Tenants, anyone?

You wanna get rich? Buy yourself a building in Bricktown, and your future, so it’s said, is made.

“Good luck with that,” says Steve Lackmeyer:

The Bricktown Canal is littered with empty space. That space hasn’t gone empty due to a lack of interest. Instead, the owners decided a decade ago that they can demand $20 to $25 a square foot in rent with no finish out. And so you have everything frozen in place as if it’s 1999. The owners willing to make deals for canal level space have tenants on the canal. Those who were demanding $20 or more per square foot for empty space still have empty space.

If Bricktown were the only game in town, this strategy might make some sort of sense. But it’s not: there’s development all over the city center these days. Admittedly, there’s nothing like the canal in, say, Automobile Alley; but the Alley is filling spaces while Bricktown storefronts go begging. And things are going to be even tougher in Bricktown once I-40 is moved and the Core to Shore revival begins in earnest. If you were planning on getting rich, it’s time you did something about it.







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