Industrial employment continues to experience sustained growth. According to the Bureau of Labor Statistics, Tulsa accounted for 4,300 of the 13,000 jobs added to Oklahoma industrial employment September year-over-year.
Compared to the previous quarter, the Q3 2018 market-wide vacancy rate increased by 40 basis points.
The Tulsa industrial market saw 58 transactions and 614,000 sq. ft. of gross absorption.
Space under construction rose significantly quarter-over-quarter with the start of a four-story distribution building totaling 2.56 million sq. ft. in the East submarket. The project is expected to be completed by Q3 2019.