New Retail Designs?

For many in Middle America, there seems to be a trend to the same ol' same ol' retail developments that keep popping up. Tan stucco exteriors and a few elevation changes with simple interiors for the most part sums up all the basic retail developments in the area. Not surprising, it's affordable, looks clean and is easy to attract tenants and shoppers.

However, there is a whole other world out there in retail architecture, so much so that there is an award for the best in retail architecture. It's called the SADI (Superior Achievement in Design and Imaging) Award. It recognizes outstanding achievement in creating beautiful and successful retail environments.

For more info on the article discussing the award and it's history, click here. 

To see the winners of this year's SADI Award, click here for 1st place, 2nd place & 3rd.

For expert advice on buying or selling commercial property, contact Neil Dailey of McGraw Commercial Properties for your next commercial real estate transaction. Direct line: 918-853-7337.

Rattled Retail

Today, another gloomy story about Office Depot is announced.  According to Bloomberg, Office Depot, Inc said it will close almost 10 percent of its North American stores and cut 2,200 jobs or 4.5 % of its workforce as the demand for business furniture has fallen during the US recession. On the bright-side, shares jumped 11 % on the news.

Office Depot currently operates 1275 stores in North America and this number will be reduced to 1163. New store openings next year will be limited to 20 stores, which will reduce capital spending and increase cash flows by $70 million.

For more information on the story, click here.

If you are looking to buy, sell or lease commercial property, please contact Neil T. Dailey of McGraw Commercial Properties for expert advice on your next transaction. Neil can be reached at 918-853-7337.

Going For The Green

In the latest Realtors Commercial Alliance (RCA) report, there is some astounding information on the growth of green buildings and the effect of commercial buildings on the environment. For example, the article states that buildings are a major contributor to climate change-emitting 39% of U.S. CO2 emissions (18% from commercial buildings), consuming 71% of the country's electricity, and producing 65% of its waste according to the U.S. Green Building Council (USGBC.)

Not only that, the emissions are expected to grow 1.8% over the next two decades.

In addition to some staggering statistics, there are a few eye opening quotes such as this one from Joseph Scarpa, a broker associate with Legend Properties who says, "Green is making a major push forward. If you're putting a property in the ground today that isn't green, it will be functionally obsolete before it's finished.

Here is a link to the article.

Check out these other organizations for more Green Initiatives:

Building Owners and Managers's Association, California Sustainability Alliance, Ecobroker, Energy Star, U.S. Green Buildings Council.

If you would like to talk about buying, selling or leasing commercial property, please contact Neil Dailey at McGraw Commercial Properties, 918-853-7337 or ndailey@mcgrawok.com.

New Hotel Planned in Tulsa

According to a report on CoStar.com today, Sunny Hotels, LLC acquired 4.4 acres at 807 W. 71st St. in Tulsa, OK from James Geisinger for $1.8 Million, or about $410,000 an acres. Click here for the full article.

For more news and information on Tulsa's commercial real estate market, contact Neil Dailey at McGraw Commercial Properties at 918-853-7337.

Commercial Real Estate Loan Portfolios holding up in weak economy

There has been a great article written about the commercial real estate loan portfolios held by banks and other lending institutions. In the midst of all the doom and gloom around the real estate industry, it's necessary to spotlight the good news so you are informed on all sides of the issues. Click here for a link to the article posted on CoStar today.

For more news and information on commercial real estate, or for general commercial real estate questions, call Neil Dailey of McGraw Commercial Properties at 918-853-7337.

Tulsa Tops The List

In accordance with the Greater Tulsa Association Of Realtors' recent promotion, "It's Good to be in Tulsa," the city has made the top 25 in several lists over the past year. Here is a list compiled by the Home Builders Association of Greater Tulsa:

#2 for home price appreciation (Money Magazine)
#5 Top Places to live (Relocate-America.com)
#8 Most Affordable Homes (Coldwell Banker)
#9 Best Bargain Real Estate Market (MSN)
#9 Most undervalued home market (Global Insight, National City Survey)
#12 Best Places to Build Personal Wealth (Salary.com)
#22 Top City for Jobs 2008 (Forbes)

For more commercial real estate news and information, contact Neil Dailey at McGraw Commercial Properties at 918-853-7337 or ndailey@mcgrawok.com

Industry Stats

The latest industry stats have been released for the national retail real estate sector. First quarter of 2008 shows a sales volume of only $49 billion, down $100 billion from Q1 of 2007 say Real Capital Analytics in Retail Traffic Magazine. Most blame the economy as the reason for the massive pullback by developers and retailers alike.

In regards to rental rates, New York stands alone as the highest per square foot rate for in-line retail space at $133/psf. Next highest is San Francisco at $70/psf. On the home front in Tulsa, average rates are hovering around $20/psf.

For more commercial real estate news and information, call Neil Dailey of McGraw Realtors at 918-853-7337 or email at ndailey@mcgrawok.com.