Glenpool, OK – Retail Outlook, 2012

Glenpool, OK – Retail Outlook, 2012
Prepared by: Crossroads Communications, LLC
Author: Mandy Vavrinak, Principal
Crossroads Communications, LLC specializes in independent market / 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. It’s 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 was
named the “Best Place to Raise a Family in Oklahoma” in 2011 by Bloomberg
Businessweek. The city of Glenpool grew 26% between 2000 and 2010 and is projected
to grow another 9% by 2018. Growth in the trade area for Glenpool is similar, with an
18% increase in population since 2000 to 103,526 residents, and an additional 4.34%
growth projected by 2018. Total retail sales in the City of Glenpool grew from $91 million
in FY 2008 to nearly $130 million for FY 2010. Projected retail sales for FY 2011 are
$137,000,000.00. Benefitting from its location on US HWY 75 and the more than 45,000
cars per day traveling that road, and from Tulsa's onward march south, Glenpool
continues to attract new businesses and new residents. As retail continues to grow on
the southwest side of Tulsa, it’s driving total market demand and increased rooftops all
along the HWY 75 corridor.
Demographic Data:
Population in the Glenpool trade area grew more than 18% between 2000 and 2013,
with an additional four percent growth projected over 2013-2018. The total population in
the trade area for 2013 is estimated to be 103,526, with the projected 2018 population
at 108,4017 persons. Unlike many communities, Glenpool is retaining young adults and
attracting young families as indicated by 20% of the city’s population in the 21-34 age
group. Another 28% percent of the population is in the 35-54 age group, with all adults
45+ comprising 32% of the total population.
(Glenpool Trade Area)
Table 1: Population Age Groups / est. 2013 / Glenpool Trade Area
Age 0 - 4
8.55%
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 +
8.39%
8.19%
4.75%
4.17%
4.76%
15.05%
14.50%
13.01%
10.30%
5.42%
2.10%
0.81%
The average household income in the Glenpool trade area is $61,123.00 (estimated) for
2013.
Table 2: Household Income / est. 2013 Trade Area
Type of HH
City of Glenpool
Glenpool Trade Area
Average
$68,276.00
$61,123.00
Median
$56,281.00
$47,455.00
More than 74% of the households are family households, with 77% of those being
married households where both spouses are present. Fifty-five percent of the population
in the trade area has pursued some type of college education and 31% hold a college
degree. Within the city of Glenpool, 62% of the population has at least some postsecondary education and 34% of the population has a college degree.
Most of the population is engaged in White Collar occupations (60%), with 26% in
management, business or financial or other professional positions and another 27% in
sales or office positions. About 5% of the population within the trade area is
unemployed.
Housing Statistics
Seventy-six 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 $121,850.00, with 10% of all homes in the area less than seven
years old. New construction home building permits for the previous four years indicate
an average construction price of $127,000.00.
Retail Environment Statistics
Total retail sales in 2010 for the Glenpool Trade Area were $782,578,913 million.
Grocery & food store sales made up $89,048,588 million of that total, with another $74.3
million coming from eating and drinking establishments.
In addition to one of the largest Walmart shopping centers in the country, which has met
or exceeded projections for every period since opening, Glenpool has in the past few
years opened:
• Sonic Drive-in
• Santa Fe Cattle Company restaurant > noted as a consistently top performing
restaurant in the region 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
• GameStop
• Papa John’s Pizza
• China House restaurant
• Wine & Spirit retail package store
•
•
•
•
•
•
•
•
•
•
•
60-Room Comfort Inn & Suites
CherryBerry Self-Serve Frozen Yogurt Bar
QuikTrip Convenience Store
Pizza Hut Delivery Restaurant
Burger King Restaurant
Taco Bueno tableside food delivery restaurant
New dentist and veterinary doctors offices
Tractor Supply Company
AT&T Store
A second McDonald’s location
Glenpool Conference and Event Center
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.
Additional businesses under construction or contracted within the city of Glenpool
include:
• Holiday Inn Express Hotel
• Multi-story office buildings with tenant space for lease
• New market-rate apartment complex
Consumer demand in the trade area for 2012 (est.) totaled $1,477,609,086.00 leaving
an Opportunity Gap of $695,030,173.00 for 2012. 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
$ 17,020,797
Electronics & Appliance Stores
$ 17,833.478
Building Material / Garden Equip
$ 84,158,609
Food & Beverage (Grocery)
$ 106,156,376
Health & Personal Care
$ 47,924,448
Clothing & Clothing Accessories
$ 42,356,679
Sporting Goods, Hobby, Books
$ 23,096,913
Office Supplies / Stationery / Gifts
$ 12,915,682
Department Stores
$ 58,041,649
Full-Service Restaurants
$ 40,516,570
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 to the northeast of the Glenpool trade area
(those in Bixby north of the Arkansas River).
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.