Although Tulsa doesn’t rank high in hot office investment markets, year by year, it gains popularity among the landlords and tenants. Historically, it has been dominated by the local private owners, but in recent years, it has attracted a number of international newcomers. It’s true to say that the office space sector in Tulsa has been struck by the economic recession, nowadays occupiers are taking note of the significantly improved fundamentals. There are more than 30 million square feet of the workspace of office type, primarily spread around the CBD and the southern part away from it. The success of its development historically hinges on the energy industry. Currently, office space leasing activity in Tulsa is increasing while the target audience is interested in rental expands. Telecommunication, finance and insurance, ICT, aerospace, manufacturing industries are only some of the emerging tenants that express demand for sophisticated offices in the region. The private sector also adds thousands of jobs annually, becoming a significant workspace occupier in the area. The supply of Class A office space for rent in Tulsa has been dwindling since 2013, causing vacancy rates to drop to historically low levels. On average, the rental fees for work suites in this area stay at the point of $1,3 per sq.ft. per month. Yet, there are many cheaper options, so office rental in this dynamic area is affordable.
