State foreclosures up 18.7 percent in July

But the rates were 11 percent below the same period last year

As Reported in the Tulsa World

One home out of every 1,056 faced foreclosure in the state, reported real estate data service RealtyTrac. That figure was 18.7 percent above the previous month, but 11 percent below the same period last year.

The state’s rate gives it the 35th-highest foreclosure rate in the nation, according to RealtyTrac.

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::SOLD:: Self Storage For Sale, Tulsa Area

This just in… SOLD

Self Storage Investment Property is located on 23,011 sq. ft. of land and contains 88 units
presently leased @ 95%. Built in 2000. No on site management required. Includes all furniture and computer equipment.
2008 net income $58,800.

Priced at $700,000.
8.4% cap based on asking price.

(Prop #DR-2999)

Contact us for more information

Oneok Plaza Sells for $48 Million today

Oneok Plaza Sells for $92.80 per square foot, a reported $48,000,000.
Oneok Inc. announced Today that it has purchased Oneok Plaza, it’s current corporate headquarters.  Oneok had about 52% of the building under lease with Southwestern Associates and RMZ Corp.

the 17-story building at 100 W. Fifth St. in downtown Tulsa that houses its corporate headquarters, for $48 million.

The Tulsa World reports… “With this investment, we are reinforcing our strong commitment to Tulsa and downtown,” said John W. Gibson, CEO of Oneok. “We’ve been an Oklahoma company for more than a century and a resident at this location since 1984. We look forward to our continuing role in downtown Tulsa’s bright future.”

More about Oneok Plaza

You should see the lobby!

CityPlex Towers has made a significant improvement in their lobby and parking. Having completed two leases with them in the last few months with them, I’m extremely happy with the complex. The management and leasing is stellar and the improvements they are making has increased it’s position as a key office complex in the Tulsa market.

The new leasing and management team of Larry Hollingsworth, who previously managed Warren Place and Mike Predovic former leasing director for Williams companies have given CityPlex a huge boost of expertise.

FYI: The two recent transactions we have completed with CityPlex Towers include Morris-Griffin Corporation from Washington DC, taking 13,388 nrsf and Core Financial Group who has signed a lease for 3,163 nrsf.

I am recommending CityPlex as a very strong choice if you are looking for office space with expansion availability.

Feel free to contact me if you would like to take a tour.

Concerns Increase in Hot Markets

The Pierce Building

It crossed my desk that the Pierce Building has just recently been listed.

Sale Price: $1,300,000
Property Status: Existing
Gross Building Area (GBA) 16,100 SF
Building Size (RSF): 13,329 SF
Total Land Size: 14,000 SF
Sale Terms: Cash to Seller
Zoning: CBD – Central Business District

The Pierce Building is a very attractive building well located just to the east of the One Technology Building, the possible new location of City Hall. The property used to be owned by a couple of friends of mine during the previous oil boom.

Contact me to find out more

Car wash for sale

Just submitted by a broker:

Outstanding Property is an established urban area.
8 Self-Wash Bays
2 Automatic Brushless Bays
7 Vacuum Stalls

7919 East 101st Street
Tulsa, Oklahoma

$2,250,000

Contact me for more information on this property

Retail center for sale

Just submitted by a broker:

Well located at 7106 S. Mingo, Wembley Station offers approximately 51,514 square feet on 4.6 acres of land. 5 single story buildings. $5.8 mil. Well maintained property in the heart of Tulsa’s fastest growing area.

Contact me for more information

Mid town office building for sale

Just submitted by a broker:

Terrific mid-town office building for sale with approximately 13,175 R/S/F. One story structure with suites ranging in size from 788 to 4,616 square feet. The building is presently 100% occupied but does offer flexibility for a prospective owner occupant in some suites in 2008.
Superbly located on South Harvard. Asking price $1.5 mil.

Contact me for more info

Tulsa’s Foreclosures Decrease

The Tulsa World reports that “Tulsa and Oklahoma City were two of only 18 cities to post decreases, according to a new report.

Both cities were two of only 18 in the survey that posted decreases in the number of foreclosures, said James Saccacio, CEO of RealtyTrac, in a release.
Tulsa World Article