Market Overviews Tulsa • National
Industry Overviews Office • Retail • Industrial • Multifamily
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C O M M E R C I A L
P R O P E R T I E S
WARREN PLACE Setting The Bar A Prestigious Address Amenities Beyond Compare
Where Business
and Nature thrives
LEASING Kelly McKoy The McKoy Company Office: (918) 491-9267 Cell: (918) 403-9160 PROPERTY MANAGEMENT Scott Mitchell, RPA Gemini Rosemont Office: (918) 492-3400
6100 S. Yale, Suite 390 Tulsa, Oklahoma 74136 geminirosemont.com
table of contents MAP ZONES ............................. 27 OFFICE
Tulsa
MAINTAINED STABILITY.. ............................................. 6 By Scott Wigton National
PROCEED WITH CONFIDENCE................................... 12 By Stephen Hill
Listings....................................... 28
Office
RETAIL
By Lisa Brandes, RPA
Listings....................................... 48
INDUSTRIAL
AN OPTIMISTIC ENERGY........................................... 22
Retail
IN FULL SWING......................................................... 42 By Grant Stewart
Listings....................................... 68
GENERAL 2019 NAIOP Events................... 20 NAIOP Oklahoma Members...... 40 2018 Deals of the Year.............. 58 Advertiser Index........................ 75
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Industrial
TULSA’S BIG GETS..................................................... 60 By David R. Looney Multifamily
LOOKING GOOD....................................................... 76 By Steven Watts
2019 NAIOP OKLAHOMA BOARD OF DIRECTORS AND OFFICERS
from the president
BILL BEICHLER President Legacy Commercial Properties Advisors
that time, we have had numerous accomplishments that have changed the landscape of this
DANNY OVERTON President Elect DRLE Inc.
We changed our magazine publisher to Langdon Publishing, publisher of TulsaPeople and The
It is my honor to represent NAIOP Oklahoma as the 2019 president and to proudly present the 30th edition of the Tulsa Commercial Properties Magazine. I have been very fortunate to serve on the NAIOP board for the last five years. During
NICK LOMBARDI Secretary Frisbie Lombardi ALEX LEIKAM Treasurer Bank of Oklahoma DEREK BATEMAN Magazine Chair Trinity Corporate Real Estate Advisors
NAIOP chapter. In a five-year period, we have grown our membership from 58 to a record 120 members. Tulsa Voice, making Tulsa Commercial Properties a first-class publication. In 2014, on behalf of the commercial development community, NAIOP was invited to jointly host the Mayoral forum and to provide support for the update of the City of Tulsa zoning code. The year 2016 was phenomenal! We worked with state legislators to address issues that would have cost existing high-rise owners staggering amounts off their bottom line to comply with new regulations that were to be implemented. That year we also added the Awards Gala to our list of programs and events. This black-tie event highlights the deals of the year. Next April we will host our fifth annual awards gala at the historic Mayo Hotel. We are expecting to be at full capacity with more than 250 people in attendance. In 2017 NAIOP Tulsa became NAIOP Oklahoma to expand reach across the state. In addition, we changed the location of Trends and the monthly breakfasts to Southern Hills Country Club, which has led to more exposure and better attendance.
PAST PRESIDENTS Carl Vincent, Ruffin Properties Steve Ganzkow, American Residential Jason Kennon, Case and Associates Nick Probst, Corporate Realty Advisors Rick Guild, The Guild Co. DIRECTORS Grant Allen, HUB International Derek Bateman, Trinity Corporate Real Estate Advisors Susan Buck, Flintco Chris Bumgarner, Bumgarner Asset Management Bob Pielsticker, CBRE FOR MEMBERSHIP INFORMATION: DEBRA WIMPEE, CHAPTER EXECUTIVE 918-850-3654 DEBRA@NAIOPOKLAHOMA.COM NAIOPOKLAHOMA.COM Published for NAIOP Oklahoma Chapter by
At a national level, NAIOP continues to advocate on behalf of its members for a carried interest in taxation (at a capital gains rate), leasehold depreciation (permeant vs. extenders) and comprehensive tax reform. NAIOP also took the lead on behalf of the industry regarding the proposed FASB lease accounting changes. Tulsa’s future looks bright and this chapter of NAIOP will continue to provide a significant amount of added value for its members from our significant speakers at our monthly NAIOP breakfast meetings to the advocacy in which we provide on a national, state and local platform. Just this year, during the most recent IOT package with the help of past and existing City Council, my executive board and chair members have established an interrelation with the City of Tulsa. This relationship ensures that our leadership is more involved in the planning and vision for the future of our community thus giving NAIOP a dedicated voice as an adjunct to city officials allowing for better policy and implementation for commercial development. To our advertisers and sponsors, and on behalf of the board and the entire Oklahoma Chapter, we say thank you so very much for all your continued support. Without you this publication would not be possible. I would also like to express my deepest gratitude to Debra Wimpee, our chapter executive. Her dedication and hard work for this organization does not go unrecognized by the board and we are truly appreciative. To all the board members, committee members and volunteers that give their personal time to make NAIOP Oklahoma a huge success, we thank you. In closing, I would like to emphasize the value of becoming a NAIOP member. We are always seeking to add new members. NAIOP Oklahoma provides unique access to companies and commercial real estate professionals, industry veterans, city officials and leaders in the Tulsa community. We encourage you to enhance your career by getting involved. May you have a blessed and prosperous 2020.
Tulsa Commercial Properties is owned by the NAIOP Oklahoma Chapter and is published annually. All reasonable care has been executed to ensure the accuracy of information. The publisher recognizes that printed material is subject to error and does not warrant or guarantee information contained herein. Copyright 2019. All rights reserved. Reproduction is whole or part of information contained herein without prior written approval is prohibited. Tulsa Commercial Properties trademark copyright is registered with the State of Oklahoma. For information or additional copies of Tulsa Commercial Properties, contact NAIOP, Oklahoma Chapter, PO Box 4654, Tulsa, OK 741590654. Telephone 918-850-3654. The national NAIOP organization was founded in Philadelphia, Pennsylvania, in 1967 by nine individuals. Today, membership tops 18,000 with chapters in 30 states, including Oklahoma.
Bill Beichler, CCIM President NAIOP Oklahoma Chapter
All data current as of September 2019. Cover photos by Paul Welch.
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from the developing leaders NAIOP’s Developing Leaders is an exclusive program geared
sional or if you employ young professionals in the commercial
specifically for all commercial real estate focused professionals
real estate sector, please reach out to us to discuss joining as a
age 35 and under. It has been a strong year for the Oklahoma
Developing Leader member of NAIOP.
chapter of NAIOP’s Developing Leaders program. To start the year, we launched the second consecutive year of our Mentorship Program at HUB International’s offices. The program gives Developing Leaders the opportunity to connect with seasoned real estate professionals who are among the chapter’s membership. Developing Leaders connect with mentors over an online portal system that assists them in setting up meeting times with each specific mentor. This program has proved very successful and has already reaped benefits among the mentee
Zachary Harris Director Stan Johnson Co. Developing Leaders Co-Chair
and mentor participants. In addition to the mentorship program, we hosted the inaugural NAIOP Cornhole Tournament with proceeds benefiting the NAIOP Developing Leaders programming. This event will be a seed investment to fund future programs for the remainder of the year and future years to come. As a final note, we are always seeking to add new members to the Developing Leaders program. If you are a young profes-
Steven Watts Managing Partner Rose Rock Development Partners Developing Leaders Co-Chair
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6
TULSA MARKET OVERVIEW
MAINTAINED STABILITY Tulsa’s economy remains solid with steady oil prices and low unemployment. But what’s needed to make it booming? If one word had to be picked for Tulsa’s current economic health, “stable” would likely be a good choice. It is certainly not the most exciting word, but it does seem to reflect the data, as well as the opinions of those who carefully observe the local economy. After a year that has seen some moderate volatility in oil prices, a city as historically dependent on energy — though somewhat less so today than in decades past — oil appears for the time being to have settled into a range of $55-$58 per barrel. And, while that is far from boom time levels, it has proven enough to maintain, well, stability. “Oil prices right now have been around $55 and we’d like to see it in the $57 to $60 (range),” says Bob Ball, director of economic research for the Tulsa Regional Chamber. “We still experience some volatility in our local economy because we are still strongly tied to oil prices.”
BY SCOTT WIGTON 7
TULSA MARKET OVERVIEW
Ball also says trade tariffs implemented by the current administration are having a marked im-
IMPACT ON COMMERCIAL REAL ESTATE
Although the economy has slowed slightly, the
pact on the local economy as manufacturers
general mood among real estate observers
feel the bite of higher raw materials costs.
remains positive.
“The trade issues we’ve been seeing with tariffs
“From my perspective, the overall Tulsa mar-
on aluminum, steel, and metal fabrication and
ket remains strong,” says Les Wallis, managing
machinery — the costs go up and that becomes
director of CBRE for Oklahoma and Arkansas.
an issue,” he says.
“In the first half of 2019, we had fewer large transactions, but that was offset by an increase
In spite of these headwinds, the July unemploy-
in smaller transactions. The economic funda-
ment rate remains low at 3.3% in the latest re-
mentals have been good, oil and gas has been
port from the Bureau of Labor Statistics. Total
stable and we’ve seen strong occupancy rates.
employment remained steady over the year
We’re about 87% leased in the office market and
with a gain of about 100 jobs from the same
rents are up to $16 a square foot.”
time in 2018. The labor force overall has shrunk, leaving some employers stranded for workers.
Neil Dailey of McGraw Commercial Real Estate
Ball speculates some people have just dropped
says a standout in Tulsa so far this year is the in-
out or there are workers who simply aren’t
dustrial real estate market with up to 97% of in-
matched to the jobs available.
ventory occupied. Companies want high bays, high ceilings, sprinkler systems and updated
“Overall, it remains a tight labor market,” Ball
electrical systems. Many are simply building
says. “There are jobs to be filled in professional
their own offices to suit their needs so they can
areas, accounting, finance, engineering, weld-
get all the bells and whistles.
ing. There’s a big demand because of the concentration of industries we have here.”
Dailey cautions, however, that the office market remains soft. “There is still a high vacancy rate
One concern is the declining economic growth
in the core office space, around 15-19%. Office
rate so far this year from last. For 2018, the
rates here are well below averages you see in
growth rate was 2.5%, but Ball says he expects
Kansas City or Indianapolis, for example. We’re
2019 to come in closer to 1%.
still struggling in the mid-teens with Class D office space.
“Most sectors will be off from last year, but you can’t sustain those growth rates,” he says.
There have been a few big splashes in
“2.5% is strong and we outperformed the state
the
overall last year.”
finished,
Tulsa
market
with
the
100,000-square-foot
soon-to-beVast
Bank
building in the Greenwood district, along with the announcement of WPX to construct
8
The Greenwood District will be the new home of WPX Energy’s headquarters at 222 N. Detroit Ave. Major construction is planned for 20202021, with move-in planned for early 2022. COURTESY
a 260,000-square-foot headquarters in the vi-
development explode as the city grew from
cinity, too.
1.5 million to 3.5 million. New buildings shot up and denser developments took hold. Prices
“The Vast Bank leased up quickly at a surpris-
skyrocketed. Lower downtown Denver (LODO)
ingly high rate of $32 per square foot. Someone
became a showpiece attraction for the city,
was willing to pay a lot higher than the market
much as the Tulsa Arts, Greenwood and the
average. For Class A in Tulsa, $32 is the top of
Blue Dome districts have for Tulsa, though on
the market,” Dailey says.
a smaller scale.
There are a few spots around town (61st and
“I think those areas are exploding like LODO.
91st and Yale Avenue) that command mid to
People are moving, there’s nightlife and I think
high $20s per square foot, but in downtown,
it will continue to grow. That area will remain a
the older, historical buildings clock in at $14-
big story going forward,” he says.
$17. Meanwhile, the Mayo maintains strong occupancy and the Tulsa Club building con-
Some others, such as Dailey, do sound a note
version was completed, adding to downtown’s
of caution that the area still has some distance
strengths.
to go to realize its potential, citing the need for more residential that could support a grocery
Wallis, who relocated to Tulsa from Denver,
store. Ball also notes many other cities around
sees strong parallels between Denver and Tulsa
Tulsa’s market size have done similar downtown-
in their respective downtown districts. During
area rejuvenations, meaning competition for
his 19-year stint in the Mile High City, he saw
attracting new business remains stiff.
The collection at Tulsa’s Gilcrease Museum includes more than 350 years of American paintings, sculptures and works on paper, including the largest public holdings of art of the American West.
9
TULSA MARKET OVERVIEW
TULSA NEEDS TO ASK ITSELF THE BIG QUESTION
Larry Wofford, Ph.D., a longtime Tulsan and
Dailey agrees that in order to firm up a soft
University of Tulsa business professor, careful-
office real estate market, Tulsa needs a “heavier
ly analyzes the city’s commercial environment.
stream of new blood to create demand. I know
He is pleased with the ramped-up downtown
that’s something the Chamber is working on,
activity that has occurred over the last decade
but we need more activity.”
because it helps with retaining talented people, businesses and gives the city something to tout
While incredible new features such as Gath-
in attracting outside business. His main concern
ering Place, which opened in 2018, help with
is with employment, which, he says, is the key
quality of life and talent retention, it remains
economic driver. According to Wofford, Tulsa’s
unclear if such amenities can attract outside
job growth is minimal when compared to a city
business interests.
like Austin, Texas. Improving education, especially higher educaAustin, he notes, is obviously bigger than Tulsa
tion rates, also is a key growth driver. Again,
today, but not so long ago (around 1990) it
Tulsa lags behind its rivals, including Little Rock
wasn’t. In fact, according to his data, Tulsa lags
and Albuquerque, with 30.8% of residents age
behind many other similarly sized markets when
25 and older having a college degree or bet-
it comes to employment over the last 30 years
ter, according to the U.S. Census Bureau. That
including Springfield, Missouri; Albuquerque,
makes it harder to attract companies that need
New Mexico; Little Rock, Arkansas; and Omaha,
a more qualified workforce.
Nebraska. “We need to improve our K-12 and higher “The thing missing is employment. Cities grow
education,” he says. “It’s critical to increasing
based on employment,” he says. “We have to
growth rates.”
ask the question: What is the big bang that will make Tulsa into a higher growth city? There is
Wofford argues Tulsa is an undiscovered gem
no tech firm that is coming in to create 15,000
with a high quality of life that is nevertheless
high-paying jobs. From an economic perspec-
making significant strides with promising new
tive, Tulsa hasn’t been hitting it out of the park
developments.
over the last 25 years.” “Tulsa is in a better spot today than it has been
10
People move places because they have a job
in a long time,” he says. “There’s a sense of
or think they can find a good job. Tulsa needs
dynamism and change that I haven’t sensed in
more companies that offer well-paying jobs
years. We are in a very competitive market for
and that manufacture things sold elsewhere, he
talent and we are beginning to position our-
continues.
selves to appeal to the talent we need.”•
NEW
INDUSTRY GROWS LIKE A WEED While Tulsa’s overall economy during the past year remained stable, one industry in particular grew like, well, a weed. When Oklahomans approved medical marijuana in 2018, a whole new industry exploded across the state, and Tulsa saw its share of the growth. “Medical marijuana has been the single most definitive user of space in the last 12 months at three levels: growers, processors and retail dispensary operators,” says Neil Dailey of McGraw Commercial. “We get calls all the time. That industry has soaked up any small- to medium-sized warehouses in the market.” Warehouses for marijuana operations in the 10,000- to 12,000-square-foot range have pretty much disappeared. For an industry that could barely be imagined in conservative Oklahoma as recently as five years ago, medical marijuana has found a home here. The Tulsa World reports that Oklahoma has one of the highest participation rates among the 33 states that have some sort of cannabis legislation. Jordan Helmerich, of Adwon Properties, has been at the forefront of real estate for the burgeoning industry. “We’ve done 10 to 15 leases on the grow and processing side,” he says.
Grow and processing operations can demand up to 40,000-square-feet of space with 10,000 to 20,000 square feet being more common. Helmerich was working on three to four retail leases at the time of this writing. Retail leases can be tricky to execute because of state and local regulations, especially distance requirements of 1,000 feet between dispensaries and from schools. Nevertheless, some operators have been paying in the hundreds of dollars per square foot on some locations, an amount Helmerich characterizes as “insane.” “We’re in a very interesting time because we’re seeing a bubble in this industry,” he says. “The margins are good right now but those will shrink. Plus, a lot of people don’t realize there are significant federal tax liabilities attached to these businesses.” Sooner or later, that bubble will pop and many of the marijuana-related startups will go up in smoke. In some cases, Helmerich adds, the survivors might be out-of-state operators with bigger operations accustomed to functioning in a competitive and very regulated environment. “Up to this point, it’s been like the Wild West, but the chance to make money is shrinking,” he says. “We are near or at the saturation point and we will start to see people dropping out.”
The “Yield” road sign was invented in Tulsa in 1950.
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12
N AT I O N A L O U T L O O K
PROCEED WITH CONFIDENCE Consumer and business confidence is key in future economic growth. With confidence there is progress. That’s the feeling American consumers projected during the past year, and there’s no signs it will stop soon. This past summer the U.S. economy reached a record 122 months of growth extending back to 2009, and there’s no significant signs that will end anytime soon. Real Gross Domestic Product growth in the first quarter of 2019 surged to 3.1%, while dipping slightly to 2.1% in the second quarter. Over the past decade, the U.S. economy averaged 2.3% annual expansion. While experts predict future growth will be modest, no one sees the danger signs of a recession soon. Most agree there will be continued expansion, just at a slower rate.
BY STEPHEN HILL 13
N AT I O N A L O U T L O O K
“We can expect a reasonable amount of growth
stalled corporate spending on capital projects
in the foreseeable future,” says James Russell,
during the first half of 2019. The report stated a
Ph.D., professor of economics at Oral Roberts
possibility of a “modest 5% rise” in capital spend-
University’s College of Business.
ing for the second half of the year, although that would still be below dollars spent in 2016.
“The greatest risk factor for the economy is overseas,” Russell says. “I’m more bullish than
“Certainly, there is some slowing down,” says
most, and expect to see growth at about 2.5%,
James Chessen, chief economist for the Amer-
barring what happens in Europe and Asia.
ican Bankers Association. “We are in a period
Europe is slow, and China is either exciting, or
of slower growth, but not anywhere near a
worrisome.” More on that risk later.
recession.”
Much of the record expansion of the U.S. econ-
Chessen sees health care, financial services,
omy came from consumer and business confi-
education, and leisure and hospitality as some
dence to spend. In July, the Conference Board’s
of the growth areas for 2020. While Ball likes all
Consumer Confidence Index posted an 11.4%
of those, he adds manufacturing as a resurgent
increase, which was the highest worldwide in
driver.
comparison to European and Asian countries. This index is a survey that reflects individual
“Nationally, and in Tulsa, manufacturing is doing
consumer’s confidence in the future of the
well,” Ball says. “We have a lot of resources
economy, and their willingness to spend on
that make manufacturing in Tulsa an attractive
durable goods.
opportunity.”
The University of Michigan’s sentiment index hit
All three economic experts agree lower taxes,
a 15-year high, while the Bloomberg Consumer
less oversight regulation and consumer con-
Comfort survey reached a six-month high, both
fidence are key factors in the continued GDP
reported in May.
growth. The signs for recession are distant, but something to certainly guard against rising in
“Consumer
and
business
confidence
are
the near term.
moving in tandem, and have momentum for the near future,” says Bob Ball, director of economic research at the Tulsa Regional Chamber.
BANKING ON FUTURE GROWTH
A major part of the confidence in the economy springs from the ability of businesses and con-
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While businesses are feeling the confidence by
sumers to access low-interest financing. The
hiring more workers, spending on capital proj-
Federal Reserve recently lowered interest rates
ects has seen a slowdown, according to a July
by a quarter point, the first drop in 11 years, a
2019 Kiplinger report. Tariffs implemented due
move that could help continue the economy’s
to trade wars with China and other countries
expansion. Businesses large and small take
notice as paying for capital projects will get less expensive. Consumers might notice first when they see better interest rates from financing institutions on auto and home loans. Credit card users, and that’s nearly everyone, might see lower interest rates on carryover debt. And banks universally stay competitive by tying interest rates for loans to the prime rate, again set by the Federal Reserve. “Banks are a very significant part of the economy by supporting new business and entrepreneurs, helping drive the economy forward,” Chessen says. “The key for banks is watching the Fed, which sets interest rates for the entire system. Whichever way the Fed moves has consequences for the entire country.” Basically, with a Fed drop of interest rates it lowers the price of borrowing, and that can cer-
“CONSUMER AND BUSINESS CONFIDENCE ARE MOVING IN TANDEM, AND HAVE MOMENTUM FOR THE NEAR FUTURE.” — Bob Ball, director of economic research at the Tulsa Regional Chamber
tainly spur spending. And the previously mentioned Kiplinger Report of less capital spending in 2019 could be a factor in lowering interest rates. Cheaper money means businesses can expand easier and quicker. Consumers are another leg on the economic spending stool — saving and cautious spending are the watchwords, according to Ball. “Right now, the debt to disposable income is low,” he says, “and that’s opportunities for lending for people to buy new homes and autos. “The lower rates are generally better for the overall economy. But the Fed will want to watch
that costs don’t start rising. That will be a sign of creeping inflation.” Higher interest rates attract foreign investment, while lower interest rates make imported goods more expensive. Obviously, it’s a tricky balancing act, and the Fed keeps a close tab on these scenarios. Inflation concerns always are looming. “Our economy is strong — so people want to invest in the U.S.,” Russell says. “We’ve been a safety spot for foreign investment.”
Downtown Tulsa was named one of the “Top 28 Friendliest Neighborhoods” in U.S. cities by National Geographic Traveler magazine.
15
N AT I O N A L O U T L O O K
ADDING JOBS AND PAYCHECKS
levied against cheaper, imported steel. A few
that’s certainly what has happened in the first
mostly for the booming West Texas energy
Economic growth equates to more jobs, and two quarters of 2019. The Labor Department reported an increase of 224,000 new jobs in June, which was well above the expectation of 165,000 new jobs. Payrolls are climbing and the national unemployment rate has remained at a relatively low point for several quarters — in July it hit 3.7%. While that’s a slight increase, it’s perfectly normal, according to Professor
facilities reopened earlier this year, producing sector, it remains to be seen how far this can run. But growth in the manufacturing sector is slow. It’s too soon to understand how the tariffs, lower energy prices and even the new tax cut laws will combine to affect GDP. Can heavy industry realize enough gains in efficiencies to
Russell.
stimulate expansion and job growth?
“Even though the unemployment rate jumped,
“Overall, trade wars will hurt all countries, par-
I think workers are more optimistic in finding jobs,” Russell says. “There are a lot of new
ticularly China,” Russell says. “But, in my opinion, it will hurt them more.”
workers added to the workforce, and that affected the rise in the unemployment numbers. But people are feeling there are better
THE DOW CAN BE A DOWNER
Many Americans own stocks in publicly traded
jobs to be found.”
companies, either directly or indirectly through
Those jobs are looking different than even a
daily ups and downs of the stock market can be
mutual funds and 401K accounts. Watching the
decade ago. Employment in 2020 and beyond will require an increasing need for technological skills, even in some jobs that were previously
a nerve-racking ride as future wealth accumulates, and suddenly disappears.
seen as unskilled labor.
In July the Dow Jones Industrial Average, an
“A lot of permanent jobs are being taken by
record high, and a plunge to the lowest day
index of 30 publicly traded companies, saw a
workers,” Ball says. “It’s a mature economy. Accounting and finance, engineering, and even manufacturing to an extent, are hiring. But today’s workers need to have technological skills. Companies require these newer skills because competition is more global than ever.” While the expansion of the manufacturing sector is promising, it’s not certain how sustainable growth can be. For instance, a few steel mills are reopening, in part due to trade tariffs
for 2019. That same 30-day period also saw another major stock market indicator, the S&P 500 index, experience the same volatility. “A large portion of Americans’ retirement funds are tied to the stock market,” Chessen says. “And Wall Street watches the same indicators that banks, economists and others do.” But the volatility in the stock market can extend beyond Wall Street. Lower stock prices affect
Gathering Place was voted “Best New Attraction” in the nation in USA Today’s Top 10 Best Readers’ Choice contest in 2018.
