Oklahoma real estate notes

Firm markets space in Oklahoma City's Chase Tower
Published: May 26, 2012

About space

Firm markets space in tower

Sperry Van Ness/William T. Strange & Associates has landed the assignment of leasing space in Chase Tower, also known as Cotter Ranch Tower, 100 N Broadway Ave. downtown. The Class A, 36-story, 540,605-square-foot skyscraper has 225,000 square feet for lease now that Devon Energy Corp. is moving into its new corporate headquarters at 333 W Sheridan Ave. Office brokers Blake Renegar and Joe Kokojan are marketing the space, Strange said in a tweet. Typical floors have about 14,500 square feet of leasable space, according to owner Cotter Cos. in San Antonio, Texas. The Petroleum Club, which occupies the top three floors, is the building's best-known tenant.

SAIC lands contract

Science Applications International Corp. said its wholly owned subsidiary SAIC Energy, Environment & Infrastructure LLC was awarded a prime contract by the U.S. Army Corps of Engineers Mobile District to provide architectural and engineering services for Joint Special Operations University at MacDill Air Force Base, Tampa, Fla. The design work will be performed primarily by SAIC's Oklahoma City office, formerly Benham Cos. Ron Reid is project manager. SAIC is based in McLean, Va.

Home prices increase in city

Santa Ana, Calif.-based CoreLogic said that its March Home Price Index showed Oklahoma City home prices, including distressed sales, increased 2 percent in March compared with March 2011. Excluding distressed sales, year-over-year prices increased 2.6 percent. Nationally, home prices, including distressed sales, declined year over year 0.6 percent; excluding distressed sales, month-over-month prices increased for the third month in a row, by 0.9 percent. Distressed sales include short sales and bank-owned, also called real estate owned — REO — transactions. “This spring the housing market is responding to an improving balance between real estate supply and demand which is causing stabilization in house prices,” said Mark Fleming, chief economist for CoreLogic. “Although this has been the case in each of the last two years, the difference this year is that stabilization is occurring without the support of tax credits and in spite of a declining share of REO sales.”

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