**SOLD OUT** Retail in 2017-2018: “What’s Really Going On?”
Retail is in a period of transition and turbulence. There are a lot of tenants expanding; much of the space that has been vacated to date has been backfilled. Rents, particularly for new space, are at all-time highs. However, the good news has a dim backdrop. Over 6,000 stores closed so far nationally in 2017 and more on the way. Negligible income growth locally. Local tenant struggles. Fierce competition from internet retailers.
So, where does that leave us? Are we in a normal cycle or is it the end of retail as we know it? The truth, as it often does, lies in between.
ULI Oklahoma is pleased to host Price Edwards & Company’s Jim Parrack and Allison Barta Bailey as they help us navigate the current retail landscape. Parrack and Bailey will share their Market Summary Report for 2017 as well as cover emerging trends moving into 2018.
Jim Parrack joined Price Edwards & Company in 2007 and heads the firm’s Retail Division. The division encompasses management and brokerage activities for over 50 shopping centers in Oklahoma and North Texas. Prior to joining Price Edwards, Jim ran the operations of Precor Realty Advisors, Inc., an Oklahoma City based real estate company with extensive experience in the development, property management, and leasing of historic properties, tax credit properties, and distressed property renovation and turnaround. Developments included the Garage Loft Apartments, the Hudson Essex Loft Office redevelopment, & 701 Broadway.
Allison Barta Bailey joined Price Edwards & Company in 2016 after 6 years consulting for independent retailers and real estate developers. Allison works primarily on retail & office spaces in the urban core and walkable commercial districts. She is a City of OKC Arts Commissioner, a member of ULI and CREC and is CNU-Accredited.