Oklahoma City Office Figures H2 2022

March 10, 2023 5 Minute Read

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  • Oklahoma City’s office sector maintained its momentum throughout the second half of 2022 with increases in absorption, construction, deliveries and asking rates.
  • Vacancy held steady – increasing only 10 bps over H1 2022 to 19.6%.
  • Absorption made a significant improvement over the first half of 2022, increasing from just under 80,000 sq. ft. absorbed to over 250,000 sq. ft. absorbed during H2 2022.
  • The overall market asking rates continued to make steady improvements, increasing from $18.44/SF in H1 2022 to $18.66/SF in H2 2022.
  • Construction and deliveries both ticked up during H2 2022. Construction increased 244,745 sq. ft. of construction over H1 2022 to 574,404 sq. ft. during the second half of the year while deliveries went from 48,998 sq. ft. delivered to just under 100,000 sq. ft. delivered in H2 2022.