUMBIA OFFICE 2651 E 21ST TULSA, OK 74114

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

33,176 5 1959

1,440 2,200 0

$15.00 93.4%

MIDTOWN

COMMERCE TOWER

• • • • • •

5801 East 41st Street

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

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

MIDTOWN

COMMERCE TOWER 5801 E 41ST TULSA, OK 74135

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

CORPORATE PLACE

93,735 10 1981

• • • • • •

5800 East Skelly Drive

9,100 20,644 0

$14 78%

Superb skyline views Conference Room Parking Garage On-Site Deli Electronic card access system Recently Renovated Lobby

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

CORPORATE PLACE 5800 E SKELLY DR TULSA, OK 74135

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

115,952 13 -

8,349 29,967 0

$13 74.2%

MIDTOWN

FOUNTAIN PLAZA 4815-4867 S SHERIDAN TULSA, OK 74145

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

74,530 1 1970

2,387 15,295 791

$11.50 79.5%

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

2,850 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

26,881 2

1,965 3,671 0

$14.50 86.3%

NOTE EXPANDED LISTING 32

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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 CENTER 3010 S HARVARD TULSA, OK 74114

CB RICHARD ELLIS/OK / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

46,490 4 1966

3,048 10,866 0

$12.50 76.6%

MIDTOWN

HARVARD GARDENS 4520 S HARVARD TULSA, OK 74135

HEC HOLDINGS LLC / 918-747-6063

23,219 2 1981

1,806 3,337 0

$15 85.6%

MIDTOWN

HARVARD TOWER 4815 S HARVARD TULSA, OK 74135

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

66,720 6 1969

3,222 19,000 0

$11.50 71.5%

MIDTOWN

INTERNATIONAL PLAZA

• • • • • • •

1350 South Boulder

Superb Location in the heart of downtown 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

tulsainternationalplaza.com

MIDTOWN

INTERNATIONAL PLAZA 1350 S BOULDER TULSA, OK 74119

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

116,232 12 1957

12,300 12,300 0

$15.50 89.4%

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

• Easy access to expressways and within 25 minutes of any point in Tulsa • Abundant free parking including covered executive parking • 24 hour card access system and CCTV • Individual thermostat controls • On-site management and after-hours security • Men’s and women’s locker rooms with showers • AT&T and Cox updated infrastructure • Common meeting area • Standby generator supports entire building in case of power outage Contact: Patrick Coates, CCIM, 918-610-0700 Coates Commercial Properties, LLC www.coatesproperties.com

1717 South Boulder Avenue

MIDTOWN

MAPCO PLAZA 1717 S BOULDER TULSA, OK 74119

COATES COMMERCIAL PROPERTIES / PATRICK COATES 918-610-0700 4111 S. DARLINGTON, STE 640 , TULSA, OK 74135

140,825 10 1983

0 0 0

$16.50 100%

MIDTOWN

MERIDIAN TOWER 5100 E SKELLY DR TULSA, OK 74135

CB RICHARD ELLIS/OK / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

202,612 10 1981

21,337 28,257 0

$20.00 86.1%

MIDTOWN

MIDWAY OFFICE 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

3,326 3,945 0

$13.50 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

3,673 11,633 0

$13.50 77.8%

MIDTOWN

REMINGTON TOWER 5810 E SKELLY DR TULSA, OK 74135

NAI PETROUS, INC. / PAM AVISON / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

90,009 18 1983

5,400 20,000 0

$16.50 77.8%

MIDTOWN

SOUTHLAND TOWER 4111 S DARLINGTON TULSA, OK 74135

COATES COMMERCIAL PROPERTIES / PATRICK COATES 918-610-0700 4111 S. DARLINGTON, STE 640 , TULSA, OK 74135

115,376 12 1995

5,102 18,947 6,259

$14.75 83.6%

MIDTOWN

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

UTICA SERVICES / RACHEL MCARTOR / 918-744-2965 1924 S. UTICA, STE. 800 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

111,000 10 2008

6,000 6,000 0

$25 94.6%

MIDTOWN

UTICA PLAZA 2100 S UTICA TULSA, OK 74114

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

48,588 5 1996

0 0 0

$19 100.0%

MIDTOWN

WESTERN FINANCIAL CENTER 4870 S LEWIS TULSA, OK 74105

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

77,868 2 1986

0 0 0

$15 100%

NOTE EXPANDED LISTING 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., STE. 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 PLACE, STE. 400 TULSA, OK 74133

860,000 2 1985

134,000 276,645 0

$9 67.8%

CB RICHARD ELLIS/OK / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

53,755 1 1969

9,000 22,088 0

$12.50 58.9%

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

24,000 2 2009

11,900 24,000 0

$21 0%

NORTHEAST NE

GREEN VALLEY CENTER 11333 E PINE ST TULSA, OK 74116

OWASSO OWASSO

FIRST BANK CENTER 8601 N GARNETT ROAD OWASSO, OK 74055

SOUTH SOUTH

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

51 YALE BUILDING 5110 South Yale

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

51 YALE BUILDING 5110 S YALE TULSA, OK 74135

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

69,960 5 1982

16,296 25,177 0

$14.50 64%

SOUTH

6655 LEWIS BUILDING 6655 LEWIS BUILDING TULSA, OK 74135

NAI PETROUS, INC. / MATT SURRETT / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

71,423 3 1986

7,050 7,050 0

$18.50 90.1%

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 6060 AMERICAN PLAZA TULSA, OK 74135

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

81,000 8 2013

2,936 5,287 14,000

$23.50 93.5%

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

6,751 20,611 0

$12 74.7%

SOUTH

AUTUMN OAKS 6846 S CANTON TULSA, OK 74136

NAI PETROUS, INC. / MATT SURRETT / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

117,590 7 1982

21,714 29,430 0

$15 75%

SOUTH

BANC FIRST BUILDING 7625 E 51ST TULSA, OK 74145

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

34,164 5 1983

0 0 0

SOUTH

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

CB RICHARD ELLIS/OK / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

124,464 8 1985

5,743 16,717 0

$19 86.6%

SOUTH

BRADEN PARK 7170 S BRADEN TULSA, OK 74136

CB RICHARD ELLIS/OK / TERRY PAYNE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

25,408

2,183 2,911 0

$14 88.5%

100%

NOTE EXPANDED LISTING 34

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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

BRADFORD PLACE 9175 S YALE TULSA, OK 74137

NAI PETROUS, INC. / PAM AVISON / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

30,000 3 2002

0 0 0

$18.50 100%

SOUTH

BRANIFF MART 5401 S SHERIDAN AVE TULSA, OK 74145

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

33,600 1 1978

3,000 7,500 0

$10 75.5%

SOUTH

BRIDGEPORT III

• • • •

6450 South Lewis

Locally Owned and Managed Owner Occupied Convenient South Tulsa Location Class A Construction

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

SOUTH

BRIDGEPORT III 6450 S LEWIS TULSA, OK 74136

SOUTH

CITYPLEX TOWERS

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

46,913 3 1986

$14 83.2%

7,887 7,887 0

• 24/7 operations and security • On-site food court, conference and banquet facilities, meeting rooms, auditoriums, convenience store • Two primary electrical fees with automatic transfer • Dual entrance sonet ring fiber optics • On-site daycare with early learning focus • Additional development sites for build-to-suit

2488 East 81st Street

Contact Trinity Corporate Real Estate Advisors: Michael Predovic 918-557-8585 or Derek Bateman 918-493-8470 SOUTH

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

SOUTH

COPPER OAKS (PHASES I & II)

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

1,592,586 203060 1981

• • • • •

7010-7060 South Yale Avenue

200,000 621,000 0

$14 61%

Office complex consisting of 4 different buildings One of South Tulsa’s best locations Close to restaurants, shopping, medical and more Multiple leasing options available On-site banking

Contact: Jared Andresen, Ken Tooman, SIOR, CSM Newmark Grubb Levi Strange Beffort 918-508-2800

Levy Strange Bef fort SOUTH

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

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

251,000 21 1983

11,000 30,758 0

$14.50 87.7%

SOUTH

CORPORATE OAKS 5555 E 71ST TULSA, OK 74136

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

52,257 3 1984

2,856 12,335 0

$14.50 76.4%

SOUTH

ETON SQUARE OFFICE CENTRE 8321 EAST 61ST STREET TULSA, OK 74133

CB RICHARD ELLIS/OK / LESLIE KIRKPATRICK / 918-665-3830 1401 SO BOULDER AVE., SUITE 100, TULSA, OK 74119-3648

40,442 2 1985

11,854 39,231 0

$11 3%

SOUTH

EXECUTIVE CENTERS I & II 7134 & 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 #1 7136 S YALE TULSA, OK 74136

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

73,831 5 1982

1,729 3,497 0

$16 95.3%

SOUTH

EXECUTIVE CENTER #2 7134 S YALE TULSA, OK 74136

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

112,411 9 1984

14,180 24,146 0

$16.50 78.5%

NOTE EXPANDED LISTING 35

PROJECT NAME ADDRESS CITY / STATE / ZIP

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

SIZE (RSF) FLOORS YEAR BUILT

CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE

GROSS RENTAL RATE % LEASED

SOUTH

FOX PLAZA 5416 S YALE TULSA, OK 74135

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

80,930 6 -

10,549 22,008 0

$12 72.8%

SOUTH

GEOPHYSICAL RESOURCE CAMPUS

• True Class A Building • Best mult-tenant office location in Tulsa • NGLSB maintains a video monitoring command center providing visual oversight of all property cameras 24/365 • Very efficient floor plates • Beautiful park setting • Close to Creek Turnpike • Free surface parking

8801 South Yale

Levy Strange Bef fort

Contact: Jared Andresen, Newmark Grubb Levy Strange Beffort, 918-481-3200

SOUTH

GEOPHYSICAL RESOURCE CAMPUS 8801 S YALE TULSA, OK 74137

NEWMARK GRUBB LEVY STRANGE BEFFORT / JARED ANDRESEN / 918-481-3200 2021 S. LEWIS , STE 410, TULSA, OK 74104-5710

102,000 5 1984

3,452 10,535 0

$21 89.7%

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

62,988 6 1982

4,868 5,961 0

$15.50 90.5%

SOUTH

INTERIM PLAZA 2828 E 51ST TULSA, OK 74105

WALMAN COMMERCIAL / JUSTIN BROWN 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145

20,062 4 1976

492 1,277 5,025

$12 93.6%

SOUTH

INTERNATIONAL TOWER 5200 S. YALE AVE. TULSA , OK 74135

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

32,836 7

2,768 15,345 0

$11 53.3%

SOUTH

KAISER BUILDING 6733 S YALE TULSA, OK 74136

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

54,900 5 1990

0 0 0

$13.50 100%

SOUTH

KENSINGTON BUSINESS CENTER 7130 S LEWIS TULSA, OK 74136

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

235,973 2 1984

21,000 28,000 0

$15 88.1%

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

44,000 82,000 0

$18.50 50.2%

SOUTH

LEWIS PARK 5319 S LEWIS TULSA, OK 74105

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

17,805 2 1985

0 0 0

$12.50 100%

SOUTH

LEWIS SQUARE OFFICE PARK 6202 S LEWIS TULSA, OK 74136

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

28,130 1 1981

1,947 1,947 0

$13 93.1%

SOUTH

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

27,160

1,928 1,928 0

$8.25 92.9%

SOUTH

1984 • • • • • •

MCJUNKIN RED MAN PLAZA 8023 East 63rd Place

• •

Class “A” Building Recently renovated granite lobby/common areas Fully Sprinklered On-Site Deli Easy walking distance to restaurants, shopping and banking Close proximity to Woodland Hills Mall, Doubletree Hotel and Southern Hills Country Club, Eton Square and Manchester Square Shopping Center Total Building Back-up Generator Electronic card access system

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

MCJUNKIN RED MAN PLAZA 8023 E 63RD PL TULSA, OK 74133

SOUTH

MIDFIRST BANK PLAZA

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

134,184 8 1982

• • • •

7050 South Yale Avenue

8,000 23,070 6,000

$16.50 82.8%

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

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

SOUTH

MIDFIRST BANK PLAZA 7050 S YALE TULSA, OK 74136

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

46,384 4 1979

0 0 0

$14.50 100%

NOTE EXPANDED LISTING 36

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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

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

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

36,005 2 1976

4,519 10,501 0

$11.50 70.8%

SOUTH

OKLAHOMA NATIONAL BANK BUILDING 8908 S. YALE TULSA, OK 74137

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

52,252 4 1984

4,390 4,727 0

$18 91%

SOUTH

ONB BANK BUILDING 8908 S. YALE AVE TULSA, OK 74137

CB RICHARD ELLIS/OK / LESLIE KIRKPATRICK / 918-665-3830 1401 SO BOULDER AVE., SUITE 100, TULSA, OK 74119-3648

53,177 4 1995

7,083 9,638 0

$18 81.9%

SOUTH

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

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

89,807 5 1981

1,748 4,436 0

$16.50 95.1%

SOUTH

OXFORD PLACE

• • • • • • •

6600 & 6666 S Sheridan

Superb South Tulsa Location Covered Parking Richly Appointed Entries and Common Areas Flexible Floor Plans Abundant Landscaping Major Remodel & Improvements Completed in 2013 See More of this Property at Paramounttulsa.com

