Oklahoma City, the state's capital, has an MSA population of 1,083,000.  Its population growth since 1990 has averaged 1.3% per year, approximately the same as the national average.  Employment growth in the last year and the last ten years has exceeded the national average.  Growth by job sector is shown in the bar chart below. Although the city has felt the effects of cutbacks in the telecommunications and internet sectors, it has not been as hard hit as many cities which have had greater concentrations of high tech employment. With a number of major construction projects recently completed or underway downtown, the city is enjoying a renaissance. Major industries are defense, contracting, telecommunications, computer services, and manufacturing, automobile manufacturing, education, healthcare, trucking, and government.  A chart of the major employement sectors is provided below.

For additional information about the Oklahoma City economy, the following links may be helpful:

Oklahoma City's office market consists of 15.2 million square feet of multi-tenant office space in buildings larger than 25,000 square feet.  This is exclusive of government and medical buildings.  Of this amount, 5.7 million square feet are downtown, and the balance of 9.5 million square feet are in the suburbs.  Overall, the suburbs have an occupancy rate of 82.8%, down from 88.1% three years  ago.  Class A and B buildings downtown have an average occupancy rate of 86.1% up from 74.9% three years ago.  Current class A suburban asking rent rates range from $15 to $18 per square foot and class B suburban  asking rent rates range from $12 to $14 per square foot. Class A downtown asking rent rates range from $13 to $16 per square foot while class B downtown asking rent rates range from $10 to $13 per square foot. Asking rent rates have generally been flat for the past two years.

Submarkets and Available Space
January, 2002

We have listed below our last five market surveys. Click on the icon below to display a PDF file of the survey.

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