The unemployment rate for Oklahoma City remains well-below the historical average, ending Q1 2019 with an unemployment rate of 3.0%, according to the Bureau of Labor Statistics.
Occupancies remained largely flat for Q1 2019, ending the quarter at 92.7%. Non-traditional retail tenants continue buoy occupancy rates in Oklahoma City while traditional retail tenants right-size their inventories and supply chains.
The Oklahoma City retail market logged an investment sales volume of $24.3 million during Q1 2019. One of the more notable transactions was the Casady Square Shopping Center, which sold for $9.6 million in January.
National trends are playing out in similar fashion in Oklahoma City, as mixed-use retail developments in growing suburban areas continue to gather interest. Chisolm Creek continues to add both national and local retailers, with several new developments expected to be announced throughout the year.