The industrial real estate market in the Oklahoma City metro area has remained strong in recent years, with a vacancy rate of 5.4% in 2022. This is a decrease from the 6.2% vacancy rate in 2021 and is considered a positive indicator of market health. Demand for industrial space in the region has remained steady, with companies attracted to the area's central location and low operating costs.
In terms of new construction, it is expected that approximately 3 million square feet of industrial space to be completed in the Oklahoma City metro area in 2023. This includes a mix of warehouse and manufacturing facilities, as well as flex space. The new construction will help to meet the demand for industrial space in the region and is expected to have a positive impact on the market.
The market for industrial real estate in the Oklahoma City metro area is expected to remain strong in 2023, with steady demand and a low vacancy rate. Companies in a variety of industries, including logistics, manufacturing, and distribution, are attracted to the region due to its central location and competitive operating costs. As such, it is likely that the market will continue to be a popular choice for businesses looking to lease or purchase industrial space in the coming year.
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