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01-18-2014, 01:23 AM
http://www.oklahoman.com/article/3924952?embargo=1
Not long ago, with big, empty, closed-down stores everywhere, Oklahoma City seemed to have a glut of vacant retail space.
The Great Recession took out many a national and regional chain: Circuit City, Ultimate Electronics, Harold's. Add a Big Lots here and an IGA there, plus strategic moves by Walmart and Target — it added up.
Now there's a shortage of space, at least a lack of “quality space,” according to CB Richard Ellis-Oklahoma.
“Expanding retailers, limited store closings, and virtually no new speculative construction creates an enviable environment for existing property owners,” the firm said in its 2013 year-end retail property market report. “Quality retail space is in high demand and options for new store operators are limited.”
The year ended with overall retail vacancy of 8.07 percent, down two-thirds of a percentage point since summer, according to CB Richard Ellis.
“As these developments fill, there are now rumblings of new ‘green field' projects across the metro area,” the firm said, referring to inaugural retail centers on open land. “The activity is unique in comparison to the construction that has occurred within the past 36 months.”
Walmart is looking again for all of its stores: Supercenter, Sam's and Neighborhood Market, CB Richard Ellis reported.
The firm also named the following as known to be looking to land or expand here, or believed to be: Sprouts Farmers Market, Natural Grocers, Whole Foods, Hobby Lobby, Main Event, Cabela's, Costco, Ashley Furniture, L.A. Fitness, Garden Ridge, Top Golf, Gander Mountain, Trader Joe's, Ruth's Chris Steak House and Pappas Restaurant.
Not long ago, with big, empty, closed-down stores everywhere, Oklahoma City seemed to have a glut of vacant retail space.
The Great Recession took out many a national and regional chain: Circuit City, Ultimate Electronics, Harold's. Add a Big Lots here and an IGA there, plus strategic moves by Walmart and Target — it added up.
Now there's a shortage of space, at least a lack of “quality space,” according to CB Richard Ellis-Oklahoma.
“Expanding retailers, limited store closings, and virtually no new speculative construction creates an enviable environment for existing property owners,” the firm said in its 2013 year-end retail property market report. “Quality retail space is in high demand and options for new store operators are limited.”
The year ended with overall retail vacancy of 8.07 percent, down two-thirds of a percentage point since summer, according to CB Richard Ellis.
“As these developments fill, there are now rumblings of new ‘green field' projects across the metro area,” the firm said, referring to inaugural retail centers on open land. “The activity is unique in comparison to the construction that has occurred within the past 36 months.”
Walmart is looking again for all of its stores: Supercenter, Sam's and Neighborhood Market, CB Richard Ellis reported.
The firm also named the following as known to be looking to land or expand here, or believed to be: Sprouts Farmers Market, Natural Grocers, Whole Foods, Hobby Lobby, Main Event, Cabela's, Costco, Ashley Furniture, L.A. Fitness, Garden Ridge, Top Golf, Gander Mountain, Trader Joe's, Ruth's Chris Steak House and Pappas Restaurant.