16
a company’s ability to secure loans, and retirees with stock portfolios feel the pain more acutely. Most companies can ride out the ups and downs, relying on a generally upward rise over the long period. Individuals might not have the luxury of a long-term outlook, or the ability to recover if the market really dives for an extended period.
seems to be directly related international
TrustService People
trading
issues. Redux on Russell’s comments earlier.
Technology
Experience
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Much of the market angst to
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“Watch Europe and Deutsche Bank,” Russell says. “Germany is having serious problems with one of the strongest
financial
institu-
tions in Europe.” Adding to the European miasma of instability is the very unclear direction that England’s “Brexit” is heading. Current and projected European
economic
GDP
looks very stagnant compared
to
previous
year.
Economic expansion is only
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17
N AT I O N A L O U T L O O K
European Commission. Not exactly heady times for the EU.
“These are the issues that could slow things down,” Ball says. “Things like higher tariffs
The other side of the world is not a warm embrace of American consumers either. Rising tariffs and devalued currency are the weapons in this trade war between two of the world’s largest economies. Russell’s words on China’s duality make for future head scratching. “The Chinese devaluing of the Yuan is a direct reaction to increased tariffs by the U.S.,” says Russell, adding that previous Washington administrations tried to deal with China on a short-term basis, but current leadership is looking further down the road. “We cannot continue giving over our intellectual property,” says Russell, a comment on China’s longstanding trade practices. And just to show how interconnected the world has become, the ongoing U.S. and China trade war is spilling over to Europe. Europe’s manufacturing powerhouse, Germany, saw output drop 5% this summer, which combined with its financial woes, experts warn of a possible recession.
or energy prices can have a big effect on the economy.” Amazingly, one of the more volatile markets — energy, and specifically petroleum — have remained fairly constant during the past 12 months. West Texas Intermediate, the standard petroleum contract for the New York Mercantile Exchange, held mostly steady between $50$60 in 2019. At this price most producers can make money, and consumers and commercial fleets aren’t outrageously gouged at the pump. A continued bright spot is the commercial real estate market, particularly industrial properties. A recent Statista report states nearly 40% of investors found the industrial property sector the most appealing in 2019. Close behind were multi-family properties. Retail investments were near the bottom of respondents’ interest. The ultimate takeaway from this international stew of economic issues is this: our economy is good, but we might be closer to the edge than we know. The greatest asset in the U.S. economy might
A LOT TO CONSIDER
Even in the best of times, economic fortunes of a nation, much less of the world, are hard to predict. Flagging sales of a popular brand can turn an entire sector on its head, and the whims of political leaders lurch economies through highs and lows.
be its workers, who also are consumers. Their belief in better jobs, and a willingness to buy durable goods have kept business humming, and the economy expanding. A confident consumer is a productive worker. •
The 1983 movie “The Outsiders” was filmed in Tulsa using several local landmarks, including the Admiral Twin Drive-In, for photography locations.
18
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eric ralston Commercial Real Estate Banker eric.ralston@crossfirstbank.com 918.497.5202
7120 South lewis | tulsa, oklahoma 74136 | crossfirstbank.com Member FDIC
Tulsa NAOIP Ad October 2019.indd 1
10/20/2019 1:43:24 PM
Tulsa ranks No. 3 nationally for new and expanded facilities among Tier II cities (Site Selection 2016)
No. 1 city among top 100 metros on growth and inclusion (Brookings Institute 2016)
No. 1 city nationwide for young entrepreneurs (NerdWallet.com 2015)
No. 2 best city for first-time homebuyers (SmartAsset.com 2016)
No. 3 best north American city for energy (The World's Most Competitive Cities 2015)
No. 5 Guthrie Green among top 14 coolest urban spaces in America (ThrilList.com 2015)
No. 6 best state for lowest overall tax burden (WalletHub.com 2016)
Grow with us. Visit GrowMetroTulsa.com or call 800.624.6822 Brien Thorstenberg, CEcD Sr. Vice President, Economic Development Tulsa Regional Chamber brienthorstenberg@tulsachamber.com
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2019 NAIOP EVENTS
www.us.jll.com/valuation-advisory
2019 NAIOP EVENTS 1) Annual Chapter Leadership + Legislative Retreat with NAIOP 2019 Board. From L-R, Grant Allen, Membership Chair; Crystal Keller, Program Chair; Debra Wimpee, Executive Director; Jason Ting, Education Chair; Danny Overton, 2019 NAIOP Vice President; and Bill Beichler, 2019 NAIOP President. 2) Congressional visit with Rep. Kevin Hern. Danny Overton, 2019 NAIOP Vice President; Crystal Keller, Program Chair; Rep. Hern; Debra Wimpee, Executive Director; and Bill Beichler, 2019 NAIOP President. 3) Senate visit with Sen. James Lankford. Pictured: Bill Beichler, 2019 NAIOP President; Sen. Lankford; Debra Wimpee, Executive Director; and Crystal Keller, Program Chair. 4) Senate visit with Sen. James Lankford. Pictured: Steven Watts, DL Chair; Sen. Lankford; and Bill Pielsticker, Sponsor Chair. 5) 2018 Award Winners 6) “2018 Deals of the Year� Gala at the Mayo Hotel 7) Doug DeJarnette, 2018 Development of the Year 8) Derek Bateman, 2018 Scott A. Sanditen Member of the Year
Insight Turning market insight into client advantage Offering: Appraisals Consulting Due Diligence Litigation Support Property Tax Services Purchase Price Allocations Market and Feasibility Studies
Owen Ard, MAI Oklahoma +1 918.492.4844 chip.ard@am.jll.com
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 Carey Weddle or Joe Hardzog at 918.224.3210 for all your Real Estate needs.
ahb.bank
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 October 1, 2019. 21
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OFFICE OVERVIEW
AN OPTIMISTIC ENERGY With continued interest in Tulsa, as well as several significant transactions, developments and construction, the city’s office market is looking bright. As we all know, Tulsa, Oklahoma, is an incredible place to live and work. Our city has been getting looks from large corporations in recent years due to the low cost of living, stable economy, mild climate, and an active and growing real estate market. The biggest wins for new business attraction in the Tulsa market in 2018 included Sofidel’s $360 million facility in Inola, Amazon’s $130 million fulfillment center in Owasso and Greenheck Group’s completion of its $100 million Tulsa campus. According to the Tulsa Regional Chamber, 5,089 jobs were created in northeast Oklahoma in 2018. In reference to the Tulsa office market, it has remained relatively stable over the past year. We have seen several significant lease transactions, redevelopments and new construction projects that brings an optimistic energy to the overall market outlook.
BY LISA BRANDES, RPA 23
OFFICE OVERVIEW
According to CoStar, the current market vacancy
biggest announcement in the CBD during the past
rate is 10.9%. This is up from the vacancy rate of
year was the pre-leasing of the Vast Bank building,
10.48% one year ago. Some of that increase is due
a 102,400-square-foot, six-story office building
to sublease space expiring and coming back on
that will sit adjacent to ONEOK Field. The building
the market from the oil downturn a few years ago.
is set to be delivered in October 2019. Vast Bank
New developments also have contributed to an
(formerly Valley National Bank) owns the building
increase in Tulsa’s overall net inventory by 89,168
and will office on the top floor. Casillas Petroleum
square feet.
and BKD Accounting pre-leased their space in mid2018, despite an almost 18-month future delivery.
Tulsa’s current market rent is $16.08/square foot,
Additionally, the redeveloped Hartford building
which is a 1.5% increase over the past 12 months.
recently announced a large lease with Clarion
Comparing this rent to the national index of $33.15/
Events, (formerly PennWell) and the redeveloped
square foot, our rates are still very affordable and
The Midland building has been leased to one large
attractive to companies outside our region.
undisclosed tech company. In the south submarket, Cityplex attained a new, undisclosed 100,000
Tulsa’s downtown is the hot submarket and it con-
square-foot medical tenant with a late 2020 occu-
tinues to see steady activity and development. The
pancy and has built a related 400 car garage.
NOTABLE LEASE TRANSACTIONS DEAL SIZE (SF)
TENANT NAME
PROPERTY NAME
SUBMARKET
42,840
Undisclosed Tech Company
The Midland
Downtown
40,000
Casillas Petroleum
Vast Building
Downtown
24,703
Undisclosed Oil & Gas Company Corporate Woods
East
24,500
Clarion Events
Hartford Building
Downtown
23,520
eLynx Technologies
Southern Hills Tower
South
20,000
VAST Bank
Vast Building
Downtown
20,000
Bank of Oklahoma
320 S. Boston Ave.
Downtown
100,000
Undisclosed Medical Group
Cityplex Towers
South
LARGEST DELIVERIES AND PROPERTIES UNDER CONSTRUCTION
24
SQUARE FOOTAGE
OWNER
SUBMARKET
DELIVERY DATE
102,400
Vast Building
Downtown
4th Quarter 2019
42,840
The Midland
Downtown
4th Quarter 2019
34,552
South Mingo Plaza
South
1st Quarter 2019
23,038
Bumgarner Asset Management
Midtown
4th Quarter 2019
19,000
South Mingo Plaza
South
4th Quarter 2019
BUILDING
BUYER
SALE PRICE
SIZE (SF)
PRICE/SF
Eastgate Metroplex
Shelbourne Global Solutions
$64,000,000
1,089,201
$59.00
Paradigm Portfolio
Group RMC
$59,500,000
890,000
$67.00
Triad Center 1
Group RMC
$5,400,000
138,708
$39.00
624 Building
Scout 624 LLC
$4,100,000
66,916
$61.00
Holarud Building
K&T Real Estate LLC
$2,600,000
48,000
$54.00
Despite rising construction costs, the office market
and C properties will need to budget for upgrades
still had 238,000 square feet in deliveries over the
to building systems and modern features or risk
past year and another 256,000 square feet is under
losing tenants.
construction, according to CoStar. On the property sales front, activity has been brisk
TRENDS
According to market research, over 500,000
with strong interest from local businesses and
square feet of office space has been removed
investors on smaller properties (20,000 square feet
from the Tulsa market due to the redevelopment
and under). The recent announcement from WPX
of buildings for alternative uses, mostly residen-
Energy to build a 260,000-square-foot office build-
tial. Adaptive reuse, the process of adapting an
ing in downtown starting next year reflects their
existing building for a new type of use, is trending
confidence in our city. Purchases and interest from
with more mixed-use developments in the market.
out-of-state investors has increased significantly
Investors and owners have seen the demand for
with trading of the Paradigm Realty Advisors port-
adaptive spaces and the potential financial bene-
folio plus the Triad Center 1 building by Group RMC
fits versus new construction.
and East Gate Metroplex. The purchase price of each of these two transactions was in the $60 mil-
As millennials age and move to the suburbs to
lion range. Market cap rates are currently at 8.9%.
start families, the demand for office space closer to home is starting to shift. This trend is being seen
FORECAST
in markets where downtown rents have increased
The success of the Vast Bank building is an interest-
the most. Dallas is seeing growth in its suburban
ing dynamic in a competitive market with a large
office markets with added amenities. This demo-
amount of vacancy. Some tenants are willing to
graphic will still want walkability comparable to
pay higher rates for new construction with modern
a downtown market to include restaurants and
features, systems and amenities. We will continue
beverage offerings, plus fitness centers and open
to see the flight to quality that has dominated the
social spaces with games and activities. While Tulsa
market over the past several years. As evidenced
is still in its downtown renaissance phase, we will
above, the largest lease deals are in new Class A
likely see the need for these types of develop-
space. To stay competitive, landlords of Class B
ments over the next few years. •
Tulsa’s “Meadow Gold” neon sign was built during the Great Depression to advertise the Beatrice Foods Co. product. The sign long outlasted the business and now serves as a symbol for Route 66.
25
IT’S RELATIONSHIPS WE BUILD ARCHITECTURE + ENGINEERING W W W. C Y N T E R G Y. C O M
GET THE INSIDE TRACK ON
EVERY PROPERTY EVERY LISTING EVERY DEAL Join the largest, most visited commercial real estate network. CoStar.com
26
Zones Skiatook Lake
North Tulsa
Owasso
Central
Southwest Tulsa
Northeast Tulsa
West Tulsa
Midtown
South Tulsa
Northwest Tulsa
CBD
East Tulsa
Broken Arrow
Owasso
E 126th St N
E 116th St N
52nd W Ave
Sperry
Valley Park
E 98th St N
Northwest
86th St. N.
75
78th St N
Gundys Airport
Owasso
U. S
76th St. N.
66th St. N.
Dawson
75
CBD
Riverside Dr
Carbondale
61st St.
Union
r Rive
71st St. Corridor
Casino Oral Roberts District University
75 Richard Loyd
Jones Jr Airport
W ill Ro ge rs Tu rn pi ke
New Tulsa Broken Arrow
81st St.
91st St. 101st St.
South
169
111th St.
Mu sk og ee Tu rnp ike Onetta
Broken Arrow
145th E Ave 151st St.
131st St. E 141st St S 161st E Ave
141st St
129th E Ave
Mingo Rd
Memorial Dr
Sheridan Rd
Yale Ave
Harvard Ave
Lewis Ave
Peoria Ave
Elwood Ave
Bixby
Garrett Rd
Broken Arrow Loop
Glenpool 33rd W Ave
East
Creek Nation Trnpk
Jenks
Southwest
49th W Ave
21st St.
Fair Oaks
51st St.
Sapulpa
97th W Ave
11th St.
41st St. Br ok en Ar row Ex pw y 61st St.
44
sas
Tu rne rT urn pik e
Harvey Young Airport
169
41st St. Corridor
Historic U.S. 66
Cre ek Tur npi ke
412
31st St.
Midtown
n Arka
Bowden
44
51
West
44
66 S. U.
44
244
W 61st St.
ic or st Hi
Central 21st St.
Oakhurst
Catoosa
Garnett
Mingo Valley Expwy
Sand Springs
Northeast
Apache St.
Creek Turnpike
Tulsa
36th St. N.
Pine St.
244
Crosstown Expwy
Keystone Expwy
Ex pw y
46th St. N.
Creek Turnp ike
Pkwy LL Tisdale
Gli cre ase
Tulsa International Airport
Mingo Valley Expwy
Mowhawk
Verdigris
56th St. N.
North
Skyline Ridge
E 530 Rd
169
Turley
Hi st or ic
68th W Ave
Limestone
27
OFFICE | SEE ZONES PAGE 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
0 0 0
$18 100%
BA
PHOENIX CENTER 2341 W ALBANY BROKEN ARROW, OK 74012
AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A, BROKEN ARROW, OK 74012
28,600 1 2002
4,500 4,500 0
$8.50 84.3%
BA
TIMBERCREST PARK 1700 W ALBANY ST BROKEN ARROW, OK 74012
AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A, BROKEN ARROW, OK 74012
32,000 2 1987
4,500 4,500 0
$9 87.5%
BA
WOLF CREEK OFFICE PARKS 2446-2500 W NEW ORLEANS BROKEN ARROW, OK 74011
BROCK SMITH
24,071 1 2008
4,305 7,057 0
$12.50 70.7%
CBD
110 WEST SEVENTH 110 W 7TH ST TULSA, OK 74103
ROBINSON PARK / AMITY MCCABE / 405-235-6255 211 N. ROBINSON AVE OKLAHOMA CITY, OK 73102
451,355 28 1972
17,656 5,700 0
$8 98.7%
CBD
1215 BUILDING 1215 S BOULDER AVE TULSA, OK 74119
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
148,077 12 1954
10,500 21,000
$14.50 85.8%
CBD
1307 S. BOULDER 1307 S BOULDER TULSA, OK 74119
MCGRAW COMMERCIAL PROPERTIES / NEIL DAILEY / 918-388-9588 4105 S. ROCKFORD AVE, TULSA , OK 74105
44,360 4 1999
CBD
201 EXECUTIVE CENTER 201 W 5TH ST TULSA, OK 74103
PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 E 5TH ST, SUITE 1600 TULSA, OK 74103
74,303 6 1975
4,107 16,170 0
$10 78.2%
CBD
317 MAIN MALL BUILDING 317 S MAIN ST TULSA, OK 74103
BOSTON AVENUE MGMT / TERRY ARGUE / 918-584-1414 320 S. BOSTON, SUITE 1130 TULSA, OK 74103-4721
26,097 4 1907
7,000 13,647
$13 47.7%
CBD
320 SOUTH BOSTON BUILDING 320 S BOSTON TULSA, OK 74103
BOSTON AVENUE MGMT / TERRY ARGUE / 918-584-1414 320 S. BOSTON, SUITE 1130 TULSA, OK 74103-4721
413,632 24 1917
24,000 136,939 0
$16.50 66.9%
CBD
616 S BOSTON AVE 616 S BOSTON AVE TULSA, OK 74119
HARRELL RESIDENTIAL / BRUCE HARRELL / 254-772-9639 4315 LAKE SHORE DR, SUITE M WACO, TX 76710
87,500 7 1925/1970
9,000 12,000 0
$12 86.3%
CBD
CBD
$18 100%
• • • • • • • •
Tulsa’s original Zigzag Art Deco office building Multiple office space sizes available Move in ready Smaller suites available (±677 to ±1,816 SF) Two full floors available at ±6,129 SF each 12’ foot floor to ceiling concrete in creative open space New local ownership Built in 1925 -Designated Historical – -Exterior renovation in 1946 &1984 • ±77 total surface parking spaces/$75/space
624 BOSTON 624 S Boston Ave
Contact: Dylan Seibert 918-392-7253, www.cbre.com CBD
624 BOSTON 624 S BOSTON AVE TULSA, OK 74119
CBRE, INC. / DYLAN SEIBERT / 918-665-3830 1401 S BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
73,496 10 1925/1984
6,129 19,195
$16 78.0%
CBD
8:10 BUILDING 810 S. CINCINNATI TULSA, OK 74119
TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / 918-493-8888 2448 EAST 81ST, STE. 188, TULSA, OK 74137
80,000 6 1924/2015
0 0 0
$19 100%
CBD
BANCFIRST INSURANCE BUILDING
• • • • • •
Creative open office space New local ownership 16’ Clear height 9,663 SF available 26 surface parking spaces Individual street facing suite entry with building and marquis signage • $22 FSG
220 E 8th St
Contact: Dylan Seibert 918-392-7253, www.cbre.com
CBD
BANCFIRST INSURANCE BUILDING 220 E 8TH ST TULSA, OK 74119
CBRE, INC. / DYLAN SEIBERT / 918-665-3830 1401 S BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
20,001 1 1933/2018
9,663 9,663
$22 52%
CBD
BANK OF AMERICA CENTER 15 W 6TH ST TULSA, OK 74119
PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 E 5TH ST. SUITE 1600 TULSA, OK 74103
288,776 32 1967/1985
10,357 15,628 0
$16 94.6%
CBD
BANK OF OKLAHOMA TOWER 101 E 2ND ST TULSA, OK 74103-8100
MCKOY COMPANY / KELLY MCKOY / 918-491-9267” 6100 S. YALE AVE, SUITE 390 TULSA, OK 74136
1,140,684 52 1978
4,795 7,879 0
$19 99.3%
NOTE EXPANDED LISTING
28
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
BEACON BUILDING 406 S BOULDER TULSA, OK 74103
FOX + ALLEN REALTY / PATRICK FOX / 918-576-7300 1345 E. 15TH ST. TULSA, OK 74119
115,237 9 1928
12,849 52,268 0
$12.75 54.6%
CBD
CATHEDRAL DISTRICT BUSINESS CENTER
• • • • • •
823 S Detroit Ave
New roof, exterior and lobby renovation Suites 200, 300, & 400 - ± 14,000 SF floor plates Suite 400 – Creative open space with concrete ceilings Plug & Play – Systems furniture in place in STE. 200 & 300 Basement storage and meeting areas Covered and surface parking
Contact: Dylan Seibert 918-392-7253, www.cbre.com
CBD
CBD
CATHEDRAL DISTRICT BUSINESS CENTER 823 S DETROIT TULSA, OK 74120
CBRE, INC. / DYLAN SEIBERT / 918-665-3830 1401 S BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
64,996 4 1959/2018
818 S DETROIT
• • • • • • • •
818 S Detroit Ave
41,942 41,942
$15 25%
Fully renovated warehouse to creative open office space New local ownership ± 9,791 SF Total South Bay: ± 3,929 SF, 16’ ceilings North Bay: ± 5,862 SF, 14’ ceilings 31 surface parking spaces New roof, HVAC & storefront glass Individual street facing suite entries with signage
Contact: Dylan Seibert 918-392-7253, www.cbre.com CBD
818 S DETROIT 818 S DETROIT AVE TULSA, OK 74119
CBRE, INC. / DYLAN SEIBERT / 918-665-3830 1401 S BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
9,791 1 2019
9,791 9,791 0
$22 0.0%
CBD
FIRST PLACE TOWER 15 E 5TH ST TULSA, OK 74103
PRICE FAMILY PROPERTIES / JOE NEAL / (918) 581-3300 15 E 5TH ST. SUITE 1600 TULSA, OK 74103
624,374 41 1956-1973
58,944 72,398 7,890
$16 88.4%
CBD
• Renovated historic Gates Hardware • Building with microbrew and jazz club • Located in the Greenwood District adjacent to ONEOK Ballpark • Second floor office space available • 15,100± RSF* • Creative open office space • On-site parking – 1 space per 300 SF / $75 / space *Source: architect
GATES HARDWARE BUILDING 323 E Mathew Brady St
Contact: Dylan Seibert 918-392-7253, www.cbre.com CBD
THE GATES HARDWARE BUILDING 323 E MATHEW BRADY ST TULSA, OK 74120
CBRE, INC. / DYLAN SEIBERT / 918-665-3830 1401 S BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
28,000 2 1970/2015
15,100 15,100 0
$32 100%
CBD
MAIN PLAZA I & II 614-616 S MAIN TULSA, OK 74119
PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 E 5TH ST. SUITE 1600 TULSA, OK 74103
51,788 3 1930
5,960 7,160 0
$12 86.2%
CBD
MID-CONTINENT TOWER 401 S BOSTON AVE TULSA, OK 74103
BOSTON AVENUE MGMT / TERRY ARGUE / 918-584-1414 320 S. BOSTON, SUITE 1130 TULSA, OK 74103-4721
321,500 36 1917/1984
15,924 49,426 0
$18.50 84.6%
CBD
ONE PLACE BUILDING 201 S. DENVER AVENUE TULSA, OK 74103
ONE PROPERTY MANAGEMENT / DAVID ATKINSON / 918-574-8776 201 S. DENVER AVE, BOX 1, TULSA, OK 74103
49,704 5 2012
4,562 3,011 4,562
$20.00 93.9%
CBD
ONE TECHNOLOGY CENTER 100 S CINCINNATI AVE TULSA, OK 74103
CBRE, INC. / TERRY PAYNE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
750,000 15 2001
48,156 48,156 0
$18 93.6%
CBD
PAGE BELCHER FEDERAL COURTHOUSE 333 W. 4TH ST. TULSA, OK 74103
ERIC CAIN
454,534 3 1967
92,421 92,421
CBD
PARK CENTRE BUILDING 525 S MAIN ST TULSA, OK 74103
PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103
180,461 14 1973
13,838 44,619 0
$13 75.3%
CBD
PETROLEUM CLUB BUILDING 601 S BOULDER AVE W TULSA, OK 74119
PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103
118,083 16 1962/1995
7,930 11,855 0
$15 90.0%
79.7%
NOTE EXPANDED LISTING
29
OFFICE | SEE ZONES PAGE 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
CBD
PHILCADE NORTH 501 S BOSTON AVE TULSA, OK 74103
PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103
270,038 14 1929
99,967 205,904 0
$14.50 23.7%
CBD
PHILCADE SOUTH 519 S. BOSTON AVE TULSA, OK 74103
PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103
158,295 13 1967
158,295 158,295 0
$12 0%
CBD
PYTHIAN BUILDING 19 W 5TH AVE TULSA, OK 74103
PRICE FAMILY PROPERTIES / DANIEL REGAN / 918-581-3300 15 EAST 5TH ST, SUITE 1600 TULSA, OK 74103
43,248 3 1930
1,612 1,612 0
$12 96.3%
CBD
REUNION CENTER 9 E 4TH ST TULSA, OK 74103
CORPORATE REALTY ADVISORS / NICK PROBST / 918-392-1950 3150 E. 41ST ST., SUITE 102, TULSA, OK 74105
94,560 10 1919
6,000 6,000 0
$18.50 93.7%
CBD
THE KENNEDY BUILDING 321 S BOSTON AVE TULSA, OK 74103
BOSTON AVENUE MGMT / TERRY ARGUE / 918-584-1414 320 S. BOSTON, SUITE 1130, TULSA, OK 74103-4721
182,749 10 1917/1980
50,000 50,000
$16.50 72.6%
CBD
THE PHILTOWER BUILDING 427 S Boston Ave
McGraw Realtors has been locally owned and managed since 1938 and will be celebrating 80 years in business in 2018. The commercial division was founded in 2008 and since then we have acquired some of the most sought after listings in The Greater Tulsa Area. We now have 15 Commercial Real Estate Agents as well as a team dedicated to Commercial Property Management. We look forward to continued growth alongside our great city!
