Norman, Oklahoma, a city with a population of approximately 130,000, is an attractive location for businesses seeking to establish a strong presence in the region. With its diverse economy, driven by the University of Oklahoma, scientific research institutions, and private companies, Norman offers a unique blend of amenities, infrastructure, and education that make it an ideal place for businesses to thrive. The city's proximity to Oklahoma City, the state capital, and its transportation infrastructure, including Will Rogers World Airport and Max Westheimer Airport, provide easy access to national and international markets. Additionally, Norman's strong focus on higher education and research, with institutions like the University of Oklahoma and the National Weather Center, creates a highly skilled workforce, making it an attractive location for businesses seeking to tap into this talent pool.
For businesses looking to establish a retail presence in Norman, there are currently 29 retail spaces for lease, offering a range of options to suit different needs and budgets. With average annual rent per square foot of $18 USD, and spaces ranging in size from 315 square feet to 92,000 square feet, Norman provides a competitive and affordable environment for retail businesses. In addition to retail spaces, Norman also offers a range of other property types, including restaurants, medical offices, and office spaces, each with its own unique characteristics and advantages. For example, restaurants in Norman can take advantage of the city's vibrant arts and cultural scene, while medical offices can tap into the city's strong healthcare industry. Office spaces, meanwhile, can benefit from the city's highly skilled workforce and proximity to major transportation hubs.
What is the average cost per square foot for retail space in Norman?
In Norman, Oklahoma, the average annual rent per square foot for retail space is $18 USD.
How do anchor tenants affect surrounding retail space leases?
An anchor tenant, such as a large department store or grocery store, can have a significant impact on surrounding retail space leases in Norman, Oklahoma, as they often attract a high volume of foot traffic and can increase the desirability of nearby retail spaces, potentially leading to higher lease rates and lower vacancy rates, with the current average annual rent per square foot for retail space in Norman being $18 USD and the average size of available retail spaces being 3,980 square feet, with some spaces available up to 92,000 square feet.
