Vacancy

⇑ Office: 16.1 percent

⇔ Retail: 12.6 percent

⇑ Apartment: 9.6 percent

⇓ Industrial: 9.8 percent

Absorption

⇑ Net office: 20,000 square feet

⇑ Net retail: 80,000 square feet

⇓ Apartment: -273 units

⇓ Net industrial: -586,883 square feet

Rents

⇑ Office, asking: $14.75 per square foot

⇓ Office, effective: $12.30 per square foot

⇑ Retail, asking: $11.10 per square foot

⇓ Retail, effective: $9.84 per square foot

⇑ Apartment, asking: $544 per unit

⇑ Apartment, effective: $516 per unit

⇓ Industrial: $3.56 per square foot

Under Construction

⇓ Office: 28,000 square feet

⇓ Retail: 0 square feet

⇑ Apartment: 466 units

⇓ Industrial: 247,000 square feet

Résumé

• Demographics: 72 percent white, 15 percent black, 4 percent Asian, 3 percent American Indian and Alaska Native, 6 percent other; 15 percent identify as Hispanic or Latino
• Top area private employers: OGE Energy Corp., AT&T, Chesapeake Energy Corp., Mercy Health Center, Devon Energy Corp.
• 4th-least-stressful U.S. city (bizjournals.com)
• 7th-cleanest U.S. city (Forbes)
• 2nd-largest U.S. city geographically
• 10th-best U.S. place to live (Relocate-America)

Sources: bizjournals.com, Central Oklahoma Home Builders Association Inc., City of Oklahoma City, Forbes magazine, Grubb & Ellis, The Journal Record, National Real Estate Investor, NewsOK.com, OKCBusiness, Reis Inc., Relocate-America, U.S. Census Bureau, U.S. Department of Labor

Ivanna C. Sukkar is senior associate editor at Scotsman Guide. Reach her at (800) 297-6061 or ivannas@scotsmanguide.com.

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