• • • • •
Locally owned and operated. Gorgeous neo-gothic lobby in travertine marble. Building-wide WiFi Internet access Attached, covered parking with 24 hour controlled access Restaurant & juice bar on the first floor with access to the Atlas Marriott lobby, Atlas Grill, deli and coffee shop.
Contact: Lisa Brandes and Neil Dailey, 918-388-9588
THE PHILTOWER BUILDING 427 S BOSTON AVE TULSA, OK 74103 McGraw Commercial Properties
MCGRAW COMMERCIAL PROPERTIES / NEIL DAILEY / 918-388-9588 4105 S. ROCKFORD AVE, TULSA, OK 74105
102,212 23 1928
1,114 1,114 0
$18.00 98.9%
CBD
THE SUN BUILDING 907 S DETROIT AVE TULSA, OK 74120
COATES COMMERCIAL PROPERTIES, LLC / ANDERLE KHALED / 918-610-0700 4111 S. DARLINGTON, STE 640, TULSA, OK 74135
250,707 12 1954
20,080 58,197 0
$12 76.8%
CBD
THOMPSON BUILDING 20 E 5TH ST TULSA, OK 74103
NAI RUPE HELMER, LLC / PAM AVISON / 918-745-1133 6846 S. CANTON AVE, SUITE 250 TULSA, OK 74136
134,080 15 1928
4,469 30,893 0
$13.00 77.0%
CBD
VAST BANK BUILDING
CBD
Industrial . Warehouse . Office . Land . Multi-Family . Retail . Medical /mcgrawcp /mcgraw-commercial-proper ties @mcgraw_cp
This iconic 24-story building built by Waite Phillips during the city’s oil boom has been a part of Tulsa’s downtown skyline since 1928.
4105 S. Rockford Ave. Tulsa, OK 74105 918.388.9588 www.mcgrawcp.com
• • • • • •
110 N. Elgin Ave.
Superb Location directly across from Oneok Field Garage Parking Rooftop “In the Raw” restaurant Private balconies on each floor Exterior signage available Large common area conference room
Contact: Rick Guild 918-645-3677, www.theguildcompany.com
CBD
VAST BANK BUILDING 110 N. ELGIN AVE. TULSA, OK 74120
THE GUILD COMPANY / RICK GUILD / (918) 645-3677 15 WEST 6TH ST, SUITE 2350 TULSA, OK 74119
101,061 6 2019
0.0 0.0 0.0
$32 100%
CBD
WILLIAMS CENTER TOWER I ONE W 3RD ST TULSA, OK 74103
DANIELS GREER PROPERTIES, LLC / 918-742-7500 ONE WEST THIRD, SUITE 1200 TULSA, OK 74103
314,589 17 1982
0.0 0.0 0.0
$12 100%
CENTRAL CENTRAL
DOMINION BUILDING 1645 S. 101ST E. AVE. TULSA, OK 74128
SAMSON COMMERCIAL REAL ESTATE SERVICES / MIKE LESTER / 918-284-0700 1645 S. 101ST. E. AVE., STE. 101, TULSA, OK 74128
149,000 5 1993
125,100 125,100
$15 16.0%
CENTRAL
GUARANTY BUILDING 10159 E 11TH ST TULSA, OK 74128
RUFFIN PROPERTIES / CARL VINCENT / 918-493-7100 7130 S. LEWIS, SUITE 250 TULSA, OK 74136
98,316 6 1983
15,767 26,455 0
$14 73.1%
CENTRAL
TECHRIDGE OFFICE PARK / BLAINE 9820 E 41ST ST TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
58,870 4 1980
9,927 21,870 13,769
$13 62.9%
CENTRAL
TECHRIDGE OFFICE PARK / CHEROKEE 4150 S 100TH E AVE TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
53,522 4 1980
3,277 10,216 0
$19 80.9%
CENTRAL
TECHRIDGE OFFICE PARK / COMANCHE 4115 S 100TH E AVE TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
56,551 2 1979
0 0 0
$12.50 100%
NOTE EXPANDED LISTING
30
PROJECT NAME ADDRESS CITY / STATE / ZIP
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (RSF) FLOORS YEAR BUILT
CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE
GROSS RENTAL RATE % LEASED
CENTRAL
TECHRIDGE OFFICE PARK / GRANT 4110 S 100TH E AVE TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
35,429 2 1978
2,518 10,688 0
$13 69.8%
CENTRAL
TECHRIDGE OFFICE PARK / GREER 9920 E 42ND ST TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
39,357 2 1978
10,018 14,448 0
$13 63.3%
CENTRAL
TECHRIDGE OFFICE PARK / LOGAN 3840 S 103RD E AVE TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
62,560 2 1981
7,113 29,395 0
$13 53.0%
CENTRAL
TECHRIDGE OFFICE PARK / MILES 4135 S 100TH E AVE TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
33,788 2 1979
0 0 0
$12.50 100.0%
CENTRAL
TECHRIDGE OFFICE PARK / OSAGE 9726 E 42ND ST TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
29,030 2 1974
1,088 2,661 0
$13 90.8%
CENTRAL
TECHRIDGE OFFICE PARK / PAWNEE 9910 E 42ND ST TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
39,750 2 1979
11,576 21,337 0
$13.00 46.3%
CENTRAL
TECHRIDGE OFFICE PARK / ROGERS 9717 E 42ND ST TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
46,128 2 1975
2,053 4,628 0
$12.50 90.0%
CENTRAL
TECHRIDGE OFFICE PARK / SEMINOLE 9810 E 42ND ST TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
48,300 2 1977
7,652 17,577 0
$13 63.6%
CENTRAL
TECHRIDGE OFFICE PARK / WOODWARD 3810 S 103RD E AVE TULSA, OK 74146
TECHRIDGE OFFICE PARK / SCOTT STEPHENSON / 918-628-0810 9726 EAST 42ND STREET, STE. 100, TULSA, OK 74146
58,835 2 1982
16,630 30,437 0
$13 48.3%
EAST
4848 OFFICE CENTER 4848 S 129TH E AVE TULSA, OK 74134
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
101,100 3 2000
0 0 0
$16.50 100.0%
EAST
CORPORATE WOODS 4500 S 129 E AVE TULSA, OK 74134
ROBINSON PARK / AMITY MCCABE / 405-235-6255 211 N. ROBINSON AVE OKLAHOMA CITY, OK 73102
553,000 3 1980
24,703 57,080 0
$16.50 89.7%
EAST
EASTGATE METROPLEX 14002 E 21ST ST TULSA, OK 74134
SIMON PROPERTY GROUP / 317-636-1600 225 W. WASHINGTON ST INDIANAPOLIS, IN 46204
1,016,451 3 1985
28,117 79,011 0
$14 92.2%
EAST
EXCHANGE CENTER 4606-08 S GARNETT TULSA, OK 74146
ROBINSON PARK / AMITY MCCABE / 405-235-6255 211 N. ROBINSON AVE OKLAHOMA CITY, OK 73102
140,006 12 1979
11,715 32,374 0
$15.00 76.9%
EAST
EXCHANGE TOWER 4500 S GARNETT RD TULSA, OK 74146
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
167,000 10 1982
5,888 11,222 0
$14.50 93.3%
EAST
SOUTHPARK 4343 S 118TH E AVE TULSA, OK 74146
AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A, BROKEN ARROW, OK 74012
105,000 2 1972
35,000 35,000 0
$10.50 66.7%
EAST
STATE FARM 12222 STATE FARM BLVD TULSA, OK 74146
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
287,580 2 1989
287,580 287,580
$15 0.0%
EAST
TOWNE CENTER - BUILDING A 10810 E 45TH ST TULSA, OK 74146
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
191,000 4 1980
5,320 8,799 0
$13 95.4%
EAST
TOWNE CENTER - BUILDING B 10820 E 45TH ST TULSA, OK 74146
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
52,500 3 1980
4,143 23,700 0
$13 54.9%
EAST
TOWNE CENTER - BUILDING C 10830 E 45TH ST TULSA, OK 74146
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
52,500 3 1980
4,730 10,049 0
$13 80.9%
EAST
NOTE EXPANDED LISTING
31
OFFICE | SEE ZONES PAGE 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
MIDTOWN MIDTOWN
2021 LEWIS CENTER 2021 S LEWIS AVE TULSA, OK 74104
ROBINSON PARK / AMITY MCCABE / 405-235-6255 211 N. ROBINSON AVE, OKLAHOMA CITY, OK 73102
87,346 7 1985
3,903 10,190 0
$20 88.3%
MIDTOWN
21 LEWIS PLAZA 2424 E 21ST ST TULSA, OK 74114
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
61,443 5 1967
3,662 7,045 0
$18 88.5%
MIDTOWN
3000 CENTER 3015 E SKELLY DR TULSA, OK 74105
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
57,258 2 1972
6,100 30,000 0
$10 47.6%
MIDTOWN
3100 CENTER 3105 E SKELLY DR TULSA, OK 74105
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
52,016 0 1972
10,100 40,799 0
$10 21.6%
MIDTOWN
4415 S. HARVARD 4415 S HARVARD TULSA, OK 74135
LINCOLN HARRIS, CSG / NICOLE SMITH / 918-960-2844 4415 S. HARVARD AVE, STE 130 TULSA, OK 74135
44,500 2 1980
4,762 8,211 0
$18 81.5%
MIDTOWN
AMERICAN PLAZA 6060 S. AMERICAN PLAZA ST. TULSA, OK 74135
CBRE, INC. / TERRY PAYNE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
126,752 8 2013
11,053
MIDTOWN
BOSTON PLACE 1516 S BOSTON AVE TULSA, OK 74119
MAIN SQUARE TOWERS, INC. / RACHEL COX / 918-398-2745 1601 S. MAIN TULSA, OK 74159
44,611 4 1983
3,300 3,300 0
MIDTOWN
BOULDER TOWERS
• • • • • • • • • •
1437 S Boulder Ave
$17 91.3% $14 92.6%
Prestigious 15-story office tower Close to Inner Dispersal Loop, Downtown and the Gathering Place Close proximity to Ambassador Hotel Covered parking Building conference center Card access system with 24/7 security and building engineers Secure outdoor patio On-site bank, deli and convenience store Fitness center with showers and locker rooms On-site management and engineering
Contact: Terry Payne, SIOR CBRE, Inc. 918-665-3830 MIDTOWN
BOULDER TOWERS 1437 S BOULDER AVE TULSA, OK 74119
CBRE, INC. / TERRY PAYNE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
521,802 15 1960/1980
8,296 13,957
$17 97.3%
MIDTOWN
CBRE OKLAHOMA BUILDING 1401 S. BOULDER TULSA, OK 74119
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
38,089 3 1954
0 0 0
$13 100%
MIDTOWN
COLUMBIA OFFICE BUILDING 2651 E 21ST ST TULSA, OK 74114
DLRE, INC. / DANNY OVERTON / (918) 895-6700 3015 E. SKELLY DR., STE.410 TULSA, OK 74105
33,176 5 1959
1,440 2,200 0
$15 93.4%
MIDTOWN
COMMERCE TOWER 5801 E 41ST ST TULSA, OK 74135
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
96,000 10 1981
2,803 22,276 0
$14 76.8%
MIDTOWN
CORPORATE PLACE 5800 E SKELLY DR TULSA, OK 74135
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
120,000 13 1973
8,509 25,998 0
$14.50 78.3%
MIDTOWN
FORMER SCOTTISH RITE BUILDING 6355 E. SKELLY DR. TULSA , OK 74135
CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
53,700 3 1970
53,700
MIDTOWN
FOUNTAINS 4815-4867 S SHERIDAN TULSA, OK 74145
BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
87,700 1 1970
1,567 8,623 0
$12.65 90.2%
MIDTOWN
FULTON 46 BUILDING 5350 E 46TH ST TULSA, OK 74135
BAUER & ASSOCIATES / SHEILA COOPER / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
23,347 2 1978
6,298 8,798 0
$10.50 62.3%
MIDTOWN
HARVARD 41 4130-4154 S HARVARD TULSA, OK 74135
MONTE DUNHAM R.E. / PERRY DUNHAM / 918-627-4230 6355 E. 41ST ST. TULSA, OK 74145
40,000 2
956 2,337 0
$14.50 94.2%
MIDTOWN
HARVARD GARDENS 4520 S HARVARD TULSA, OK 74135
MONTE HERREL / 918-671-5262 TULSA, OK 74135
23,219 2 1981
0 0 0
$15 100.0%
MIDTOWN
HARVARD TOWER 4815 S HARVARD AVE TULSA, OK 74135
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
66,500 6 1969
5,164 20,263 0
$12 69.5%
$6.48 0%
NOTE EXPANDED LISTING
32
PROJECT NAME ADDRESS CITY / STATE / ZIP
MIDTOWN
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (RSF) FLOORS YEAR BUILT
INTERNATIONAL PLAZA
• • • • • • •
1350 S Boulder Ave
CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE
GROSS RENTAL RATE % LEASED
Superb Location in the heart of uptown Tulsa Terrific 360° Views Marvelous Interior Finishes Common Area Meeting Room Exercise Facility, Lockers and Showers Great Proximity to the IDL and BA Expressway Ample onsite parking
Contact: Barry K. Boethin, 1350 S Boulder, Suite 100, 918-585-6488 MIDTOWN
INTERNATIONAL PLAZA 1350 S BOULDER AVE TULSA, OK 74119
MIDTOWN
MAPCO PLAZA
INTERNATIONAL PLAZA / BARRY BOETHIN / 918-585-6488 1350 S. BOULDER STE. 100 TULSA, OK 74119 • • • • • • • • • • •
1717 S Boulder Ave W
115,000 12 1957
5,517 5,700 0
$16.50 95%
On-site management & ownership and after-hours security Abundant free parking including covered executive parking New 75 seat common area conference center with AV equipment Individual thermostat controls Standby generators provide protected power 24/7 New fitness center with men’s/women’s locker rooms and showers Easy access to expressways and within 25 minutes of any point in Tulsa 24-hour card access system and closed circuit video surveillance River Trails and A Gathering Place within walking/biking distance Nice residential neighborhoods surround the area AT&T and Cox updated infrastructure
Contact: Patrick Coates, CCIM, 918-610-0700 Coates Commercial Properties, LLC www.coatesproperties.com MIDTOWN
MAPCO PLAZA 1717 S BOULDER AVE W TULSA, OK 74119
COATES COMMERCIAL PROPERTIES, LLC / PATRICK COATES, CCIM / 918-610-0700” 4111 S. DARLINGTON, STE 640, TULSA, OK 74135
140,825 10 1983
13,261 13,261 0
$16.50 90.6%
MIDTOWN
MERIDIAN TOWER 5100 E SKELLY DR TULSA, OK 74135
WIGGIN PROPERTIES, LLC / VICKI PATTERSON / 918-935-2010 5100 E. SKELLY DR, STE 110, TULSA, OK 74103-74135
205,891 10 1981
21,323 24,100 0
$21.50 88.3%
MIDTOWN
MIDWAY OFFICE BUILDING 2727 E 21ST ST TULSA, OK 74114
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
46,769 6 1974
5,778 12,132 0
$14.50 74.1%
MIDTOWN
ONE PLACE TOWER 202 S. CHEYENNE AVE TULSA, OK 74105
ONE PROPERTY MANAGEMENT / DAVID ATKINSON / 918-574-8776 201 S. DENVER AVE, BOX 1, TULSA, OK 74103
328,543 17 2013
6,501 16,139 0
$20 95.1%
MIDTOWN
PARKLAND PLAZA 2121 S COLUMBIA AVE TULSA, OK 74114
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
52,415 7 1969
2,707 9,470 0
$13.50 81.9%
MIDTOWN
PEACHTREE SQUARE 4157 S. HARVARD TULSA, OK 74135
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
25,000 1980
1,446 1,446 0
$14 94.2%
MIDTOWN
SOUTHLAND TOWER 4111 S DARLINGTON AVE TULSA, OK 74135
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
115,376 12 1995
25,000 69,226 10,654
$14 40.0%
MIDTOWN
ST. JOHN BUILDING CORP 1924 S UTICA AVE TULSA, OK 74104
ADWON PROPERTIES, INC. / JORDAN HELMERICH / 918-749-9555 PO BOX 52808, TULSA, OK 74152
123,480 14 1975
8,343 26,307 0
$17.50 78.7%
MIDTOWN
UTICA PLACE 2200 S UTICA PL TULSA, OK 74110
BUMGARNER ASSET MGMT / CHRIS BUMGARNER / 918-587-1900 401 S. BOSTON , STE 3400, TULSA, OK 74103
110,000 10 2008
6,000 6,000 0
$25 94.5%
MIDTOWN
UTICA PLAZA 2100 S UTICA TULSA, OK 74114
BUMGARNER ASSET MGMT / CHRIS BUMGARNER / 918-587-1900 401 S. BOSTON , STE 3400, TULSA, OK 74103
53,000 5 1996
0 0 0
$23 100.0%
MIDTOWN
WESTERN FINANCIAL CENTER 4880 S LEWIS AVE. TULSA, OK 74105
DIXON R.E. CO., INC. / RENETTE DIXON / 918-748-0308 4870 S. LEWIS, SUITE 100 TULSA, OK 74105
50,098 2 1983
13,717 18,040 0
$15 64.0%
NOTE EXPANDED LISTING
33
OFFICE | SEE ZONES PAGE 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
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 6,000 0
$5.40 79.8%
NORTH
VERIZON CHEROKEE CAMPUS 6929 N LAKEWOOD AVE TULSA, OK 74117
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
860,000 4 1985
145,994 366,345 0
$13 57.4%
EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
53,755 1 1969
0 0 157,000
$4.55 100.0%
NORTHEAST NE
GREEN VALLEY CENTER 11333 E PINE ST TULSA, OK 74116
OWASSO OWASSO
FIRST BANK CENTER 8601 N GARNETT ROAD OWASSO, OK 74055
TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / DEREK BATEMAN / 918-493-8888 2448 EAST 81ST, STE. 188, TULSA, OK 74137
65,000 2 2009
12,000 23,900
$19 63.2%
OWASSO
VILLAGE OFFICE 8551 N. 125TH E. AVE. OWASSO, OK 74055
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
19,700 2 2004
2,772 2,772 0
$17 85.9%
SOUTH SOUTH
51 YALE BUILDING 5110 S YALE TULSA, OK 74135
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
72,000 5 1982
7,609 12,598 0
$15 82.5%
SOUTH
6655 LEWIS BUILDING 6655 S LEWIS AVE TULSA, OK 74135
PRICE EDWARDS / MATT SURRETT / 918-394-1000 7633 E. 63RD PL. , STE. 400 TULSA, OK 74133
50,672 3 1986
8,400 26,146 0
$18.50 48.4%
SOUTH
ADS BUILDING 8301 E. 51ST ST. TULSA, OK 74145
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
25,126 2
14,292 19,549 0
$10 22.2%
SOUTH
AMERICAN PLAZA 6011 S URBANA AVE TULSA, OK 74101
PAINE & ASSOCIATES / MATT MARDIS / 918-481-5380 5810 E. SKELLY DR, STE. 1900 TULSA, OK 74135
81,000 8 2013
2,900 2,900
$23.50 96.4%
SOUTH
ATLANTA SOUTH OFFICE PARK 2502-2532 E 71ST TULSA, OK 74136
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
81,450 1 1980
1,843 7,751 0
$13 90.5%
SOUTH
AUTUMN OAKS 6846 S CANTON TULSA, OK 74136
PRICE EDWARDS / MATT SURRETT / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
117,590 7 1982
35,419 77,499 0
$15 34.1%
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 AVE TULSA, OK 74105
ROBINSON PARK / AMITY MCCABE / 405-235-6255 211 N. ROBINSON AVE OKLAHOMA CITY, OK 73102
124,464 8 1985
6,950 19,629 0
$22 84.2%
SOUTH
BRADEN PARK 7170 S BRADEN TULSA, OK 74136
CBRE, INC. / TERRY PAYNE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
29,274 2 1990
0 0 0
$13 100%
SOUTH
BRANIFF MART 5401 S SHERIDAN RD TULSA, OK 74145
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
32,000 0 1978
3,000 8,100 0
$10 74.7%
SOUTH
CENTRAL BANK BUILDING 8908 S YALE AVE TULSA, OK 74137
CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
59,739 4 1984/1995
996 996 0
$20 98.3%
100%
NOTE EXPANDED LISTING
34
PROJECT NAME ADDRESS CITY / STATE / ZIP
SOUTH
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
CITYPLEX TOWERS
SIZE (RSF) FLOORS YEAR BUILT
CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE
GROSS RENTAL RATE % LEASED
• 24/7 operations & security • On-site food court, conference & banquet facilities, meeting rooms, auditoriums, convenience store • Large, efficient floor plates • Two primary electrical feeds with automatic transfer • Dual entrance sonet ring fiber optics • Additional development sites for build-to-suit
2408-2488 E 81st
Contact: Michael Predovic, Trinity Corporate Real Estate Advisors, 918-493-8888 SOUTH
CITYPLEX TOWERS 2408-2488 E 81ST TULSA, OK 74137
TRINITY CORPORATE REAL ESTATE ADVISORS, LLC / MICHAEL PREDOVIC / 918-493-8888 2448 EAST 81ST , STE. 188, TULSA, OK 74137
1,549,172 60 1981
72,000 569,311 17,710
$14-$15 63%
SOUTH
COPPER OAKS (PHASES I & II) 7010-7060 S YALE TULSA, OK 74136
ROBINSON PARK / AMITY MCCABE / 405-235-6255 211 N. ROBINSON AVE , OKLAHOMA CITY, OK 73102
55,790 21 1983
175 175 0
$14.50 99.7%
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
43,446 2 1985
7,033 33,921 779
$11 21.9%
SOUTH
EXECUTIVE CENTER #1
• • • • • • •
7136 S Yale Ave
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 AVE TULSA, OK 74136
COURY PROPERTIES, INC. / SCOTT MORGAN / 918-583-0201 7134 S. YALE, SUITE 125 TULSA, OK 74136
73,516 5 1982
1,145 1,145 0
$16.50 98.4%
SOUTH
EXECUTIVE CENTER II 7134 S YALE AVE TULSA, OK 74136
COURY PROPERTIES, INC. / SCOTT MORGAN / 918-583-0201 7134 S. YALE, SUITE 125 TULSA, OK 74136
113,369 9 1984
7,428 20,618 0
$16.50 81.8%
SOUTH
FOX PLAZA 5416 S YALE AVE TULSA, OK 74135
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
80,930 6 1970
13,968 23,300 0
$12.50 71.2%
SOUTH
GEOPHYSICAL RESOURCE CAMPUS 8801 S YALE TULSA, OK 74137
PRICE EDWARDS / MATT SURRETT / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
102,000 5 1984
3,848 10,314 0
$21 89.9%
SOUTH
GEOPHYSICAL RESOURCE CAMPUS 8811 S YALE (NEW BUILDING) TULSA, OK, 74137
PRICE EDWARDS / MATT SURRETT / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
78,992 4 2015
0 0 0
$25 100.0%
NOTE EXPANDED LISTING
35
OFFICE | SEE ZONES PAGE 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
SOUTH
GRACE BUSINESS CENTER 6218 S LEWIS AVE TULSA, OK 74136
CBRE, INC. / LESLIE KIRKPATRICK CORNELL / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
25,478 2 1973
4,120 7,126 0
$13.50 72.0%
SOUTH
IBC TOWER 2250 E 73RD ST TULSA, OK 74136
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
62,998 6 1982
6,632 8,561 0
$16 86.4%
SOUTH
INTERNATIONAL TOWER 5200 S. YALE AVE. TULSA , OK 74135
BAUER & ASSOCIATES / VICKI TAPP / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
32,836 7
2,295 11,786 0
$12 64.1%
SOUTH
KENSINGTON BUSINESS CENTER 7140 S LEWIS AVE TULSA, OK 74136
