The city's overall leased rate is 84.5 percent, up 5.3 percent over last year. In 1986, the occupancy rate was 68.5 percent. In addition, today there is more total office space leased than ever before in Tulsa. Of the total 17.2 million square feet, only about 2.6 million is unleased. Space is rated from class A, highest quality, to class D, lowest, using such criteria as floor-plate size and the age of the building.
Most buildings fall into the class A and B categories.
In the downtown market, 81.5 percent of the space is leased, down slightly from last year. The suburban market experienced a good percentage increase of 9 percent, up to 86.4 percent from 774 last year. The strongest growth was in suburban class B spaced where the leased rate jumped to 85.9 percent from 70.3 percent and increase of 15.6 percent. During the past six months, the Broken Arrow submarket showed a net gain of 109,000 square feet, represented by major leased by TCIM Services and Finger Hut, as well as a number of smaller deals. Rents continued to show increased of 8 percent to 10 percent across the board.