• Unemployment in the OKC metro remains near its lowest point in decades, ending the year at 2.8%, according to the Bureau of Labor Statistics.

 

  • Despite job losses in the energy and manufacturing industries, the trade, transportation, and utilities sector proved to be a bright spot for the OKC industrial market to end the year, adding 2,100 jobs in Oklahoma City during Q4 2019.

 

  • Overall net absorption increased for the OKC industrial market, but this was primarily the result of one sizable occupancy of pre-leased space. Without the large move-in in the Southwest submarket, the market as a whole recorded 290,788 sq. ft. of negative absorption.

 

  • Investment sales activity remained soft in Q4 2019, with $11.4 million in sales accumulated during the quarter, based on data from Real Capital Analytics. For 2019, the Oklahoma City industrial market recorded $62.3 million in investment sales.

 

  • In terms of leasing activity for 2019, the Central, South, and Southwest submarkets led the way with 2,313,081 sq. ft. of positive absorption, collectively.

 

  • As of year-end, there were several small to mid-sized warehouse properties under construction throughout the market, with the majority of construction focused in the Southwest submarket.