OKLAHOMA CITY—Xceligent has released its industrial and office market reports for Oklahoma City for the second quarter of 2014.
- After surveying just over 72.4 million square feet, the total vacancy rate was 7.4%.
- Lease rates have remained relatively flat over the past year but are beginning to climb as both the local and national economy see more signs of improvement. Q2 industrial lease rates average $4.99 SF.
- Just over 22.1 million square feet of office space was surveyed, resulting in a 12.9% total vacancy rate.
- Class A properties have decreased in total vacancy about 0.6%, with positive absorption of 26,464 square feet during Q2 2014. Class B properties have decreased about 0.5% with the largest positive absorption 138,963 SF. Class C properties increased vacancy 0.8% with the only negative absorption of (-33,475) SF over the same time period.
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