RUFFIN PROPERTIES / CARL VINCENT / 918-493-7100 7130 S. LEWIS, SUITE 250 TULSA, OK 74136
235,973 2 1983
16,542 56,183 0
$15.50 76.2%
SOUTH
KENSINGTON TOWER I 7130 S LEWIS AVE TULSA, OK 74136
RUFFIN PROPERTIES / CARL VINCENT / 918-493-7100 7130 S. LEWIS, SUITE 250 TULSA, OK 74136
164,592 10 1984
46,039 79,483 0
$18.50 51.7%
SOUTH
LEWIS PARK 5319 S LEWIS TULSA, OK 74105
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
17,805 2 1985
0 0 0
$13 100%
SOUTH
LEWIS SQUARE OFFICE PARK 6202 S LEWIS AVE TULSA, OK 74136
PARAMOUNT COMMERCIAL PROP. / ALAN HARJU / 918-743-8000 6202 S. LEWIS, SUITE E, TULSA, OK 74136
28,344 1 1981
1,013 1,995 0
$13.50 93.0%
SOUTH
MARKET PLACE WEST 9410 E 51ST ST TULSA , OK 74145
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
27,600 1984
6,474 6,474 0
$11 76.5%
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
3,021 8,485 0
$13 76.4%
SOUTH
ONE MEMORIAL PLACE 7633 E 63RD PL TULSA, OK 74133
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
88,796 5 1981
9,392 27,395 0
$16.50 69.1%
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
Contact: Alan Harju, Paramount Commercial Properties, LLC, 918-743-8000 or 918-645-2355
SOUTH
OXFORD PLACE 6600-6666 S SHERIDAN ROAD TULSA, OK 74133
SOUTH
PARK TOWERS 5314 S Yale Ave
PARAMOUNT COMMERCIAL PROP. / ALAN HARJU / 918-743-8000 6202 S. LEWIS, SUITE E, TULSA, OK 74136
• • • • • • •
82,611 4 1986/2013
14,521 24,552 0
$17.50 70.3%
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 AVE TULSA, OK 74135
CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135
107,075 11 1981
5,000 10,000 0
$17 90.7%
NOTE EXPANDED LISTING
36
PROJECT NAME ADDRESS CITY / STATE / ZIP
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (RSF) FLOORS YEAR BUILT
CONTIGUOUS SPACE TOTAL AVAILABLE SUBLEASE SPACE
GROSS RENTAL RATE % LEASED
SOUTH
PRISM OFFICE BUILDING 8282 S MEMORIAL DR TULSA, OK 74133
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
80,450 4 1982
4,892 6,740 0
$16 91.6%
SOUTH
RICH & CARTMILL BUILDING 2738 E 51ST TULSA, OK 74105
COATES COMMERCIAL PROPERTIES, LLC / PATRICK COATES, CCIM / 918-610-0700” 4111 S. DARLINGTON, STE 640, TULSA, OK 74135
45,683 4 1985
1,521 3,177 0
$16 93.0%
SOUTH
RICHMOND PLAZA • • • •
Attractive granite and glass exterior Stunning views of the city Immediate access to the city’s expressway system Less than 15 minutes to Downtown, and to Tulsa’s International and Riverside Airports • Near hotels, restaurants, shopping centers and recreation • On-Site banking facilities with ATM
4200 E Skelly Dr
Contact: Jason M. Kennon, Case & Associates Properties, Inc., 918-492-1983
SOUTH
RICHMOND PLAZA 4200 E SKELLY DR TULSA, OK 74135
CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135
166,332 10 1983
6,000 10,000 0
$21 94.0%
SOUTH
RIVERBRIDGE OFFICE PARK 1323 E 71ST ST TULSA, OK 74136
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
67,000 4 1984
44,855 44,855 0
$14 33.1%
SOUTH
RIVERWALK CROSSING 300-100 RIVERWALK JENKS, OK 74137
PAINE & ASSOCIATES / MATT MARDIS / 918-481-5380 5810 E. SKELLY DR, STE. 1900 TULSA , OK 74135
111,162 2
11,292
$14 100.0%
SOUTH
ROAD SCIENCE BUILDING 6502 S YALE AVE TULSA, OK 74136
CUSHMAN & WAKEFIELD / COMMERCIAL OKLAHOMA INC. / JARED ANDRESEN / 918-359-3520 4111 S. DARLINGTON, STE. 1190, TULSA, OK 74135
188,041 3 1987
109,508 109,508 109,508
$12 41.8%
SOUTH
SHADOW MOUNTAIN OFFICE CENTER 5840 S MEMORIAL DR TULSA, OK 74145
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
66,500 3 1980
9,529 27,222 0
$10.50 59.1%
SOUTH
SOUTHERN HILLS TOWER 2431 East 61st Street
• • • •
Magnificent view of Southern Hills Country Club and Golf Course Executive Covered Parking High Quality, Class A Office Building Nearby restaurants, retail centers, hotel, convention facilities and exclusive residential neighborhoods • Easy access to I-44, Hwy 75, Riverside Drive and the Creek Nation Turnpike • On-site banking facilities with drive-thru and ATM Contact: Jason M. Kennon, Case & Associates Properties, Inc., 918-492-1983
SOUTH
SOUTHERN HILLS TOWER 2431 E 61ST TULSA, OK 74136
CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135
151,879 8 1981
1,600 3,000 0
$21 98.0%
SOUTH
SOUTHERN OAKS 7335 S LEWIS AVE TULSA, OK 74136
CUSHMAN & WAKEFIELD / COMMERCIAL OKLAHOMA INC. / JARED ANDRESEN / 918-359-3520 4111 S. DARLINGTON, STE. 1190, TULSA, OK 74135
31,728 3 1985
4,310 4,310 0
$15 86.4%
SOUTH
SOUTHERN RIDGE • • • • • • •
6506 S Lewis Ave
Prime Locations near Southern Hills Country Club Renovated Lobbies and Common Areas Ample Lighted Parkings 24-hour Access Fiber Telecommunications Available Prompt Attention by Building Management Attractive Lease Rates
Contact: Scott Morgan, Coury Properties, Inc., 918-556-8214
SOUTH
SOUTHERN RIDGE 6506 S LEWIS AVE TULSA, OK 74136
COURY PROPERTIES, INC. / SCOTT MORGAN / 918-583-0201 7134 S. YALE, SUITE 125 TULSA, OK 74136
65,705 2 1984
4,347 13,920 0
$13 78.8%
NOTE EXPANDED LISTING
37
OFFICE | SEE ZONES PAGE 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
SOUTH
THE PARK 5151-5157 E 51ST TULSA, OK 74135
FEARS & CLARK / BRAXTON FEARS / 918-481-2080 11620 E. SKELLY DR TULSA, OK 74135
56,756 2 1977
56,756 56,756 0
$12.50 0%
SOUTH
THREE MEMORIAL PLACE 7615 E 63RD PL TULSA, OK 74133
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
47,000 2 1982
6,933 7,821 0
$15 83.4%
SOUTH
TRIAD CENTER I 7666 E. 61ST S TULSA, OK 74133
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
147,000 6 1982
17,170 58,377
$16.50 60.3%
SOUTH
TRIAD II 7645 E 63RD ST TULSA, OK 74133
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
151,023 6 1986
87,000 107,430 0
$15 28.9%
SOUTH
TWO MEMORIAL PLACE 8023 E 63RD PL TULSA, OK 74133
CBRE, INC. / MARY MARTIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
135,000 8 1982
7,922 18,436 0
$16.50 86.3%
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
4,856 4,856 0
$13.50 75.2%
SOUTH
WARREN PLACE 6100 South Yale Avenue
• 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 Contact: Kelly McKoy, 918-403-9160 kmckoy@mckoycompnay.com
SOUTH
WARREN PLACE ONE 6100 S YALE TULSA, OK 74136
MCKOY COMPANY / KELLY MCKOY / 918-491-9267 6100 S. YALE AVE, SUITE 390 TULSA, OK 74136
470,025 20 1983
36,233 96,716 46,257
$25 79.4%
SOUTH
WARREN PLACE TWO 6120 S YALE TULSA, OK 74136
MCKOY COMPANY / KELLY MCKOY / 918-491-9267 6100 S. YALE AVE, SUITE 390 TULSA, OK 74136
489,870 19 1986
26,275 47,859
$25 90.2%
SOUTH
WATERFORD PLAZA 9108 S. SHERIDAN TULSA, OK 74133
W/S COMMERCIAL / LINDSEY WARREN / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
28,883 1 2007
8,993 11,193 0
$15 61.2%
SOUTH
YORKTOWN PLACE 6914 S YORKTOWN TULSA, OK 74136
NAI RUPE HELMER, LLC / PAM AVISON / 918-745-1133 6846 S. CANTON AVE,, SUITE 250 TULSA, OK 74136
50,988 2 1987
5,219 13,091 0
$12 74.3%
SOUTH
YORKTOWN PLAZA 2087 E. 71ST ST. TULSA, OK 74136
CBRE, INC. / TERRY PAYNE / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
110,516 2 1988
SOUTH
BRIDGEPORT OFFICE PARK 6400 S. LEWIS AVE TULSA, OK 74136
DLRE, INC. / DANNY OVERTON / (918) 895-6700 3015 E. SKELLY DR., STE.410 TULSA, OK 74105
36,000 2 1982
56,000 14,000 1,000
$12 49.3% $12.50 97.2%
NOTE EXPANDED LISTING
38
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NAIOP 2019 NAIOP Oklahoma Members
TREVOR ABARZUA Arizona Commerce Authority
WILLIAM P. BEICHLER Legacy Commercial Properties Advisors
CHRISTOPHER CARTER Hall Estill
RAYMOND DAVIS McGraw Commercial Properties
ZACHARY HARRIS Stan Johnson Co.
DICK ALABACK McGraw Commercial Properties
DAVID BENDEL Siegfried Companies Inc.
JOSH CHESNEY Cyntergy AEC
NATHAN ELLSWORTH Ellsworth Contraction
DARLA HELLER Broken Arrow Chamber
GRANT ALLEN HUB International
PAM BEWLEY Commercial Title & Escrow Services Inc.
MEGAN CHINOWTH GH2 Architects
TANDA FRANCIS Price Edwards & Co.
BRIAN L. HUMPHREY City National Bank and Trust
OWEN ARD JLL Valuation & Advisory Services
ROSS BISHOP Grand Bank
STEPHANIE CLIFF HUB International
STEVE GANZKOW American Residential
COLLIER IMGRUND Newmark Grubb Levy Strange Beffort
sultants Inc. MICHAEL D. ARGO McGraw Commercial Properties
RACHEL BLANKENSHIP Secure Title & Escrow LLC
DAVID COBB Terracon Con
RYAN GORMAN Advocate Commercial Real Estate Advisors LLC
CARA LEIGH INGRAM McGraw Commercial Properties
sultants Inc. AARON ARMSTRONG BancFirst Tulsa
LISA BRANDES McGraw Commercial Properties
KATHERINE COFER KKT Architects Inc.
DREW ARY Keller Williams Realty
SUSAN BUCK Flintco LLC
ANDREW K. COFFEY Arvest Bank
BLAKE GOSSETT RECO Enterprises
JOHN G. GRAY McGraw Commercial Properties
KORBIN K. IRWIN BOK Financial
TIM JAMES Crossfirst Bank
sultants Inc. DAVID E. ATKINSON One Property Management
CHRIS J. BUMGARNER BAM LLC
CONNOR M. COOPER FirsTitle and Abstract Services
DEREK J. BATEMAN Trinity Corporate Real Estate Advisors LLC
JEFFREY B. BYERS Byers Company
KEVIN COULTER JLL Valuation & Advisory Services
JARED L. CABLE First National Bank & Trust
NEIL T. DAILEY McGraw Commercial Properties
BRIAN BEAM Owasso Land Trust
40
BRADI GROSS Walman Commercial Real Estate Services LLC
RICK GUILD The Guild Co.
JOSEPH HARDZOG American Heritage Bank
WILLIAM B. JONES PrayWalker
JASON M. KENNON Case & Associates
DAVE KOLLMANN Flintco LLC
GARY KRISMAN McGraw Commercial Properties
JOE NEAL Price Family Properties
STEPHANIE D. PUTZKE Cyntergy AEC
TAMIE SEMLER Secure Title & Escrow LLC
JASON TING Ting Realty
ALEX LEIKAM BOK Financial
BRADY NGUYEN Capital Insurance Partners LLC
KRISTI RADEBAUGH Larco Properties LLC
RYAN J. SHAFFER CBRE
CRAIG TOMLINSON Stan Johnson Co.
ROBERT K. LEIKAM American Residential Group LLC
ALICIA J. NOLEN GBR Properties
ERIC RALSTON Crossfirst Bank
KARA SMITH Rupe Helmer Group
JEFF TRACY Stan Johnson Co.
KIMBERLY LEWIS FirsTitle & Abstract Services LLC
CRAIG O’CONNOR HUB International
JASON RANDALL Legacy CPA
LARRY SMITH Larco Properties LLC
CAITIE-BETH TRUITT Truco Development
NICHOLAS LOMBARDI Frisbie Lombardi Commercial Real Estate Services
THOMAS P. O’KEEFE INTRUST Bank
CHRIS RECTOR Firstar Bank
JOEY SNYDER First Fidelity Bank
CAREY VELEZ McGraw Commercial Properties
DANNY OVERTON DLRE Inc.
DANIEL REGAN Price Family Properties
ASHLEY L. STEPHENSON WorkSpace Resource Inc.
CARL VINCENT Ruffin Properties
BOB PARKER Owasso Land Trust
ERIN RENFROW Roofing Life
DAVID STEWART Mid-America Industrial Park
STEVEN WATTS Addax Development
BRIAN PAINE Paine & Associates
WILLIAM RICHERT Richert Properties Inc.
WARREN STEWART McGraw Commercial Properties
KENNETH WEBB Blackshare Environmental Solutions
MARNIE PHELPS Manhattan Construction Co.
DAVIS ROBSON The Robson Companies Inc.
ALAN TAYLOR Wallace Engineering
CAREY WEDDLE American Heritage Bank
GENE PHILLIPS Wallace Engineering
JOE ROBSON The Robson Companies Inc.
JAKE TAYLOR Commerce Bank
LUKE WESTERFIELD Tulsa Property Group LLC
BOB PIELSTICKER CBRE
JOSHUA D. ROBY Grand Bank
GARET D. THOMPSON BOK Financial
KELLY WIECZOREK Larco Properties LLC
ALEXANDER J. POWELL CBRE
HUNT ROSE Stan Johnson Company
MATT THOMPSON Thompson Construction Inc.
DEBRA WIMPEE Oklahoma Chapter, NAIOP
MIKE SCHAUF II Custom Cleaning
BRIEN THORSTENBERG Tulsa Regional Chamber
DAVID LOONEY Legacy Commercial Properties Advisors
RONALD S. LOONEY BLR Properties Inc.
RYAN LYNCH Bank2
GARRETT MAHANEY Paine & Associates LLC
MATTHEW C. MARDIS Paine & Associates LLC
RYAN MCDANIEL Blue Sky Bank
BILL MILLER BancFirst Tulsa
SCOTT MORGAN Coury Properties
41
42
R E TA I L O V E R V I E W
IN FULL SWING Evolution brings opportunity to the 2020 retail market. Daniel Hurwitz, the chairman of the International Council of Shopping Centers, recently said, “Bricks-and-mortar retail has the most significant role in retail and always will, but it needs to adjust. Retail has always been an evolutionary process.” Successful bricks-and-mortar retail businesses are incorporating the best in technology while giving consumers a reason to visit the physical store. Whether it’s the convenience of picking up online orders at your local store, speeding through lines by utilizing self-checkout, or carrying and activating discount coupons from your cell phone, stores of all sizes are leveraging technology to bring more consumers to their doors.
BY GRANT STEWART 43
R E TA I L O V E R V I E W
Tulsa is experiencing these changes first-hand.
dictate the state of the retail market in 2020
Services such as Grub Hub and Uber Eats pro-
and beyond.
vide online ordering and home delivery for restaurants throughout the metro area. Local Target and Reasor’s stores have introduced
ECONOMY
The underlying state of the national economy
Shipt to their customers with an in-store per-
in 2018 and into the first half of 2019 has been
sonal shopper selecting goods for their online
sound. Consumer confidence has surged and
client and delivering those goods to homes in
is nearing an 18-year high. The labor market
the metro area. Restaurants are introducing
remains tight with a 3.7% unemployment rate,
multiple amenities for online customers like
according to the Bureau of Labor Statistics.
reserved parking, curbside pick-ups, pick-up
In summary, more people are working, they are
counters with private entry and racks that hold
making more money and their taxes are lower.
online orders enabling customers to grab and
All of this as the U.S. economic expansion
go. These interactions with online customers
enters its 11th year.
are changing the traffic flow within center parking lots and space configuration needs for retail
Locally, in 2018 the Tulsa metro area experi-
tenants. The evolution of retail is in full swing
enced similar positive trends with an unem-
and we are witnessing it at a faster pace than
ployment rate of 3.6%, increases in wages and
years before. Economic trends, technology
salaries of 2.5% and a per capita income
and consumer shopping habits will continue to
increase estimated to be 11.1%, according to
EXPANDING RETAIL AND RESTAURANTS IN 2018/2019/2020
AutoZone multiple locations across the metro area
Casey’s Owasso, Jenks, Broken Arrow
BJ’s Brew House 71st Street
Club Pilates 9136 S. Sheridan Road, Suite C; 3230 E. 21st St.
Five Below 8802 E. 71st St., 5207 E. 41st St.
44
Black Bear Diner 9026 E. 71st St.
Cycle Bar 9110 S. Yale Ave., Suite B
Pet Supplies Plus 8221 E. 61st St., Suite A
Blue Coast Juicy Seafood 8215 E. 71st St.
Del Taco East 71st Street and South Mingo Road
Pub W 4830 E. 61st St., Suite 100
Burn Boot Camp 500 Riverwalk Terrace, Suite 175, Jenks
Dunkin’ Donuts 1101 N. Aspen Ave., Broken Arrow
Neighborhood Jam 4830 E. 61st St., Suite 300
Plaza in the 71st Street corridor. The former
the 2019 Tulsa Economic Profile. All these fac-
Toys R Us at 6910 S. Memorial Drive is being
tors are positive for the consumer and for the
subdivided to make room for Ollie’s Bargain
retailers. Despite the strong economic cycle,
Outlet and AutoZone. A large part of the retail
significant headwinds caused by trade wars and
evolution focuses on food, entertainment and
recent earning announcements are signifying that the cycle may be coming to an end.
experiences. Tulsa has witnessed these trends
HOW IS THE EVOLUTION IMPACTING
during late 2018 and early 2019 and is anchored
with The Shops at Warren Place, which opened
RETAIL IN OUR BACKYARD?
by three Hal Smith Restaurants: Mahogany, Pub
in 2018 was relatively unchanged from 2017.
hall, Mother Road Market at East 11th Street
W and Neighborhood Jam. Tulsa’s first food
The retail landscape in the Tulsa metro area
and South Lewis Avenue, is another innovative
According to the Q4 Tulsa Marketview Report
approach to adaptive reuse of a large space.
from CBRE, overall occupancies dipped frac-
With more than 20 different local retail and
tionally to just over 94%. Closed Big Box stores
restaurant concepts under one roof, Mother
continue to be backfilled, subdivided or taken
Road Market is capitalizing on the experi-
out of service. With few expanding retailers
ence of dining to serve the multi-generational
with footprints of 20,000 square feet or larger,
demands of consumers.
many of these landlords are being forced to invest to subdivide the spaces or have them sit empty. Some of the tenants backfilling these
WHAT’S ON THE HORIZON FOR
spaces include Five Below, Ollie’s Bargain
NEW DEVELOPMENTS?
The dominant news in Tulsa retail continues
Outlet, various fitness users and non-traditional retail users.
to be the highly anticipated opening of an
Five Below is expanding into existing vacant
cussions about an outlet mall, Simon Property
outlet mall. After more than four years of disGroup acquired a 51-acre site in Jenks where
locations at Southroads Village and Woodland
NET ABSORPTION AND OCCUPANCY Net Absorption (NSF)
Occupancy (%)
1,600
96
1,400 95
1,200 1,000
94
800 93
600) 400
92
200 91
0 (200)
90 2006
2007
2008
2009
2010
2011
Annual Net Absorption
2012
2013
2014
2015
2016
2017
YTD2028
Occupancy
*CBRE Research, Q4 2018
The Tulsa State Fair has over 100 years of history, with an estimated attendance of 1.15 million in 2017.
45
R E TA I L O V E R V I E W
NEW DEVELOPMENTS PLANNED FOR 2019 AND BEYOND PROJECT NAME
LOCATION
SIZE
Tulsa Premium Outlets
Jenks
325,000 square feet
Garrett Creek - Phase II
Owasso
34,000 square feet
Smith Farm Marketplace - Phase III
Owasso
33 acres
Tiger Hill
Broken Arrow
31,000 square feet
1515 Cherry Street
Tulsa
28,000 square feet
NOTABLE TRANSACTIONS OF 2018 AND 2019 PROPERTY NAME
LOCATION
SALES PRICE
SF
PSF
Tulsa Hills
71st to 81st and Highway 75 Tulsa, OK
$70,000,000
336,344
$208.12
Shops of Broken Arrow
Lynn Lane and Highway 51 Broken Arrow, OK
$57,000,000
277,652
$205.29
Perimeter Square
31st and Garnett Tulsa, OK
$7,200,000
58,449
$123.18
Reasor’s Anchored Center
2400 N. Highway 66 Catoosa, OK
$6,400,000
73,213
$87.42
Aspen Park Village
1365 N. Aspen Ave. Broken Arrow, OK
$3,175,000
20,554
$154.47 *COSTAR
they will develop Tulsa Premium Outlets, a
Keep your eye on downtown! With more than
325,000-square-foot center. The outlet mall will
500,000 square feet of new office, residential
contain approximately 80 different stores and
and mixed-use projects planned or under con-
is scheduled to open in summer 2021. Aside
struction, not only will bar and restaurant activ-
from the outlet mall, the local and national mar-
ity continue, but look for local and national retail
kets are seeing very little expansion from larger
and service providers to also arrive.
retailers, other than discount, that would typically anchor a project. Restaurants, local retail, fitness and medical users are driving most of
TRANSACTIONS: LEASING AND SALES
Late 2018 saw several significant sales transac-
today’s activity. The suburbs will see some
tions with many institutional investors reducing
moderate new construction activity with Phase
their exposure in the power center segment.
