That is the sole reason I didn’t move in there back in 2014 and ended up in deep deuce instead. It’s always been that way and they were upfront about it.
That is the sole reason I didn’t move in there back in 2014 and ended up in deep deuce instead. It’s always been that way and they were upfront about it.
Bricktown is fairly well executed north of Reno. We Just need to keep seeing vacant lots and surface parking get replaced with buildings. We have seen some good examples of this recently along with some long blighted buildings coming back to life. The positive momentum in Bricktown has been constant over the years.
Yeah, they are a young couple from a smaller city in Oklahoma and the Steelyard was their first apartment in a bigger city. There were some things they forgot to ask about and just didn't notice when they signed up. The price and availability was the key. They don't mind living there, but they miss the Steelyard.
Driving by the other day it appeared that very little of the retail space was in use. Which makes the area seem kind of dead. I had hopes this would be a more active area.
Am I wrong in this perception? Did I just go by at a bad time?
I think Tiff's Treats is the only thing that has ever been [and is currently] in these spots.
It's priced at $23/sf, modified gross lease, which seems high. The BOK Tower parking garage has space for $13/sf, 500 N Walker has space for $16.80/sf, the property next to coney island is $19/sf. The new Harlow is $24/sf. I would also guess since that area of Bricktown isn't always active, it is about $5/sf too high. Maybe if they got a few tenants in and there was more foot traffic, it could be $23/sf. I am surprised they haven't dropped it to get more people in there as it has been empty for years now.
Buddy of mine told a story about his father in law's shopping center by Mercy Hospital. Loan from GE Capital had a minimum $ per foot he could charge tenants. Lull in economy made him unable to charge the minimum. Took several leases at reduced rent to lender, who refused to waive requirement. These reduced rates would have still let him pay the loan. Lender foreclosed and sold at a loss to buyer from Tulsa, who charged lower rents and filled the center.
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