Tweet these interesting realty news items
Google “interesting” AND “synonym” and up pops a list that includes “bloggable.” Interesting. Absorbing, engrossing, fascinating, riveting, gripping, compelling, compulsive, captivating, engaging, enthralling, appealing, attractive, amusing, entertaining, stimulating, thoughtprovoking, diverting, and intriguing even. Tweetable then surely. With that, choose your own adjectives for these tidbits.
But the first one is “scary.”
Hellscape?
The following statement was released by Nancy Somerville, executive vice president and CEO of the American Society of Landscape Architects, after Monday’s report by the United Nations Intergovernmental Panel on Climate Change:
“Already, the dire effects of climate change are visible in every corner of the globe. But the startling new report of the U.N. Intergovernmental Panel on Climate Change makes clear that if significant actions aren’t taken immediately, the world could see a rise in atmospheric temperatures of 1.5 degrees Celsius by 2040, triggering catastrophic effects worldwide.
“Landscape architects work at the intersection of the built and natural environments and have embraced their responsibility to design and plan healthy, climate-smart and resilient communities. The ominous U.N. report further reinforces the need for all those responsible for shaping human environments to urgently redouble their efforts to both mitigate climate effects and to ensure the resilience of communities already being threatened by the consequences of inaction.”
The American Society of Landscape Architects issued its own report last year, “Smart Policies for a Changing Climate,” with design and planning solutions and public policy suggestions. Get it here: tinyurl.com/aslaclimate
Meanwhile, markets
CBRE MarketViews observations looking to the rest of the year for retail and office properties include these highlights for Oklahoma City.
Retail:
• Total retail sales are estimated to reach $15.4 billion in 2018.
• Retail spending is expected to grow at an annual rate of 3.4 percent over the next five years.
• Job growth has accelerated sharply over the past year, reaching its fastest pace since early 2015.
• Negative net absorption dropped the occupancy rate to 91.5 percent, nonetheless, average rental rates increased to $15.16 per square foot at midyear.
Office:
• “Office-using employment experienced notable growth in Q2 2018, with professional and business services registering a robust 6.7-percent year-overyear employment growth in June 2018, according to (the U.S. Bureau of Labor Statistics).
• “Excess office space from the energy bust still has effect in 2018 as two energy-anchored office buildings convert from single tenant owner-occupied assets to multitenant inventory.”
Housing heads-up
The Oklahoma City Metro Association of Realtors and other Realtor groups across the country sent this out this week:
“Some economy observers are pointing to 2018 as the final period in a long string of sentences touting several happy years of buyer demand and sales excitement for the housing industry. Although residential real estate should continue along a mostly positive line for the rest of the year, rising prices and interest rates coupled with salary stagnation and a generational trend toward home purchase delay or even disinterest could create an environment of declining sales.”
TRANSACTIONS
Wiggin Properties LLC reports these real state transactions:
• Insight Books Inc. leased 2,910 square feet of office space at 5909 NW Expressway. Julie Kriegel represented the landlord, Signature Place Investments.
• Dr. Victoria Mills leased 2,879 square feet of medical office space at Northwest Medical Center, 3330 NW
56. Kriegel represented the landlord, Healthcare Realty Services Inc. Cory Mazza with Carr Healthcare Realty represented the tenant.
• Pharmore Specialty Pharmacies leased 2,369 square feet of medical office space at Northwest Medical Center. Kriegel represented the landlord, OKC Northwest Medical LLC.
• Walton Property Services leased 1,667 square feet of office space at 5909 Northwest Expressway. Kriegel represented the landlord, Signature Place Investments.
• Joe Stansbury, CPA, leased 1,111 square feet of office
space at 5909 NW Expressway. Kriegel represented the landlord, Signature Place Investments.
CBRE reports these transactions:
• Waffle House Inc. paid $270,000 to BMW Investments LLC for 0.55 acre on the southeast corner of Interstate 40 and Mustang Road, Yukon. Ryan Storer, Kendra Roberts, Mark W. Inman, and Stuart Graham with CBRE represented the seller.
• Delaney Property Group paid $307,500 to Hanumaji Hospitality Inc. for 0.66 acre at 1337 SE 44. Storer, Inman, Graham and Roberts represented the buyer.
• TW Commercial Investment Groups LLC, doing business as Golden Fusion, leased 7,600 square feet of retail space at Shoppes at Riverwalk South, 2713 South Interstate 35 Service Road, Moore, from Riverwalk OKC LLC. Storer, Inman, Graham and Roberts with CBRE represented the landlord. Gayla Artman with Equity Commercial Realty in Norman represented the tenant.