Glenpool, OK – Retail Outlook, 2011

Glenpool, OK – Retail Outlook, 2011
Prepared by: Crossroads Communications, LLC
Author: Mandy Vavrinak, Principal
Crossroads Communications, LLC specializes in independent retail trade area assessment,
opportunity identification, public process management and economic development consultation.
Overview:
Glenpool, southern suburb of Tulsa, continued to grow despite tough times in most of
the country. Itʼs not surprising, given that the Tulsa metro was named the #1 by
RelocateAmerica.com in 2009 and placed #6 in the 2010 list due to stable economic
conditions, broad business base and lower-than-average unemployment. Glenpool itself
has grown 16% over the past decade and is projected to grow another 8% by 2015.
Growth in the trade area for Glenpool is similar, with a 19% increase in population over
the past decade to 89,610 residents, and an additional 6% of growth projected by 2015.
Total retail sales in the City of Glenpool grew from $91 million in FY 2008 to nearly $125
million for FY 2009. Projected retail sales for FY 2010 are $136,955,251.00. In
residential construction, Glenpool added 884,547 sq ft of new residential homes in the
past three years. 2010 is on track to be a record-setting year for new residential
construction, with the first four months of 2010 outpacing any other year in the past
decade for housing starts. Benefitting from its location on US HWY 75, the more than
40,000 cars per day traveling through and from Tulsa's onward march southward,
Glenpool continues to attract new businesses and new residents.
Demographic Data:
Population in the Glenpool trade area grew more than 18% between 2000 and 2010,
with an additional six percent growth projected over 2010-2015. With a total population
for 2010 estimated to be 89,610, the estimated 2015 population will be 94,564 persons.
Unlike many communities, Glenpool is retaining young adults, with 18% of the
population in the 21-34 age group. Another 28% percent of the population is in the 3554 age group, with adults 45+ comprising 40% of the total population.
(Glenpool Trade Area)
Table 1: Population Age Groups / 2010 / Glenpool Trade Area
Age 0 - 4
Age 5 - 9
Age 10 - 14
Age 15 - 17
Age 18 - 20
Age 21 - 24
Age 25 - 34
Age 35 - 44
Age 45 - 54
Age 55 - 64
Age 65 - 74
Age 75 - 84
Age 85 +
6,578 persons
6,365
6,176
4,171
3,454
4,668
11,136
11,246
13,545
10,847
6,650
3,494
1,280
7.34%
7.10%
6.89%
4.65%
3.85%
5.21%
12.43%
12.55%
15.12%
12.10%
7.42%
3.90%
1.43%
The average family household income in the Glenpool trade area is $66,485.31
(estimated) for 2010. Average and median income of all households in Glenpool proper
and in the trade area appears below in Table 2.
Table 2: Household Income / 2010
Type of HH
City of Glenpool
Glenpool Trade Area
Average
$60,697.00
$64,049.00
Median
$53,599.00
$50,068.00
Per Capita
$21,021.00
$23,636.00
More than 77% of the households are family households, with 55% of those being
married households where both spouses are present. Fifty-two percent of the population
in the trade area has pursued some type of college education and 29% hold a college
degree. Within the city of Glenpool, 56% of the population has at least some postsecondary education and 30% of the population has a college degree.
Most of the population is engaged in White Collar occupations, with 29% in
management, business or financial or other professional positions and another 28% in
sales or office positions. Less than three percent of the population within the trade area
is unemployed.
Housing Statistics
Seventy-Eight percent of the homes in the Glenpool area are owner-occupied, indicating
home ownership is within reach for most residents. The median value of all owneroccupied homes is $116,001.00, with 21% of all homes in the area less than ten years
old. New construction home building permits for the previous four years indicate an
average construction price of $127,000.00. Glenpool is on track for a record year of
residential building for 2010.
Note: Size of bubbles indicates raw number of permits issued per year, vertical location of
bubble indicates total value of permits issued in a year. Small bubbles higher on the vertical
scale therefore indicate a high value per project/permit.
