Price Edwards & Company Announces
Second Quarter Market Sales Statistics
Office
Cordell Brown, CCIM, CIPS
Office Investment Specialist
Office Market Experiences Renovations to Buildings
The Oklahoma City office market saw solid activity in the 2nd quarter of the year. While the total number of transactions was somewhat lower than in previous quarters, the average price per square foot on high-quality assets is moving steadily north of $100 per square foot. It should also be noted that the sale of many Class “C” buildings is being purchased for renovation and upgrades which will move them to a higher level of value. Read more here.
Retail
Paul Ravencraft, George Williams, CCIM, Phillip Mazaheri, CCIM
Retail Investment Specialists
Institutional Investors Continue to Divest of Oklahoma Retail There were no sales of retail properties over 25,000 square feet in the second quarter, although a number of properties are being marketed such as Rockwell Plaza and Casady Square. Parkway in Norman is expected to be marketed later in the year. And, there are a few off-the-market deals that could happen. Yet, overall activity remains slow compared to historic levels. Read more here.
Industrial
Danny Rivera, Mark Patton, Bob Puckett, Chris Roberts
Industrial Investment Specialists
Industrial Market Remaining Stable
The Second Quarter of 2018 is continuing on an upward trajectory for the industrial market as compared with the 1st quarter of 2018. Overall there were 21 industrial transactions containing 1,081,302 square feet. The market-wide average price per square foot in the 2nd quarter was $44.99. Twenty-one sales transactions generated $48,651,442 of total dollar volume. Read more here.
Multifamily
David Dirkschneider, Michael Massad
Multifamily Investment Specialists
Multifamily Market Experiences Strong Quarter
In the second quarter of 2018, the Oklahoma City multifamily market experienced another strong quarter in terms of overall sales. Thirteen properties consisting of twenty-five units or more traded for a total sales volume of just under one hundred million dollars. Although it represents a decline in 29% from the previous quarter's total units, the previous quarter was the second all-time highest quarter for total units sold. Down at 2,183 units, the second quarter of this year still comes in at the eighth highest total units sold with an average price of just over $45,000 per unit and the tenth consecutive quarter to have over one thousand units sold. Read more here. |
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