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Long-term traffic advisory for downtown Oklahoma City: heavy

Report proves that downtown Oklahoma City is abuzz with activity.
by Richard Mize Published: November 10, 2012
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•  “The east side of Hudson closed from Kerr to Sheridan. Two southbound lanes are open.”

Space absorbed

Continental Resources Inc., of course, immediately backfilled Devon's old headquarters at 20 N Broadway and lots of other former Devon space was immediately absorbed, Grubb & Ellis said pointed out•  “Kerr closed between Robinson and Broadway for private downtown renovations.”

Alas, Grubb & Ellis reported: “At long last, the first of Devon's vacated space has hit the market. The 200,000-square-foot unit at Chase Tower (100 N Broadway Ave.) is the largest block of quality space downtown.” It's hiked downtown vacancy back up to 26 percent.

Not to worry, Grubb & Ellis said: “The Oklahoma City Chamber of Commerce routinely says that companies are interested in relocating to Oklahoma City but are deterred by the lack of available quality space. Devon's former space at Chase Tower will open up an opportunity for new tenants to move into Oklahoma City's central core.”

The bottom line: downtown vacancy back down to around 20 percent in a year; Class A rent rates firm to increasing; Class B rates steady.

Downtown Traffic Advisory for 2013? Just guessing here, but I'd say: Continued heavy.

by Richard Mize
Real Estate Editor
Real estate editor Richard Mize has edited The Oklahoman's weekly residential real estate section and covered housing, commercial real estate, construction, development, finance and related business since 1999. From 1989 to 1999, he worked...
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