Retail Environment Statistics
Total retail sales in 2010 for the Glenpool Trade Area were $645,212,545 million.
Grocery & food store sales made up $94,137,866 million of that total, with another $63.7
million coming from eating and drinking establishments.
Recent openings in Glenpool include a 199,000 sq ft green-format Super Walmart in
April of '08. Walmart has met or exceeded projections for every period since the opening
and continues to see growth. Also opened recently on the same development site:
• Sonic Drive-in
• Santa Fe Cattle Company restaurant > noted as the best performing restaurant in
the Tulsa market and the highest opening in the region
• IHOP restaurant, complete with unique patio/waterfront seating area
• 10,000 sq ft Utica Park Medical Clinic
• American Heritage Bank facility
• Supercuts
• Papa Johnʼs Pizza
• China House restaurant
• Wine & Spirit retail package store
• 60-Room Comfort Inn & Suites
• CherryBerry Self-Serve Frozen Yougurt Bar
Additional local businesses have also opened within the city on other sites, including
Ron's Hamburgers & Chili, who reported their best store opening in the history of the
chain with their new Glenpool store. A new Tractor Supply Company location also
opened in Glenpool in 2010 and the Glenpool McDonaldʼs location underwent a
complete remodel and enhancement.
Additional businesses under construction or contracted within the city of Glenpool
include:
• Holiday Inn Express Hotel
• Additional mid-range hotel
• Community Conference Center & New City Administration Building – Completion
date of March, 2011. Events are already booked for the Center.
• QuikTrip Convenience Store (second location for Glenpool)
• Additional Restaurants
• Electronics/Games store
• Additional Consumer goods store
• Drug Warehouse
Consumer demand in the trade area for 2010 totaled $1,221,173,034.00 leaving an
Opportunity Gap of $575,960,489.00 for 2010. Key categories are listed below in Table
3. See Map 1 (next page) for trade area definition.
Table 3 / Opportunity Gap, Glenpool Trade Area
Furniture & Home Furnishings
$ 17,094,816
Electronics & Appliance Stores
$ 20,893,795
Building Material / Garden Equip
$ 57,695,743
Food & Beverage (Grocery)
$ 60,208,361
Health & Personal Care
$ 44,262,653
Clothing & Clothing Accessories
$ 44,455,770
Sporting Goods, Hobby, Books
$ 20,552,527
Office Supplies / Stationery / Gifts
$ 10,204,643
Department Stores
$ 59,431,111
Full-Service Restaurants
$ 25,963,624
Businesses located in the Glenpool trade area are continuing to meet or exceed
projections, with additional new retail space and office space slated to come online in
the coming 12 months.
Map 1 / Median Income, Trade Area
Darker orange
areas of the map
indicate areas of
higher median
household income.
The Glenpool trade area is indicated by the red outline on the above map. Note this
trade area does not cross the natural barrier of the Arkansas River nor does it include
areas of Tulsa more likely to shop further north in the metro region. It specifically
excludes the Tulsa Hills development, the major retail areas along east 71st Street in
Tulsa and the smaller retail developments in Bixby, to the east and north of the trade
area.
About Crossroads Communications, LLC
Crossroads Communications is a research, marketing and consultation firm specializing in economic development
projects and retail recruitment. Based in Tulsa, OK, the firm has worked with numerous communities across the
region to accurately define markets, research opportunities, and help cities and site owners market their value to
interested parties. More information online at www.crossroadscommunications.com
More information on Glenpool is available online at www.glenpoolonline.com
Data and Sources
Data for this report came from Claritas, City of Glenpool officials, area retailers and developers and other proprietary
sources. It is believed to be true and is presented in good faith. The City of Glenpool and Crossroads
Communications, LLC are not responsible or liable for the outcome of any action or inaction; consequence material or
otherwise; resulting from use of this data in any way. All interested parties are encouraged to complete their own due
diligence as required or necessary.