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A positive 2008 forecast
"As most of the nation is bracing for a tough 2008 for commercial real estate, Oklahoma is gearing up for yet another positive year for all of its major commercial property types.

While most experts agree Oklahoma will feel some effects if a recession does occur this year, they also agree both Tulsa and Oklahoma City’s commercial real estate markets should remain insulated for the most part, largely due to the phenomenal growth seen in the state’s oil and gas sector over the past several years...

Oklahoma City and Tulsa offices, the growth in the state’s energy sector has been one of the leading factors behind the steady absorption being seen in office vacancy, especially in Oklahoma City. Both Oklahoma City’s suburban and downtown office markets have greatly benefited from the expansion of numerous small and large energy firms. In downtown alone, three sizable energy firms, including SandRidge and Simons Petroleum, relocated their offices to the central business district in 2007. With vacancy expected to improve in both cities in 2008, it's predicted yet another strong year for office investment sales, especially with supply and demand remaining out of balance for the year. “I would say the overall market is in excellent condition,” he said. “There are still far more buyers than sellers looking for quality office assets.” Not only will the heightened demand for office product result in increased purchase prices, but so will continued increases in office rental rates" (Source: Journal Record)
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