Newspaper article THE JOURNAL RECORD

City Industrial Vacancy Rate Rises to 12 Percent / Fifth Straight Quarter

Newspaper article THE JOURNAL RECORD

City Industrial Vacancy Rate Rises to 12 Percent / Fifth Straight Quarter

Article excerpt

The industrial vacancy rate in Oklahoma City rose for the fifth consecutive quarter during the fourth quarter of 1986 to 12 percent, the highest the rate has been since it was 12.7 percent in the fourth quarter of 1983, according to a report issued Tuesday by Coldwell Banker Commercial Real Estate Services.

The industrial vacancy rate for the quarter was up from 11.4 percent in the third quarter and up from 9.3 percent in the fourth quarter of 1985, according to the report.

"Vacancy of over 12 percent is by far the highest this year," said Jim Austin, manager for Coldwell Banker Commercial Real Estate in Oklahoma City. "Vacancy rose without exception in every area of the city.

"Industrial vacancy is the first to indicate the direction the market is going," he said. "In this case it indicates a continuance of the stagnation in our industrial economy."

In the four sectors in the report the vacancy rates ranged from a low of 6.35 percent to a high of 31 percent. According to the report, the rates for the sectors are:

- The Central Business District had the highest vacancy rate with 31 percent, up from 28.4 percent in the third quarter and up from 26.78 percent in the fourth quarter of 1985.

The vacancy rate for the area is the highest it has been since the second quarter of 1985 when it was 31.9 percent. There are 477,505 square feet of industrial space vacant in the area in the fourth quarter, up from 421,605 square feet in the third quarter, according to the report.

- The north sector had an industrial vacancy rate of 17.1 percent, up from 16.87 in the third quarter and 13.6 percent in the fourth quarter of 1985.

There are 2.1 million vacant square feet of industrial space in the north sector, up from 2.06 million in the third quarter and 1.69 million in the fourth quarter of 1985.

- The southeast sector, with 6.3 percent, had the lowest industrial vacancy rate of any of the city's sectors. …

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