Tulsa investors (Commerce, Francis: sales, real estate market, buying)

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Jan 2006 news story

Tulsa's stable steady economic growth, along with, relatively inexpensive real estate prices are very attractive to investors.

The purchase of 20 downtown office buildings by two national entrepreneurs (San Francisco based Maurice Kanbar and his New York partner, Henry Kaufman ) is part of a larger trend toward greater outside investment in the Tulsa Real Estate Market. The twobegan buying properties in the summer of 2005 and currently have spent $108 million to obtain one-third of the commercial buildings in the central business district.

Tulsa's real estate prices are much lower than they are in California. On the West Coast, investors are looking at downtown properties selling for $300 to $500 a square foot. In Tulsa, they can buy buildings for $30 to $50 a square foot.

A lot of people who are investing in properties have never been to Tulsa. While they don't know much about the city, the appeal is the assets here and their income potential.


The Chamber of Commerce is getting calls from across the nation in the past few months. Many are from real estate developers and investors.

Tulsa is adding jobs and is hard at work on improvements, such as the new arena that's part of the Vision 2025 sales tax package.

The Vision 2025 sales tax improvements and plans for further Arkansas River development also are adding to the buzz about the Tulsa market. There are $9.3 million in Vision 2025 funds earmarked for downtown residences.

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The cost of doing business in Tulsa is 20% below the national average.