• Though unemployment for the Tulsa metropolitan area remains well below the recent historical average at 3.1%, job growth in the industrial sector dipped during Q3 2019. According to the Bureau of Labor Statistics, employment in the construction and manufacturing sectors declined by 0.8% and 1.4%, respectively.
  • The market-wide vacancy rate rose to 3.9% during Q3 2019, as weakened demand from oil and gas manufacturers and oilfield service companies led to negative net absorption for the first time since Q3 2018.
  • Quarterly investment sales amounted to $14.3 million in Q3 2019, with approximately 264,426 sq. ft. of industrial space involved amongst four transactions.
  • The aviation and aeronautics industry continues to bring new and expanding businesses to the Tulsa metro, particularly in the North submarket near the Tulsa International Airport. A recent study from the Oklahoma Aeronautics Commission indicates that the industry provides more than 200,000 jobs state-wide, with a total payroll of $11.7 billion.