Contact: Paramount Commercial Properties, LLC Alan Harju 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 • • • • • • •

9,090 21,277 0

$17 74.2%

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

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

PARK TOWERS 5314 S YALE TULSA, OK 74135

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

107,075 11 1981

3,120 3,120 0

$17 97%

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

6,376 8,411 0

$15 89.5%

SOUTH

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

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

45,683 4 1985

3,170 3,170 0

$14.00 93.1%

SOUTH

RICHMOND PLAZA 4200 East Skelly Drive

• • • •

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

SOUTH

RICHMOND PLAZA 4200 E SKELLY DR TULSA, OK 74135

SOUTH

RIVERBRIDGE OFFICE PARK

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

• • • • •

1323 East 71st Street

166,332 10 1983

2,692 2,692 0

$21.50 99%

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

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

RIVERBRIDGE OFFICE PARK 1323 E 71ST TULSA, OK 74136

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

68,000 4 1984

1,375 3,183 0

$14.50 95.3%

SOUTH

ROAD SCIENCE BUILDING 6502 S YALE AVE TULSA, OK 74136

NEWMARK GRUBB LEVY STRANGE BEFFORT / JARED ANDRESEN / 918-481-3200 2021 S. LEWIS , STE 410, TULSA, OK 74104-5710

187,912 3 1987

149,056 149,056 149,056

$12 20.7%

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

7,764 32,552 0

$10.50 51.0%

NOTE EXPANDED LISTING 37

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

SOUTHERN HILLS PLAZA 6218 S LEWIS TULSA, OK 74136

CB RICHARD ELLIS/OK / LESLIE KIRKPATRICK / 918-665-3830 1401 SO BOULDER AVE., SUITE 100, TULSA, OK 74119-3648

25,478 2 1973

3,091 6,641 0

$12 73.9%

SOUTH

SOUTHERN HILLS TOWER

• • • •

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

2431 East 61st Street

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

4,200 5,684 0

$21 96.3%

SOUTH

SOUTHERN OAKS 7335 S LEWIS TULSA, OK 74136

CB RICHARD ELLIS/OK / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

31,728 3 1985

4,311 14,459 0

$14 54.4%

SOUTH

SOUTHERN RIDGE

• • • • • • •

6506 South Lewis Avenue

Prime Locations near Souther 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

65,679 2 1984

4,347 13,991 0

$13 78.7%

SOUTH

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

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

55,780 2 1977

2,268 10,026 0

$12.50 82%

SOUTH

THERMAFIL BUILDING 5001 E 68TH ST TULSA, OK 74136

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

49,775 5 1985

17,000 11,594 0

$13.50 76.7%

SOUTH

• • • • • •

High Quality Building Fully Sprinklered 2 Floors Scenic Atrium Easy walking distance to restaurants, shopping and banking Close proximity to Woodland Hills Mall, Doubletree Hotel and Southern Hills Country Club • Electronic card access system Contact: Paradigm Realty Advisors, L.L.C., 918-665-1900

THREE MEMORIAL PLACE 7615 East 63rd Place

SOUTH

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

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

42,340 2 1982

4,404 7,757 0

$15 81.7%

SOUTH

TRIAD CENTER I 7666 E 61ST TULSA, OK 74133

CB RICHARD ELLIS/OK / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

146,945 6 1982

15,733 31,066 0

$16.50 78.9%

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

155,000 6 1986

52,000 89,557 0

$15 42.2%

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@mckoycompany.com SOUTH

WARREN PLACE ONE 6100 S YALE TULSA, OK 74136

GEMINI ROSEMONT REALTY SERVICES / KELLY MCKOY 918-403-9160 6100 S. YALE STE. 390, TULSA, OK 74136

470,025 20 1983

2,300 2,300

$22 99.5%

SOUTH

WARREN PLACE TWO 6120 S YALE TULSA, OK 74136

GEMINI ROSEMONT REALTY SERVICES / KELLY MCKOY 918-403-9160 6100 S. YALE STE. 390, TULSA, OK 74136

489,870 19 1986

44,000 74,787 22,391

$22 84.7%

NOTE EXPANDED LISTING 38

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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

YORKTOWN PLACE 6914 S YORKTOWN TULSA, OK 74136

NAI PETROUS, INC. / PAM AVISON / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

50,988 2 1987

5,511 13,824 0

$12 72.9%

SOUTH

BRIDGEPORT OFFICE PARK 6400 S LEWIS AVE. TULSA, OK 74136

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

36,000 2 1982

14,000 1,000 0

$12.50 97.2%

SOUTHWEST SW

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

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

58,000 6 2014

8,774 8,774 0

$22 84.9%

4848 OFFICE CENTER 4848 S 129TH E AVE. TULSA, OK 74134

ROBERSON FRANCIS COMPANY / GREG ROBERSON 918-660-0148 TULSA, OK, 74037

101,100 3 2000

0 0 0

100%

8:10 BUILDING 810 SOUTH CINCINNATI TULSA, OK 74119

TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / DEREK BATEMAN / 918-493-8470 2448 E. 81ST, STE. 188, TULSA, OK

80,000 6 2015

14,364 22,055 0

$16 72.4%

GATEWAY OFFICE PLAZA

• • • • • • •

US HWY 75 AT W 96TH ST

Available Spring 2016 Class A office: 4-story 85,000 SF Prime Location in Jenks, OK US Hwy 75 Frontage Available For Lease: 1st Floor 10,625 SF Available For Lease: 3rd Floor 10,625 SF Available For Lease: 4th Floor 21,250 SF

Contact: Scotty Harper or Garrett Mahaney Paine & Associates, 918-481-5380 SW

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

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

85,000 4 2015

21,250 42,500 0

$25.50 50%

NORTHWESTERN BUILDING 202 S CHEYENNE AVE TULSA, OK 74105

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-481-5380 5810 E. SKELLY DR., STE. 420 TULSA, OK 74135

54,473 5 2012

4,562 4,562 0

$25.50 91.6%

ONEOK 100 W 5TH TULSA, OK 74103

517,235 17 1984

0 0 0

$16.50 100%

PEACHTREE SQUARE 4157 S. HARVARD TULSA, OK

25,000 1980

0 0 0

$12.50 100%

RIVERWALK CROSSING

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

• Class A Office and Retail Space Available from 1,370 to 13,500 +/• Daytime Population within (3 miles) Trade Area: 22,851 • After Hours Security and Local On-Site Management • 1,300 Parking Spaces On-Site

300-100 RIVERWALK

Contact: Scotty Harper or Garrett Mahaney Paine & Associates, 918-481-5380 SW

RIVERWALK CROSSING 300-100 RIVERWALK JENKS, OK 74137

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

111,162 2 2015

11,700 13,500 0

$15.00 87.9%

WATERFORD PLAZA 9108 S SHERIDAN TULSA, OK 74133

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-481-5380 5810 E. SKELLY DR., STE. 420 TULSA, OK 74135

28,883 1 2007

8,993 11,193 0

$15.00 61.2%

NOTE EXPANDED LISTING 39

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

R E TA I L M A R K E T O V E R V I E W

TULSA TOUGH While retail sales have been relatively flat this year, a boost is expected to end 2015.

“Winter is Coming.” That was the conveyed message for the first two quarters of 2015. Retail sales, excluding food and automobiles had been almost flat for the majority of 2015, comparable to the dotcom recession. According to Bloomberg, “An early Memorial Day holiday that may have boosted sales in May at the expense of last month and a longer school year caused by the harsh winter probably contributed to the more subdued sales performance for the quarter. Stronger gains in incomes will probably be needed to give consumer spending, which accounts for almost 70 percent of the economy, a bigger lift heading into the second half of the year.”

by KATE THORP 41

RETAIL WOES: WHO’S THE NEXT RADIO SHACK? 3Q ago

2Q ago

1Q ago

TULSA RETAIL EXPANSIONS AND CLOSURES

Latest Q

-10 -15 -20 -25 Source: Factset Research Systems, Credit: Liyan Chen for Forbes

AmericanEagle Outfitters Abercrombie & Fitch hhgregg

Aeropostale Cabela’s Radio Shack

We are now experiencing that “lift” as a result of the needed income gains, drops in fuel prices and increased consumer confidence. Retail sales are on an upswing and are projected to continue throughout the holiday season. Overall, the retail market in Tulsa continues to realize minor, but steady improvements in vacancies, absorption and rental rates in 2015. Vacancy rates have dropped from 5.5 percent in the third and fourth quarters of 2014 and the first quarter of 2015 to 5.1 percent at the end of the second quarter of 2015. The Tulsa market is seeing an improvement in absorption numbers as well. In the second quarter of 2015, 336,950 square feet were absorbed, compared to 117,656 and 148,032 square feet for the third and fourth quarters of 2014, respectively. Rental rates have increased from an average of $9.72 per square foot in 2014 to $10.60 mid-year 2015. New construction rates range from $20-$48 per square foot. But the best part is that retailers want to be here. Tulsa has the attention of national retailers and they are coming en force. We may not be big enough for our own NBA team (Go Thunder!), but we’re cool enough for kate spade New York and Trader Joe’s. Tulsa continues to attract high-profile retailers making their first appearances in the Oklahoma market. Trader Joe’s, kate spade New York, Costco, Gander Mountain, Urban Outfitters and REI made their decisions to choose Tulsa over Oklahoma City based on the community’s strong financial demographic, “hip” vibe and urban feel. kate 42

E X PA N D I N G R E TA I L E R S

Same store sales percent change

-5

Dollar Tree

Radio Shack

-3

Mattress Firm

Panera

-1

Domino’s

Mattress King

-1

Dairy Queen

K-Mart

-1

Noodles & Co.

Luby’s

-1

Raising Cane’s

Starbuck’s

Walmart NM

spade found its home in Simon’s Woodland Hills Mall. On Brookside, Trader Joe’s 9,500-square-foot store is located at East 37th Street and South Peoria Avenue, is vertical and is set to open later this year. Costco will open the doors to its 148,000-square-foot building located at East 103rd Street and and South Memorial Drive later this year, as well. REI has completed negotiations with the City of Tulsa for their Riverside Drive location at East 71st Street. Gander Mountain, the anchor of The Walk at West 81st Street and Highway 75, and Urban Outfitters, a 9,000-square-foot redevelopment project on Brookside (four blocks north of Trader Joe’s) both experienced strong openings and continue to draw regional shoppers to the Tulsa market. In addition to the Oklahoma retail pioneers, Tulsa has or will welcome other notable retailers in 2015. Main Event opened its 49,000-square-foot entertainment center at Nickel Creek in April, creating an opportunity for overflow development from Tulsa Hills and The Walk at the bustling 61st to 81st streets and Highway 75 corridor. Bob Mills Furniture will make its entrance to the Tulsa market in the former Reasor’s space at East 71st Street and South Garnett Road. Furniture Factory Outlet absorbed the 30,000 square feet in Owasso, formerly known as The Market, and Academy Sports built a new 63,000-square-foot facility in Owasso, as well. Conn Appliances leased 39,000 square feet in the Admiral Place Shopping Center. Yutaka Gill and Sushi Buffet leased the former Furr’s Cafeteria space in The Farm Shopping Center, and

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

S H R I N K I N G R E TA I L E R S

Texas de Brazil will soon open its Tulsa location in Woodland Hills Mall. Kendra Scott at Utica Square, Osh Kosh B’Gosh at Woodland Hills Mall and Blaze Pizza at The Walk are also new to town. As we welcome some new retail faces and the expansion of existing brands in our market, others are exiting or at least decreasing their market footprints — such is the ebb and flow of retail. Dollar Tree, Dairy Queen, Noodles & Co., Domino’s, Raising Cane’s, Aldi and Mattress Firm are a few brands you will be seeing more of around town and in the sub-markets. Since its acquisition of Family Dollar, Dollar Tree is saturating the market with six new stores in 2015. Dairy Queen and Noodles & Co will open three stores this year. Domino’s has plans to have four new locations up and running by the first quarter of 2016. Raising Cane’s Chicken maintains its momentum into 2015 with two new stores. Aldi opened its newest location at The Walk and will infill space at Eton Square later this year. Mattress Firm continues to hold its No. 1 ranking in its industry with four new stores set to open in 2015. Conversely, Radio Shack will close six stores in Oklahoma, including three in Tulsa, and Mattress King closed one location so far. Panera Bread closed its East 71st Street and South Lewis Avenue location and K-Mart closed at East 51st Street and South Harvard Avenue. Luby’s ended its 25-year run at East 71st Street and Riverside Drive and Planet Fitness quickly made its move to absorb the space. An opening is planned for the fall. It appears that the much speculated

