Tweet these in­ter­est­ing realty news items

The Oklahoman - - REAL ESTATE -

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.

Richard Mize rmize@ ok­la­homan.com

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