TULSA, OK—Xceligent has released its industrial and office market reports for Tulsa, OK for the second quarter of 2014.
- The Tulsa Industrial market showed strong gains in the 2nd Quarter with 48,174 SF of positive absorption which helped push down the vacancy rate to 6.9%. The Industrial market is on the upswing and several large deals are expected in the second half of the year.
- The Broken Arrow submarket is showing the highest overall vacancy rate at 21.7%. Followed by East at 10.8% and Midtown at 9.6% vacant.
- The Tulsa office market opened 2014 with two consecutive quarters of positive absorption. 191,467 square feet were absorbed in Q2. The market vacancy rate is 18.1%.
- Lease rates have remained relatively flat over the last 5 quarters with just a $0.13 increase over Q2 2013. The average Q2 lease rate is $14.02.
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