W H O ’ S - W H O O F N E W R E TA I L I N T U L S A

“plumbing issues” at the Admiral and Memorial Walmart will be resolved for its “re-opening.” While it closed five stores nationwide for the aforementioned plumbing issues, in the Tulsa market alone, Walmart will open four more sites. Three new Walmart Neighborhood Markets will call Owasso, Broken Arrow and Jenks home, and Catoosa finally got its supercenter at the under-construction Catoosa Hills Shopping Center, across from Cherokee Nation’s Hard Rock Hotel and Casino. Our tribes have been busy. Focusing on diversification, the Creek and Cherokee tribes have anteed up to the retail game in color. The Creek Nation, in conjunction with Onefire, will infuse $22 million into Riverwalk Crossing in Jenks, which it purchased in May 2015. The Flying Tee, a three-story, interactive golf and entertainment venue, will anchor the development, replacing the former RiverWalk Movies and kicking off the center’s revitalization. More restaurants and boutiques will follow. Just across the sand bars, on the Arkansas River’s east bank, the 5,000-square-foot It’s 5 o’Clock Somewhere bar opened its doors, representing the first “Margaritaville” branded entity of the Creek Nation’s Margaritaville Casino at River Spirit expansion. The Cherokee Nation continues to move forward with its $170 million retail and hospitality project, Cherokee Springs Plaza in Tahlequah, which will consist of 1.3 million square feet of mixed use space. There also are

big plans for land west of the Hard Rock Casino in Catoosa — 40-70,000 square feet of family-friendly restaurants, retail and entertainment will connect the casino to another potential 350,000 squarefoot project, the Cherokee Outlets. Speculation and controversy surrounding the outlet mall players has been swirling for some time. Cherokee Nation Business and Woodmont Outlets’ “Cherokee Outlets” is one of three proposed outlet mall projects in the Tulsa MSA. Simon Property Group had intended to construct a 350,000 square-foot project “Tulsa Premium Outlets” in west Tulsa, however their focus shifted to Jenks amid protests over their preferred site, adjacent to Turkey Mountain an urban wilderness area. They now have The River District property under contract, and the excess 100 acres is slated for additional retail development. The delay in securing a site seems to have given the Horizon Group hope that its 400,000 project “The Outlet Shoppes at Tulsa” will be the first to break ground — contingent upon some hefty “assistance” from the city, of course. Time to place your bets — will it be the Cherokees and Woodmont, Simon or Horizon? While the outlet mall race lingers, developers are busy with new centers. The Walk at West 81st Street and South Union Avenue is already nearing 100 percent while still under construction. Joining Gander Mountain and Aldi will be Chuy’s, Carmike Theater, Freddie’s Frozen Cus-

tard and Mathis Brother’s Sleep Center. Capitalizing on the momentum of the south Highway 75 corridor, Nickel Creek is pre-leasing with Main Event Entertainment as its anchor. Catoosa Hills at Interstate 44 and 193rd East Avenue is nearing completion, with Ross, Hibbett’s, GNC, Mattress Firm, PetCo, Rue 21, Panda Express and others lining up the tenant roster. There has been little momentum surrounding the Warren Theater’s opening at The Shoppes at Aspen Creek. Currently, shop space is offered for pre-leasing while junior anchors are being secured. Hillside Crossing in Broken Arrow is off to a good start after the opening of Sprouts last year. Starbucks, Mattress Firm, Noodles & Co and QuikTrip will be next to open their doors in the development. Currently, 444,297 square feet of retail space is under construction, adding to the 72,501,894 square feet of inventory in the Tulsa market. Retailers are taking advantage of redevelopment opportunities in some of Tulsa’s strongest trade areas, as well. The building that housed many failed restaurants at 9205 E. 71st St. was razed and replaced with a new building leased to Sleep Number and Noodles & Co. On the other side of town, the same developer purchased and demolished the Ritz Cabaret strip club at East 18th Street and South Yale Avenue to construct new spaces for Starbucks and Mattress Firm. The ever-popular Brookside has exciting changes in store. With the opening 43

D E V E L O P M E N T S P OT L I G H T

BROOKSIDE Trader Joe’s Urban Outfitters Reasor’s Arvest (Relocation)

HILLSIDE CROSSING Mattress Firm Starbuck’s Noodles & Co. QuikTrip BOK

THE WALK Gander Mountain Aldi Chuy’s Sleep Center Carmike Theater Freddie’s

of Urban Outfitters and Trader Joe’s, Brookside’s retail landscape is shifting to accommodate the higher demographic in the area. Reasor’s unveiled its fresh new concept in the former Albertson’s building at East 41st Street and South Peoria Avenue, placing three grocers within three blocks of each other. Henry Aberson’s purchase of The Consortium will bring even more upscale changes to the neighborhood. Cherry Street is getting a facelift, as well. A mixed-use building is under construction, replacing the old car wash. Noodles & Co and a local concept restaurant and pub will be located on the first floor. The tenants, as well as other Cherry Street retailers, will benefit from the building’s two-story parking garage, which will offer for-a-fee public parking. At “The Very Large Corner of Lewis and Admiral,” Whittier Square’s revitalization continues to swell with new restaurants and local retail concepts. Hoot Owl Coffee, Pancho Anaya Bakery, The Floral Bar and food truck festivals are part of its new draw. New and exciting things are happening in the CBD as well. The Boxyard is a planned retail, restaurant and entertainment development at East Third Street and South Frankfort Avenue that will be constructed with 30 shipping containers, some stacked for 2-story units with balconies, surrounding a central courtyard. This concept is seen in “trend-setting cities across the world,” according to the developers. Other retail trends channeling to Tulsa are omni-channel marketing and the reduction of the retail footprint. Consum-

CHERRY STREET

NICKEL CREEK

RIVERWALK CROSSING

CATOOSA HILLS

Noodles & Co. Roosevelt’s

Main Event Entertainment

The Flying Tee

Ross Petco Mattress Firm Hibbett’s GNC Great Clips Panda Express

ers continue to grow more disinterested in physical shopping as their connections to their personal electronic devices grow stronger. As a result, retailers have and continue to expand their e-commerce marketing. Omni-channel marketing provides shoppers with several means of engagement with retailers — they can still go to a brick-and-mortar store or flip through a catalog, but they can also logon to an online website, mobile app or social media to access the companies’ products and services, all at the touch of a button. Retailers are focused on the consumers’ demands for a more streamlined shopping experience. When you enter Nordstrom Rack at Woodland Plaza on East 71st Street, lines are rarely seen. Their employees bring the checkout to the shopper through the use of handheld devices. Reasor’s, Home Depot and Walmart are just a few Tulsa retailers that offer online shopping, apps and in-store pick-up. The focus on omni-channel marketing played a significant role in Macy’s decision to build a distribution center in our market. It has over 300,000 followers who are able to “shop, click, and drop” through its Instagram app alone. A Macy’s representative said, “We love this kind of sale, because the customer has already made her decision. She knows where to go in the store, and when she gets there, she almost always buys something else, spending 125 percent of her intended order.” Other retailers will continue to follow the trend of increasing distribution centers and reducing the size of their physical locations, although the need to maintain

a brick-and-mortar presence will still remain strong. Brick-and-mortar sells and Tulsa has seen some significant retail transactions this year. The 49,000 square foot Main Event Entertainment, located in the upcoming Nickel Creek retail development sold as a sale/leaseback for $9,286,000 to National Retail Properties out of Orlando, Florida. Walgreens at East 71st Street and South Sheridan Road sold for $3,402,000. The newly constructed, two-tenant Noodles & Co./Sleep Number in the Woodland Hills Mall corridor traded for $3,440,000. RealtyLink’s 53,210-squarefoot Virginia College at East 51st Street and South Peoria Avenue sold for $8,845,000 to a buyer from Stillwater, and GBR sold their 48,500-square-foot East Point Shopping Center for $6,500,000. The 14,102-square-foot Banknote Building, located at 119 S. Detroit Ave. sold for $2,700,000, and the 30,000-square-foot space that formerly housed The Market in Owasso sold for $2,250,000 immediately traded as a NNN investment with FFO as the tenant. This year continues to bring positive growth for the Tulsa market in increased absorption and lower vacancy rates, new and expanding retailers, exciting new construction and redevelopment projects, and strong investment sales. It was questionable, given the collapse in crude oil prices and subsequent local layoffs, whether Tulsa’s retail sector would continue to strengthen, but it has. As we saw during the last recession, although we definitely feel it,Tulsa seems to fare better than others when times get tough. •

{FACT} The Tulsa Drillers are the Double A affiliate of the Los Angeles Dodgers. The Drillers came to Tulsa from Lafayette, Louisiana, prior to the 1977 season. The team spent its first 26 years in Tulsa as a Texas Rangers affiliate before joining the Colorado Rockies organization in 2003. The Drillers play at downtown’s ONEOK Field. 44

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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

36,794 85.9% 1984

2,090 3,100 5,190

$9 $12 $2.95

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

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

42,000 100.0%

0 0 0

$8 $10 $1.32

BOARDWALK SHOPPING CENTER 915 N ELM AVE BROKEN ARROW, OK 74012

OFF MARKET

32,635 87.6% 1985

1,200 1,530 4,050

$9 $9 $1.80

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

37,412 48.9% 2008

1,200 9,750 19,103

$18 $18 $0

BROKEN ARROW TOWNE CENTRE

• • • • •

101st & Elm

Prime Location Located at 101st and Elm Ross Dress For Less, McDonalds, Applebee’s One of Broken Arrow’s largest retail intersections Large Parking Area

Contact: George O’Connor or Kevin O’Connor Mid America Realty, Inc., 918-299-0100

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 65.3%

1,050 16,016 32,038

$8 $11 $2.42

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

64,941 38.7% 1979

1,300 24,816 39,814

$10 $10 $1.35

FORMER ALBERTSON’S 3612 S ELM PLACE BROKEN ARROW, OK 74011

CB RICHARD ELLIS/OK / BEN GANZKOW / 918-665-3830 1401 S. BOULDER AVE., STE. 100 TULSA, OK 74119

59,000 48.4% 1982

10,000 30,450 30,450

$5.00 $6.00 $1.50

KENOSHA COMMERCIAL CENTER 4650 W KENOSHA BROKEN ARROW, OK 74012

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

26,577 87.4% 2006

900 2,145 3,345

$17.50 $17.50 $5.43

KENOSHA CROSSING 1208 E. KENOSHA BROKEN ARROW, OK 74012

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

20,000 79.9% 1998

1,401 2,615 4,016

$15

LAURENWOOD SQUARE 1002 S ASPEN BROKEN ARROW, OK 74012

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

42,763 83.0% 1985

100 4,319 7,270

$9 $8 $1.28

OAKWOOD PLAZA

• • • • • •

SE/C of 81st & Aspen

$1.54

Prime Location Lcated at 81st & Aspen (145th) High Traffic Counts Large Parking Area Great Visibility Full Service Salon, Offices, and Restaurants

Contact: George O’Connor or Kevin O’Connor Mid America Realty, Inc., 918-299-0100 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

69,902 72.6% 1976/2000

850 17,000 19,142

$8.50 $8.50 $2.28

PLAZA DEL SOL 9999 S MINGO RD TULSA, OK 74133

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

46,000 82.5% 2008

1,515 2,562 8,052

$20 $20 $3.80

QUAIL RUN 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

35,354 94.1% 1981

130 1,200 2,800

$9 $9 $1.17

REDBUD II 2409 W KENOSHA 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 0

$16 $18 $4.50

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

24,630 90.3% 2008

1,200 1,200 2,400

$20 $20 $1.50

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

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

48,300 0.0% 2010

1,400 10,000 48,300

$14 $24 $3

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

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

48,825 43.5% 2007

1,436 10,000 267,607

$15 $12 $2.50

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

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

28,450 88.6% 1984

975 1,300 3,250

$8 $12 $3.42

NOTE EXPANDED LISTING 45

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

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 85.8% 1985

100 3,000 5,055

$8.50 $8 $1.18

VANDEVER ACRES* 732 W NEW ORLEANS BROKEN ARROW, OK 74012

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

79,542 91.4% 1984

770 4,855 6,825

$12 $8.50 $2.63

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

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

58,921 76.0% -

5,670 8,467 14,157

$12 $7 $1.60

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

CB RICHARD ELLIS/OK / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

38,512 78.0%

8,487 8,487 8,487

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

NEWMARK GRUBB LEVY STRANGE BEFFORT / WARREN STEWART / 918-508-2803 2021 S. LEWIS, STE. 400, TULSA, OK 74104

35,000.00 63.4% 1985

1,500 4,509 12,800

$9 $9.50 $3.19

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

NAI PETROUS, INC. / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

36,250 100.0% 1982

2,000 4,250

CBD

ONE PLACE CIMAREX - RETAIL 202 S. CHEYENE TULSA, OK 74133

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-574-8776 201 S. DENVER AVE, BOX 1, TULSA, OK 74103

