• The unemployment rate for Oklahoma City remains below both the state and national average, ending Q1 2019 at 3.0%. Office-using employment also showed signs of growth throughout the quarter. The professional & business services and financial activities sector grew by 2.7% and 3.6%, respectively.

 

  • There was a drop in net absorption compared to Q4 2019, though it lingers in positive territory for a second consecutive quarter. The Northwest submarket remains attractive to office users in the Oklahoma City metro, leading all other submarkets in terms of transaction volume.

 

  • The Oklahoma City market saw 69 lease transactions and 156,500 sq. ft. of gross absorption during Q1 2019.

 

  • There was a notable increase in construction activity throughout Q1 2019, particularly for Class A office buildings in the CBD and Midtown submarkets. Heartland Payment Systems is building a new 100,000-sq. ft., Class A office building downtown, while the 53,00-sq. ft. Monarch building is underway in Midtown.