South Remains Ahead in Construction Backlog

Associated Builders and Contractors recently released a report indicating that, though its backlog has declined on a year-over-year basis, the South remains the construction industry’s healthiest region.
ABC’s inaugural Construction Backlog Indicator is a forward-looking measurement reflecting the amount of work that companies are contracted to complete in the future.
A high backlog value (measured in months) indicates abundant work is due to begin in the near term. As of May 2009, the most recent available measure, the South, of which Oklahoma is a part, held a backlog of 7.51 months. While low compared to the region’s Nov. 2008 backlog of 8.73 months, that number is still excellent relative to the rest of the nation, the worst performing region of which, the Northeast, has a backlog of only 5.32 months. The West is up 0.18 to 6.75 months total, and the Middle States are up 0.47 to 5.62 months.
ABC Chief Economist Anirban Basu attributed the South’s recent decline in numbers to shrinking markets for office space.
“These areas are home to a significant share of the rapidly declining white-collar sectors, including financial and professional services,” Basu said. “In contrast, the Middle States, which depend more on commodities and energy supply, have been considerably more stable.”
It should be noted that Oklahoma enjoys the same benefits of the energy supply industry as the Middle States. State-by-state backlogs were not available in the report.
Nationwide, the construction industry is getting a much-needed shot in the arm in the form of infrastructure contracts. Average backlog in the infrastructure category jumped from 6.6 months in April to 8.6 months in May.
“This jump in contractual activity in the infrastructure segment may be credited to the stimulus package, a potential sign that federal funds are beginning to flow,” Basu said. “This implies that the infrastructure segment is poised to experience a significant increase in value of construction put in place over the next several months.”
Associated Builders and Contractors is a national association with 79 chapters representing 25,000 merit shop construction and construction-related firms with two million employees.
Transactions
CVS 75782 Ok LLC purchased 1.71 acres on the SW corner of 121st and Elm in Broken Arrow for $1,000,000. The seller was Ray H. Wilburn of Tulsa. Richard Monaghan, CCIM and Ben Ganzkow with CB Richard Ellis/Oklahoma represented the buyer and Marco Placencia with Equitas Realty Advisors represented the seller.
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Terry Walters purchased 1.32 acres at 17650 E. Admiral Place N. for $90,000. The seller was William D. Covert Trust of Catoosa. Dwayne Flynn, SIOR, CCIM, Bill Mizener, SIOR and Shawna Hale with CB Richard Ellis/Oklahoma handled the negotiations.
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MNL Properties purchased the former Bill White Properties of 35,732 SF at Fourth to Fifth St., Elgin to Frankfort for $1,071,000. The sellers were Bill and Nancy White of Tulsa. Tony Aaronson and Brian Hunt, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Kennon and Jones LLC purchased 18,460 SF at 10724 E. 11th St. for $445,000. The sellers were Stephen and Janet Lee of Tulsa. Tony Aaronson and Tommy Woods with CB Richard Ellis/Oklahoma handled the negotiations.
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TLFG Properties LLC purchased a 2,232-SF building at 2508 E. 21st St. in Inverness Park for $420,000 ($188.17/PSF). The seller was Crow Creek Investments, LLC. Tanda Francis with Beacon Commercial Group, Ltd. was the broker in this transaction.
Leases
Tatermash Oilcloth leased 1038 SF at Village South, 10115 S. Sheridan Road. The landlord is Village South Center LLC. Tulio Remington of Remington Commercial Properties LLC represented the tenant, and George O’Connor of Mid America Realty represented the landlord.
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Colonial Finance leased 1200 SF at 3700 Center, 3701 S. Harvard. The landlord is Winslow Investments LLC. Tulio Remington of Remington Commercial Properties LLC handled the transaction.
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Wells Fargo Bank, NA leased 1,517 SF at Kenosha Commercial Center, 4650 W. Kenosha, Broken Arrow. Tanda Francis with Beacon Commercial Group Ltd. represented the landlord and Cricket Kingham with Tooman Partners represented the tenant.
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APEX Medical LLC leased 1,250 SF at South Lakes Office Park, 9222 S. Elwood, Jenks. Tanda Francis with Beacon Commercial Group Ltd. was broker in this transaction.
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Old Tyme Quality Construction Services Inc. renewed its lease for 6,522 SF at Maxim Place, 6713 E. 41st St. Jim Brown, CCIM and Stacie Stuart with CB Richard Ellis/Oklahoma handled the negotiations.
