CBRE: Tulsa office market largely escapes impact of lower oil prices in 1H15
According to CBRE’s latest Marketview of the office market in Tulsa, the city’s office market has been largely unaffected by the downturn in oil prices over recent months, thanks to the growth in employment overall by nearly 9,000 since mid-2014. Rising employment in construction, business services and healthcare has more or less offset job losses in the energy and mining sectors. Net absorption of office space in 1H15 was about 142,000 square feet. Class A rents are USD14.43 per square foot and have been rising. The overall vacancy rate has been 12.2% and has been falling.
Source : August 2015/CBRE/Tulsa/OFF