III of Smith Farm Market (Owasso), Phase II of
InvenTrust Properties sold Tulsa Hills for $70 mil-
Garrett Creek (Owasso) and Tiger Hill (Broken
lion to R/D Investors, a joint venture between
Arrow) coming online. Infill development will
Direct Development and Rockstreet Partners.
continue in the midtown area along Cherry
Both are privately held real estate firms. The
Street, Brookside and outskirts of downtown.
Shops of Broken Arrow sold in November 2018
The BOK/Williams tower, Tulsa’s tallest building, was built by the same architect who built the World Trade Center towers in New York City.
46
Commercial Real Estate Acquisition | Construction Financing Treasury Services | Wealth Management
for $57 million to RamRock Real Estate, a Dallas-based private equity firm. Other notable transactions include the sale of Perimeter Square
Your Business Moves Fast. Can Your Bank Keep Up?
($7.2 million), and Colony on Cherry Street ($4.3 million), which both sold in separate transactions to an investment group sponsored by Precision Equity.
COMMERCIAL SOLUTIONS Solutions at the speed you need from local bankers you can trust.
EXPECTATIONS FOR 2019 AND 2020
Being an election year, 2020 will be impacted by the polit-
Alex Leikam | 918.499.8463 | www.bankofoklahoma.com
ical climate as consumers, retailers, lenders, landlords
Š 2017 Bank of Oklahoma, a division of BOKF, NA. Member FDIC.
and developers brace for the unknown. The market will
continue to focus on more efficient retail opportunities both in size and scope. Construction will be controlled with little speculative development, infill opportunities and mixed-use projects. A continued low interest rate environment should result in an active transactional market for buyers and sellers. One of the biggest looming questions for the Tulsa retail market surrounds Promenade
Mall.
Is
now
the time for Promenade to evolve? Stay tuned. •
Frisbie Lombardi
Trusted Brokerage Innovative Development Experienced Consulting
918.747.7600
www.frisbielombardi.com 47
RETAIL | SEE ZONES PAGE 27
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
REPPE PROPERTY GROUP / BOB REPPE / 918-301-0736 427 S. BOSTON AVE, STE 507 TULSA, OK 74103
36,794 81.9% 1984
1,140 5,514 6,654
$6 $9 $2.95
BA
BIG LOT CENTER / SOUTHERN AGRICULTURE 91ST & ELM NW/C BROKEN ARROW, OK 74012
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN TULSA, OK 74133
42,000 100.0% 1992
0 0 0
$8 $10 $1.32
BA
BROKEN ARROW PLAZA RETAIL CENTER 6405-6450 S ELM PL BROKEN ARROW, OK 74012
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
38,506 91.2% 2008
1,200 3,400 3,400
$18 $18 $0
BA
BROKEN ARROW TOWNE CENTRE 101ST & ELM BROKEN ARROW, OK 74012
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN TULSA, OK 74133
92,453 61.7% 1985
1,050 9,693 35,376
$11 $8 $2.21
BA
CENTENNIAL PLAZA 1901 S. YALE AVE. TULSA, OK 74112
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
186,196 1.9% 1998
2,600 18,000 182,600
BA
COUNTY LINE SHOPPING CENTER 1005-1205 E KENOSHA BROKEN ARROW, OK 74012
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
64,828 96.8% 1979
2,081 2,081 2,081
$10 $10 $1.35
BA
KENOSHA COMMERCIAL CENTER 4601 W KENOSHA ST BROKEN ARROW, OK 74012
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
25,831 71.0% 2006
1,200 2,943 7,488
$16 $17.50 $4.99
BA
KENOSHA CROSSING 1208 E. KENOSHA BROKEN ARROW, OK 74012
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
20,000 100.0% 1998
0 0 0
$15
LAURENWOOD SQUARE 1091 S ASPEN AVE BROKEN ARROW, OK 74012
SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135
46,893 83.8% 1985
2,728 7,586
BA
MANCHESTER SQUARE PROFESSIONAL BUILDING 1757 N. ASPEN, BROKEN ARROW, OK 74012
SAMSON COMMERCIAL REAL ESTATE SERVICES / MIKE LESTER / 918-284-0700 1645 S. 101ST. E. AVE., STE. 101, TULSA, OK 74128
20,419 100.0% 2008
0 0 0
$20 $20
BA
OAKWOOD PLAZA 81ST & 145TH E AVE, S/E C BROKEN ARROW, OK 74012
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
108,076 83.5% 1976/2000
850 17,000 17,850
$7 $7 $2.32
BA
PLAZA DEL SOL
BA
$1.54 $9 $8 $1.52
• Tulsa’s Premier “Entertainment/Experience” Neighborhood Center • Superior and convenient access 1 mile east of Memorial Drive • Casual offerings in an upscale setting • Beautiful mission-style architecture • Featuring a gorgeous water fountain in the expansive Plaza
9999 S Mingo Rd
Contact: Jason M. Kennon Case & Associates Properties, Inc. 918-492-1983 BA
PLAZA DEL SOL 9999 S MINGO RD TULSA, OK 74133
CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135
46,500 90.8% 2008
1,600 1,600 4,300
$16 $16 $4.50
BA
QUAIL RUN SHOPPING CENTER 81ST & 145TH E AVE, NW CORNER BROKEN ARROW, OK 74012
SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135
49,734 93.3% 1981
130 3,300 3,330
$9 $9 $0.96
BA
REDBUD CORNERS 2419 W KENOSHA BROKEN ARROW, OK 74012
CBRE, INC. / MARK ROONEY / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
21,250 100% 2003
0 0 0
$16
BA
SHOPS AT LYNN LANE 1700 N 9TH ST BROKEN ARROW, OK 74012
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
24,630 90.3% 2008
2,400 2,400 2,400
$20 $20 $1.50
BA
THE SHOPPES AT STONE RIDGE E ALBANY (61ST) & 161ST E AVE BROKEN ARROW, OK 74012
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
48,300 0% 2010
1,400 10,000 48,300
$14 $24 $3
BA
TIGER PLAZA 2055-2500 E KENOSHA ST BROKEN ARROW, OK 74014
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
48,827 62.1% 2007
1,500 10,000 18,500
$16 $12 $2.50
BA
TOWNE CENTER PHASE I* 101ST & ELM PL BROKEN ARROW, OK 74011
PRECISION EQUITY / ALICIA NOLEN 5100 E. SKELLY SR, STE. 960 TULSA, OK 74135
28,450 85.1% 1984
702 2,562 4,239
$8.50 $8.50 $3.84
BA
TURTLE CREEK 81ST & 145TH E AVE BROKEN ARROW, OK 74012
SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135
35,720 96.5% 1985
100 1,248 1,248
$8.50 $8 $1.47
NOTE EXPANDED LISTING
48
PROJECT NAME ADDRESS CITY / STATE / ZIP
MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (GLA) % LEASED YEAR BUILT
SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE
RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE
BA
VANDEVER ACRES* 732 W NEW ORLEANS ST BROKEN ARROW, OK 74011
GBR PROPERTIES, INC. / ANGELA POSTON / 918-493-2525 3114 E. 81ST STREET TULSA, OK 74137
79,542 80.3% 1984
1,173 6,521 15,699
$12 $12 $2.89
BA
VANDEVER EAST II SHOPPING CENTER 3321 S ELM PL BROKEN ARROW, OK 74012
CBRE, INC. / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
38,521 91.4% 1978/1992
1,500 1,748 3,298
$5
BA
WASHINGTON SQUARE S. 161ST & E. 91 BROKEN ARROW, OK 74012
DLRE, INC. / DANNY OVERTON / (918) 895-6700 3015 E. SKELLY DR., STE.410 TULSA, OK 74105
36,250 100.0% 1982
2,000 4,250
$8
BA
2301 NORTH ASPEN 2301 N ASPEN BROKEN ARROW, OK 74012
CBRE, INC. / TONY AARONSON / (918) 665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
90,469 84.5%
14,000 14,000 14,000
$6
ONE PLACE RETAIL BUILDING 201 S. DENVER AVE TULSA, OK 74103
ONE PROPERTY MANAGEMENT / DAVID ATKINSON / 918-574-8776 201 S. DENVER AVE, BOX 1, TULSA, OK 74103
16,733 72.7% 2012
3,011 4,562
$20 $20 $5.46
$0.55
CBD CBD
CENTRAL CENTRAL
1700 YALE MALL 1649 SOUTH YALE AVE TULSA, OK 74112
W/S COMMERCIAL / LINDSEY WARREN / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
77,254 87.5% 1972/2014
1,486 3,145 9,624
$25 $20 $3.50
CENTRAL
401 SOUTH UTICA 401 S UTICA TULSA , OK 74104
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
24,730 66.0% 1975
8,400 8,400 8,400
$6 $6 $1.20
CENTRAL
BROOKE PLAZA 2601-2625 S MEMORIAL TULSA, OK 74145
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
39,000 94.9% 1964
2,000 2,000 2,000
$7 $7 $0.50
CENTRAL
EASTGATE SHOPPING CENTER 7820 E ADMIRAL PL TULSA, OK 74112
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
84,252 48.5% 1954/82
2,200 34,000 43,400
$4 $7.50 $1.12
CENTRAL
LEISURE SQUARE 2140-D S MEMORIAL TULSA, OK 74129
BUCK MEYERS INV. / BUCK MEYERS / 918-663-2224 2140-D S. MEMORIAL TULSA, OK 74129
72,200 90.3%
7,000 7,000 7,000
$6 $6 $0.25
CENTRAL
LEISURE SQUARE 1515-1717 S. SHERIDAN TULSA, OK 74112
DLRE, INC. / DEAN LEWIS / 918-895-6700 3015 E. SKELLY DR., STE.410 TULSA, OK 74105
53,505 100.0% 1975
0 0
$7.16
CENTRAL
MAYO MEADOW SHOPPING CENTER PAD SITES 21ST & YALE SWC TULSA , OK 74112
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
80,737 36.7%
51,089 51,089 51,089
$15 $15
CENTRAL
SHERIDAN ROYAL CENTER 6380 & 6390 E 31ST TULSA, OK 74135
PROPERTY SPECIALISTS, INC. / CHARLIE NORTHCOTT / 918-665-0803 6305 E. 32ND ST., TULSA, OK 74135
28,125 94.7% 1969
720 800 1,500
$6.50 $8 $0
CENTRAL
TRI CENTER SHOPPING CENTER 2717-2757 S MEMORIAL TULSA, OK 74129
AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A BROKEN ARROW, OK 74012
101,000 100.0% 1974/86
12,000 12,000 0
$6 $8 $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 94.6% 1985
1,500 1,500 1,500
$8 $12
$0.50
NOTE EXPANDED LISTING
49
RETAIL | SEE ZONES PAGE 27
PROJECT NAME ADDRESS CITY / STATE / ZIP
MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (GLA) % LEASED YEAR BUILT
SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE
RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE
EAST
BRIARGLEN SQUARE SHOPPING CENTER 31ST & 129TH, S/E C TULSA, OK 74134
PRECISION EQUITY / ALICIA NOLEN 5100 E. SKELLY SR, STE. 960 TULSA, OK 74135
32,361 92.2% 1984
2,523 2,523 2,523
$7 $7 $3.10
EAST
EASTERN VILLAGE 21ST & 125TH E AVE TULSA, OK 74129
WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137
32,502 55.7% 1980
6,000 8,400 14,400
$7 $7 $0.65
EAST
GARNETT CROSSING 11101-11215 E 31ST TULSA, OK 74146
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
57,755 55.3% 1975/2006
1,113 12,000 25,791
EAST
GARNETT PLAZA 11333 E 21ST ST TULSA, OK 74129
WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137
29,710 84.3% 1983
1,200 2,205 4,678
$12 $12
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 97.5% 1995
1,000 1,000 1,000
$9.50
EAST
NORTHEAST PLAZA SHOPPING CENTER 1116-1148 S GARNETT ST TULSA, OK 74128
BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
79,900 90.0% 1973
8,000 8,000 8,000
$8 $8 $0
EAST
SCISSORTAIL SQUARE 12737 E 41ST ST TULSA, OK 74146
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
46,077 36.3% 1983
1,147 8,138 29,341
EAST
TOWNEAST ADMIRAL & 193RD E AVE, S/E C CATOOSA, OK 74133
BUCK MEYERS INV. / BUCK MEYERS / 918-663-2224 2140-D S. MEMORIAL TULSA, OK 74129
57,605 100.0% 1985
0 0 0
$9 $4.50 $0.40
16,000 16,000 16,000
$6 $8
EAST
MIDTOWN MIDTOWN
48TH STREET 8136 E. 48TH ST. TULSA, OK 74145
AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A, BROKEN ARROW, OK 74012
32,000 50.0%
MIDTOWN
7202 E. 41ST ST. 7202 E. 41ST ST. TULSA, OK 74145
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
23,724 92.4% 1974
1,800
MIDTOWN
8200 TRADE CENTER 8210-8290 E 41ST ST TULSA, OK 74145
BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
92,950 46.6% 1974
1,440 11,760 49,630
$5 $7
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
14,674 100.0%
0 0 0
$18 $18 $3.50
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 80.3%
2,600 5,000 7,600
$8 $6
MIDTOWN
HARVARD SHOPS 3215 S. HARVARD AVE. TULSA, OK 74135
PRECISION EQUITY / ALICIA NOLEN 5100 E. SKELLY SR, STE. 960 TULSA, OK 74135
20,587 90.3% 1955
731 1,269 2,000
$10 $10 $0.27
MIDTOWN
HARVARD VILLAGE 2600 S HARVARD TULSA, OK 74114
ADWON REALTY INC. / JOE ADWON / 918-749-7966 P.O. BOX 701116 TULSA, OK 74170
45,444 59.0% 1955
0 0 18,644
$12
MIDTOWN
HIGHLAND PLAZA 5505-5667 E 41ST ST TULSA, OK 74135
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
100,623 68.3% 1963/2007/2019
1,000 4,160 31,900
$10 $10 $1.69
MIDTOWN
LINCOLN PLAZA ON CHERRY STREET 1304 E 15TH ST TULSA, OK 74120
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
40,108 100.0% 1910/93
0 0 0
$18 $18 $6.23
MIDTOWN
MAXIM BUSINESS PARK 4305 S MINGO RD TULSA, OK 74146
BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
107,387 84.6% 1984
1,599 2,700 16,518
$7 $7
MIDTOWN
MEMORIAL PARK SHOPPING CENTER 51ST & MEMORIAL, N/E C TULSA, OK 74145
PEYDAY REALTY, LLC / JONATHAN PEYRAVY / 918-850-8050 4855 S. MEMORIAL DR, TULSA, OK 74145
38,964 58.6% 1971
1,800 5,000 16,140
$10 $7 $2.76
MIDTOWN
OLDE VILLAGE CENTER & SHOPPES 1320 E 41ST ST TULSA, OK 74105
COMPROP REALTY, INC. / LINDA SCHAFER / 918-742-2174 5416 S. YALE TULSA, OK 74135
63,275 95.3% 1953
1,410 1,552 2,962
$16.50 $16.50 $0.65
MIDTOWN
PARK LANE SHOPPING CENTER 51ST & SHERIDAN, N/W C TULSA, OK 74135
BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
148,951 93.6% 1967
3,400 6,123 9,523
$9 $5 $0
$12
$2.85
NOTE EXPANDED LISTING
50
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
SHERIDAN COMMERCIAL CENTER 4307-4319 S SHERIDAN RD TULSA, OK 74145
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
21,990 100.0% 1973
0 0 0
$12 $12
MIDTOWN
SOUTHROADS 4945 E 41ST ST TULSA, OK 74135
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
305,373 58.8% 1967/97
2,452 59,451 125,753
MIDTOWN
SUNBELT PLAZA 4343 S MEMORIAL 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
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
31,900 96.9% 1975
1,000 1,000
$12 $12 $2.50
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
MIDTOWN
NORTH NORTH
NORTH POINTE BUSINESS CENTER 205 E. PINE TULSA, OK 74106
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
36,794 66.3% 1995
1,300 5,263 12,396
$10 $10 $5.85
NORTH
SPRINGDALE SHOPPING CENTER PINE & LEWIS TULSA, OK 74110
SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135
93,792 100.0% 1972
0 0 0
$10.25 $7 $1.39
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
64,878 85.2% 1953
0 0 9,600
$6.50
NORTHEAST NE
4959 S. PEORIA 4959 S. PEORIA TULSA, OK 74015
NE
CHEROKEE SPRINGS PLAZA
• Anchored by new Cherokee Casino & Convention Center Tahlequah • 1,800 to 7,200 SF available • Extensive landscaping and streetscaping • Newk’s Eatery opening on north end of retail center • Shell spaces can be custom finished • Prime location near Cherokee Springs Golf Club
3377 Cherokee Springs Rd
Contact: Brian Hunt, Cherokee Nation Property Management, 918.439.6546 NE
NE
CHEROKEE SPRINGS PLAZA 3377 CHEROKEE SPRINGS RD TAHLEQUAH, OK 74464
CHEROKEE NATION BUSINESSES / BRIAN HUNT / 918-439-6546 777 W. CHEROKEE ST, CATOOSA, OK 74015
21,600 0.0% 2018
1,400 7,200 21,600
$20
ROLLING HILLS SHOPPING CENTER 19220 E ADMIRAL CATOOSA, OK 74015
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
40,000 81.9%
7,249 7,249 7,249
$8 $12 $1.16
$2.25
NORTHWEST NW
GILCREASE HILLS CENTER 2301-2323 W EDISON TULSA, OK 74127
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
46,129 69.9% 1980
1,040 3,300 13,897
$2.83
NW
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 70.2% 1957/1986
1,500 25,000 30,530
$12 $12 $1.98
OWASSO OWASSO
ATOR CENTER 9100 N. GARNETT OWASSO, OK 74055
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
34,850 100.0% 1991
0 0 0
$16 $14 $0
OWASSO
FAIRWAY MARKET I/II 9540 N. GARNETT OWASSO, OK 74055
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
30,535 88.5% 2006/2015
0 0 3,500
$18 $18 $4
NOTE EXPANDED LISTING
51
RETAIL | SEE ZONES PAGE 27
PROJECT NAME ADDRESS CITY / STATE / ZIP
MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (GLA) % LEASED YEAR BUILT
SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE
RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE
OWASSO
GARRETT CREEK 11560 N 135TH E AVE OWASSO, OK 74055
WIGGIN PROPERTIES, LLC / GRANT STEWART / 918-935-2010 5100 E. SKELLY DR, STE 110, TULSA, OK 74103-74135
104,216 96.1% 2007
1,675 2,435 4,110
$10 $16
OWASSO
MINGO VALLEY CENTER 8787 OWASSO EXPRESSWAY OWASSO, OK 74055
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
107,187 86.2% 1988/2004
1,620 9,152 14,772
$11.50 $8 $1.65
OWASSO
MINGO VALLEY SHOPPING CENTER 8751 N 117TH E AVE OWASSO, OK 74055
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
31,025 52.4% 1999
1,740 7,156 14,756
$11.50 $8 $2.25
OWASSO
OWASSO LAND BUILDING I/II 12140 / 12150 E. 96TH ST. N. OWASSO, OK 74055
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
44,396 100.0% 2002
0 0 0
$0 $18 $4
OWASSO
OWASSO MARKETPLACE 12105-12401 E. 96TH OWASSO, OK 74055
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
560,140 99.2% 2002
2,000 2,500 4,500
OWASSO
OWASSO TOWN CENTER 12912 E 86 ST N OWASSO, OK 74055
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
30,000 92.0% 1980
2,400 2,400 2,400
$17 $17 $1.50
OWASSO
OWASSO TOWN CENTER 8500 N. 129TH ST. OWASSO, OK 74055
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
22,894 89.5% 1999
2,400 2,400 2,400
$15 $15 $1.52
OWASSO
SMITH FARM MARKETPLACE 9002 N 121ST AVE OWASSO, OK 74055
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
356,677 93.1% 2005
1,311 7,000 24,520
OWASSO
THE MARKET SHOPPING CENTER 12932 E 86TH ST N OWASSO, OK 74055
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
30,000 92.0% 2005
2,400 2,400 2,400
$10 $10 $3
OWASSO
THREE LAKES CENTER 11610-11650 E. 86TH ST. N. OWASSO, OK 74055
BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
48,130 92.5% 1980
1,200 3,600 3,600
$12 $12 $0
OWASSO
WATERFORD PLAZA 9500 / 9530 N. 129TH E. AVE. OWASSO, OK 74055
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
49,506 92.7% 2004
1,646 3,006 3,625
$20 $20 $4.30
1,100 2,200 4,565
$9.50 $10.50
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 79.0% 1985
SOUTH
4157 S. HARVARD 4157 S. HARVARD TULSA, OK 74135
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
25,000 96.6% 1980
850
SOUTH
5130 S HARVARD AVE 5130 S HARVARD AVE TULSA, OK 74135
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
51,150 1.5% 1985
25,000 50,400 50,400
$8 $8 $2.50
SOUTH
5400 MINGO CENTER 5400 S MINGO TULSA, OK 74146
PROPERTY SPECIALISTS, INC. / CHARLIE NORTHCOTT / 918-665-0803 6305 E. 32ND ST., TULSA, OK 74135
49,000 96.6% 1979
1,250 1,400 1,650
$6.50 $8 $0
SOUTH
7181 MINGO CENTER 7181 S MINGO TULSA, OK 74133
EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
37,000 100.0% 1998
0 0 0
$12 $8 $1
SOUTH
8909 S. YALE 8909 S. YALE TULSA, OK 74137
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
20,000 0.0% 2009
20,000
SOUTH
8922 S. MEMORIAL 8922 S. MEMORIAL DRIVE TULSA, OK 74133
NAI RUPE HELMER, LLC / DAVID HARTNACK / 918-745-1133 6846 S. CANTON AVE, SUITE 250 TULSA, OK 74136
51,000 85.4% 1972
7,431 7,431 7,431
$11 $11 $4.13
SOUTH
CENTRE 71 71ST & MEMORIAL SE/C TULSA, OK 74133
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
50,160 80.7% 1993
600 3,960 9,660
$10 $10 $3.73
SOUTH
CHIMNEY POINTE 91ST & SHERIDAN TULSA, OK 74133
SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135
43,930 94.4% 1984
2,442 2,442 2,442
$11.50 $8 $1.80
SOUTH
COMMERCE PLAZA 55TH & MINGO TULSA, OK 74146
MUDD FAMILY PROPERTIES / VERNON MUDD / 918-749-6411 P.O. BOX 701137 TULSA, OK 74170
20,000 100.0% 1983
0 0 0
$6 $6 $0
SOUTH
COPPER MOUNTAIN 6002-6028 S MEMORIAL TULSA, OK 74145
PARAMOUNT COMMERCIAL PROP. / ALAN HARJU / 918-743-8000 6202 S. LEWIS, SUITE E, TULSA, OK 74136
25,443 89.8% 1980/2007
2,767 3,280 2,599
$8.50 $18.50 $2.62
$21
$21
NOTE EXPANDED LISTING
52
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
COUNTRY CLUB PLAZA 51ST & S HARVARD TULSA, OK 74135
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
203,057 71.7% 1965/84
1,792 14,000 57,423
$18 $10 $2.50
SOUTH
CROSSING OAKS 7110 S MEMORIAL DRIVE TULSA, OK 74133
PAINE & ASSOCIATES / MATT MARDIS / 918-481-5380 5810 E. SKELLY DR, STE. 1900 TULSA , OK 74135
266,682 96.8% 1979/2018
1,200 4,798 8,498
$30 $33
SOUTH
EASTSIDE MARKET 11011 E. 71ST ST. TULSA, OK 74133
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
187,928 85.7% 2000
1,932 17,432 26,932
SOUTH
ECHELON CENTER 8112 S MEMORIAL DR TULSA, OK 74133
BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
55,469 79.2% 1984
1,046 0 11,599
$12.50
SOUTH
ETON SQUARE 8221-8421 E 61ST ST TULSA, OK 74133
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
208,496 95.1% 1984
10,151 10,151 10,151
$14 $8 $2.37
SOUTH
FESTIVAL SQUARE 6501-6555 S SHERIDAN RD TULSA, OK 74133
CBRE, INC. / MARK ROONEY / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
58,566 85.1% 1976
8,700 8,700 8,700
$10
SOUTH
FOREST TRAILS SOUTH 10032 S SHERIDAN TULSA, OK 74133
SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135
32,611 94.5% 1983
1,793 1,793 1,793
$12 $10 $1.15
SOUTH
GARNETT PLAZA 71ST & GARNETT, SW/C TULSA, OK 74133
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
100,786 100.0% 1996
0 0 0
$16 $16 $5.14
SOUTH
HEATHERRIDGE 6518-6556 E 91ST ST TULSA, OK 74133
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
34,193 91.8% 1981
1,400 1,400 2,800
$16
KENSINGTON ANNEX 71ST & LEWIS TULSA, OK 74136
RUFFIN PROPERTIES / CARL VINCENT / 918-493-7100 7130 S. LEWIS, SUITE 250 TULSA, OK 74136
51,068 72.6% 1979
1,800 12,217 14,017
$10
SOUTH
KINGS LANDING 99TH & S RIVERSIDE PKWY TULSA, OK 74137
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
43,746 68.9% 2005
1,920 9,371 13,611