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The Refinery leased 2,500 SF at the former Mervyn’s, 6632 S. Memorial. Mark Rooney and Mendy Parish, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Interstate Construction Company expanded its lease for 1,513 SF at IBC Tower, 2250 E. 73rd St. Mary Martin, SIOR, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Board of Regents of the University of Oklahoma leased 1,160 SF at Pines Office Building, 6130 E. 32nd St. Steve Baker, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Leta J. Bell and Maya Luna Christobel leased 773 SF at Crow Creek Office Building, 3220 S. Peoria. Tanda Francis with Beacon Commercial Group Ltd. represented the landlord and Linden Fore with McGraw Commercial Properties represented the tenant.
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L-3 Communications Corporation leased 59,865 SF at 3724 W. Vancouver in Broken Arrow. Jamie Hill, SIOR, CCIM and David Glasgow, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Wurth Service Supply Inc. renewed its lease for 18,462 SF at Braniff Park West, 10504 E. Pine. Tom O’Brien, SIOR, CCIM, Matt Klimisch, SIOR, CCIM and David Glasgow, CCIM with CB Richard Ellis/Oklahoma represented the landlord and Rob Stephens with Commercial Oklahoma represented the tenant.
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Murphy Sanitary Supply LLC leased 15,000 SF at Metro Park East IV, 13105 E. 61st St. Matt Klimisch, SIOR, CCIM, Tom O’Brien, SIOR, CCIM and David Glasgow, CCIM with CB Richard Ellis/Oklahoma represented the landlord and Shawna Hale, Dwayne Flynn, SIOR, CCIM and Bill Mizener, SIOR with CB Richard Ellis/Oklahoma represented the tenant.
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Sutton Packaging LLC renewed its lease for 15,000 SF at Metro Park East IV, 13105 E. 61st St. Tom O’Brien, SIOR, CCIM, Matt Klimisch, SIOR, CCIM and David Glasgow, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Linn Star Transfer Inc. leased 4,786 SF at Pine Street Industrial Park, 1227 N. 105th East Ave. Dwayne Flynn, SIOR, CCIM, Bill Mizener, SIOR and Shawna Hale with CB Richard Ellis/Oklahoma represented the landlord and Jeff Hilst with Watermark Properties LLC represented the tenant.
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Spectrum Paint Company Inc. leased 3,850 SF at Brookside Center, 4520 – 4522 S. Peoria. Paul Williams, CCIM and Jamie Hill, SIOR, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Blind Ambitions leased 3,200 SF at Mingo 55, 5556 S. Mingo. Paul Williams, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Performance Auto Care Inc. renewed and expanded its lease for 4,270 SF at 56th Street Warehouse, 11119 E. 56th St. Tom O’Brien, SIOR, CCIM, Matt Klimisch, SIOR, CCIM and David Glasgow, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Tulsa Automatic Music Company renewed its lease for 2,520 SF at Rosewood Shopping Center, 1060 S. Mingo Road. Paul Williams, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Economy Pharmacy Inc. leased 2,200 SF at Tulsa Industrial Investments, 9402 E. 55th Place. Jim Brown, CCIM and Stacie Stuart with CB Richard Ellis/Oklahoma handled the negotiations.
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Randy Lopp renewed his lease for 1,617 SF at Southern Hills Plaza, 6218 S. Lewis. Steve Baker, CCIM and Angela West, SIOR with CB Richard Ellis/Oklahoma handled the negotiations.
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La Hacienda renewed its lease for 1,675 SF at Brookside Center, 4518 S. Peoria. Paul Williams, CCIM with CB Richard Ellis/Oklahoma handled the negotiations.
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Girls Inc. of Tulsa County leased 580 SF at The Pines Office Building, 6130 E. 32nd St. Steve Baker, CCIM and Angela West, SIOR with CB Richard Ellis/Oklahoma handled the negotiations.
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Defender Securities Company leased 313 SF at Westwood Plaza, 6539 E. 31st St. Steve Baker, CCIM and Angela West, SIOR with CB Richard Ellis/Oklahoma handled the negotiations.
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ORS Nasco leased 12,887 SF at the Pawnee building of TechRidge Office Park of Tulsa. ORS is a wholesale industrial supply company. Marco Placencia, CCIM, SIOR of Equitas Realty Advisors LLC represented ORS and Patrick Coates, CCIM of Coates & Associates represented TechRidge.
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Carter Healthcare leased 6,790 SF at Delaware Center, 2846 E. 101st St. Retail Center LLC is the landlord. Marco Placencia, CCIM, SIOR of Equitas Realty Advisors LLC handled the lease transaction.



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