OK - Tulsa, Oklahoma
OR - Portland
DEMOGRAPHICS CBSA
Tulsa, OK
DEMOGRAPHICS
Square Miles
Population
Households
Household Income Median
Employees (Total)
Unemployment
6,281
935,612
372,484
55,286
395,237
5.90%
CBSA
PortlandVancouverBeaverton, OR-WA
MARKET HIGHLIGHTS
Square Miles
Population
Households
Household Income Median
Employees (Total)
Unemployment
6,684
2,261,246
878,239
$58,563
952,611
7.50%
MARKET HIGHLIGHTS
• Local expansions added 7,715 new jobs. Baker Hughes had
• Office building sales activity in 2013 was up over 2012 with
a $40 million expansion. Flight Safety opened a $42 million simulator plant. $350 million in private funding will be invested in Downtown Tulsa.
cap rates averaging 7.75%.
• Salesforce.com leased 116,500 SF at Synopsys Technology
Park, accounting for nearly 50% of the quarter’s absorption total.
• While Warehouse vacancy is falling, the supply of Office space is rising.
• Retail vacancy remained stable at 5.5% with over 104 million
• New commercial construction, with the exception of expansion of existing facilities, is at a stand still.
SF in the market.
• K-Mart closed two stores, and Orchard Supply Hardware
• Residential sales have increased 11.26% over 2012. Supply
opened two new locations of approximately 40,000 SF each.
of inventory is down 27.45%. New construction sales for 2012 was 1,443.
• The Industrial market faced negative absorption of 756,798
SF with the moving out of Georgia-Pacific, Sealy Stearns and Benson Industries Inc.
• 4,100 more new jobs exceeding a $50,000 annual salary
were created. Bank financing is increasing in oil and gas production.
• Georgia Pacific relocated within Rivergate Corporate Center from 204,550 SF to 402,250 SF in Phase II.
• Tulsa is a top city for low cost of living as it is #1 in the country for lowest cost of rent.
• There is a new emphasis on the Arkansas River Development Plan.
OFFICE
retail
industrial
multy-family
OFFICE
retail
industrial
multy-family
Vacancy
p
q
q
q
Vacancy
q
n
p
q
Absorption
p
q
q
q
Absorption
q
p
q
q
Rental Rates
q
n
n
n
Rental Rates
p
p
p
n
CONTACT
CONTACT
Coldwell Banker Commercial Select
4408 S. Harvard Ave. Tulsa, OK 74135 (918) 712-4311
www.cbcworldwide.com
Coldwell Banker Commercial Mountain West Real Estate
50
960 Liberty St. SE Suite 250 Salem, OR 97302 (503) 587-4777
www.cbcre.com