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Market Trend: Oklahoma City's Mid-Year Industrial Deliveries, Construction and Inventory

September 14, 2017
During the second quarter 2017, nine buildings totaling 135,700 square feet were completed in the Oklahoma City market area. This compares to 11 buildings totaling 376,711 square feet that were completed in the first quarter.

There were 308,364 square feet of Industrial space under construction at the end of the second quarter 2017.

Some of the notable 2017 deliveries include: 6435 SW 44th St, a 100,000-square-foot facility that delivered in first quarter 2017 and is now 0% occupied, and 5510 SW 29th St, an 80,800-square-foot building that delivered in first quarter 2017 and is now 0% occupied.

The largest projects underway at the end of second quarter 2017 were Evans Enterprises HQ - Building 2, a 55,000-square-foot building with 100% of its space pre-leased, and 2101 S Council Road, a 50,000-square-foot facility that is 100% pre-leased.

Total Industrial inventory in the Oklahoma City market area amounted to 119,326,151 square feet in 6,171 buildings as of the end of the second quarter 2017. The Flex sector consisted of 10,066,520 square feet in 553 projects. Within the Industrial market there were 601 owner-occupied buildings accounting for 26,791,931 square feet of Industrial space.

This trend is compared to the U.S. National Industrial deliveries, which saw 537 buildings totaling 64.42 million square feet completed in the second quarter, with 272.4 million square feet of industrial space still under construction across the country. Total Industrial inventory in the U.S. market area amounted to almost 22.2 billion square feet across more than 643,700 buildings, including 92,000 flex projects and 72,000 owner-occupied buildings.

The information in this news report is based on CoStar’s Second Quarter 2017 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.

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