20,000 0.0% 2013

3,143 8,000 20,000

$25 $25 $6

CBD

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

PAINE & ASSOCIATES / GARRETT MAHANEY / 918-574-8776 201 S. DENVER AVE, BOX 1, TULSA, OK 74103

16,733 24.5% 2012

3,742 8,896 12,638

$28 $28 $5.46

$0.55

CBD

CENTRAL

1700 YALE MALL 1649 SOUTH YALE AVE TULSA, OK 74112

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

77,254 81.3% 1972/2014

1,293 4,533 14,451

$25 $20 $3.50

CENTRAL

401 SOUTH UTICA 401 S UTICA TULSA , OK 74104

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

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

CB RICHARD ELLIS/OK / 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

39,042 79.5% -

2,000 8,000 8,000

$7 $7 -

CENTRAL

EASTGATE SHOPPING CENTER 7800 E ADMIRAL TULSA, OK 74115

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

NAI PETROUS, INC. / 918-745-1133 5810 E. SKELLY DRIVE, STE. 1400 TULSA, OK 74135

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 76.0% 1975/88

3,200 10,650 10,650

$8.25 $7 $1.50

CENTRAL

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

80,737 0.0%

51,089 51,089 51,089

$15 $15

CENTRAL

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

20,300 83.9%

1,460 1,800 3,260

$10 $10 $0.90

CENTRAL

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

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

28,125 88.4% 1969

860 2,400 3,260

$8.50 $8.50 $0

CENTRAL

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

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

101,000 96.0% 1974/86

4,000 4,000 4,000

$9 $9 $0

CENTRAL

VILLAGE SQUARE 21ST & MEMORIAL TULSA, OK 74129

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

27,666 68.6% 1985

1,500 5,000 8,700

$8 $12

$0.50

NOTE EXPANDED LISTING 46

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

RETAIL | SEE ZONES PAGE 25

CENTRAL

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

CROSSBOW CENTER - REDEVELOPMENT 11101 E 41ST ST TULSA, OK 74146

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

86,683 71.6% 1976

1,350 23,030 24,600

$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

59,420 100.0% 1980

0 0 0

$7.50 $8 $0.65

EAST

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

57,755 93.0% 1975/2006

1,654 3,913 4,065

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 1116-1148 S GARNETT ST TULSA, OK 74128

SGF COMM. R.E. SERVICES / MARK SWADENER / 918-746-0405 5810 E. SKELLY DRIVE, SUITE 1700 TULSA, OK 74135

80,400 86.6% 1973

10,800 10,800 10,800

$8 $8 $0

EAST

SCISSORTAIL SQUARE 12737 E 41ST ST TULSA, OK 74146

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

57,844 53.1% 1983

1,147 8,138 27,140

EAST

TIFFANY PARK 21ST & GARNETT, S/W C TULSA, OK 74129

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

32,693 84.7% 1968

2,277 2,730 5,007

$8 $8 $0.50

EAST

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

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

57,605 100.0% 1985

0 0 0

$9 $4.50 $0.40

EAST

MIDTOWN MIDTOWN

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

BAUER & ASSOCIATES / VICKI TAPP / 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

ALLSTATE SHOPPING CENTER 7922-7982 E 41ST ST TULSA, OK 74145

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-392-7207 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

33,720 77.4% 1962

3,405 4,200 7,605

$9 $9

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

CB RICHARD ELLIS/OK / MARK ROONEY / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

25,050 92.9% 2000

1,785 1,785 1,785

$17 $17 $3

MIDTOWN

CROSSROADS SERVICE CENTER 41ST & SHERIDAN TULSA, OK 74135

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

38,572 100.0%

0 0 0

$8 $6

MIDTOWN

FONTANA 5100 S MEMORIAL TULSA, OK 74145

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

314,610 72.6% 1973

743 23,761 86,203

$12 $6 $2.15

MIDTOWN

HARVARD VILLAGE 2600 S HARVARD TULSA, OK 74114

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

45,444 59.5% 1955

0 0 18,400

$12

MIDTOWN

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

100,631 66.0% 1963/2007

1,000 5,831 34,166

$10 $10 $1.69

MIDTOWN

LINCOLN PLAZA ON CHERRY STREET

• • • • •

15th & Peoria

$1.90

Prime Location Located at 15th & Peoria The Heart of Cherry St Chimi’s, Jason’s Deli, 15 Below and The Cigar Box Great Visibility

Contact: George O’Connor or Kevin O’Connor Mid America Realty, Inc., 918-299-0100 MIDTOWN

LINCOLN PLAZA ON CHERRY STREET 15TH & PEORIA 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

107,387 100.0% 1984

3,478 10,489 0

$8.25 $9 $2.25

NOTE EXPANDED LISTING 47

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

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

OLD VILLAGE LINCOLN PLAZA ON CHERRY STREET 41ST & QUAKER TULSA, OK 74106

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

63,646 88.4% 1953

7,382 7,382 7,382

$13 $13 $0.65

MIDTOWN

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

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

148,951 100.0% 1967

0 0 0

MIDTOWN

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

21,850 100.0% 1973

0 0 2,241

$12 $12

MIDTOWN

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

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

470,574 88.3% 1967/97

3,200 21,067 55,192

$14 $16 $2.55

MIDTOWN

SUNBELT PLAZA

• • • • • •

43rd & Memorial

Prime Location Located at 43rd & Memorial Subway, 2nd Wind Fitness, and Bedlam Sports High Traffic Counts Great Tenant Mix Fantastic Visibility

Contact: George O’Connor or Kevin O’Connor Mid America Realty, Inc., 918-299-0100 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 SHOPS AT GREENWAY VILLAGE 4002-4016 S YALE TULSA, OK 74135

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

33,397 87.5% 1975

2,080 4,160 4,160

$12 $12 $2.50

MIDTOWN

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

CB RICHARD ELLIS/OK / PAUL WILLIAMS / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

40,010 100.0% 1989

0 0 0

$12.50 $12.50 $0

MIDTOWN

TULSA PROMENADE MALL 41ST & S YALE TULSA, OK 74135

JONES LANG LASALLE / GARY WOODWARD / 404-995-6455 3344 PEACHTREE ROAD, STE 1100 ATLANTA, GA 30326

926,306 95.7% 1965/86

150 7,000 40,000

$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

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

93,792 94.5% 1972

0 0 5,135

$10.25 $7 $1

NORTH NORTH

SPRINGDALE SHOPPING CENTER PINE & LEWIS TULSA, OK 74110

NORTHEAST NE

CATOOSA SHOPPING CENTER

• • • • •

Highway 66 & Rice St

Prime Location Highway 66 & Rice Street Anchored By Reasors Grocery Store New Shopping Center Mexican Restaurant, Grocery Store, Liquor Store & Other Great Tenants

Contact: George O’Connor or Bill Buchanan Mid America Realty, Inc., 918-299-0100 NE

CATOOSA SHOPPING CENTER 2400 N HIGHWAY 66 CATOOSA, OK 74015

ROLLING HILLS SHOPPING CENTER 19220 E ADMIRAL CATOOSA, OK 74015

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

70,000 97.9% 2006

1,500 1,500 1,500

$17 $17 $2.81

40,000 65.7%

465 12,500 13,715

$8 $12 $1.16

NOTE EXPANDED LISTING 48

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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

NORTHWEST NW

GILCREASE HILLS 2301-2323 W EDISON TULSA, OK 74127

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

74,247 76.1%

600 69,344 17,771

$2.83

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

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

102,413 74.2% 1957/1986

1,222 8,922 26,438

$12 $12 $1.26

OWASSO OWASSO

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

104,216 85.6% 2007

1,250 15,000 15,000

$10 $16

OWASSO

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

20,424 93.6% 1986

1,308 1,308 1,308

$12 $10

OWASSO

MINGO VALLEY CENTER 8787 OWASSO EXPRESSWAY OWASSO, OK 74055

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

107,187 85.9% 1988/2004

2,000 9,152 15,152

$9.25 $7 $1.65

OWASSO

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

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

31,025 87.2% 1999

1,300 2,660 3,960

$9.75 $8 $2.25

OWASSO

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

59,910 100.0% 1980

0 0 0

$17 $17 $1.50

OWASSO

SMITH FARM MARKETPLACE, PHASE I & II 122ND E AVE OWASSO , OK 74055

THE KROENKE GROUP / KENNY STILES / 573-449-8323

348,102 99.6% 1996

1,400 1,400 1,400

$22 $4.95

OWASSO

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

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

30,000 0.0% 2005

30,000 30,000 30,000

$10 $10 $3

OWASSO

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

67,954 82.3% 2005

3,000 12,000 12,000

$18 $12 $1.95

SOUTH SOUTH

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

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

21,783 75.7% 1985

1,000 2,200 5,300

$8 $12

SOUTH

5400 MINGO CENTER 5400 S MINGO TULSA, OK 74146

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

49,000 100.0% 1979

0 0 0

$8.25 $10 $0

SOUTH

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 81.0%

1,200 5,280 9,540

$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

43,500 94.4% 1984

2,448 2,448 2,448

$9.50 $8 $1.28

SOUTH

COMMERCE PLAZA 55TH & MINGO TULSA, OK 74146

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

30,000 100.0% 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

25,047 96.2% 1980/2007

964 964 964

$12.75

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

209,000 92.4% 1965/84

950 7,200 15,864

$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

30,000 95.0% 2011

1,400 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

47,331 100.0% 1985

0 0 0

$3.31

$2.48

NOTE EXPANDED LISTING 49

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

ECHELON 81ST & MEMORIAL, S/W C TULSA, OK 74133

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

54,464 89.1% 1984

964 2,830 5,944

$13 $12.50 $2.34

SOUTH

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

181,871 74.9% 1984

1,293 44,167 45,603

$12 $8 $2.37

SOUTH

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

CB RICHARD ELLIS/OK / MARK ROONEY / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

56,622 78.4%

1,084 8,700 12,226

$10 $8 $1.75

SOUTH

FOREST TRAILS SOUTH 10032 S SHERIDAN TULSA, OK 74133

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

32,265 97.1% 1983

0 0 0

$12 $10 $1

SOUTH

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

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

6,050 100.0% 1996

0 0 0

$16 $16 $4.29

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

$2.43

SOUTH

HOBBY LOBBY RETAIL CENTER 52ND & HARVARD 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

KENSINGTON ANNEX 71ST & LEWIS TULSA, OK 74136

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

51,048 93.5% 1979

900 3,300 3,300

$10 $9 $1.50

SOUTH

KINGS LANDING 99TH & S RIVERSIDE PKWY TULSA, OK 74105

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

43,746 91.6% 2005

1,487 2,200 3,687

$18 $18 $4.25

SOUTH

KINGS POINTE VILLAGE 5952 S YALE TULSA, OK 74135

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

117,000 96.2% 2003

1,639 2,828 4,467

$20 $20 $2.79

SOUTH

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

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

49,347 75% 1977/98

1,693 6,039 12,769

$10 $10 $1.38

SOUTH

LIGHTHOUSE SHOPPING CENTER 7143 S YALE TULSA, OK 74136

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

38,045 92.1% 1988/2008

3,000 3,232 3,000

$12 $16 $2.88

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 SE/C 61ST & SHERIDAN TULSA, OK 74135

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

141,601 64.8%

2,099 3,550 49,900

$10.50 $16 $2.66

SOUTH

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

CB RICHARD ELLIS/OK / 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 83.3%

1,625 3,350 3,350

$15 $15 $5.07

SOUTH

MEMORIAL SQUARE

• • • • • •

NW/C 91st Street & Memorial

Prime Location Located at 91st & Memorial Stein Mart, Restaurants High Traffic Memorial Corridor Great Tenant Mix South Tulsa

Contact: George O’Connor or Bill Buchanan Mid America Realty, Inc., 918-299-0100 SOUTH

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

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

14,600 68.8%

1,400 1,400 4,550

$15 $15 $4

SOUTH

MINGO CENTER 5151 S MINGO RD TULSA, OK 74146

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

17,200 100.0% 2007

3,000 3,000 0

$8.50

SOUTH

MINGO MARKETPLACE 10127 E 71ST ST TULSA, OK 74133

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

300,000 100.0% 1992

28,313 0 0

SOUTH

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

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

126,549 81.4% 1971

1,365 6,040 23,584

$9 $10 $1.85

SOUTH

RENAISSANCE ON MEMORIAL 8283 S MEMORIAL DRIVE TULSA, OK 74133

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

25,000 93.0% 2003

1,750 1,750 1,750

$20 $23 $3.50

$2.34

NOTE EXPANDED LISTING 50

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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

RIVER PARK SQUARE 68TH & PEORIA TULSA, OK 74136

MCDOWELL & ASSOCIATES / JIM MCDOWELL / 918-298-0800 6843 S. PEORIA AVE., TULSA, OK 7403774136

46,238 70.4% 1984

874 5,289 13,693

$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

DOUG JANDEBEUR / 918-838-0100

41,699 85.6% 1984

1,500 1,500 6,000

$10 $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 73.0% 2006

1,063 4,430 13,034

$12 $14 $2.88

SOUTH

SOUTHBEND 8701 S LEWIS TULSA, OK 74136

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

45,425 94.7% 1974

2,400 2,400 2,400

$7 $7 $0

SOUTH

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

MCDOWELL & ASSOCIATES / JIM MCDOWELL / 918-298-0800 6843 S. PEORIA AVE. TULSA, OK 7403774136

34,450 100.0% 1980

0 0 0

$24 $24 $2.18

SOUTH

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

63,155 86.9% 1985

1,080 7,200 8,280

$9.50 $9.50 $1

SOUTH

SQUARE 91 8921-8929 S MEMORIAL TULSA, OK 74133

CB RICHARD ELLIS/OK / RICH MONAGHAN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

