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Tulsa Industrial Figures H2 2022
March 3, 2023 5 Minute Read
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- Despite a slowing in activity, Tulsa’s industrial market continued to perform well through the second half of 2022, maintaining low vacancy and positive net absorption.
- Investment sales outpaced the first half of the year with over $67 million invested, signaling continued confidence in the market.
- Vacancy increased 30 basis points over H1 2022 to 2.9% and after a robust start to the year, net absorption fell from over 900,000 sq. ft. to 167,811 sq. ft..
- Construction decreased by less than 100,000 sq. ft. over H1 2022 to 854,016 sq. ft. under construction during the second half of the year – all taking place in the Northeast and Southeast submarkets.
- Deliveries fell more significantly from 773,676 sq. ft. delivered during the first half of 2022 to 124,100 sq. ft. delivered during H2 2022, primarily in the form of additions to industrial parks across the metro.