Price Edwards & Company Announces
First Quarter Market Sales Statistics
Office
Cordell Brown, CCIM, CIPS
Office Investment Specialist
Office Market Slows in First Quarter of 2018
The 1st Quarter of 2018 is showing the results of a tough year of leasing in 2017 and is indicative of a slowdown now occurring in the office sales market. Higher vacancy rates eventually affect capitalization rates and projected returns on investment. This puts pressure on sales prices and causes sellers to have second thoughts about going to the market with investment properties. Only two office sales in excess of 25,000 square feet were recorded in the 1st Quarter of 2018 and both were Class C buildings in the Northwest and Edmond Submarkets. Those buildings, totaling 85,714 square feet sold for $4,900,000 or $57.17 per square foot. Read more here.
Paul Ravencraft, George Williams, CCIM, Phillip Mazaheri, CCIM
Retail Investment Specialists
Institutional Investors Continue to Divest of Oklahoma Retail Five years ago, most of Oklahoma's premium retail properties were in the hands of national institutional investors. Most have since sold their Oklahoma holdings, a trend that continued in the first quarter of 2018 with the sale of Quail Springs Marketplace and Bryant Square Shopping Center by JP Morgan and Inventrust, respectively. Many were originally drawn to this market because they could buy-in at a higher capitalization rate than their traditional markets and therefore generate higher returns. Their exodus has been driven by a number of factors. Read more here.
Industrial
Danny Rivera, Mark Patton, Bob Puckett, Chris Roberts
Industrial Investment Specialists
Industrial Market Outpaces 2017 Opening Quarter
The First Quarter of 2018 is above par for the industrial market as compared with the 1st quarter of 2017. Overall there were 17 industrial transactions containing 644,471 square feet. The market-wide average price per square foot in the 1st quarter was $41.19. Seventeen sales transactions generated $26,548,499 of total dollar volume.
Read more here. 
David Dirkschneider, Michael Massad
Multifamily Investment Specialists
Multifamily Market Sees Surge to Start 2018
In the first quarter of 2018, the Oklahoma City multifamily market continued its strong pace with robust sales volume surging 149% higher than the previous years first quarter. This is spurred by the local economy continuing to outperform the national economy, keeping unemployment low at only 3.6%, well below the national average for much of the recovery. If 2018 stayed on the same pace for every quarter, it would make 2018 the highest sales volume year in Oklahoma history. Read more here. |
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