Thanks to the nation’s lowest jobless rate among large cities, Oklahoma City’s office market has not headed down the all-too-familiar slippery slope of rising vacancies and lower rents that many other metro areas have experienced over the past year. Not yet, anyway.
Vacancy in downtown Oklahoma City’s Class-A office submarket, the city’s largest, registered 9.6% at year-end 2008, down from 12.2% a year earlier, according to Price Edwards & Co., a local full-service real estate firm. Rental rates moved up from $17.08 to $17.34 per sq. ft. during the same period.
