Summary
Throughout much of 2008, Tulsa's commercial real estate market was touted as one of the strongest in the nation. Even though sales activity slowed due to tightening in the credit markets, average sales prices in most property types experienced increases. Additionally, with the exception of the retail market, leasing fundamentals in Tulsa were some of the strongest in the state, with declining vacancies and rising rental rates.
As the market heads into 2009, local commercial property advisers believe the market is already facing increasing challenges as a result from the changes the local economy has seen from the sharp decline in oil prices. Local industry professionals are predicting a year of uncertainty that could end with either stability or a decline.See the full content of this document
Extract
Tulsa Market Poised to Withstand Changes
Industrial
Tulsa's industrial market proved to be the strongest commercial real estate property type in 2008 as vacancy at midyear fell to around 4 percent, its lowest level since the early 1980s. According to Jamie Hill, first vice president with CB Richard Ellis/Oklahoma, the sector did experience a ...See the full content of this document
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