Vandever East

The Offering. CBRE, Inc. is proud to present the opportunity to acquire Vandever East Shopping Center (“Vandever”), a 38,000 square foot, 97% leased, neighborhood shopping center located in the heart of Broken Arrow, Oklahoma.. Vandever East Shopping Center is a neighborhood center located in the central portion of Broken Arrow at the intersection of East 101st and Elm Street. Surrounded by residential neighborhoods, Vandever is well positioned on the north east corner. Elm street is a primary north / south arterial street connecting south and north Broken Arrow. Vandever is 1.5 miles north of the Creek Turnpike Expressway and is in close proximity to NSU College and some of Broken Arrow’s largest employers including FedEx and Flight Safety.. The intersection is home to such retailers as Ross Dress for Less, Dollar Store, Stage, Harbor Freight Tools, American Freight Furniture & Mattress., Property Summary, ???????Broken Arrow Retail Market. • The Broken Arrow retail market continues to show signs of strength in 2019 and is slated for further growth in 2020 and beyond.. o Retailers at the state and national level are attracted to Broken Arrow due to the population growth seen in the city in the last decade. According to the Broken Arrow Chamber of Commerce, the trade area population for the city is equal to the population of the rest of Tulsa’s suburbs combined. This resulted in over $1.5 billion in taxable goods in 2018.. o According to a Broken Arrow economic development study released in 2019, the Broken Arrow primary trade area consists of over 160,000 potential customers resulting in a total purchasing power of nearly $8.5 billion.. • Despite the changing dynamics of the retail industry, the occupancy levels in Broken Arrow have been kept afloat by a wave of non-traditional tenants. Tenants such as gymnasiums and similar healthcare-oriented retailers have buoyed vacancies by taking up multi-tenant space that had been previously vacated by big box retailers.. o The occupancy rate for the Broken Arrow retail market was 92.2% in October 2019.. o There has been a slight increase in asking rents since 2019 began, with average rates falling between a range of $10.25 – $11.00 per sq. ft.. • Recent Developments:. The Shops at Aspen Creek. ? 950,000 sq. ft. development of retail, medical, and multifamily space.. ? Mixed-use development that will include large anchor tenants as well as entertainment destinations.. ? New strip center anchored by Starbucks finished construction earlier in Summer 2019.. Stonewood Hills. ? Located on over 400 acres on the Broken Arrow Expressway, the site features Bass Pro Shops along with several hotels. Additional hotel development is underway, which will also feature a 35,000 sq. ft. conference center.. The Rose District. ? Mixed-use district featuring several entertainment and dining options. The district features a performing arts center and a variety of local retailers.. ? Over 70 plus locations to eat and shop., Photo Gallery