Newspaper article THE JOURNAL RECORD

OKC Ranks 4th Strongest for Warehouse/Distribution Centers

Newspaper article THE JOURNAL RECORD

OKC Ranks 4th Strongest for Warehouse/Distribution Centers

Article excerpt

Oklahoma City is the fourth strongest warehouse/distribution center in the nation, according to a real estate forecast by Landauer Real Estate Counselors.

However, the Sooner State's slumping economy through the last five years continues to hamper its office and retail markets, the report said.

In its 1990 Real Estate Market Forecast, the Houston consultant firm ranked Oklahoma City fourth with a warehouse/distribution "power rating" of about 700, putting it just behind Dallas, Seattle and Miami, Fla., and ahead of such trade centers as Phoenix, Atlanta, Chicago and Houston.

"Virtually every market in the United States lies within an overnight trucking trip from Oklahoma City," said the report. "Some 60 percent of all of the local industrial absorption is captured by warehousing properties, and shortages are appearing in the larger facility categories.

"We cited Oklahoma City as a potential sleeper in last year's Landauer Forecast; our power rating analysis for 1990 ratified that choice."

In its office market "momentum index," however, Oklahoma City drew an 82 rating, the fourth lowest of the 24 cities surveyed. Only Miami, Kansas City and St. Louis drew smaller numbers.

"Higher than average vacancy rates and moderate to slow office employment growth" continue to suppress Oklahoma City and similar markets, the report said. Oklahoma City's estimated office employment was projected to grow by 5.5 percent from 1989 to 1994.

"Downtown vacancy rates in excess of 20 percent still afflict Austin, Dallas, San Antonio, Denver and Oklahoma City," said the report. "Similar oversupplied conditions distress the principal cities in Arizona and New Mexico.". .

- Dawn Davis of the Nichols Hills office of The Prudential Properties of Oklahoma has surpassed $16 million in closed transactions in 1989.

Davis, who started her real estate career in 1983, is the top agent in the Sooner State for Prudential, formerly Merrill Lynch Realty. …

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