196,842 91.1% 1991

1,200 11,520 17,453

$6 $12 $1.86

SOUTH

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

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

47,020 77.3% 1983

1,320 4,020 10,661

$10 $11 $3.31

SOUTH

SQUARE ONE-EXTENDED 6705 E 81ST ST TULSA, OK 74133

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

17,734 100.0% 1985

0 0 0

SOUTH

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

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

166,800 94.9% 1987

1,500 4,249 8,497

$12 $9 $2.05

SOUTH

THE LANDING 71ST & MEMORIAL NW/C TULSA, OK 74133

MIDAMERICA REALTY INC. / GEORGE O CONNER / 918-299-0100 10125 C S. SHERIDAN, TULSA OK 74133

31,200 73.1%

2,400 3,600 8,400

$10 $10 $2.64

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 79.6% 1980

1,250 3,169 6,293

$10 $12 $2.20

SOUTH

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

ALTUS REAL ESTATE ADVISORS / HOWARD BALL / 404-995-1708

151,941 70% 1986

1054 7193 44624

$8 $10

SOUTH

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

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

55,000 54.2% 1992

1,225 5,860 25,203

$10 $10 $1.85

SOUTH

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

224,287 78.6% 1987

682 25,000 47,936

$12

SOUTH

THE VINEYARD ON MEMORIAL 109TH & MEMORIAL TULSA, OK 74133

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

58,000 58.2% 2014

1,429 6,308 24,259

$20 $25 $4.00

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

91,610 100.0% 1974

0 0 0

$8 $7 $0.85

SOUTH

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

92,848 100.0%

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 71.7% 2013

1,208 4,000 9,055

$22 $22 $4.25

SOUTH

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

CB RICHARD ELLIS/OK / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

334,566 100.0% 1994

0 0 0

$9.50 $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 81.8% 1985

1,235 2,146 5,512

$10 $11 $2.58

NOTE EXPANDED LISTING 51

PROJECT NAME ADDRESS CITY / STATE / ZIP

SOUTH

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

SIZE (GLA) % LEASED YEAR BUILT

• • • • • •

VILLAGE SOUTH SE/C 101st & Sheridan

SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE

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

Prime Location Located at 101st & Sheridan Sky Fitness, Mazzios and Other Great Tenants Great Area Demographic Tremendous Tenant Mix Recently Undergone Major Renovation

Contact: George O’Connor or Kevin O’Connor Mid America Realty, Inc., 918-299-0100 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

104,113 79.8% -

1,038 3,700 21,000

$13 $13 $2.54

SOUTH

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

DITTOS CO. / JIM DITTOS / 918-270-1133

105,768 97.2% 1990

1488 2976 2976

$9 $12

SOUTH

WEMBLEY CENTER 7106-7116 S MINGO TULSA OK 74133

SOUTH STAR PM / CAMERON SMITH

51,343 77.6%

1,200 4,296 11,478

$12.50 $9.50 $2.20

SOUTH

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

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

143,376 61.5% 1994

1,281 45,089 55,133

$11 $22 $3.72

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

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

42,000 100.0% 1976

0 0 0

$8 $8 $0.78

SOUTHWEST SW

MAIN PLACE 6TH & SO MAIN SAPULPA , OK 74066 RIVERWALK CROSSING

300 Riverwalk Terrace

Contact: Brian Paine or Matt Mardis Paine & Associates., 918-481-5380

RIVERWALK CROSSING 300 RIVERWALK TERRACE JENKS, OK 74037

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

86,302 82.8% 2005

1,370 13,500 14,870

$17 $22 $4.70

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

32,431 40.2% 2009

1,250 16,000 19,400

$22 $22

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

CB RICHARD ELLIS/OK / CAITLIN BOEWE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

736,967 98.1% 2007

1,600 7,500 13,900

$30 $30

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

44,193 37.0% 2012

952 20,000 27,844

$9 $12

110,000 100.0% 1954

17,850 50,533

168,000 87.9% 1986

1,204 8,775 20,266

$10 $10

WEST WEST

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

WEST

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

WEST

COLDWELL BANKER / DAVID ROBERTS / 918-695-6979

$0.69

• • • • •

2009 Renovation All new air-conditioning units Substantially new roof Excellent visibility and access to Interstate 44 Minutes away from downtown Tulsa and the Tulsa Hills Shopping Area • Up to 46,000 square feet available

TOWN WEST 5610-5648 West Skelly Drive

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

TOWN WEST 5600 W SKELLY DR TULSA, OK 74107

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

160,591 88.6% 1978

7,610 8,893 18,259

$4 $4 $0

NOTE EXPANDED LISTING 52

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

NAIOP 2015 NAIOP Members

Grant Allen

Josh Chesney

Jared Andresen

Patrick Coates Coates Commercial Properties LLC

Stan Johnson Company

David Evan Atkinson

David Cobb

Bank of Oklahoma N.A.

HUB International

Cushman Commercial Oklahoma

Cyntergy AEC

Andrew Coffey Trinity Coporate Real Estate Advisors LLC

Susan A. Miller

Brad Sanditen

Zachary Harris

Scott Morgan

Scott Schlotfelt

Tim James

Michael Murnan

Bank SNB

Terracon Consultants Inc.

One Property Management

Derek J. Bateman

Michael T. Gray

William B. Jones Pray Walker PC

Arvest Bank

Jonathan B. Cowan

Brian Beam

Kenneth Cox Jr.

Crystal Keller City of Tulsa

Jason M. Kennon Case & Associates

Newmark Grubb

Brian A. Darnell

Dave Kollmann Flintco LLC

HUB International

Pam Bewley

Commercial Title & Escrow Services Inc.

Caitlin D. Boewe

CB Richard Ellis Oklahoma

Rick L. Bruder City of Tulsa

Susan Buck Flintco LLC

Chris J. Bumgarner

Bumgarner Asset Management

Marc David

Armstrong Relocation

Frank Lubbock Davies IV Davies Architects

Matt Dumond

LD Kerns Contractors

LeRoy Albert Flint Jr. University of Tulsa

Tony Lenox

The Ross Group Construction Corp.

American Heritage Bank

Tanda Francis Price Edwards & Co.

Newmark Grubb

Nicholas Lombardi

Frisbie Lombardi Commercial Real Estate Services

Grand Bank

Aaron A. Gaddy Key Construction Inc.

Hall Estill

Ben Ganzkow

CB Richard Ellis Oklahoma

Newmark Grubb

Lauren Smith

Kevin Oâ&#x20AC;&#x2122;Conner

Ashley L. Stephenson

Security Bank

WorkSpace Resource Inc.

Chad Osgood Highgate General Contractors Inc.

Danny Overton

Brian Talkington Alan Taylor

Wallace Engineering

DLRE Inc.

Gene Phillips

Warren Unsicker

Wallace Engineering

Broken Arrow Economic Development Corp.

Nick Probst

Carl Vincent

Corporate Realty Advisors LLC

Ruffin Properties

Stephanie D. Putzke

Wallace Engineering

Brian Walker

Cassie Reese

Yolanda Wright Kinslow Keith & Todd

Nabholz Construction

Garrett Mahaney Jerry D. Reeves

Cheryl Zumwalde Paradigm Realty Advisors

Investment Real Estate LLC

Matthew Mardis Alynchia Reynolds Look Properties

Ryan McDaniel Joe Robson

The Robson Companies Inc.

Bill Miller BancFirst Tulsa

Steve Ganzkow

Joe Neal

David R. Looney

Commerce Bank

Christopher Carter

Rebecca Sherwood

Bluestem Escrow & Title LLC

Cyntergy AEC

Paine & Associates LLC

Jared L. Cable

Cushman Commercial Oklahoma

Mike Lester

Paine & Associates LLC

Steven Burrus

Sandman Realty LLC

Cushman & Wakefield | Commercial Oklahoma

Mid America Realty Inc.

Hall Estill

William P. Beichler

Coury Properties

KPM

US Signs & Screenprinting

Owasso Land Trust

City of Tulsa

Briana J. Ross

Sprouse Shrader Smith PLLC

American Residential

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

INDUSTRIAL MARKET OVERVIEW

DEEP IMPACT Tulsa’s economy has largely escaped significant impact from the fall in crude prices. However, industrial related markets have seen the brunt of oil and gas related job losses as manufacturing and goods producing sectors have combined to shed 3,300 jobs since mid-year 2014 with most of these coming since January 2015. • Macy’s/Bloomingdale’s Distribution Center

delivers a 1.3 million square-foot facility in early 2015. The new center is the largest industrial construction project completed in northeast Oklahoma since the 1.4 million square-foot Gatorade Plant delivered in Pryor.

• 3,000 new industrial-related jobs created in the Tulsa MSA since May 2014.

• 2,400 manufacturing, 700 mining and

logging, and 900 goods-producing jobs lost by mid-year 2015. Gains have been seen with 4,700 new jobs created in trade, transportation and utilities; 1,700 new jobs in construction; and 500 new jobs in wholesale trade.

by BOB PIELSTICKER, SIOR FIRST VICE PRESIDENT, CBRE, INC. 55

Market

Total Leasable (SF)

Total Vacant (SF)

Vacancy Rate (%)

Availability Rate (%)

NNN Avg. Annual ($/SF)

Net Absorption (SF)

Northeast

21,346,125

715,092

3.3

5.7

5.82

1,360,681

Northwest

12,704,328

146,445

1.1

4.7

4.41

27,334

South Central

18,110,023

1,430,776

7.9

11.2

6.45

194,212

Southeast

14,779,388

1,255,130

8.5

8.7

6.17

539,886

Southwest

10,074,200

460,629

4.6

5.9

4.90

72,630

Total

78,014,064

4,008,072

5.1

7.4

5.55

2,194,743

LOCAL ECONOMY Oil and gas industrial users and contractors have been the first to see personnel and real estate footprint contractions as the number of active well sites in Oklahoma has dropped by 50 percent over the year, which has contributed to job losses for consecutive months in both manufacturing and goods-producing sectors.

MARKET OVERVIEW The industrial vacancy rate has dropped to 5.1 percent, the lowest rate since 2007. Most of the vacancy is in older obsolete properties, which makes competition high for tenants looking for suitable space. With over 2.5 million square feet of existing requirements in the market, the limitation of quality space in Tulsa will continue to force many tenants to evaluate build-to-suit options. The Port of Catoosa continues to be a major growth driver in Tulsa’s industrial market. The port has grown from 850,000 square feet in 1990 to nearly 2.6 million square feet of industrial product in as of H1 2015. Shipments in the port continue to rise and accounts for nearly 15 percent of all cargo transported in the McClellan-Kerr Arkansas River Navigation System. In total, the 2,500-acre industrial park employs over 4,000 people and is home to 70 companies. The recent increase in shipping and growth in industrial product around the port will continue to make this location a key growth sector for the Tulsa industrial market. Port officials continue infrastructure upgrades such as the $12.3

million dock capacity increase project currently underway. Mid-America Industrial Park announced plans for major expansion efforts during 2015. Plans are to invest more than $50 million in the park’s remaining 4,000 acres, which will open to development by the end of the decade. Currently, more than 3 million square feet of existing industrial product has been constructed in the park with notable tenants such as Google, Airgas, Cabot North Americas, Endot, NORDAM and Unified Brands. In addition to the development infrastructure investment, park officials will be constructing a 100,000-square-foot, $10 million MidAmerica career center. A 37,500-square-foot manufacturing building is complete with plans for two more speculative buildings, which will include a 45,000-square-foot crane-ready building and an 84,000-square-foot multi-tenant warehouse. CenterGate Business Park, the former Ford Glass Company Plant/Zeledyne Glass Plant, continues to see redevelopment efforts expand. In total during 2015, three new properties will be delivered including a 38,000-square-foot flex building and 61,000-square-foot and 113,120-squarefoot bulk warehouses. During early 2015, Harsco occupied 553,000 square feet that helped set off the redevelopment of this shuttered plant. In total, over 1 million square feet of new industrial space will be constructed on the site in coming years.

INVESTMENT SALES Investment sale activity has remained strong thus far in 2015 with $77 million and 1.8 million square feet exchanging hands. The Broken Arrow Expressway — BNSF rail corridor in southeast Tulsa experienced the majority of investment sales in 2015. Per-square-foot average during 2015 was $40, while the average per-square-foot price between 2013 and 2014 was $34. This signals a continued rise in industrial value in the Tulsa MSA.

NET ABSORPTION The market has experienced strong net absorption of 2,194,743 square feet over the last 12 months. Absorption rates were driven by the delivery and occupancy of the Macy’s/Bloomingdale’s distribution center which totals 1,388,555 square feet. As a new tenant, this project contributes significant growth to the market in 2015. Other positive absorption came from Harsco’s 200,000-square-foot expansion,Whirlpool’s lease of 100,000 square feet and Video Gaming Technologies purchase of an additional 40,000 square feet. Negative absorption was impacted by the closure of Team Oil Tools 143,000-square-foot facility and Hilti’s relocation of its 160,000-square-foot logistics warehouse to north Texas. Absorption rates through the remainder of 2015 will likely depend on any rebound in crude prices. While other Tulsa industries such as aerospace and distribution are likely to benefit, the reduction of oil and gas companies in industrial space will likely offset much other sector growth.

