http://newsok.com/office-market-thriving-in-downtown-oklahoma-city-observers-say/article/3586245?custom_click=headlines_widget

Thanks for the information.

Both articles Steve published are great news about the downtown office market. Moreover, Beffort stated we may see a large office building built. And O'Connor stated that we we will see more companies move here. With both of them stating that, I am confident we will see new addition to the skyline soon, because if anybody knows, its them...

Oh and not to mention that the Oklahoma Tower is for sale now, bases on unsolicited inquiries. Based on these facts it seems like a major company is trying to move downtown...

Holy batman...we are down to 12% vacancy downtown?!

Holy batman...we are down to 12% vacancy downtown?!

Helps the numbers a bit when you combine some growth with knocking down a few and change some others over to housing.

We haven't converted much into housing lately, although that wave brought it down to 25% from the peak of 33% (or higher, I think), and the SR demolitions accounted for a huge amount of space, but not that much in comparison to the wholesale bulk of downtown office space.

For a city it's size, OKC has a pretty small amount of downtown office space that shows up in these vacancy reports.

Private buildings (like Devon, Continental, SandRidge, OG&E, AT&T, etc.) aren't a part of the survey and neither are Dowell Center (192,000 square feet that has yet to hit the market), the Braniff building and a bunch of others.

Tulsa has about 9 million square feet in their inventory while OKC has just over 5 million.

Important takeaways, in my opinion, from today's stories:
- More Class C and lower space will soon be converted to other use;
- We're looking at more owner-occupant office space being built (some of this we already know about, ie: SandRidge)
- We're still years away from speculative office space like Leadership Square, etc., being built again;
- It wouldn't be a surprise to see more mixed use (office/retail/residential) built;
- I wouldn't translate O'Connor's comments as meaning a deal with Boeing to locate some office space downtown is imminent, but clearly they have reason to be hopeful
- Keep in mind the percentages cited are for Class A/B space. But that is the space to keep an eye on downtown.

What makes office space class A, B or C?

Important takeaways, in my opinion, from today's stories:
- More Class C and lower space will soon be converted to other use;
- We're looking at more owner-occupant office space being built (some of this we already know about, ie: SandRidge)
- We're still years away from speculative office space like Leadership Square, etc., being built again;
- It wouldn't be a surprise to see more mixed use (office/retail/residential) built;
- I wouldn't translate O'Connor's comments as meaning a deal with Boeing to locate some office space downtown is imminent, but clearly they have reason to be hopeful
- Keep in mind the percentages cited are for Class A/B space. But that is the space to keep an eye on downtown.

What conversions do you see in the future? FNC?

What makes office space class A, B or C?

Here's a pretty good synopsis.

Square Feet Commercial Real Estate Blog - A Guide to Office Building Classifications; Class A, Class B, Class C (http://www.squarefeetblog.com/commercial-real-estate-blog/2008/07/06/a-guide-to-office-building-classifications-class-a-class-b-class-c/)

Thanks Bluedogok!

None of the space Sandridge tore down was on the vacant list. It was all owner-occupied and was never counted as vacant even though it sat empty for several years.

That's correct. But something that didn't make it into the story was Beffort talking about how it added to the perception of downtown having a glut of empty office space.

That's correct. But something that didn't make it into the story was Beffort talking about how it added to the perception of downtown having a glut of empty office space.

Sadly - perception is reality for a lot of people.

That's correct. But something that didn't make it into the story was Beffort talking about how it added to the perception of downtown having a glut of empty office space.

That's an irrelevant point anyway, I'm glad someone at the Dark Tower can make smart cuts. :-P