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Oklahoma City Commercial Real Estate In-depth
The largest city in the state, Oklahoma City is located at the crossroads of I-35, I-40 and I-44 in the heart of Oklahoma. The second largest city in the continental U.S. based on geographical size, more than 1.1 million people call the Metro Oklahoma City area home. With more than a dozen communities surrounding it, Oklahoma Ci
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Oklahoma City Commercial Real Estate In-depth
The largest city in the state, Oklahoma City is located at the crossroads of I-35, I-40 and I-44 in the heart of Oklahoma. The second largest city in the continental U.S. based on geographical size, more than 1.1 million people call the Metro Oklahoma City area home. With more than a dozen communities surrounding it, Oklahoma City offers a diverse landscape of hip, urban culture and charming, old-fashioned neighborhoods for visitors and residents alike.
Oklahoma City's climate is mild, with four distinct seasons and an average temperature of 60F /15C. With more than 3,000 hours of sunshine per year, outdoor recreation and activities are plentiful in Oklahoma City.
Oklahoma City has an increasingly diverse economy. What was once a city known as a huge center of Government and Energy exploration has expanded and diversified to include sectors such as biotechnology, Information Technology, Services, Health Services, and Administration within the past 15 years. Several companies that use Oklahoma City commercial real estate, such as Devon Energy and Chesapeake Energy, rank among the largest Fortune 500 corporations in the nation.
According to the Oklahoma City Chamber of Commerce, the Oklahoma City Metropolitan Area's economic output grew by 33 percent between 2001 and 2005 due in large part to economic diversification. Oklahoma City commercial real estate also provides many incentives and tax benefits for new and existing companies. International Council of Shopping Centers named Oklahoma City one of the top 10 most promising markets for retail development in the United States. Oklahoma City commercial real estate already accounts for 40 percent of the state's total sales tax revenue.
Recognizing that retail is a critical ingredient to a community's economic and social health, the Greater Oklahoma City Chamber and the City of Oklahoma City are committed to redeveloping the neighborhoods in Oklahoma City that are underserved in terms of retail and services.
And, because Oklahoma City is the nation's 3rd largest city in land area, Oklahoma City commercial real estate also has the opportunity to strategically expand retail options by working with developers to accommodate "destination" retail - those unique, one-of-a-kind stores that attract visitors not only from local neighborhoods but from the entire region.
Oklahoma City commercial real estate provides business with a great environment. Oklahoma City has received a number of accolades including America’s Most Recession-Proof City due to falling unemployment, one of the strongest housing markets in the country and strong growth in agriculture, energy and manufacturing. Oklahoma City has also been ranked for being one of the Best Cities for Commuters, Cleanest Cities, and Best Cities for Jobs and many more.
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