Edmond is a rapidly growing, affluent city. Its residents enjoy a quality of life that is both abundant and stimulating. Fueled by a population gain of over 31% in the 1990’s, Edmond is the strongest retail submarket in the Oklahoma City metropolitan area. Total taxable sales exceeded $1 billion in 2005, an increase of 43.2% over the previous five years.

Aduddell Development Group recently purchased a highly prized 10-acre site at the northwest corner of 2nd and Kelly, the 6th highest traffic count intersection in Edmond with over 48,000 cars per day. The site is the only remaining undeveloped tract of land at any of the 10 busiest intersections in Edmond.

ADG’s development strategy is a two-stage process. First, we intend to sell off approximately one-acre on the hard corner to a high-end user that will pay at or above market price. We will target users that will complement and add value to our development–a bank for instance verses a convenience store, which would detract from the project.

Stage two will be to develop a first-class retail and professional center attracting an array of local and national retailers as well as professional office users. The current site plan shows approximately 67,000 square feet of retail space, which includes two well located out parcels. The second story of the structure will house 32,000 square feet of office/service occupants. This style of retail and office development is proving to be very successful around the country. A similar development, Edmond Exchange, was recently completed at 33rd and Broadway, the city’s highest traffic count intersection.

Edmond Exchange has been highly successful commanding some of the highest rents in town and consistently high occupancy. Because we were able to negotiate a very favorable price on the land, and anticipate a further reduction in our site cost after selling the corner, we anticipate being able to market the project at the average rent price for Edmond, well below other new competitive developments. For all the reasons outlined in the Centennial Plaza summary regarding the future improvements to Kelly Avenue, we are confident that the 2nd & Kelly intersection will continue to be one of Edmond’s most important intersections for many years.

The site plan is extremely functional for both retail and office users. Parking is ample and has been strategically located to maximize efficiency and minimize walking distances for all tenants. ADG is excited to be able to offer this type of product to Edmond, continuing with our mission to add value to the community by allowing our clients to work, shop, and dine where they live.