{FACT} Gilcrease Museum is located northwest of downtown Tulsa. The facility houses the world’s largest collection of American West-style art as well as a growing collection of art and artifacts from Central and South America. The museum is named for Thomas Gilcrease, an oilman and art collector. 56

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

VACANCY Vacancy in Tulsa has slowly decreased since 2007 to 5.1 percent. Shadow space and availabilities continue to rise in the industrial market. During the height of crude prices, many oil- and gas-related companies secured space for future growth needs. This resulted in many firms choosing to relist the space as oil field contractors, who are typically big players in industrial space, have been hit the hardest by the recent crude price decline. As the decline and suppression of crude price continues, it will likely begin to impact vacancy rates in the industrial market through 2015 and into 2016. However, as vacancy remains at 5.1 percent, it is well below the national industrial availability average of 10.1 percent.

ASKING RATES Rental asking rates in Tulsa continue to increase as the 2015 overall triple net asking rate is $5.55 per square foot. Rental rate increases are reflective of the lack of quality space in the market,

allowing landlords to continue to increase asking rates. Rental rate growth has been the strongest in the south central and southeast submarkets, as it is well positioned along major highways and rail infrastructure with limited land availability for new construction.

THE AHA MOMENT.

SUMMARY As the Tulsa market experienced the negative impact of falling crude oil prices, its diversification has softened the blow. Tulsaâ&#x20AC;&#x2122;s industrial market has been recognized as one of the nationâ&#x20AC;&#x2122;s leading advanced manufacturing cities, bringing signs of further growth opportunities.While not all the demand in the Tulsa metropolitan area is oil and gas related, the depressed prices will certainly impact major oil players in the area. Some projects and expansions have been placed on hold until the price of oil stabilizes. With the increased uncertainty in the energy sector, demand should shift to the Tulsa aerospace industry. â&#x20AC;˘

The best real estate idea you have ever had. Visit sior.com to locate an SIOR broker or become a member.

Member FDIC

Commercial Real Estate Loans Long Term Fixed Rates Industrial - Office - Retail - Multifamily

American Heritage Bank is uniquely positioned to offer 5 to 15 year terms and is looking for financing opportunities in the Tulsa area. Purchase or refinance your commercial investment property with a long-term, fixed rate loan and take advantage of historically low interest rates.

Contact Steven Burrus, Senior Vice President, at (918) 248-3257 for all your Real Estate needs.

ahb-ok.com Disclaimer- This document shall not be construed as a formal offer to provide financing or a commitment on projects, terms, or rates. All loans are subject to normal due diligence of American Heritage Bank at its sole discretion. Dated August 1, 2015. Member FDIC

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

BROKEN ARROW BA

1605 E. IOLA 1605 E IOLA BROKEN ARROW, OK 74012

CB RICHARD ELLIS/OK / TONY AARONSON / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

55,000 0% $3.50

55,000 55,000 NO

7GRADE LEVEL/2 DOCK HIGH 22’ NO

2100 N. HEMLOCK 2100 N HEMLOCK BROKEN ARROW, OK 74011

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

15,000 100% $5

0 0 YES

LOADING DOCK/DOORS 27’ NO

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

CB RICHARD ELLIS/OK / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

41,250 89.9% $6.75

2,905 4,167

14’ DRIVE IN DOORS 16’ NO

2600 WEST ALBANY 2600 W ALBANY BROKEN ARROW, OK 74012

45,000 66.3% $4.75

15,180 15,180 YES

DOCK 22’ NO

708 WEST KENOSHA 708 WEST KENOSHA BROKEN ARROW, OK 74012

MCDOWELL & ASSOCIATES / JIM MCDOWELL / 918-298-0800 6843 S. PEORIA AVE., TULSA, OK 7403774136

61,575 0% $4.22

61,575 61,575

2 DOCKS 15-18’

CENTERPOINTE BUSINESS PARK 5727 S. 129TH E. AVE. TULSA, OK 74134

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

393,000 0% $2.25

393,000 393,000

DOCK HIGH/DRIVE IN 22’ NO

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

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

62,500 17.8% $5.75

51,368 51,368 YES

DOCK HIGH & DRIVE IN 24’ NO

COMMERCE CROSSING 3825 W ALBANY BROKEN ARROW, OK 74012

CB RICHARD ELLIS/OK / 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

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

CB RICHARD ELLIS/OK / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

146,007 97.9% $6.95

3,042 3,042 NO

DOCK HIGH/DRIVE IN 19’ NO

HENSHAW PARK SOUTH I 1900 N INDIANWOOD BROKEN ARROW, OK 74012

CB RICHARD ELLIS/OK / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

57,500 100% $4.75

0 0

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

60,000 100% $5.50

7,500 7,500 YES

GRADE A DOCK 24’ NO

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

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

60,000 100% $5.50

0 0 YES

GRADE A DOCK 24’ NO

METRO PARK IV 12122 E 55TH TULSA, OK 74146

CB RICHARD ELLIS/OK / 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

24’ 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

CROSSTOWN BUSINESS CENTER 9797 E ADMIRAL PL TULSA, OK 74116

CB RICHARD ELLIS/OK / BOB PIELSTICKER / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

192,282 95.9% $6.00

7,800 7,800 YES

YES 13’ NO

CENTRAL

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

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

248,163 96.6% $4.50

14,355 8,557 YES

GRADE LEVEL & DOCK HIGH 18’ NO

CENTRAL

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

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

33,750 85.2% $6.00

3,000 5,000

DRIVE IN & DOCK HIGH DOOR 15’ NO

NOTE EXPANDED LISTING 58

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

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

82,290 100% $0

0 0 YES

9 24’ NO

EAST

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

CB RICHARD ELLIS/OK / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

40,000 89.1% $6.75

1,875 4,375 NO

14’ DRIVE IN DOORS 16’ NO

EAST

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

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

43,200 84.0% $4.50

12,900 6,900

DRIVE IN 14’ NO

EAST

5800 CENTER 5727 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 82.9% $7.50

8,900 8,900 NO

GRADE DOCK 13’ NO

EAST

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

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

100,000 80% $5.00

20,000 20,000 YES

DOCK HIGH & DRIVE IN RAMP ACCESS 30’

EAST

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

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

134,000 88.8% $5.25

7,500 15,000 YES

12’X14’ OHD 20’ & 24’ NO

EAST

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

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

37,000 100%

37,000 0 YES

12’X14’ OHD 24’ NO

EAST

• • • • •

BUSINESS COMMONS TECH CENTER 12206 East 51st Street

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

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

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

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

37,041 93.4% $7.50

0 2,443 NO

GRADE LEVEL OVERHEAD 12’ - 13’ 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 95.9% $5.75

3,000 3,000 NO

YES 12’ NO

EAST

CROSSROADS DISTRIBUTION CENTER 420 S 145TH E AVE TULSA, OK 74117

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

780,524 100% $3.50

0 0 YES

YES 36’-43’

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 86.9% $4.50

8,874 24,242 YES

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

EAST

GARNETT BUSINESS PARK 5460 S GARNETT RD TULSA, OK 74146

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

200,000 97.0% $5.00

3,006 5,914 NO

GRAEBEL WAREHOUSE 12535 E 52ND ST TULSA, OK 74146

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

82,290 100% $4.50

0 0 YES

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

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

39,531 57.8% $5.75

9,750 16,695 NO

YES 10’ NO

EAST

24’

NOTE EXPANDED LISTING 59

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

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

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

120,157 100% $4.00

0 0 YES

DOCK HIGH 26’ YES

EAST

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

46,000 93.9% $6.50

2,800 2,800 YES

DRIVE IN 19’ NO

EAST

METRO PARK 12535 E 52ND ST TULSA, OK 74136

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

82,290 100% $4.50

0 0 YES

7 24’ NO

EAST

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

CB RICHARD ELLIS/OK / 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 57.9% $7.00

20,230 20,230 YES

DOCK & GRADE 24’ NO

EAST

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

CB RICHARD ELLIS/OK / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

50,000 50% $4.00

25,000 25,000

DOCK HIGH 24’ NO

EAST

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

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

20,000 100%

0 0 YES

DOCK & GRADE 25’ NO

EAST

METRO PARK SOUTH 11807 E 61ST TULSA, OK 74137

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

18,960 100%

0 0 YES

5 24’ NO

EAST

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

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

20,000 100% $0

0 0 YES

YES 24’ NO

EAST

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

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

73,475 95.9% $5.50

4,500 3,000 PARTIAL

DRIVE IN 16’

EAST

SOUTHEAST TECH CENTER

• 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

EAST

SOUTHPLACE TRADE CENTER 8700 E 41ST TULSA, OK 74145

EAST

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

EAST

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

31,506 65.2% $7.50

5,250 10,974 NO

GRADE LEVEL 14’ NO

25,000 71.2% $6.00

3,600 7,200 NO

NONE 10’ NO

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

205,500 89.1% $4.50

15,000 22,500 YES

DOCK HIGH/DRIVE IN 18’ NO

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

CB RICHARD ELLIS/OK / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

88,084 78.5% $8.25

8,928 18,981 NO

GRADE LEVEL 14.5’ NO

EAST

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

NEWMARK GRUBB LEVY STRANGE BEFFORT / DAVID LOONEY / 918-481-3200 2021 S. LEWIS , STE 410, TULSA, OK 74104-5710

160,890 95.8% $6.25

3,661 6,749 YES/NO

MULTIPLE 16’ - 22’ NO

EAST

WALVOIL BUILDING 12356 E 52ND ST TULSA , OK 74146

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

20,619 100% $6.75

5,000 0

1 GRADE DOORS 2 DOCK HIGH 24’

EAST

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

CB RICHARD ELLIS/OK / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

67,378 100% $7.25

0 0

DRIVE-IN DOORS 14’ NO

NOTE EXPANDED LISTING 60

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

INDUSTRIAL | SEE ZONES PAGE 25

PROJECT NAME ADDRESS CITY / STATE / ZIP

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

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

MIDTOWN MIDTOWN

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

CB RICHARD ELLIS/OK / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

27,000 77.0% $6.00

4,700 6,200 NO

DRIVE IN 16’ NO

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

CB RICHARD ELLIS/OK / 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

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

48,263 100%

0 0 YES

5 18’ NO

MIDTOWN

ALLTEC CENTER 433 S 93RD E AVE TULSA, OK 74145

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

43,049 100% $5.50

0 0 NO

YES

MIDTOWN

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

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

95,905 63.6% $5.25

34,905 34,905 YES

GRADE LEVEL DOCK HIGH 24’ NO

MIDTOWN

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

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

37,500 100% $5.25

0 0 YES

12’X14’ OHD 20’ NO

MIDTOWN

CORPORATE EXPRESS 4401 S SHERIDAN RD TULSA, OK 74145

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

45,102 44.2% $3.75

25,163 25,163 YES

(3)12’X12’ DH (2)12’X12’ DI VARIES NO

MIDTOWN

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

NAI PETROUS, INC. / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

98,000 0% $9.50

40,000 98,000

12 DRY, 5 COLD 18-26 FT NONE

MIDTOWN

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

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

27,500 81.4% $6.50

5,110 5,110 NO

MIDTOWN

FLEX SPACE 4401 S SHERIDAN RD TULSA, OK 74145

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

102,214 100% $3.50

0 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

107,387 90.2% $8.25

3,478 10,489 NO

YES 12’ NO

MIDTOWN

MAXIM CENTER 4717-4733 S MEMORIAL TULSA, OK 74145

CB RICHARD ELLIS/OK / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

40,800 74.1% $8.00

7,721 10,555 YES

DOCK HIGH & GRADE LEVEL 14’ NO

MIDTOWN

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

CB RICHARD ELLIS/OK / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

33,750 71.5% $8.25

9,616 9,616 YES

GRADE LEVEL 14’ NO

MIDTOWN

MINGO TRADE CENTER 9522 E 47TH PL TULSA, OK 74145

NAI PETROUS, INC. / MAX HEIDENREICH / 918-745-1133 5810 E. SKELLY DR., SUITE 1400 TULSA, OK 74135

41,650 100% $7.50

0 0 YES

BTS 11’7” NO

MIDTOWN

SANDERS COMMERCIAL CENTER 7601 E 46TH ST TULSA, OK 74145

55,310 55.8% $3.75

24,468 24,468 YES

DOCK HIGH & DRIVE IN 21’ NO

MIDTOWN

SPACE CENTER 7001-7287 E 38TH ST TULSA, OK 74145

495,000 85.3% $4

30,000 72,750 YES

GRADE LEVEL & DOCK HIGH 18’ YES

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

NOTE EXPANDED LISTING 61

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

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 81.3% $5.50

5,850 11,700

MIDTOWN

THE TRADE CENTER 7739-43 E 38TH ST TULSA, OK 74145

CB RICHARD ELLIS/OK / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

32,800 96.3% $6.00

1,200 1,200 NO

DRIVE-IN DOORS

MIDTOWN

TULSA BUSINESS PARK 7202-7378 E 38TH ST TULSA, OK 74145

CB RICHARD ELLIS/OK / SHAWNA HALE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