$22 $24 $2.30
SOUTH
KINGS POINTE VILLAGE 5952 S YALE TULSA, OK 74135
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
117,000 78.4% 2003
1,080 20,256 25,218
$20 $20 $1.48
SOUTH
LEWIS CROSSING 6921-6981 S LEWIS AVE TULSA, OK 74136
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
49,324 44.6% 1977/98
1,354 4,865 27,308
$8 $12 $2.57
SOUTH
LIGHTHOUSE SHOPPING CENTER 7143 S YALE TULSA, OK 74136
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
38,045 85.9% 1988/2008
1,904 3,458 5,362
$16 $22 $2.88
SOUTH
LONDON SOUTH 5940 S LEWIS TULSA, OK 74105
COMPROP REALTY, INC. / LINDA SCHAFER / 918-742-2174 5416 S. YALE TULSA, OK 74135
35,400 87.9% 1972
4,300 4,300 4,300
$14 $14 $0.65
SOUTH
MANCHESTER SQUARE 8338 E 61ST ST TULSA, OK 74133
DIXON R.E. CO., INC. / SONDRA HIGHFILL / 918-748-0308 4870 S. LEWIS, SUITE 100 TULSA, OK 74105
141,601 88.9% 1995
140 5,383 15,765
$10 $11 $2.66
SOUTH
MEADOWBROOK CHASE 7900 S. MINGO TULSA, OK 74133
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
22,230 89.2% 2014
2,400 2,400 2,400
$24
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 59.6%
1,300 4,300 5,900
$12 $12 $4
SOUTH
MINGO CENTER 5151 S MINGO RD TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
17,200 66.0% 2007
38,746 3,000 5,846
$6.75
SOUTH
MINGO MARKETPLACE 10123-10303 E 71ST ST TULSA, OK 74133
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
219,277 73.3% 1992
58,500 58,500
PRICE IS NEGOTIABLE
SOUTH
PALAZZO 8222 E. 103RD ST. S. TULSA , OK 74133
NAI RUPE HELMER, LLC / SUSAN DAVIS / 918-745-1133 6846 S. CANTON AVE,, SUITE 250 TULSA, OK 74136
59,100 94.9% 2006
1,500 3,000 3,000
$15 $18 $1.21
SOUTH
PARK PLAZA SHOPPING CENTER 6010 S SHERIDAN RD TULSA, OK 74135
REPPE PROPERTY GROUP / BOB REPPE / 918-301-0736 427 S. BOSTON AVE, STE 507 TULSA, OK 74103
126,549 71.1% 1971
1,018 23,979 36,553
$8 $10 $1.85
SOUTH
RENAISSANCE ON MEMORIAL 8281 S MEMORIAL DR TULSA, OK 74133
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
26,120 85.9% 2003
1,610 1,940 3,690
$22 $3.50
RIVER PARK SQUARE 6821 S PEORIA AVE TULSA, OK 74136
DLRE, INC. / DANNY OVERTON / (918) 895-6700 3015 E. SKELLY DR., STE.410 TULSA, OK 74105
46,138 81.4% 1984
1,875 4,625 8,600
$6 $6 $1.38
SOUTH
SOUTH
$2.34
$2.43
$1.50
$2.38
NOTE EXPANDED LISTING
53
RETAIL | SEE ZONES PAGE 27
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
RIVERSIDE MARKET 9521-9675 RIVERSIDE PKWY TULSA, OK 74137
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
164,177 95.2% 2004
1,800 3,400 7,800
SOUTH
SOUTH LEWIS PLAZA 7030 S LEWIS TULSA, OK 74136
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
37,500 87.6% 1984
830 2,395 4,664
$9 $9 $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 85.8% 2006
2,000 2,840 6,840
$12 $16 $1.20
SOUTH
SOUTH TOWN MARKET DR 10000 S. MEMORIAL TULSA, OK 74133
BUMGARNER ASSET MGMT / CHRIS BUMGARNER / 918-587-1900 401 S. BOSTON , STE 3400, TULSA, OK 74103
32,000 100.0% 2009
1,500 3,000
$40
SOUTH
SQUARE 91 8921-8929 S MEMORIAL TULSA, OK 74133
196,842 96.2% 1991
7,431 7,431 7,431
$6 $12 $1.86
SOUTH
SQUARE ONE SHOPPING CENTER 81ST & SHERIDAN, N/E C TULSA, OK 74133
GBR PROPERTIES, INC. / ANGELA POSTON / 918-493-2525 3114 E. 81ST STREET TULSA, OK 74137
46,197 -363.6% 1983
1,784 3,960 214,158
$11 $10 $3.39
SOUTH
SQUARE ONE-OFFICE CENTER 6705 E 81ST ST TULSA, OK 74133
BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
28,908 100.0% 1985
975 1,914
$12 $12 $0.00
SOUTH
SUMMIT SQUARE 71ST & SHERIDAN, S/W C TULSA, OK 74136
GBR PROPERTIES, INC. / ANGELA POSTON / 918-493-2525 3114 E. 81ST STREET TULSA, OK 74137
166,552 90.9% 1987
770 4,111 15,127
$16 $14.50 $2.84
SOUTH
THE MILL SHOPPING CENTER 6973 E 71ST ST TULSA, OK 74133
P&H PROPERTIES LLC / BRANDON MOLL / 918-523-4000 4785 E. 91ST, SUITE 200 TULSA, OK 74137
30,870 89.3% 1980
1,516 1,794 3,310
$10 $12 $2.20
SOUTH
THE SHOPS & OFFICES AT BRIDGEPOINTE 1660 E 71ST ST TULSA, OK 74136
RUFFIN PROPERTIES / CARL VINCENT / 918-493-7100 7130 S. LEWIS, SUITE 250 TULSA, OK 74136
55,000 83.1% 1992
1,600 5,212 9,315
$9 $12 $1.85
SOUTH
THE VILLAGE AT WOODLAND HILLS 6612-6808 S MEMORIAL TULSA, OK 74133
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
224,487 72.8% 1987
1,144 25,016 61,158
$12
SOUTH
THE VINEYARD ON MEMORIAL 7890 E. 106TH PL. SO TULSA, OK 74133
PAINE & ASSOCIATES / MATT MARDIS / 918-481-5380 5810 E. SKELLY DR, STE. 1900 TULSA , OK 74135
23,625 41.7% 2012
1,453 6,881 13,762
$24
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 $0.70
SOUTH
TULSA RETAIL CENTER 9121-9219 E 71ST ST TULSA, OK 74133
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
92,848 74.0%
24,178 24,178 24,178
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 80.2% 2013
2,000 4,000 6,347
$20 $20 $1.75
SOUTH
UNION PLAZA 9717-10021 E. 71ST ST TULSA, OK 74136
CBRE, INC. / BEN GANZKOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
196,752 61.9% 1994
37,500 75,000 75,000
$8 $12
SOUTH
UNION SQUARE 6105 S MINGO RD TULSA, OK 74133
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
30,220 48.3% 1985
906 4,828 15,632
$10 $11 $1.60
SOUTH
UTICA 71 CENTER 7018 S. UTICA TULSA, OK 74136
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
25,309 82.2% 1995
1,500 3,000 4,500
$8 $12
SOUTH
VILLAGE SOUTH 10100 S SHERIDAN RD TULSA, OK 74133
MID AMERICA REALTY, INC / GEORGE O’CONNOR / 918-299-0100 10125 C. S. SHERIDAN, TULSA, OK 74133
104,000 97.7% 1983
2,437 2,437 2,437
$14 $14 $3.49
SOUTH
WATERFORD PLAZA 9108 S. SHERIDAN TULSA, OK 74133
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
28,883 89.6% 2007
3,006 3,006 3,006
$20 $20
SOUTH
WEMBLEY CENTER 7106-7116 S MINGO TULSA OK 74133
SOUTH STAR PM / CAMERON SMITH / 503-251-4888
51,343 77.6%
1,200 4,296 11,478
$12 $19 $2.20
SOUTH
WOODLAND PLAZA 8620-8802 E 71ST ST TULSA, OK 74133
CBRE, INC. / DAN SHOEVLIN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
42,525 67.4% 1994
2,612 7,401 13,878
$11 $22
NOTE EXPANDED LISTING
54
PROJECT NAME ADDRESS CITY / STATE / ZIP
MANAGING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (GLA) % LEASED YEAR BUILT
SMALLEST AVAILABLE LARGEST AVAILABLE TOTAL AVAILABLE
RENTAL (SMALL SPACE) RENTAL (LARGE SPACE) CAM CHARGE
SOUTHWEST SW
MAIN PLACE 6TH & SO MAIN SAPULPA , OK 74066
SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135
42,000 82.1% 1976
7,500 7,500 7,500
$8 $5 $0.88
SW
RIVERWALK CROSSING 300 RIVERWALK TERRACE JENKS, OK 74037
PAINE & ASSOCIATES / MATT MARDIS / 918-481-5380 5810 E. SKELLY DR, STE. 1900 TULSA, OK 74135
27,805 65.4% 2004
440 3,037 9,619
$16
SW
SOUTHWEST CROSSROADS SWC 121ST & HWY 75 GLENPOOL, OK 74033
32,431 40.2% 2009
1,250 16,000 19,400
$22 $22
SW
SPARTAN FAMILY CENTER* 151ST & MEMORIAL RD, N/W C BIXBY, OK 74008
SANDMAN PROP SERVICES / BRAD SANDITEN / 918-742-3315 3314 E. 51ST ST, SUITE 200A TULSA, OK 74135
62,410 100.0% 1985
SW
THE WALK AT TULSA HILLS 8310 S. OLYMPIA TULSA, OK 74132
PAINE & ASSOCIATES / MATT MARDIS / 918-481-5380 5810 E. SKELLY DR, STE. 1900 TULSA, OK 74135
45,600 100.0% 2015
3,200
$30
SW
TULSA HILLS SHOPPING CENTER 7336 S OLYMPIA AVE TULSA, OK 74132
W/S COMMERCIAL / CAITLIN SHORES / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
1,200,000 98.9% 2007
1,200 8,962 13,162
$30 $30
SW
VILLAGE ON MAIN 117 S 7TH ST JENKS, OK 74037
W/S COMMERCIAL / LINDSEY WARREN / 918-688-4040 3509 S. PEORIA AVE., STE 500 TULSA, OK 74105
44,193 34.8% 2012
2,074 3,916 28,824
$9 $12
WEST
CRYSTAL CITY SHOPPING CENTER 4207-4289 SOUTHWEST BLVD TULSA, OK 74131
COLDWELL BANKER SELECT / DAVID ROBERTS
110,000 52.0% 1954
1,250 35,586 52,746
$5.75
WEST
FORMER K-MART 1200 E. CHARLES PAGE BLVD SAND SPRINGS, OK 74063
EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
84,210 0.0% 1974
84,210 84,210 84,210
$3.50 $3.50
WEST
PAGE PLAZA 1124 E. CHARLES PAGE BLVD SAND SPRINGS, OK 74063
WALMAN COMMERCIAL / STEVE WALMAN / 918-481-8888 7060 S. YALE, SUITE 900 TULSA, OK 74136
34,900 24.1% 1974
26,500 26,500 26,500
$5 $10 $1.57
WEST
SPRINGS VILLAGE 3909-3989 S HIGHWAY 97 SAND SPRINGS, OK 74063
CBRE, INC. / TONY AARONSON / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
168,000 97.9% 1986
3,520 3,520 3,520
$8.75 $8.75
WEST
TOWN WEST SHOPPING CENTER 5600 W SKELLY DR TULSA, OK 74107
BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
162,726 75.0% 1979
500 29,294 40,692
$10 $4.75 $0.50
$9.50 $9.50 $1.23
WEST $0.69
NOTE EXPANDED LISTING
55
PA C E
A program for clean energy and economic development The County Commissioners of Tulsa County
Commissioners passed a comprehensive reso-
believe it’s important to find opportunities that
lution that spells out the public policy purposes,
blend together economic development and
as well as the parameters of the program. This
energy conservation. Expanding the job oppor-
is commonly known as Commercial Property
tunities in the renewable energy sectors and
Assessed Clean Energy, or C-PACE.
helping commercial property owners lower their energy costs with redevelopment or retrofit
PACE programs have been around for about
projects can be a winning combination for the
10 years and now exist in over 30 states. Close
entire county and state.
to Oklahoma, PACE programs exist in Texas, Missouri, Arkansas, Colorado and New Mexico.
56
To bring this opportunity to the citizens of
Under a voluntary PACE program, counties can
Oklahoma, Tulsa County was successful in get-
form special assessment districts to help prop-
ting SB 1000 passed by the Legislature by a
erty owners finance energy retrofits by allowing
vote of 134-6. The Governor signed the bill on
commercial property owners to place an addi-
May 13, 2019. On Sept. 9, the Board of County
tional assessment on their property through
private PACE financing. No public dollars or
bigger ones are Clean Fund Commercial Pace
taxpayer funds are used.
Capital Inc., PACE Sage Capital, Petros PACE Finance, Greenworks Lending, Twain Lending
Implementing a PACE program can address
and Pace Equity. Each of these private lenders
two major roadblocks to clean energy growth
has already reached out to Tulsa County with
at the commercial level: lack of available capital
their interest in coming to the Tulsa commer-
and hesitancy to make long-term energy effi-
cial property market. Each have websites with
ciency/renewable energy investments for fear
details on their lending programs.
that the indebtedness cannot be recouped. Improvements to commercial buildings can Financing in a PACE program has many ben-
include heating/ventilating, lighting, pumps and
efits not available through a typical lending
motors, insulation, wind reinforcement, solar,
arrangement. First, there is no requirement for
geo-thermal and resiliency improvements.
any upfront funding by the property owner or a written guarantee. Funding up to 100% of the
Since the effective date of SB 1000 isn’t until
hard and soft project costs can be financed.
Nov. 1, Tulsa County is now working on devel-
Second, the lien on the property transfers with
oping the design and implementation com-
the property upon sale. Third, the commercial
ponents of the PACE program and securing
property owner will have the annual installment
national PACE experts to provide consultation
included on the annual property tax statement
services. There is also consideration of using
sent out by the County Treasurer. Fourth, typi-
INCOG as the sponsoring agency to provide
cal terms allow the property owner at least 15
the information, marketing, website and out-
to 20 years to repay the loan and the energy
reach throughout the county.
savings from the improvements to the property often equal or exceed the amount of the annual
There is great interest from the Oklahoma
payment. Sixth, the amount of financing avail-
Departments of Commerce and Energy with
able to the property owner is based upon the
hopes that what is created in Tulsa County can
value of the property, not the FICO scores of
be a template for other counties in Oklahoma
the property owner.
to adopt PACE programs.
Currently there are many registered capital pro-
To learn more about PACE, visit the website
viders which fund C-PACE projects. Some of the
for PACE Nation (pacenation.org), the national resource center for all things PACE. •
57
2018 DEALS OF THE YEAR
2018 Deals of the Year MULTIFAMILY SALE Overall NAIOP Deal of the Year Winner The Vintage on Yale Brandon Lamb, Newmark Knight Frank Tim McKay, Newmark Knight Frank Justin Wilson, Newmark Knight Frank
RETAIL LEASE Bank of America Building Daniel Regan, Price Family Properties Rick Guild, The Guild Co.
RETAIL SALE Shoppes of BA Grant Stewart, Wiggin Properties Wiggin/Transwestern
OFFICE LEASE Vast Bank Building Rick Guild, The Guild Co.
RETAIL DEVELOPMENT Shops of Warren Place Randy Hogan, Hogan Co.
INDUSTRIAL SALE Green Valley Center Dwayne Flynn, CBRE Inc. Bill Mizener, CBRE Inc. Ryan Shaffer, CBRE Inc.
OFFICE DEVELOPMENT VAST Bank Tom Biolchini, VAST Bank
INDUSTRIAL LEASE CenterGate Business Park Bob Pielsticker, CBRE Inc. Matt Reese, CBRE Inc. Matt Klimisch, CBRE Inc. David Glasgow, CBRE Inc. Alex Powell, CBRE Inc.
INDUSTRIAL DEVELOPMENT Amazon GT Bynum, Siegfried Cos.
SCOTT A. SANDITEN AWARD Derek Bateman A proven leader in the
OFFICE SALE 624 Boston Bob Pielsticker, CBRE Inc. Matt Reese, CBRE Inc. Patrick Fox, Fox & Allen
LAND SALE Greenhill Distribution Center Brian Beam, Owasso Land Trust Bob Parker, Owasso Land Trust Bob Pielsticker, CBRE Inc. Matt Reese, CBRE Inc.
commercial real estate field for over 25 years, Bateman combines his experience from both a corporate executive and landlord/owner perspective to provide innovative solutions for Trinity partners and clients. Bateman has been a valuable asset over the last couple of years – going above and beyond on all levels. Derek you are greatly appreciated!
Mark your calendars for April 23, 2020. The Oklahoma Chapter of NAIOP will name its 2019 deals of the year with a celebration at the Mayo Hotel. 58
RECOGNIZING THE EXPERTS
TOP COMPANIES FIND CCIM’S A CCIM (Certified Commercial Investment Member) is a recognized expert in the commercial and investment real estate industry.
WWW.OKCCIM.COM EXPERTISE
Integrity, expertise, and a commitment to economic growth and development in the state of Oklahoma are defining attributes of the Oklahoma Chapter of CCIM.
MONTHLY LUNCHEON 1st Wednesday of each month 11:30 am
Hilton Garden Inn I-44 & Yale
Let’s get down to business. You deserve financial stability, relevant resources and expert knowledge from your financial institution. Your INTRUST team is all of that, and so much more: we’re your trusted advisor, your champion, your strategic partner. Call us at 405-949-6547 or visit intrustbank.com.
L to R: Tom O’Keefe, Stephanie Greeson, Clayton Harman, Ken Guthery, Debra Handy. Not pictured: Alex Sedlacek
© 2018 INTRUST Bank
59
60
INDUSTRIAL OVERVIEW
TULSA’S BIG GETS When you think of the major industrial real estate headlines that have occurred in Tulsa during 2018 and the first half 2019, you think of big names: Sofidel, QT, Google, Greenheck, Muncie Power Products, Amazon, Whirlpool. All are prominent companies that have added substantially to the Tulsa industrial market. Amazon, with its four-story, 2.5 million square-foot fulfillment center. Whirlpool’s 798,000 square foot, $55 million expansion. Greenheck’s 360,000 square foot, $100 million manufacturing campus. Sofidel’s 1.8 million square foot, $360 million manufacturing plant in Inola. QuikTrip’s 250,000-square-foot Kitchens Distribution Facility. Google’s new four-story, $600 million data center expansion in Pryor. Muncie Power Products’ 300,000 square foot, $50 million facility.
BY DAVID R. LOONEY 61
INDUSTRIAL OVERVIEW
There also are some lesser-known companies
properties, which has strengthened those prop-
that will have a positive impact on the Tulsa
erties that otherwise would struggle with obso-
economy and the industrial real estate market.
lescence. With this use, the market has forced upward pressure on rental rates as most land-
•
Tekfins recently acquired a 244,000-square-
lords are requiring higher rents to offset the
foot manufacturing plant in west Tulsa for
perceived risk or the inability to use bank debt
its expansion.
with these properties. Relatively few of these cannabis operators have elected to purchase
•
Pregis Intellipack leased a 135,000-square-
properties initially, though the market should
foot manufacturing facility for its primary
expect to see acquisitions increase as opera-
North American operations and will be
tors look to invest their profits and protect their
consolidating operations from three other
business investments. While there have been
states into this location.
beneficial results from the cannabis demand, it remains to be seen if the market will become
As strong as all of these announcements have
too saturated with operators and if any of these
been, it has been the cannabis industry that
tenants can fulfill their leases. For the immedi-
has dominated the headlines ever since med-
ate future, cannabis will continue to have a sig-
ical marijuana was legalized one year ago. It
nificant impact with vacancies, absorptions and
has been reported and observed that almost
rental rates.
a quarter (though it has moderated during the 2Q19) of the inquiries received by brokers and landlords in Oklahoma and Tulsa are for: marijuana grow houses, processing facilities, dispensaries and testing labs.
TULSA ECONOMY AND INDUSTRIAL OVERVIEW
Tulsa’s job market has improved significantly, eclipsing the national average for year-overyear job growth during the last quarter of
62
Whether you agree with the moral and phar-
2017, but has trailed slightly during the past
maceutical aspects of medical cannabis, its
12 months. Tulsa felt the blow of low oil prices
demand for industrial properties has created
and job losses during 2014-2015. Since that
some notable benefits in the Tulsa market.
time period, however, employment growth has
One of the results of this demand has been the
gained momentum and the unemployment rate
greater utilization of Class C and D industrial
has returned to pre-downturn levels. Tulsa’s
manufacturing industries, including aerospace,
itive net absorptions, low vacancy rates and
continue to be a bright spot and will continue
a slowing of construction and deliveries, all
to move the industrial market forward.
which are good for landlords, but challenging for companies looking to expand. As expected,
The market fundamentals are solid with strong
rental rates continue to rise. Though deliver-
demand leading to increased occupancies.
ies have slowed, the second half of 2019 will
Vacancies are well below the historic averages
see more deliveries with about half being spec
and are about one-third of what they were seven
development. As a result of the spec deliver-
years ago. Even with the substantial delivery of
ies, vacancies will rise slightly, but will remain at
new inventory since 2012, net absorption has
low levels. Institutional investors and high net
outpaced supply gains during that time. As of
worth individuals are chasing every reasonable
the end of 19Q2, less than 5% of the space
deal in the top tier and secondary/tertiary mar-
delivered since recession was vacant. Rents
kets. Cap Rates, because of the strong funda-
have averaged 3% annual gains during the
mentals and rent growth, are around 6.3% and
past five years due to the vacancies remaining
reflect value and pricing appreciation across all
tight. Investment has been robust as sales vol-
industrial product types.
umes have exceeded historical averages for the sixth year in a row. Tulsa now has 3.3% unemployment. Tulsa’s MSA also is less than a few
NEW CONSTRUCTION
Currently, there are 14 properties under con-
thousand away from topping 1 million people,
struction totaling 2,976,319 square feet with
although the CSA is 1,251,000 people.
2.8 million being Amazon and Greenheck. Over 98% of the total is preleased. Though most
Nationally, strong demand for industrial prop-
multi-tenant developments are usually 40% pre-
erties has pushed vacancies to record lows,
leased, today there seems to be a greater confi-
with much of the demand for logistics and bulk
dence in the market fundamentals and demand.
warehouse to meet e-commerce requirements.
Most of the construction has occurred where
The trade tariffs and uncertainty of trade talks
the available developable land is, primarily in
with China have disrupted future projections
northeast Tulsa, southeast Tulsa/Broken Arrow
for the industrial sector, though no major neg-
and southwest Tulsa.
ative impacts have resulted so far for industrial properties. The first half of 2019 has seen pos-
Tulsa was settled in the mid 1830s, long before Oklahoma gained statehood in 1907.
