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Last year, we began this report by stating that 2024 would be a crucial year for the Oklahoma City (OKC) industrial market due to slow performance in 2023, the completion of significant speculative construction, and a deceleration in rental rate growth. Reflecting on the past 12 months, this assessment appears to be accurate. The delivery of large projects and several significant move-outs have driven vacancy rates to decade-high levels at the beginning of the year, while a declining economy has contributed to the increase in vacancies. The high construction activity over the past two years has pushed vacancy rates to unprecedented levels and stalled year-over-year rent growth... Read More