204,600 85.2% $5.00

8,800 30,250 NO

GRADE LEVEL & DOCK HIGH 16’ - 18’ NO

MIDTOWN

TULSA DISTRIBUTION CENTER 4477 S 70TH E AVE TULSA, OK 74145

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

458,290 95.1% $3.15

22,404 22,404 YES

DOCK HIGH / DRIVE IN VARIES YES

NORTH NORTH

11324-11326 E. APACHE 11324-11326 E APACHE TULSA, OK 74116

324,000 0% $3.50

324,000 324,000 YES

20 30’ NO

NORTH

1617 N. 93RD E. AVE. 1617 N 93RD E AVE TULSA, OK 74115

45,000 0% $3.25

45,000 45,000 YES

DOCK HIGH 22’ NO

NORTH

2650 N. SHERIDAN 2650 N SHERIDAN RD TULSA, OK 74115

DOUG JANDEBEUR / 918-838-0100

40,000 75.0% $4.50

10,000 10,000

GRADE 16’ NO

NORTH

2700 N. SHERIDAN 2700 N SHERIDAN RD TULSA, OK 74115

DOUG JANDEBEUR / 918-838-0100

81,000 93.8% $4.75

2,500 5,000 NO

GRADE, DOCK 14’ NO

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

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

39,300 100% $3.00

0 0 NO

DRIVE IN 20’-32’ NO

NORTH

BRANIFF PARK WEST 10502-10626 E PINE ST TULSA, OK 74116

CB RICHARD ELLIS/OK / 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

CB RICHARD ELLIS/OK / BOB PIELSTICKER / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

31,380 0% $4.50

31,380 31,380

35’

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% $4.30

0 0 NO

BOTH DOCK & DRIVE IN 16’ NO

NORTH

NAUTILUS MANUFACTURING FACILITY 10757 E UTE TULSA, OK 74116

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

134,600 0% $4.85

134,600 134,600 YES

DOCK HIGH & DRIVE IN 24’ NO

NORTH

PINE STREET INDUSTRIAL PARK 1408 N 105TH E AVE TULSA , OK 74116

CB RICHARD ELLIS/OK / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

150,330 83% $6.50

9,597 25,605 NO

OH & DOCK DOORS 16’ NO

NORTH

TFP AIRPORT DISTRIBUTION CENTER 8831 E PINE TULSA, OK 74115

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

120,000 100% $0

0 0 YES

8 25’ NO

NOTE EXPANDED LISTING 62

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

PROJECT NAME ADDRESS CITY / STATE / ZIP

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

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

64,457 0% $2.80

64,457 64,457

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

NORTHEAST NE

2201 E.L. ANDERSON BLVD 2201 EL ANDERSON BLVD CLAREMORE, OK 74107 • • • • • • • •

AIRPARK DISTRIBUTION CENTER 11401 & 11427 E 27th Street North

24’ 0

20,000 to 100,000 SF Available One mile east of Airport Easy Truck Access via US Hwy 169 Dock High and Drive-In Loading 30’ Ceiling Clearance ESFR Fire Suppression Highway 169 Exposure Large Concrete Truck Courts

Contact: Patrick Coates, CCIM, 918-610-0700 Coates Commercial Properties, LLC www.coatesproperties.com NE

AIRPARK DISTRIBUTION CENTER I 11401 E 27TH ST N TULSA, OK 74116

COATES COMMERCIAL PROPERTIES / PATRICK COATES / 918-610-0700 4111 S. DARLINGTON, STE 640, TULSA, OK 74135

100,000 100% $5.00

0 0 YES

DOCK HIGH & DRIVE IN RAMP ACCESS 30’

AIRPARK DISTRIBUTION CENTER II 11427 E 27TH ST N TULSA, OK 74116

COATES COMMERCIAL PROPERTIES / PATRICK COATES / 918-610-0700 4111 S. DARLINGTON, STE 640, TULSA, OK 74135

100,000 100% $5.00

0 0 YES

DOCK HIGH & DRIVE IN RAMP ACCESS 30’

AIRPORT INDUSTRIAL PARK I 11501-11541 E PINE ST TULSA, OK 74146

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

155,000 71.0% $3.75

52,500 45,000 YES

DOCK HIGH & DRIVE IN 25’ NO

BP EXCHANGE 10828 E NEWTON ST TULSA, OK 74116

BP EXCHANGE, L.L.C. / GORDON SUESS / 918-438-9058 10828 E. NEWTON STREET, SUITE 113 TULSA, OK 74115

173,400 92.6% $4.50

5,100 12,750 NO

GRADE LEVEL 12’-16’ NO

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

GREEN VALLEY CENTER 11333 E PINE ST TULSA, OK 74116

CB RICHARD ELLIS/OK / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

459,300 61.2% $4.25

75,655 178,271 NO

OHD & DOCK DOORS 34’ NO

INTERCHANGE BUSINESS PARK II 10835 E INDEPENDENCE TULSA, OK 74116

CB RICHARD ELLIS/OK / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

105,652 100% $3.75

0 0 YES

DOCK HIGH & DRIVE IN 18’ NO

PORT SPEC BUILDING TENKILLER RD CATOOSA, OK 74015

CB RICHARD ELLIS/OK / 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

STANLEY BLACK & DECKER 10902 E INDEPENDENCE ST TULSA, OK 74166

CB RICHARD ELLIS/OK / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

14,580 100% $5.00

0 0 YES

DRIVE IN 16’ NO

UPS 5445 BIRD CREEK AVE CATOOSA, OK 74015

56,000 0% $4.25

56,000 56,000 0

VANS GLEN 10816-10840 E NEWTON PL TULSA, OK 74116

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

53,642 100% $4.85

0 0 0

GRADE 12’ NO

CB RICHARD ELLIS/OK / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

238,068 70.7% $3.00

69,760 69,760

GRADE LEVEL

NORTHWEST NW

PORT CITY METAL SERVICES 3101 CHARLES PAGE BLVD TULSA, OK 74127

YES

SOUTH SOUTH

5171 SO. MINGO ROAD 5171 S MINGO RD TULSA, OK 74146

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

31,450 100%

0 0 YES

LOADING DOCK/DOORS 28’ CLEAR NO

SOUTH

52ND STREET WAREHOUSE 10008-10050 E 52ND ST TULSA, OK 74146

CB RICHARD ELLIS/OK / 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

NEWMARK GRUBB LEVY STRANGE BEFFORT / DAVID LOONEY / 918-481-3200 2021 S. LEWIS , STE 410, TULSA, OK 74104-5710

15,840 100% $3.95

0 0 NO

1 UP TO 21’ NO

NOTE EXPANDED LISTING 63

PROJECT NAME ADDRESS CITY / STATE / ZIP

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

SIZE (RSF) OCCUPANTCY RENT RATE

CONT. SPACE TOTAL AVAIL. SPRINKLERED

LOADING DOORS CLEAR HEIGHT RAIL SERVICE

SOUTH

55TH PLACE BUSINESS PARK 10404 E 55TH PL TULSA, OK 74146

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

41,160 100% $6.95

0 0 NO

N/A 16.5’ NO

SOUTH

7181 MINGO CENTER 7181 S MINGO RD TULSA, OK 74133

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

37,400 0% $8.00

32,000 37,400

GRADE 14’ NO

SOUTH

9999 E. 59TH ST 9999 E 59TH ST TULSA, OK 74146

COATES COMMERCIAL PROPERTIES / ANDERLE KHALED / 918-610-0700 4111 S. DARLINGTON, STE 640, TULSA, OK 74135

82,500 0% $3.55

82,500 82,500 YES

DRIVE IN GRADE LEVEL (1) DOCK HIGH (5) 20’ NO

SOUTH

BRANIFF MART 5401 S SHERIDAN RD TULSA, OK 74145

BP EXCHANGE, L.L.C. / GORDON SUESS / 918-438-9058 10828 E. NEWTON STREET, SUITE 113 TULSA, OK 74115

33,600 66.1% $8.00

8,400 11,400 NO

10’X10’ OVERHEAD 12’ NO

SOUTH

FORD PARTS DISTRIBUTION CENTER 10007 E 61ST TULSA, OK 74146

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

80,000 100% $0

0 0 YES

YES 24’ NO

SOUTH

IPC BUSINESS PARK 10102-10126 E 54TH ST S TULSA, OK 74146

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

68,660 100% $5.00

0 0 NO

YES 16.5’ NO

SOUTH

MARKET PLACE 8303-8311 E 111TH ST BIXBY, OK 74008

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

26,577 81.3% $8.50

4,981 4,981 NO

YES 12’ NO

SOUTH

MARKET PLACE WEST I 9410 E 51ST ST TULSA, OK 74146

NEWMARK DRUBB LEVY STRANGE BEFFORT / JARED ANDRESEN / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135

26,210 100% $9.00

0 0 NO

GRADE LEVEL 14’ 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

CB RICHARD ELLIS/OK / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

100,000 100% $4.50

0 0 YES

DOCK HIGH 30’ NO

SOUTH

METRO PARK EAST IV 13105 E 61ST ST TULSA, OK 74012

CB RICHARD ELLIS/OK / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

57,450 100% $4.50

0 0 YES

DOCK HIGH & DRIVE IN 24’ NO

SOUTH

REGENCY CENTER 5024 S MINGO RD TULSA, OK 74146

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

28,800 100% $0

0 0 YES

5 24’ NO

SOUTH

SEARS / STATE SERVICE SYSTEMS 10405 E 55TH PL TULSA, OK 74146

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

234,010 100% $0

0 0 YES

SOUTH

SHANNON SQUARE 9433, 9515, 9525 E 51ST TULSA, OK 74145

CB RICHARD ELLIS/OK / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

99,100 95.0% $6.25

4,950 4,950 NO

YES 12’ NO

SOUTH

SKYLAND SOUTH 5130-5161 S 94TH E AVE TULSA, OK 74145

BAUER & ASSOCIATES / DAVID CONVERSE / 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

109,524 50.7% $2.50

54,000 54,000 YES

DOCK HIGH & DRIVE IN 18’ NO

337,594 79.6% $5.50

45,000 69,000

DOCK HIGH & DRIVE IN

WEST WEST

BRONCO BUILDING 4953 S 48TH AVE TULSA, OK 74107

WEST

TULSA INDUSTRIAL CENTER 5400 S 49TH W AVE TULSA, OK 74107

CB RICHARD ELLIS/OK / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648

YES

NOTE EXPANDED LISTING 64

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

NAIOP American Heritage Bank 918-227-8130 P.O. Box 1408 Sapulpa, OK 74066 ahb-ok.com Page 57 Arvest Bank 918-631-1041 502 S. Main St. Tulsa, OK 74103 arvest.com Page 26 Bank SNB 918-523-3600 1500 S. Utica Ave. Tulsa, OK 74104 banksnb.com Page 6 Bank of Oklahoma 918-499-8470 7060 S. Yale Ave., Suite 301 Tulsa, OK 74136 bok.com Page 11 Bauer & Associates Realtors 918-665-1210 4821 S. Sheridan Road, Suite 201 Tulsa, OK 74145 bauertulsa.com Page 69 BOMA Tulsa 918-605-9931 Alana Kennon, Assoc Exec P.O. Box 14183 Tulsa, OK 74159 bomatulsa.com Page 17

OK CCIM 918-850-3654 Debra Wimpee, Exec Director P.O. Box 14343 Tulsa, OK 74159 okcim.com Page 17 Case and Associates 918-492-1983 4200 E. Skelly Drive, Suite 800 Tulsa, OK 74135 caseusa.com Page 1 CityPlex 918-493-8888 2488 E. 81st St., Suite 188 Tulsa, OK 74137 tulsatrinity.com Page 19 Commercial Title 918-556-6336 4739 E. 91st St., Suite 200 Tulsa, OK 74137 commercialtitleok.com Page 13 Coury Properties 918-583-0201 7134 S. Yale Ave., Suite 300 Tulsa, OK 74136 couryprop.com Page 11 Cyntergy 918-877-6000 320 S. Boston Ave. Tulsa, OK 74103 cyntergyaec.com Page 6 Gemini Rosemont 918-492-3400 6100 S. Yale Ave., Suite 390 Tulsa, OK 74136 geminirosemont.com Inside Front Cover

2015 Advertisers Index Great Southern Bank 918-499-2602 4200 E. Skelly Dr., Ste. 900 Tulsa, OK 74135 greatsouthernbank.com Page 72 Guaranty Abstract 918-587-6621 2705 E. 21st St. Tulsa, OK 74114 guarantyabstract.com Back Cover HUB International 918-712-5204 5314 S. Yale Ave., Ste. 900 Tulsa, OK 74135 hubinternational.com Page 26 Integra Realty Resources 918-492-4844 1323 E. 71st St. Tulsa, OK 74136 irr.com Page 25 KPM 918-581-3300 15 E. Fifth St., Suite 400 Tulsa, OK 74130 kanbarproperties.com Page 4 Key Construction 918-362-3201 5477 S. 108th E. Ave. Tulsa, OK 74146 keyconstruction.com Page 25 Kinslow Keith and Todd 918-744-4270 2200 S. Utica Place, Suite 200 Tulsa, OK 74114 kktarchitects.com Page 17

NAI Petrous 918-745-1133 5810 E. Skelly Dr. Tulsa, OK 74135 naipetrous.us Page 13 Paradigm Realty Advisors 918-665-1900 4500 S. Garnett Road, Suite 600 Tulsa, OK 74146 paradigmtulsa.com Page 7 Price Edwards & Co. 918-394-1000 7633 E. 63rd Place, Suite 400 Tulsa, OK 74133 priceedwards.com Page 23 SIOR 918-392-7268 sior.com Page 57 TechRidge 918-622-3798 9726 E. 42nd St., Suite 100 Tulsa, OK 74146 techridgetulsa.com Page 23 Tulsa Regional Chamber 918-585-1201 1 W. Third St. Tulsa, OK 74103 tulsachamber.com Page 2 Twenty First Properties 918-743-4300 2121 S. Columbia Ave., Suite 650 Tulsa, OK 74111 tfptulsa.com Page 12

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

M U LT I FA M I LY M A R K E T OV E R V I E W

RIDING THE WAVE The multifamily (MF) market continues to ride the wave of success. Low interest rates, rent growth and continued demand have created significant momentum within this sector.

