Office Market Update
2009 Greater Tulsa Association of Realtors
Steve Baker, CCIM
CB RICHARD ELLIS/OKLAHOMA OFFICE SURVEY
Market
# Buildings
Square Feet
%
CBD Suburban Total
39 105 144
8,275,000 13,000,000 21,275,000
39 61
Available Lease Rates vs. Vacancy Rate for Available Space
Office Building Class A - C
Dec-06
Dec-05
Dec-07
Dec-08
Jun-07
Jun-06
Jun-08
Available Lease Rates vs. Vacancy Rate for Available Space
Office Buildings CBD
Dec-06
Dec-05
Dec-07
Dec-08
Jun-07
Jun-06
Jun-08
Available Lease Rates vs. Vacancy Rate for Available Space
Office Buildings Suburban
Dec-06
Dec-05
Dec-07
Dec-08
Jun-07
Jun-06
Jun-08
Tulsa Office Occupancy Rates
Tulsa Office Occupancy Rates
CBD
Tulsa Office Occupancy Rates
Suburban
Lease Rates for Available Space
Tulsa Office
Lease Rates for Available Space
Tulsa Office - CBD
Lease Rates for Available Space
Tulsa Office Vacant
Tulsa Office Vacant
Tulsa Office Vacant
Multi-Tenant Office Buildings Sold in 2008 30,000 Plus Square Feet
• ONEOK PLAZA
100 W 5th St 517,234 SF $48,000,000 / $92.80 psf Buyer Oneok, Inc.
• MERIDIAN TOWER
5100 E Skelly Dr 202,612 SF $17,450,000 / $86.13 psf KCB Capital Advisors, LLC
• 6532 E 71st Street
32,694 SF $2,200,000 / $67.29 psf Thomas Winters, Winters Real Estate, LLC
Multi-Tenant Office Buildings Sold in 2008 30,000 Plus Square Feet
• 624 BOSTON
624 S Boston Avenue 56,000 SF $2,970,000 / $54.04 psf 624 Boston LLC
• THE SUN BUILDING
907 S Detroit Avenue 350,000 SF $790,000 / $19.60 psf Oklahoma Properties Investors III, Inc.
• THE PARK OFFICE COMPLEX
5151-5157 E 51st Street 59,280 SF $4,000,000 / $67.48 psf Tulsa 51st Street Property, Inc.
Multi-Tenant Office Buildings Sold in 2008 30,000 Plus Square Feet
• BROOKS HARVARD MED. CTR
2323 S Harvard Avenue 65,560 SF $4,750,000 / $72.45 psf F & CS Real Estate Holdings, LLC
• SKYLINE EAST II
6128 E 38th Street 121,453 SF $5,000,000 / $41.17 psf Oklahoma Department of Human Services
• RANCH ACRES MEDICAL BLDG
32,694 SF $2,200,000 / $67.29 psf Thomas Winters, Winters Real Estate, LLC