Figures

Tulsa Office Market Figures H1 2022

July 12, 2022

  • Absorption dipped back into negative territory and vacancy increased slightly in the first half of 2022.
  • Confidence in the market remains steady as made evident through a steady uptick in construction, historically high investment sales and continued investment in the city’s infrastructure through programs like Tulsa Remote and various city initiatives.
  • Hybrid work models, lingering uncertainty in the economy and a flight to quality space with reduced square footage needs continue to heavily influence activity levels.
  • The overall increase in market asking rates can be attributed to new construction and will likely decrease as these spaces are leased and new vacancies of existing space become available at lower rates.
  • Construction projects in the metro continued to rise in H1 2022, with 545,143 sq. ft. of office space under construction.