This high demand and rapid growth environment has been fun for all of the parties involved. The market factors have provided healthy cash-on-cash returns, IRRs and lower sales cap rates. Rent growth for 2014-15 were 3.5 percent, occupancy rates were steady at 93.5 percent, and cap rates ranged from 5.5-7 percent depending on the quality of the asset.

by GREG WRIGHT 67

TULSA APARTMENT MARKET AVERAGE RENTAL RATES

TULSA APARTMENT MARKET CLASS A SUBURBAN AVERAGE RENTAL RATES*

$800

$1500

$700 $1200

$600 $500

$1000

$400 $800

$300 $200

$600

$100 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 1 Bed/1 Bath

$400

2013 2014 2015

2003

2004

2005

2 Bed/2 Bath

2006

2007

2008

2009

2010

2011

2012

2013

2014

1 Bed/1 Bath 2 Bed/2 Bath 3 Bed/2 Bath *14 Properties Surveyed

TULSA APARTMENT MARKET CLASS A SUBURBAN OCCUPANCY* 95% 94% 93% 92% 91% 90% 89% 88%

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Occupancy *14 Properties Surveyed

The demand for MF investments has lowered the cap rates in Tulsa and Oklahoma to unprecedented levels. Out-of-state investors have been very active during the last two years but even some local investors are getting involved in the action. The sales activity has decreased in 2015 from the record volume and pricing in 2014.The average price per unit exceeded $40,000 per unit on nine different sales midway through 2015. There are several deals in the pipeline that will close before the end of 2015.

NEW CONSTRUCTION New construction in the Tulsa area continues to remain at a steady and reasonable rate. Most of the new construction has been in the cities surrounding Tulsa (Jenks, Owasso, Broken Arrow) but a few new properties have been added in Tulsa. At

least three Class A multifamily properties should be completed in the Tulsa metro area during 2015 totaling 925 units. At this point, seven Class A multifamily apartment complexes are scheduled to be completed in the Tulsa metro area in 2016 totaling 1,972 units. The market has absorbed these new developments at a reasonable rate. I expect the market to be able to absorb the new developments if the construction remains at the current pace.

year the industry will have to make some staffing adjustments. If and when the oil and gas companies reduce their staffing it will have to affect occupancy, which in turn could affect the rental rates. Admittedly, the oil industry will not have the dramatic impact it had in previous years but I think it would be naïve to think it will not have any impact. We must keep an eye on the price of oil and the effect it will have on the MF industry over the next year.

HOW WILL THE PRICE OF OIL AFFECT OCCUPANCY AND RENTS IN 2016?

INTEREST RATES AND FINANCING OF MF PROPERTIES

The price of oil going from over $100 a barrel to the mid $50s (as of the writing of this article) hasn’t impacted occupancy and rental rates as of yet. However, if the price of oil doesn’t rebound by the end of the

The MF market has enjoyed a very accessible and available lending environment since 2010. The loan terms have been excellent with many lending options (Fannie, Freddie, HUD). Fannie and Freddie have provid-

{FACT} The 72,000-square-foot Oklahoma Aquarium has eight exhibits that feature invertebrates, Oklahoma species, a coral reef and a special half-million gallon tank that allows visitors to watch sharks swim overhead. It also houses a 30,000-piece antique fishing tackle collection.

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

ed a bulk of the financing and have offered very favorable terms. The terms ranged from ARMS with rates in the high 2%’s, fixed rates in the high 3%’s to mid-4%’s. In addition, you were able to get some period of interest only if that was part of your investment strategy. Fannie and Freddie have pulled back on their lending and increased the spreads. The CMBS market is trying to fill that void with competitive terms of mid-4% loans with interest-only periods ranging from 3-5 years. The low interest rates and excellent financing terms have been the fuel for the lower cap rates and increasing price per unit sales in Tulsa and Oklahoma. As the interest rates rise and the terms change I fully expect that cap rates will increase and the price per unit on sales will fall. When that will happen is anyone’s guess but it will happen at some point.

DEMAND FOR RENTAL HOUSING The Urban Institute completed a major demographic study recently and concluded that demand for rental housing over the next 15 years will dramatically increase and we are not prepared for it. The study states the “analysis projects that from 2010 to 2030, the growth in rental households will exceed that of homeowners by 4 million, with an increase of 13 million rental households to 9 million homeowner households. That’s five renters for every three homeowners.” What’s driving the large growth in renters? It’s a perfect storm of future demographic and behavioral changes, recession hangover, tight credit, baby boomers shifting to rentals, and transitory living. These factors all lead to one conclusion — RENTAL SUPPLY MUST INCREASE.

HOW LONG WILL THE WAVE LAST? The rental market continues to add renters as each generation has different needs and goals that multifamily properties can meet. Millennials want to remain transitory so that they can move job markets if necessary. Baby Boomers want to be able to travel and not be responsible for the demands of a home. Everyone is battling tightening credit and being able to provide a down payment on a house. As any good wave, they all end at some point. No one knows when that will be or what will cause the end of the wave. The MF market will continue to ride the wave as long as it can. With the continuing increase in demand for rental housing, one must remain cautiously optimistic and enjoy the good times as we “Hang 10” on one of the biggest waves in MF history! •

Sources: National Multifamily Housing Council- July Newsletter Urban Institute 69

LAND MARKET OVERVIEW

MOVING FORWARD The end of 2014 brought great news for the Tulsa land market with a 40 percent increase in volume over 2013 and a similar increase in sales with over $90 million in completed land transactions. For 2015, Tulsa is on track for over $100 million in land sales with a sustained volume.

By industry, Tulsa has seen retail development remain stable throughout this year â&#x20AC;&#x201D; highlighted by Costco in south Tulsa, Catoosa Hills and the Sevens in Owasso. Industrial development has cooled slightly, but still remains in a strong position moving forward. Office development has continued the impressive run from 2014 with a similar volume this year. New residential, both for multifamily and single-family subdivisions, proved to be on the rebound for this past year â&#x20AC;&#x201D; driving down the average price per square foot market wide and increasing the acreage per transaction nearly threefold from 2012.

by NICK LOMBARDI

2 0 1 5 N A I O P T U L S A C O M M E R C I A L P R O P E RT I E S

SALES BY MARKET SECTOR 35 30 25 20 15 10 5 2010

Retail

Office

2011

Industrial

2012

2013

Residential

2014

Special Use

TOTAL SALES VOLUME 140

Transaction VOLUME

120 100 80 60 40 20 2010 2011 2012 2013 2014 AVERAGE PARCEL SIZES (ACRES)

SALES PRICES $80 $70 $60 HIGH PRICE PSF

The Tulsa market has experienced a two-pronged expansion throughout the past year. Infill developments such as the Trader Joe’s in Brookside and 215 S. Greenwood Ave. in downtown Tulsa have been accompanied by expansion of development in the surrounding communities of Bixby, Broken Arrow, Catoosa, Glenpool and Owasso. The new Costco in south Tulsa shows the sustained strength of the Memorial Corridor moving toward Bixby, most notably the sale of the northwest corner of East 121st Street and South Memorial Drive to The Bridge Church for mixed-use development. Catoosa Hills at North 193rd East Avenue and Interstate 44 has shifted retail expansion northeast and remains in development. The Warren Foundation’s purchase of 15 acres on the southeast corner of West 151st Street and Highway 75 will provide a new medical destination for southwest Tulsa and is a harbinger of the future activity along the 151st Street Corridor connecting Glenpool and Bixby. In Broken Arrow, development continues along the Broken Arrow Expressway, as well as further south along the Creek Turnpike adjacent to the new Warren Theatre. Multifamily land sales have been strong in south Broken Arrow and the announcement of construction for the new Convention Center will continue to bring activity. Further north, the sale of the Sevens Property on Garnett Road in Owasso will bring a new hotel and an Academy Sports to the market.The opening of the new Macy’s Fulfillment Center at the Cherokee Industrial Park also is a good sign for growth in that market sector. Industrial development has been focused on existing corridors, marked by the Centerpoint Business Park, north Highway 169 and Highway 75 Corridors as well as a $50 million expansion of the Mid-America industrial park in Pryor. The outlet mall conversation was shook up this year when Simon Premium Outlets abandoned the prospect of a Tulsa location in favor of a site within the River District in Jenks. The projects by Horizon and the Woodmont Company are still in the mix and we will likely know the victor of these three groups later this year. However, the biggest story this year for land development is A Gathering Place along Riverside Drive. The most generous gift to a public park in the history of the United States provides a recreational city center just south of downtown and will have lasting impact on the Riverside Corridor. Already under construction, the Margaritaville Casino stands to bolster the entertainment appeal of the Arkansas River in addition to efforts to develop Riverside southwest of downtown and connect Jenks and Glenpool to Tulsa via the East 121st Street bridge announced earlier this year. Approval for the southwest corner of East 71st Street and Riverside Parkway for an REI anchored development was completed in July with work to begin in the fall of this year — proving that public/private cooperation along Riverside will continue to be a focus for new development. With that cooperation in mind, the clarion call for “Water in the River” has never been louder. As plans

$50 $40 $30 $20 $10 2010

2011 2012 2013 AVERAGE PRICE

2014

and proposals move forward, we are sure to see a significant focus on the river for the foreseeable future. Moving forward into 2016, Tulsa will continue to see expansion along the Highway 75 Corridor between Tulsa, Jenks and Glenpool for a variety of retail, multifamily, office and hospitality uses. South Broken Arrow is poised for expansion along the Creek Turnpike and the appetite for residential in that market sector remains strong. Downtown Tulsa development will increase as more multifamily and hospitality projects are com-

pleted this year. The increased population will beget more retail and mixed-use projects, although the catalyst will be more local and regional rather than national as the appetite for CBD development, particularly in tertiary markets, has waned in the past 24 months. Looking south to Bixby, the reclamation project along South Mingo Road between East 121st and 141st streets will bring a considerable amount of land out of the floodplain. This area is ideal for single-family development, multifamily and neighborhood retail centers. The increase in population that it will bring also should increase retail activity along the Memorial Corridor. Further changes in the Tulsa Zoning Code went through the planning process earlier this year and will be implemented likely before 2016. The emphasis of the plan is to streamline development and create a more predictable outcome for developers and neighbors alike. Key points include a shift away from the PUD process in favor of district overlays and Master Planned Development (MPD). The plan would favor mixed-use development on new projects, encourage density and reduce parking requirements. A new wrinkle in development in Tulsa County has been the American Burying Beetle. Effective Jan. 1, 2015, every parcel of unmaintained, raw land is subject to testing for this endagered species. So far this year, no positive tests have occurred, however the specter of the possibility has created apprehension for developers — particularly on larger tracts as the liability of $10,000 per acre has the ability to stall projects throughout the county. Excess funds from the Vision 2025 package will continue to drive public infrastrucuture projects in Owasso, Broken Arrow and Sand Springs — with Sand Springs announcing its portion of funding will go toward the construction of River City Park on the north side of the Arkansas River and Owasso planning to use the funds for public infrastructure and city services. The largest question for the short-term future of land development is interest rates. The climate at the Fed points to a softening of the cheap money stance of the recent past, albeit a modest, longer-term and paced increase. The effect on housing will be stark and will likely delay absorption of current inventory as well as the ability to create demand for new product. With housing as the baseline, other commercial market sectors will follow — first with increased rents on existing inventory and a latency on new development. The rise in the cost of capital also will put downward pressure on raw land values while conversely increasing the appeal of infill locations, expansion of existing sectors and drive higher density. As we look to 2016, anticipation remains for a slight pull-back on new development as Tulsa absorbs the frenetic activity from the past two years with a continued focus on proven corridors. Interest rates will have an affect on land values and the pace of new projects, however, the Tulsa market is poised to moved forward on multiple fronts with a sustained stability. • 71

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