63
INDUSTRIAL OVERVIEW
As mentioned, the pace of industrial development nationally has slowed somewhat, though the second half of 2019 is expected to double with over half of the deliveries being speculative. Though the larger markets receive the press, the smaller markets with seaports are seeing strong demand for new projects. With all of the development that is occurring, costs
network and thousands of brick-and-mortar stores, also is succeeding in improving their omnichannel model. Target and Macy’s, which already has a 1.5 million-square-foot distribution center in north Tulsa, also are expanding their shipping footprint and using outsight distribution channels, such as 3PL’s, to compete in this e-commerce/rapid delivery market.
are beginning to show signs of strain as labor costs as well as materials are growing. At some point, equilibrium must be reached. But for
Similar to metropolitan markets throughout
now, the demand continues.
the country, Tulsa’s industrial rental rates have
LEASING
Overall demand, construction costs and labor
tations for faster and faster deliveries of goods
cially with newer product. Rent growth has
As the shift continues in the consumers’ expecdue to the rise in e-commerce, the demand for more logistics products has increased. A byproduct of this expectation and demand, vacancies have remained below 4% and positive net absorption has been the norm since the beginning of this expansion cycle. As mentioned above, new space continues to be in high demand and this has positively impacted
appreciated during the last several years. expenses have helped push rents higher, espeaveraged around 3% with asking rents greater in
warehouse/light
industrial.
Distribution/
logistics center rent growth was slightly less though most of the new construction occurred with this product type, so the gap between the two types has compressed. Flex/Service center properties have historically lagged behind with higher vacancies, though the rental rates typi-
rental rates across all industrial product types.
cally are the highest.
The Amazon Fulfillment Center on North 129th
When examining the larger submarkets, the
East Avenue was by far the top industrial lease during the past 12 months at 2,560,000 square feet. Whirlpool Corp. leased another 470,000 square feet and Premier Steel leased a new 170,000 square-foot crane facility in Glenpool. Nationally, the large distribution hubs, such as Dallas/Fort Worth, Chicago and the Inland Empire in southern California, lead all markets in net absorption. Amazon is having a profound impact nationally, as well as locally, by leasing up 19.3 million square feet during the past 18 months. Walmart, with its massive distribution
64
RENTS
highest rents were observed in southeast Tulsa due to the highest concentration of flex service centers, warehouse distribution/logistics and new construction. West Tulsa contains the lowest rental rates and northeast Tulsa is experiencing strong growth because of the availability of developable land for new projects, as discussed earlier in the article. Tulsa’s asking rents trail the national average by 60%, but are on par with Oklahoma City and northwest Arkansas.
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CAP RATES
•
average 9.3% during 2019, compared with
•
Cap Rates for investment properties in Tulsa
for $5,400,000
6.3% nationally. This is not surprising considering the investment funds chasing few opportu-
Katy Distribution Center in southeast Tulsa 2121 N. 161st E. Ave.’s 228,000 square feet for $5,010,000
•
nities. During the past 10 years, Cap Rates have
ADDVantage Technologies in Broken Arrow for $5,000,000
fluctuated from 10.1% in 2018 to 6.3% in 2010.
•
H&P west Tulsa facility for $4,600,000
The forecast is for Cap Rates to be relatively flat
•
Former Madison Industries 244,000
or gradually increase over the next few years as interest rates increase and market fundamen-
square-foot facility for $4,500,000 •
tals moderate.
Former 134,600-square-foot Stairmaster building in northeast Tulsa for $4,350,000
•
Blackhawk Building in Broken Arrow’s Greenway Broken Arrow for $3,000,000
TULSA SALES
In 2018 the highest number of transactions —
•
168 — during the past 10 years took place. The strong sales volume throughout the year
square foot •
accounted for almost $32 million during the fourth quarter and about $100 million for the year with an average sales price of $29.87/
Garnett Center at $2,925,000 and $98/ PCES in southeast Tulsa for $2,250,000 at $74/square foot
•
8100 New Sapulpa Road sold for $202/ square foot (10,787 square feet).
square foot and a Cap Rate of 10.1%. Nationally, the transaction activity has been During the first half of 2019, the Tulsa indus-
focused around the major markets of New
trial market has been on pace to exceed 2018
York, Los Angeles, Dallas and Chicago, with a
with 86 transactions year-to-date, $1,124,240
substantial amount of institutional money pro-
average sales price, $32.52/square foot, and a
viding increased liquidity for those markets.
Cap Rate of 9.3% — an improvement of 0.8%.
Strong price appreciation has reflected the rent
The strongest price/square foot has occurred,
growth, keeping the overall Cap Rates below
as expected, with flex/service center properties
the lowest point during the last cycle. Looking
due to the higher ratio of office to warehouse
forward, the slower economic national growth
space.
should moderate the pricing gains, with forecasts of around 1.7% average rent growth over
Here are some of the notable transactions
the next five years.
during the past 12 months: • •
Green Valley Center in northeast Tulsa for
2019 OUTLOOK
Demand for 5,000 square feet to 20,000 square
$15,800,000
feet with 18-foot-plus clear height and yard
Crosstown Business Center’s 198,877
continues to be the strongest in the Tulsa indus-
square feet for $9,500,000
trial market with these buildings in short supply, especially those around 10,000 square feet.
Located at the head of navigation for the McClellan-Kerr Arkansas River Navigation System in northeast Oklahoma, the Tulsa Port of Catoosa is one of the largest, most inland river-ports in the United States.
65
INDUSTRIAL OVERVIEW
Because of the cost to construct this size of
•
additional inventory will be delivered,
building and developed lots also in short supply,
though it will still remain near record lows.
there is a large delta between the asking price for new construction compared to prospect’s expectations for such product. As these expec-
•
sales of these size of free-standing properties,
Tulsa’s MSA population will surpass 1 million people in 2019.
tations come in line with market conditions and demand, we anticipate additional delivery and
Vacancies will continue to rise slightly as
•
The first half of 2019 has seen relatively
especially given the demand due to cannabis.
flat demand for all product types, but
In NAIOP’s 2016 Tulsa Commercial Properties
during the remaining two quarters of 2019,
Tulsa is poised for a moderate expansion though that growth rate should stay near
Magazine, we wrote about the condition of the
the historical averages.
industrial real estate market. We equated it to a roller coaster with all of the ups and downs during the year and the impact the market and
•
tory will be flat, but new deliveries and
oil changes were making on demand in the Tulsa
post-1985 construction will experience
industrial market. As oil kept steadily increasing
3-4% rental growth, in line with expecta-
thru 2017 and most of 2018, demand, absorp-
tions.
tion, rates, and planned developments and construction strengthened in Tulsa. But since Oct. 3, when oil was $76.41 per barrel, the price of oil has dropped 44% to $42.53 on Dec. 24 and is now $58.33. Here are a few forecasts for the rest of 2019 and into 2020: •
Federal Reserve will maintain the Fed Funds rate, though the President is pushing for a lowering of the rate in
•
Rental rates for existing pre-1985 inven-
•
Medical marijuana will continue to impact the industrial market for the remainder of 2019, especially with C and D properties as well as some B Class properties.
There are still some hills on the roller coaster that could impact the Tulsa economy, such as political turmoil with President Trump and the
the near term.
Democrats, the Fed Funds rate questions,
The uncertainty of the trade wars with
China, the trade tariffs, and the historical cycles
Brexit, the economic slowdowns in Europe and
China, Mexico, Canada and Europe will have little impact in the near term, but could negatively impact Tulsa industrial
all economies go through. But there are reasons to be optimistic and Tulsa is poised for some solid performance in 2019 and into 2020. •
market, and its manufacturing and aerospace sectors during the first half of 2020.
Special thanks to CoStar and Nick Branston for their contributions.
With the establishment of the first post office in March 1879, the name Tulsa was officially adopted as the growing city’s name.
66
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2019 deals of the year award event April 23, 2020 • mayo hotel COMMERCIAL REAL ESTAT E DEVELOPMENT ASSOCIAT ION TULSA CHAPTER
THANK YOU AGAIN TO LAST YEAR’S SPONSORS PLATINUM SPONSOR
COCKTAIL HOUR SPONSORS
SILVER SILVERSPONSORS SPONSOR VALET SPONSOR
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67
INDUSTRIAL | SEE ZONES PAGE 27
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
2101 N. BEECH 2101 N BEECH BROKEN ARROW, OK 74012
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-935-2010 5100 E. SKELLY DR, STE 110 TULSA, OK 74103-74135
41,250 81.9% $7.50
3,711 7,447 YES
14’ DRIVE IN DOORS 16’ NO
BA
2600 WEST ALBANY 2600 W ALBANY BROKEN ARROW, OK 74012
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
46,492 66.8% $6.25
15,446 15,446 YES
DOCK 22’ NO
BA
6100 CENTER 2205 N WILLOW BROKEN ARROW , OK 74012
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
32,096 100.0% $7.50
0 0 NO
DRIVE IN & DOCK DOOR 18’ NO
BA
CENTERGATE BUSINESS PARK 13445 E. 59TH ST. TULSA, OK 74134
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
380,000 100.0%
0 0
DOCK HIGH/DRIVE IN 22’ NO
BA
COMMERCE CROSSING 2308-2316 N SWEET GUM AVE BROKEN ARROW, OK 74012
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
51,368 43.5% $6.95
29,038 29,038 YES
DOCK HIGH & DRIVE IN 24’ NO
BA
COMMERCE CROSSING 3825 W ALBANY BROKEN ARROW, OK 74012
CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
45,000 100%
0 0 YES
DOCK HIGH/DRIVE IN 24’ NO
BA
COMMERCE CROSSING 3925 W ALBANY BROKEN ARROW, OK 74012
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
43,119 100.0% $6.95
0 0 YES
DOCK HIGH/DRIVE IN 24’ NO
BA
GREENWAY TACOMA BUILDING 1913 TACOMA ST BROKEN ARROW, OK 74012
WATERMARK COMMERCIAL PROPERTIES / DUSTIN HANSEN / 918-994-4407 4527 E 91ST ST, TULSA, OK 74137
46,150 93.7% $7.00
2,900 2,900
DOCK/DRIVE IN 9-12’
BA
HENSHAW BUSINESS PARK 2502-2628 N HEMLOCK CITSTE A1 BLDG BROKEN ARROW, OK 74012
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
141,876 100.0% $7.95
0 0 NO
DOCK HIGH/DRIVE IN 21’ NO
BA
IOLA TRADE CENTER 1904 W. IOLA ST BROKEN ARROW , OK 74012
ADAMS & ASSOCIATES / DAN ADAMS / 918-495-3661 P. O. BOX 2407 BROKEN ARROW, OK 74013
20,000 50.0% $7.20
5,000 10,000 NO
NO
BA
METRO PARK EAST I 13700 E 61ST ST TULSA, OK 74146
EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
60,000 100.0% $5.50
0 0 YES
GRADE A DOCK 24’ NO
BA
METRO PARK EAST II 13655 E 61ST ST TULSA, OK 74146
EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
60,000 100% $5.50
0 0 YES
GRADE A DOCK 24’ NO
BA
METRO PARK IV 12122 E 55TH TULSA, OK 74146
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
112,500 100%
0 0 ESFR
DOCK HIGH & DRIVE IN DOORS 30’ NO
2833 E APACHE 2833 E APACHE TULSA, OK 74110
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
31,661 0.0% $5.12
31,661 31,661 NO
14’ No
4111 S. 72ND E. AVE. 4111 S. 72ND E. AVE. TULSA, OK 74135
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E 41ST STREET, SUITE 101, TULSA, OK 74135
30,924 100% $6.50
0 0
12-16’
CENTRAL
EXPRESSWAY CENTER 3621-3751 S 73RD E AVE TULSA, OK 74145
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
248,163 86.8% $4.50
11,744 32,738 YES
GRADE LEVEL & DOCK HIGH 18’ NO
CENTRAL
FORMER RESOURCE ONE PRINTING 6201 E 43RD ST TULSA, OK 74135
CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
108,230 0% $3.65
108,230 108,230
1 DRIVE IN DOOR, 2 DOCK DOORS; 1 RAMP DOOR
NO
CENTRAL CENTRAL
CENTRAL
10’-13’ NO
NOTE EXPANDED LISTING
68
PROJECT NAME ADDRESS CITY / STATE / ZIP
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (RSF) OCCUPANTCY RENT RATE
CONT. SPACE TOTAL AVAIL. SPRINKLERED
LOADING DOORS CLEAR HEIGHT RAIL SERVICE
EAST
12535 E. 52ND STREET WAREHOUSE 12535 E 52ND ST TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
82,290 100% $0
0 0 YES
9 24’ NO
EAST
51ST STREET TULSA BUSINESS PARK 11626 E 51ST ST TULSA, OK 74146
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-935-2010 5100 E. SKELLY DR, STE 110 TULSA, OK 74103-74135
40,000 90.6% $7.25
3,750 3,750 YES
14’ DRIVE IN DOORS 16’ NO
EAST
5304 E. 125TH E. AVE. 5304 E. 125TH E. AVE. TULSA, OK 74146
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL., STE. 400 TULSA, OK 74133
33,000 100% $7.25
0 0 0
EAST
5402 S. 129TH E. AVE 5402 S. 129TH E. AVE TULSA, OK 74134
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
20,000 100.0%
0 0 YES
28’ NO
EAST
5619 S 129TH E AVENUE 5619 S 129TH E AVENUE TULSA, OK 74134
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
88,000 0.0% $7.95
88,000 88,000 YES
30’ NO
EAST
56TH STREET WAREHOUSES 11105-11119 E 56TH ST TULSA, OK 74146
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
43,200 100.0%
0 0 YES
DRIVE IN 14’ NO
EAST
5800 CENTER 5727 / 5807 S GARNETT RD TULSA, OK 74146
EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
52,000 86.5% $7.50
4,200 7,025 NO
GRADE & DOCK 13’ NO
EAST
5800 GARNETT 5727 & 5807 S GARNETT RD TULSA, OK 74146
AMERICAN SOUTHWEST PROP / JACK WRIGHT / 918-251-0707 2341 W. ALBANY, SUITE A, BROKEN ARROW, OK 74012
62,000 83.9% $7.50
10,000 10,000 NO
GRADE LEVEL & DOCK HIGH 18’ NO
EAST
7498 E. 46TH PL 7498 E. 46TH PL TULSA, OK 74145
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
78,600 0% $4.35
78,600 78,600 NO
11 DRIVE IN & DOCK DOORS 14’-26’ NO
EAST
BUSINESS COMMONS TECH CENTER
EAST
• • • • •
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 90.7% $7.00
3,461 3,461 NO
GRADE LEVEL OVERHEAD 12’ - 13’ NO
EAST
CENTERGATE BUSINESS PARK 5935 S. 129TH E. AVE TULSA, OK 74134
CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
61,000 100.0%
0 0
DOCK HIGH / DRIVE IN 30’
EAST
CENTERGATE BUSINESS PARK 5616 S. 129TH E. AVE. TULSA, OK 74134
CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
556,000 100.0% $5.50
0 0 YES
DOCK HIGH / DRIVE IN 30’ NO
EAST
CENTERGATE BUSINESS PARK 5825 S. 129TH E. AVE. TULSA, OK 74134
CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
37,938 100.0% $750.00
0 0 YES
DOCK HIGH / DRIVE IN 24’ NO
EAST
CENTERGATE BUSINESS PARK 13033 E. 59TH ST. TULSA, OK 74134
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
113,120 100.0%
0 0 YES
DOCK HIGH & DRIVE IN 30’ NO
EAST
CENTERGATE BUSINESS PARK 13404 E. 59TH ST. TULSA, OK 74134
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
61,120 100.0%
0 0 YES
DOCK HIGH & DRIVE IN 30’ NO
EAST
CENTERGATE BUSINESS PARK 13120 E. 59TH ST. TULSA, OK 74134
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
106,000 100.0%
0 0 YES
DOCK HIGH & DRIVE IN 30’ NO
EAST
CENTERGATE BUSINESS PARK 13510 E. 59TH ST. TULSA, OK 74134
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
60,594 100.0%
0 0 YES
DOCK HIGH & DRIVE IN 30’ NO
EAST
CENTERPOINTE BUSINESS PARK 5802-5884 S 129TH E AVE TULSA, OK 74134
ADAMS & ASSOCIATES / DAN ADAMS / 918-495-3661 P. O. BOX 2407 BROKEN ARROW, OK 74013
74,000 94.6% $5.95
3,000 4,000 NO
YES 12’ NO
NOTE EXPANDED LISTING
69
INDUSTRIAL | SEE ZONES PAGE 27
PROJECT NAME ADDRESS CITY / STATE / ZIP
EAST
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
FREEPORT TRADE CENTER
SIZE (RSF) OCCUPANTCY RENT RATE
• • • • • •
3148-58-68 South 108th East Avenue
CONT. SPACE TOTAL AVAIL. SPRINKLERED
LOADING DOORS CLEAR HEIGHT RAIL SERVICE
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 89.2% $7.50
12,000 20,000 YES
DOCK HIGH, VAN HIGH, GRADE LEVEL 18’, 15.5’, 14.5’ NO
EAST
GARNETT BUSINESS PARK 5460-5550 S GARNETT RD TULSA, OK 74146
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
182,000 97.5% $6.50
4,639 YES
2 16’ NO
EAST
GRAEBEL WAREHOUSE 12535 E 52ND ST TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
82,290 100% $4.50
0 0 YES
(4)10’X10’ DH W/ LEVELERS, (2)8’X10’ DH, (2)12’X14’DI, (1)14’X14’DI
EAST
HEARTLAND TRADE CENTER 12330 E 60TH ST TULSA, OK 74146
ADAMS & ASSOCIATES / DAN ADAMS / 918-495-3661 P. O. BOX 2407 BROKEN ARROW, OK 74013
39,520 75.3% $5.95
9,750 9,750 NO
YES 10’ NO
EAST
MARK I BUSINESS CENTER 12616 - 12626 E 60TH ST TULSA, OK 74146
CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
50,230 100.0%
0 0 YES
DRIVE IN 19’ NO
EAST
METRO PARK EAST V 6031 S 129TH E AVE TULSA, OK 74134
CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
59,524 48.8% $7.75
30,500 30,500 YES
DOCK HIGH & DRIVE IN 30’ NO
EAST
METRO PARK I 5233 S 122ND E AVE TULSA, OK 74146
EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
48,000 100% $7.00
0 0 YES
DOCK & GRADE 24’ NO
EAST
METRO PARK SOUTH 5915 S 118TH E AVE TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
40,000 100%
0 0 YES
DOCK & GRADE 25’ NO
EAST
METRO PARK SOUTH 11807 E 61ST TULSA, OK 74137
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
18,960 100%
0 0 YES
5 24’ NO
EAST
METRO PARK SOUTH 5925 S 118TH E AVE TULSA, OK 74137
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
20,000 100% $0
0 0 YES
YES 24’ NO
EAST
METRO WAREHOUSE 5616-5634 S 122ND E AVE TULSA, OK 74146
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-935-2010 5100 E. SKELLY DR, STE 110 TULSA, OK 74103-74135
73,475 95.9% $6.50
1,500 3,000 PARTIAL
DRIVE IN 16’
EAST
NEWBURY PARK 122 5666 S 122ND E AVE TULSA, OK 74146
NEWBURY PARK / DAVID RUNNELS / 918-812-9988 02021 S. LEWIS AVE , STE 600 TULSA, OK 74104
134,000 94.4% $6.00
5,000 7,500 YES
12’X14’ OHD 20’ & 24’ NO
EAST
SOUTHEAST TECH CENTER
24’ NO
• Located in Metro Park, one of Tulsa’s nicest industrial parks • Easy access with E. 55th St. frontage, one block west of S. 129th E. Ave. • Attractive Design with convenient drive-in loading • Ample loading areas
5411 South 125th East Avenue
Contact: Bob Meyer or Jason M. Kennon Case & Associates Properties, Inc. 918-492-1983
EAST
SOUTHEAST TECH CENTER 5411 S 125TH E AVE TULSA, OK 74146
CASE & ASSOCIATES / JASON KENNON / 918-492-1983 4200 E. SKELLY DRIVE, SUITE 800 TULSA, OK 74135
31,506 90.8% $7.00
2,900 2,900 NO
GRADE LEVEL 14’ NO
EAST
SOUTHPLACE TRADE CENTER 8700 E 41ST TULSA, OK 74145
DAVE RICH COMPANY REALTORS / BILL RICH / 918-744-5474 6506 S. LEWIS AVE., STE. 108, TULSA, OK 74136
25,000 71.2% $6.00
3,600 7,200 NO
NONE 10’ NO
EAST
SPACE CENTER EAST 11915-12027 E 51ST ST TULSA, OK 74146
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
205,500 100.0% $4.50
0 0 YES
DOCK HIGH/DRIVE IN 18’ NO
EAST
TANDEM BUSINESS PARK 12101-12221 E 51ST TULSA, OK 74146
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
88,084 -416.1% $8.00
9,268 454,629 NO
DRIVE IN 14’ NO
NOTE EXPANDED LISTING
70
PROJECT NAME ADDRESS CITY / STATE / ZIP
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (RSF) OCCUPANTCY RENT RATE
CONT. SPACE TOTAL AVAIL. SPRINKLERED
LOADING DOORS CLEAR HEIGHT RAIL SERVICE
EAST
TRIANGLE INDUSTRIAL PARK 5829-5899 S GARNETT RD TULSA, OK 74146
LEGACY CP ADVISORS / DAVID LOONEY / 918-438-9999 5841 S. GARNETT RD TULSA, OK 74146
160,890 93.2% $5.00
10,921 10,921 YES/NO
MULTIPLE 16’ - 22’ NO
EAST
WILSHIRE SQUARE 5115 -5129 S. 100TH E. AVE. TULSA, OK 74146
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
34,413 92.6%
2,530 2,530 YES
DRIVE-IN DOORS 14’ NO
1 DRIVE-IN DOOR; 4 OH DOORS; 3 DOCK DOORS
MIDTOWN MIDTOWN
4221 S. 68TH E. AVE. 4221 S. 68TH E. AVE. TULSA, OK 74145
CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
113,345 38.2% $4.50
70,064 70,064
MIDTOWN
4344 S. MAYBELLE AVE. 4344 S. MAYBELLE AVE. TULSA, OK 74107
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL. , STE. 400 TULSA, OK 74133
27,462 0.0% $4.75
27,462 27,462
MIDTOWN
6504 E. 44TH ST. 6504 E. 44TH ST. TULSA, OK 74145
