January 10th, 2012Retail Realty Rebounding in Oklahoma City, Real Estate Firm Says
Oklahoma City, OK – The lurching national economy kept stumbling into locally owned retailers in 2011, but this year should bring growth broad enough to give some relief from the lingering effects of the Great Recession.
That’s according to the year-end retail market summary from Price Edwards & Co. The firm forecast sales to rise at an increasing rate and retail rents to rise, putting landlords “in the best position they’ve been in the past four years to negotiate deals.”
Local stores, Price Edwards said, have benefited little from the improving economy since they haven’t been able to cut costs, spend more on advertising or take other steps that regional and national chain stores have.
The tide is starting to turn, the firm said. Not that some stores won’t close and that some won’t still see sluggish sales.
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