OKC Retail Realty Sales

[ljbab728]

An interesting article by Richard Mize.
Retail realty sales in Oklahoma City at post-recession high in 2014 | NewsOK.com

More retail property sold here last year, by dollar volume, than any year since the start of the Great Recession: 23 sales for about $265 million, according to Price Edwards & Co.
“In our market, we’ve seen an influx of institutional investors, REITS (real estate investment trusts) that haven’t been here before that have bid on some of the bigger properties in town,” Parrack said. “If you look at the list of properties that have traded hands, there’s been a number of them that have had significant bidders, out-of-state, institutional-type money.”

[ljbab728]

But there is this to somewhat counter that.

http://www.oklahoman.com/article/538...0City%20retail

We interrupt our scheduled retail property market update with this commentary, a somber note on oil prices.

“Make no mistake: It will have an effect,” retail specialist Jim Parrack said of the collapse in oil prices to less than half the summertime peak of nearly $108 per barrel for West Texas Intermediate crude.
And now, the real estate news.

“What does that mean for retail? It probably means that some of the retailers, especially the national ones, that are looking now that aren’t here — the people like H&M, The Fresh Market, Restoration Hardware, REI (Recreational Equipment Inc.) — some of them will come. But some of them may get nervous about the oil prices and the effect on the economy,” Parrack said.

Retail developers also will pull back, he said.