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
25,163 100.0% $4.50
0 0 YES
(3)12’X12’ DH (1)12’X14’ DI OHD (1)12’X14’ DOCK OHD 20’ NO
MIDTOWN
ALLTEC CENTER 9300-B BROKEN ARROW EXPRESSWAY TULSA, OK 74145
BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
22,967 100.0% $5.50
0 0 YES
GRADE LEVEL
EXPRESSWAY TRADE CENTER 4304-4328 S MINGO RD TULSA, OK 74146
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-935-2010 5100 E. SKELLY DR, STE 110 TULSA, OK 74103-74135
27,500 22.2% $8.50
6,701 21,406 NO
NO
MIDTOWN
FLEX SPACE 4401 S SHERIDAN RD TULSA, OK 74145
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
102,214 100% $4.50
57,110 0 YES
4 16-22’ NO
MIDTOWN
MAXIM BUSINESS PARK 43RD ST & MINGO RD TULSA, OK 74146
BAUER & ASSOCIATES / LARRY MANLEY / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
110,056 97.5% $7.00
5,162 2,700 NO
YES 12’ NO
MIDTOWN
MAXIM CENTER 4717-4733 S MEMORIAL TULSA, OK 74145
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
40,800 93.1% $9.00
2,834 2,834 YES
DOCK HIGH & GRADE LEVEL 14’ NO
MIDTOWN
MAXIM PLACE 6701-6715 E 41ST ST TULSA, OK 74145
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
33,750 100.0% $8.00
0 0 NO
GRADE LEVEL 14’ NO
MIDTOWN
NEWBURY PARK 46 6549 E 46TH ST TULSA, OK 74145
NEWBURY PARK / DAVID RUNNELS / 918-812-9988 02021 S. LEWIS AVE , STE 600 TULSA, OK 74104
37,500 93.3% $6.00
2,500 2,500 YES
12X14” OHD 20’ NO
MIDTOWN
SPACE CENTER 7001-7287 E 38TH ST TULSA, OK 74145
CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
495,000 87.1% $4.25
33,750 63,750 YES
GRADE LEVEL & DOCK HIGH 18’ YES
MIDTOWN
SUNBELT PLAZA 4343 S MEMORIAL TULSA, OK 74133
MCCOY PROPERTY COMPANY / JIM MCCOY / 918-834-1514 1241 S. HARVARD AVE, TULSA, OK 74112
62,550 76.0% $9.50
9,595 14,995
MIDTOWN
THE TRADE CENTER 7739-43 E 38TH ST TULSA, OK 74145
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-935-2010 5100 E. SKELLY DR, STE 110 TULSA, OK 74103-74135
32,800 90.2% $6.25
1,200 3,200 NO
DRIVE-IN DOORS
MIDTOWN
TULSA BUSINESS PARK 7202-7378 E 38TH ST TULSA, OK 74145
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
204,600 75.5% $5.00
13,200 50,160 NO
GRADE LEVEL & DOCK HIGH 16’ - 18’ NO
MIDTOWN
TULSA DISTRIBUTION CENTER 4477 S 70TH E AVE TULSA, OK 74145
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
426,044 99.5% $5.00
2,088 2,088 YES
DOCK HIGH / DRIVE IN VARIES YES
MIDTOWN
NO
NO
NO
NORTH NORTH
3621 N MINGO 3621 N MINGO TULSA, OK 74116
CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
42,000 0%
42,000 42,000 NO
DOCK HIGH/DRIVE IN 32’ NO
NORTH
5199 N MINGO RD 5199 N MINGO RD TULSA, OK 74117
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
202,486 42.8% $3.50
115,918 115,918 NO
DRIVE IN 20’-32’ NO
NOTE EXPANDED LISTING
71
INDUSTRIAL | SEE ZONES PAGE 27
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
6408 & 6410 E ARCHER ST 6408 & 6410 E ARCHER ST TULSA , OK 74115
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
21,000 75.4% $6.30
5,175 5,175 NO
6 - 8X10 DRIVE IN DOORS
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
29,680 100.0% $5.50
NORTH
BRANIFF PARK WEST 10502-10626 E PINE ST TULSA, OK 74116
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
261,692 91.1% $4.75
23,413 23,413 YES
NORTH
LOUISVILLE COMPLEX PLANT 3 1355 N LOUISVILLE AVE TULSA, OK 74115
CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
65,350 39.7% $5.00
24,750 39,416
NORTH
MIDTOWN INDUSTRIAL CENTER 1024 N LANSING AVE TULSA, OK 74106
TRABAND REALTY / ROBERT TRABAND / 918-629-1988 P. O. BOX 869 TULSA, OK 74101
33,000 100% $4.75
0 0 NO
BOTH DOCK & DRIVE IN 16’ NO
NORTH
NAUTILUS MANUFACTURING FACILITY 10757 E UTE TULSA, OK 74116
LEGACY CP ADVISORS / DAVID LOONEY / 918-438-9999 5841 S. GARNETT RD TULSA, OK 74146
134,600 0% $4.85
134,600 134,600 YES
DOCK HIGH & DRIVE IN 24’ NO
NORTH
TFP AIRPORT DISTRIBUTION CENTER 8831 E PINE TULSA, OK 74115
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
120,000 100.0% $2.95
0 0 YES
8 25’ NO
NORTH
NO DRIVE IN / 14’ ROLL UP DOOR 16’ DOCK DOORS & DI 21’ NO
NORTHEAST NE
10701 E. UTE 10701 E. UTE TULSA, OK 74116
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
24,510 74.1% $8.50
6,350
12’
NE
1110 W TENKILLER 1110 W TENKILLER CATOOSA, OK 74015
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
238,310 0.0% $6.40
238,310 238,310 YES
(8) DOCK HIGH DOORS; (8) DRIVE-IN DOORS
NE
11610 E 27TH ST 11610 E 27TH ST TULSA, OK 74116
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
80,580 48.8% $6.50
41,250 41,250 YES
DRIVE IN & DOCK HIGH 30 NO
NE
2121 N 161ST E AVENUE 2121 N 161ST E AVENUE TULSA, OK 74116
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
228,000 0.0% $5.50
228,000 228,000 NO
DRIVE IN 37’ YES
NE
AIRPORT INDUSTRIAL PARK I 11501 - 11541 E PINE ST TULSA, OK 74146
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
155,000 100.0%
0 0 YES
DOCK HIGH & DRIVE IN 25’ NO
NE
BP EXCHANGE 10828 E NEWTON ST TULSA, OK 74116
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
173,400 92.6% $5.50
5,100 12,750 NO
GRADE LEVEL 12’ - 16’ NO
NE
BP EXCHANGE INDUSTRIAL PARK 10837 E. MARSHALL TULSA, OK 74116
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
163,200 92.2% $5.25
2,550 12,750
NE
BRANIFF PARK EAST 1339-1381 N 108TH E AVE TULSA, OK 74116
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
67,660 82.0% $6.00
6,100 12,200 NO
GRADE LEVEL/DOCK HIGH 12’-16’ NO
NE
CROSSTOWN BUSINESS CENTER 9797-10161 E ADMIRAL PL TULSA, OK 74116
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-935-2010 5100 E. SKELLY DR, STE 110 TULSA, OK 74103-74135
380,000 97.1% $3.75
11,086 11,086 YES
DOCK HIGH/DRIVE IN 18’ NO
NE
GREEN VALLEY CENTER 11333 E PINE ST TULSA, OK 74116
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
392,229 100.0% $4.75
0 0 YES
OHD & DOCK DOORS 34’ NO
NE
INTERCHANGE BUSINESS PARK 10835 E INDEPENDENCE TULSA, OK 74116
CBRE, INC. / MATT KLIMISCH / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
106,387 89.5% $7.95
11,183 11,183 YES
DOCK HIGH & DRIVE IN 18’ NO
NE
PECAN VALLEY BUSINESS CENTER 1345 N. GARNETT TULSA, OK 74116
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
27,600 0% $7.50
27,600 27,600 NO
DRIVE IN 20’ NO
NE
VANS GLEN 10816-10840 E NEWTON PL TULSA, OK 74116
PRICE EDWARDS / TANDA FRANCIS / 918-394-1000 7633 E. 63RD PL. , STE. 400 TULSA, OK 74133
53,642 97.2% $4.68
1,500 1,500 0
GRADE 10’ NO
NE
WOLF POINT INDUSTRIAL PARK 1558 N. 107TH AVE. TULSA, OK 74116
CBRE, INC. / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
20,000 0% $4.77
20,000 20,000
(2) GRADE LEVEL (1) DOCK HIGH 13”
40’ YES
NOTE EXPANDED LISTING
72
PROJECT NAME ADDRESS CITY / STATE / ZIP
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (RSF) OCCUPANTCY RENT RATE
CONT. SPACE TOTAL AVAIL. SPRINKLERED
LOADING DOORS CLEAR HEIGHT RAIL SERVICE
OWASSO LAND TRUST / BOB PARKER / 918-605-5865 12150 E. 96TH ST. N., STE 200 OWASSO, OK 74055
125,510 75.5% $6.50
20,000 30,710 NO
DRIVE IN 16’ NO
10405 E 55TH PL 10405 E 55TH PL TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
234,191 100.0% $4.50
0 0 YES
NO
SOUTH
12727 E 61ST ST 12727 E 61ST ST TULSA, OK 74146
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
32,600 0.0% $12.00
32,600 32,600 YES
DRIVE IN & DOCK HIGH 24’ NO
SOUTH
5171 SO. MINGO ROAD 5171 S MINGO RD TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
31,450 100%
0 0 YES
LOADING DOCK/DOORS 28’ CLEAR NO
SOUTH
52ND STREET WAREHOUSE 10000-10050 E 52ND ST TULSA, OK 74146
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
96,480 13.4% $3.95
70,560 83,520 YES
DOCK HIGH 20’ NO
SOUTH
5400 INDUSTRIAL CENTER 5439-5445 S 99TH E AVE TULSA, OK 74146
LEGACY CP ADVISORS / DAVID LOONEY / 918-438-9999 5841 S. GARNETT RD TULSA, OK 74146
15,840 61.1% $8.00
3,180 6,163 NO
2 UP TO 21’ NO
SOUTH
5566 S GARNETT RD 5566 S GARNETT RD TULSA, OK 74146
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
40,680 0.0% $4.75
40,680 40,680 YES
MULTIPLE DRIVE IN DOORS
SOUTH
55TH PLACE BUSINESS PARK 10404 E 55TH PL TULSA, OK 74146
ADAMS & ASSOCIATES / DAN ADAMS / 918-495-3661 P. O. BOX 2407 BROKEN ARROW, OK 74013
41,160 100% $7.25
0 0 NO
16.5’ NO
SOUTH
6010 S 129TH E AVE 6010 S 129TH E AVE TULSA, OK 74146
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
23,584 0.0% $12.00
23,584 23,584 YES
24’ NO
SOUTH
7181 MINGO CENTER 7181 S MINGO RD TULSA, OK 74133
EQUITAS REALTY ADVISORS / MARCO PLACENCIA / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
37,400 100% $8.00
0 0 YES
GRADE 14’ NO
SOUTH
9999 E. 59TH ST 9999 E 59TH ST TULSA, OK 74146
CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
81,960 0% $4.50
81,960 81,960 YES
DRIVE IN GRADE LEVEL (1) (5)DOCK HIGH 20’ NO
SOUTH
ALSUMA DESIGN CENTER 9915 E. 51ST ST. TULSA, OK 74145
LEGACY CP ADVISORS / DAVID LOONEY / 918-438-9999 5841 S. GARNETT RD TULSA, OK 74146
25,000 68.0% $11.00
8,000 8,000 YES
1 18-22’ NO
SOUTH
BRANIFF MART 5401 S SHERIDAN RD TULSA, OK 74145
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
33,600 66.1% $8.00
8,400 11,400 NO
10’X10’ OVERHEAD 12’ NO
SOUTH
JENKS TRADE CENTER 8446-8448 S PEORIA TULSA, OK 74132
CBRE, INC. / JIM BROWN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
20,000 75% $6.50
2,500 2,500 NO
MULTIPLE DRIVE IN DOORS 15-16’ NO
OWASSO OWASSO
OWASSO INDUSTRIAL PARK 202-310 E. 5TH AVE. OWASSO, OK 74055
SOUTH SOUTH
NO
NOTE EXPANDED LISTING
73
INDUSTRIAL | SEE ZONES PAGE 27
PROJECT NAME ADDRESS CITY / STATE / ZIP
LEASING CO. / AGENT / PHONE ADDRESS CITY / STATE / ZIP
SIZE (RSF) OCCUPANTCY RENT RATE
CONT. SPACE TOTAL AVAIL. SPRINKLERED
LOADING DOORS CLEAR HEIGHT RAIL SERVICE
SOUTH
FORD PARTS DISTRIBUTION CENTER 10007 E 61ST TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
80,000 100% $0
0 0 YES
YES 24’ NO
SOUTH
IPC BUSINESS PARK 10102-10126 E 54TH ST S TULSA, OK 74146
ADAMS & ASSOCIATES / DAN ADAMS / 918-495-3661 P. O. BOX 2407 BROKEN ARROW, OK 74013
68,660 98.5% $7.00
1,012 1,012 NO
YES 16.5’ NO
SOUTH
MARKET PLACE EAST 9436 E 51ST ST TULSA, OK 74145
BAUER & ASSOCIATES / DOUG BAUER / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
26,048 87.3% $10.00
3,300 3,300 NO
YES 12’ NO
SOUTH
MARKET PLACE WEST I 9410 E 51ST ST TULSA, OK 74146
EQUITAS REALTY ADVISORS / MONTY BERRY, CCIM / 918-280-9900 5801 E. 41ST STREET, SUITE 101, TULSA, OK 74135
27,600 76.5% $11.00
6,474 6,474 NO
GRADE LEVEL 14’ NO
SOUTH
MARKET POINTE SOUTH 111TH ST & MEMORIAL BIXBY, OK 74008
WIGGIN PROPERTIES, LLC / SHAWNA HALE / 918-935-2010 5100 E. SKELLY DR, STE 110 TULSA, OK 74103-74135
106,900 96.0% $6.50
2,200 4,300 NO
DRIVE IN OVERHEAD DOORS 17’-21’ NO
SOUTH
METRO PARK EAST III 13505-13555 E 61ST ST BROKEN ARROW, OK 74012
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
100,000 100.0%
0 0 YES
DOCK HIGH/DRIVE IN 30’ NO
SOUTH
METRO PARK EAST IV 13105 E 61ST ST TULSA, OK 74012
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
57,450 73.9% $6.25
15,000 15,000 YES
DOCK HIGH & DRIVE IN 24’ NO
SOUTH
REGENCY CENTER 5024 S MINGO RD TULSA, OK 74146
TWENTY-FIRST PROPERTIES, INC. / MIKE ESTUS / 918-743-4300 2121 S. COLUMBIA, SUITE 650, TULSA, OK 74114
28,800 100% $0
0 0 YES
5 24’ NO
SOUTH
SHANNON SQUARE 9433, 9515, 9525 E 51ST TULSA, OK 74145
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
99,192 71.3% $5.25
6,400 28,466 NO
YES 12’ NO
SOUTH
SKYLAND SOUTH 5130-5161 S 94TH E AVE TULSA, OK 74145
BAUER & ASSOCIATES / 918-665-1210 4821 S. SHERIDAN, SUITE 201 TULSA, OK 74145
65,095 89.3% $5.75
4,497 6,997 NO
YES 16’ NO
2300 S HIGHWAY 97 2300 S HIGHWAY 97 SAND SPRINGS, OK 74063
CBRE, INC. / DAVID GLASGOW / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
517,148 71.0% $1.75
150,000 150,000 NO
40’ YES
WEST
6430 S. 39TH W. AVE. 6430 S. 39TH W. AVE. TULSA, OK 74132
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
31,312 0% $5.00
27,564 31,312 NO
5 DRIVE IN & DOCK DOORS 11’ NO
WEST
8665 W 78TH ST 8665 W 78TH ST TULSA, OK 74131
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
28,000 100.0% $6.50
0 0 NO
36’ NO
WEST
909 W. 23RD STREET 909 W. 23RD STREET TULSA, OK 74107
CBRE, INC. / TONY AARONSON / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
52,767 0.0% $4.00
52,767 52,767
(17) GRADE LEVEL LOADING DOCK 14 NO
WEST
TULSA INDUSTRIAL CENTER 5400 S 49TH W AVE TULSA, OK 74107
CBRE, INC. / DWAYNE FLYNN / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
363,692 100.0% $3.50
0 0 NO
DOCK HIGH & DRIVE-IN UP TO 35’ YES
WEST
7600 NEW SAPULPA RD. 7600 NEW SAPULPA RD. TULSA, OK 74131
CBRE, INC. / JAMES HILL, JR. / 918-665-3830 1401 SO BOULDER AVE., SUITE 100 TULSA, OK 74119-3648
42,400 0.0% $5.50
42,400 42,400
5 DRIVE-IN DOORS 28 YES
WEST WEST
NOTE EXPANDED LISTING
74
NAIOP 2019 A DV E RT I S E R S I ND EX
American Heritage Bank 918-224-3210 anb.bank Page 21 Bank of Oklahoma 918-499-8470 7060 S. Yale Ave., Suite 301 Tulsa, OK 74136 bok.com Page 47 BAM Properties 918-584-1414 320 S. Boston Ave., Suite 1130 Tulsa, OK 74103 bamproperties.com Inside Back Cover Case and Associates 918-492-1983 4200 E. Skelly Drive, Suite 800 Tulsa, OK 74135 caseusa.com Back Cover CityPlex 918-493-8888 2488 E. 81st St., Suite 188 Tulsa, OK 74137 tulsatrinity.com Page 1 Commercial Title 918-556-6336 4739 E. 91st St., Suite 200 Tulsa, OK 74137 commercialtitleok.com Page 2 CoStar 800-204-5960 sales@costar.com Page 26 CrossFirst Bank 918-494-4884 7120 S. Lewis Ave. Tulsa, OK 74136 crossfirstbank.com Page 19
Cyntergy 918-877-6000 320 S. Boston Ave. Tulsa, OK 74103 cyntergyaec.com Page 26 Firstar Bank 918-296-1310 9696 E. 101st St. Tulsa, OK 74133 firstar-bank.com Page 4
Frisbie Lombardi Commercial Real Estate 918-747-7600 P.O. Box 52126 Tulsa, OK 74152-0126 frisbielombardi.com Page 47
Legacy Commercial Property Advisors 918-438-9999 5841 S. Garnett Road. Tulsa, OK 74146 legacyadvisors.com Page 59
McGraw Realtors has been locally owned and managed since 1938 and will be celebrating 80 years in business in 2018. The commercial division was founded in 2008 and since then we have acquired some of the most sought after listings in The Greater Tulsa Area. We now have 15 Commercial Real Estate Agents as well as a team dedicated to Commercial Property Management. We look forward to continued growth alongside our great city!
Industrial . Warehouse . Office . Land . Multi-Family . Retail . Medical /mcgrawcp /mcgraw-commercial-proper ties @mcgraw_cp
McGraw Commercial Properties 4105 S. Rockford Ave. Tulsa, OK 74105 918.388.9588 www.mcgrawcp.com
McGraw 918-388-9588 4105 S. Rockford Road Tulsa, OK 74105 mcgrawcp.com Page 4 MidAmerica 918-825-3500 4075 Sanders Mitchell St. Pryor Creek, OK 74362 maip.com Insert - Page 64
Gemini Rosemont 918-492-3400 6100 S. Yale Ave., Suite 390 Tulsa, OK 74136 geminirosemont.com Inside Front Cover
OK CCIM 918-850-3654 P.O. Box 14343 Tulsa, OK 74159 okccim.com Page 59
Great Southern Bank 918-499-2602 4200 E. Skelly Drive, Suite 900 Tulsa, OK 74135 greatsouthernbank.com Page 80
Price Edwards & Co. 918-394-1000 7633 E. 63rd Place, Suite 400 Tulsa, OK 74133 priceedwards.com Page 17
INTRUST Bank 405-949-6547 1450 S. Kelly Ave. Edmond, OK 73003 intrustbank.com Page 59
Tulsa Regional Chamber 918-585-1201 1 W. Third St. Tulsa, OK 74103 tulsachamber.com Page 19
JLL 918-492-4844 405-721-1133 us.jll.com/valuation-advisory Page 21
Twenty First Properties 918-743-4300 2121 S. Columbia Ave., Suite 650 Tulsa, OK 74111 tfptulsa.com Page 17
75
76
M U LT I F A M I LY O V E R V I E W
LOOKING GOOD New developments and strong trends help the multifamily market excel. The multifamily sector in the Tulsa MSA has performed strongly in 2019 to date and looks to perform strongly for the foreseeable future in terms of vacancy rates, rental rates and absorption. This sector has experienced strong performance since 2017. The reason for the strong runup in performance of the sector is two-fold: Strong regional macroeconomic trends and a lack of new apartment units being delivered to the market.
BY STEVEN WATTS 77
M U LT I FA M I LY O V E R V I E W
The Cosmopolitan, currently wrapping up construction at 1717 S. Riverside Drive, will have 264 units ranging in size from studios to threebedroom apartments. MICHELLE POLLARD
There are major multifamily projects under
should do the same for the South Tulsa and
development and planned for the market that
Broken Arrow Class A submarket.
should be undertaking leases in the next 6 to 12 months. These two major projects to watch are:
A submarket that has performed significantly well over the past 24 months has been the
Bomasada’s Cosmopolitan
downtown Tulsa submarket with stabilized
1717 S. Riverside Drive
occupancy for Class A product in the 92-95%
264 units
range and rental rates around the $1.50/square foot. The downtown Tulsa submarket had a sig-
78
Case & Associates’ The Cottages
nificant amount of new units introduced in late
at Cedar Ridge
2016 to early 2017 and it took some time for
East 96th Street and South Garnett Road
these new units to be absorbed, but most all
337 units
units were absorbed by early 2018.
The Cosmopolitan project, located just outside
In addition to the two projects already men-
the IDL, should impact the demand factors of
tioned under development, there are several
the downtown Tulsa Class A multifamily sub-
other large projects planned for the Tulsa
market, while The Cottages at Cedar Ridge
market:
American Residential Group’s The View
located at the intersection of East Archer Street and North Elgin Avenue in the Greenwood District
Noteworthy sales YEAR-TO-DATE IN 2019
161 units Case & Associates’ Redbud Ranch
East 121st Street and County Line Road, Broken Arrow
MOST NOTABLE SALE OF THE YEAR: ESTANCIA AND SONOMA GRANDE 630 units
309 units
LOCATION: East 81st Street and South
Case & Associates’ Aspen Meadows
South 145th East Avenue and East 71st Street, Broken Arrow
Mingo Road (Steadfast Portfolio – 81st & Mingo Corridor) SOLD: March 2019
PRICE: $65,750,000
282 units The View is expected to break ground soon for hopeful delivery by the end of 2020. For the other two Case & Associates’ projects, those are planned to be built in sequence with Redbud Ranch being started by the end of 2019 and Aspen Meadows expected to start in 2020. These projects expect to perform well in a market that continues to show strong market
SILVER CREEK CLASS B
320 units
1980 construction
LOCATION: East 41st Street and Highway 169 SOLD: May 2019
PRICE: $14,640,000
trends. The primary concerning macroeconomic factor for the market looks to be stagnant population growth. Net migration is not happening into the market like you would like to see on a long-term basis.
MIXED-USE GROUND FLOOR RETAIL AND 16 APARTMENT UNITS
LOCATION: East Archer Street and
Overall, there is much to be encouraged with in the multifamily sector in the Tulsa MSA. The market has had an excellent 24 months. The big test for the market will be to see how the new supply is absorbed later in 2019 and into 2020. •
DETROIT LOFTS
North Detroit Avenue SOLD: July 2019
PRICE: $4,600,000 Approximately $125 million in net sales in the Tulsa MSA.
Artist Bob Haozous’ “Artificial Cloud” was installed in 1992 on the Boston Avenue Pedestrian Bridge. It is 72.5 feet tall and comments on man’s love of technology and the destructiveness that can come from that love.
79
here’s to you, the ones who make business happen. we’re honored to help make YOUR PROJECTS REALITY.
$ 21,147,000
$ 6,250,000
$ 5,000,000
apartment construction loan bixby, ok
DOWNTOWN OFFICE REFINANCE TULSA, ok
COMMERCIAL RETAIL CONSTRUCTION BROKEN ARROW, ok
$ 1,950,000
$ 250,000
MEDICAL OFFICE REFINANCE TULSA, ok
owner-occupied acquisition TULSA, ok
Blake Will
918.499.2602
bwill@greatsouthernbank.com
Jenna Schwark
918.499.2640
jschwark@greatsouthernbank.com
Chris Meyers
918.499.2609
cmeyers@greatsouthernbank.com
GreatSouthernBank.com NMLS# 423054
Commercial Lending
Your Key to Tulsa’s Most Famous Spaces.
320 South Boston Building
Mid-Continent Tower
Kennedy Building
21st & Xanthus
Utica Plaza
Utica Place
bam
Properties.
(918) 584-1414 320 South Boston Avenue, Suite 1130 Tulsa, Oklahoma 74103 Review available listings at bamproperties.com
1515 South Utica
Utica Center West
100 Boulder
Case and point. It’s pretty simple. At Case & Associates Commercial, business is easy. We have the best deals in the market and can move faster than any other property management company. Working with someone else...what’s the point? Visit caseusacommercial.com commercial.com for a complete listing of current properties.
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