Blog Post

A YEAR IN REVIEW: GRAYSTONE PROPERTIES

Sep 18, 2019
Year in Review
Graystone Properties had another great year in 2017, as shown in our 2017 highlights below. We celebrated Graystone’s twenty-year anniversary this past March, and our second full year in the commercial real estate sector.

2017 Highlights
2017 has been a challenging but rewarding year for us at Graystone Properties. The extensive renovation at Westbrook Plaza was completed in late Spring. The remodel gives the plaza a modern flair, while increasing a sense of business professionalism and street appeal. At Kelley Pointe and the Hartford Apartments, the parking lots were repaired, resealed and striped with safety in mind this past fall.

The Hartford Apartments leasing was a success last year. Despite a sluggish oil market and apartment developers adding more complexes to the market, the Hartford Apartments had a strong 2017 with an occupancy rate of 86%. In 2018, we hope to continue that success and have an occupancy rate above 93%.

In 2017, we added preventative maintenance services for heating and air units for all of our tenants, provided by Air Technologies. At Lakehurst, we saved money for our tenants by providing trash service in one rolled-up, competitively priced contract for all of our Lakehurst businesses. At Summit Pointe, we launched the Plaza’s very own website, www.summitpointeok.com. The website is intended to showcase the businesses at Summit, while relaying property news and available suites for lease.

Looking Forward
Although 2017 was a great year, we are excited to see what is in store for our company for 2018. We hope to see a resurgence of the office market across the metro and to continue the uptick in retail leasing. We also expect to continue our value-add strategy for our tenants this year.

We are happy to announce two businesses that are new to our properties and new to the state of Oklahoma. This spring we will see the opening of 1st Choice Pharmacy, www.1stChoicePharma.com, at Westbrook Plaza in Edmond. The 600 square foot pharmacy can serve your every need with a helpful team behind the counter. The second is a retail shop based in Kansas City, Missouri. The CBD Store, www.theCBDstores.com, will open very soon at Summit Pointe Plaza. They offer a wide variety of oil products for both people and pets.

Adding value with our commercial tenants is a goal we are always focused on. In 2018, we expect to roll out additional property websites with the same goals as Summit. We plan to add additional parking at Lakehurst and fully utilize the sign monument at Summit Pointe. At Kelley Pointe, we plan to give the monument sign a fresh, new look, making it easier for patients and clients to find OU Medicine’s Breast Imaging of Oklahoma and Massey Financial Services.

Our goals for 2018 are to maintain tenant satisfaction, fill all of our commercial properties through competitive leasing options, and acquire new commercial properties.

 
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18 Sep, 2019
Oklahoma may be known for their livestock, oil, and a Broadway musical, but the state’s capital city might be gaining a new reputation. According to Small Business Trends , Oklahoma City is one of the best cities for serial entrepreneurs. Small Business Trends looked across the country to find cities where you can find large concentrations of serial entrepreneurs— those who have started three or more businesses prior to the one they run today. By weighing factors like “the percentage of serial entrepreneurs to the overall population in the metropolitan areas of the United States with over 50,000 people… industry clusters, lifestyle, infrastructure, costs and workforce availability,” OKC climbed all the way up to #4 for serial entrepreneurs! Oklahoma City’s ranking sits behind Salt Lake City, Miami and Denver, while beating out Dallas, Tampa, Raleigh, Orlando, Seattle and Portland. Oklahoma City has 2,422 serial entrepreneurs, which makes up .18% of the population. If you’re an entrepreneur looking for a professional office, check out our availability at Wilshire Gardens Office Park , or jump on our waiting list for Smartsuite Executive Offices!
18 Sep, 2019
On July 31st, Graystone Properties added the Wilshire Gardens Office Park, located at 425 W Wilshire Blvd., to our office portfolio. This property will be a key component to our future growth and we are excited to engage with our new tenants. Wilshire Gardens is a 4 building office park located between Nichols Hills and Broadway Extension on Wilshire Boulevard. From individual executive offices to large company suites, Wilshire Gardens is capable of hosting companies of multiple sizes. Graystone Properties plans to update the building’s facade, landscaping, office common areas and office suites. Nick Gray with Kevo Commercial represented Graystone Properties, while Amy Dunn with CBRE represented the seller, Rodger & Rodgers Living Trust. The property was purchased at $1,749,000 and was closed at The Oklahoma City Abstract & Title Company. More information about Wilshire Gardens can be found at www.wilshiregardensokc.com.
18 Sep, 2019
If you asked everyone you know which large cities are the best for startups, you would probably hear plenty of mentions of San Francisco, Boston, Seattle and New York City. Despite those cities’ reputation as hubs for innovation and tech startups, those cities didn’t make the top 30, according to a new report from the personal finance website, WalletHub. WalletHub analyzed 182 U.S. cities across 19 key metrics, such as cost of living, office space affordability, startups survival rates, and quantity of investors. So, which city could possibly be No. 1? Oklahoma City took the top spot for the second year in a row. From the rise of coworking spaces to the resources provided by our chamber of commerce, it’s no surprise to see our startup community thriving.
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