• Employment growth in the industrial sector saw a slowdown during Q1 2019, though the pace of hiring remains above the recent historical average. As a whole, the economy displayed healthy employment growth throughout the quarter. The unemployment rate for the Tulsa metro was down to 3.3% in March, according to the Bureau of Labor Statistics (BLS).

 

  • Vacancies in the industrial market rose slightly in Q1 2019, though demand remains strong for logistics and distribution spaces that offer modern amenities.

 

  • The Tulsa industrial market saw 38 leasing transactions and 480,159 sq. ft. of gross absorption during Q1 2019.

 

  • Several construction projects are underway as outside companies continue to expand and relocate their business operations in the Tulsa area. As a result, there was an uptick in investment sales in the Tulsa industrial market, generating a sales volume of $12.6 million for the quarter.