Oklahoma City Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $19.40 2024 Avg. Asking Rent
  • 14.43% 2024 Office Vacancy Rate
  • $58M2024 Total Office Sales
  • $83.00Avg. Sale Price/SF

Oklahoma City office price per square foot in 2024 was $19.40 on average. The local office market recorded an average vacancy rate of 14.43% across all asset classes combined. The 13 transactions that closed here throughout 2024 amounted to a total sale volume of $58M. Oklahoma City office space commanded an average sale price per square foot of $83.00.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Oklahoma City Class A & A+ Office Space$21.62
  • Oklahoma City Class B Office Space$17.88
  • Oklahoma City Class C Office Space$13.26
  • Oklahoma Class A & A+ Office Space$20.94
  • Oklahoma Class B Office Space$16.50
  • Oklahoma Class C Office Space$12.62

Oklahoma City, OK Office Asking Rents by Class

Average office rent in Oklahoma City rested at $19.40 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Oklahoma City averaged $21.62 per square foot. Across all submarkets, class B office space recorded an average asking rent of $17.88 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $13.26 per square foot, on average. Comparably, statewide Oklahoma average office rents by class in 2024 were: $20.94 per square foot for class A office space; $16.50 per square foot for class B office space; $12.62 per square foot for class C office space.

2024 Office Vacancy Rates in Oklahoma City

Submarket Asking Rents Vacancy Rates
Memorial Corridor $22.61 16.47%
CBD $19.63 8.70%
Southwest $19.50 35.75%
North $19.15 18.74%
Eastern Oklahoma County $17.96 25.10%
Northwest Expressway Corridor $17.83 19.54%
Edmond $16.56 9.60%
South $14.57 18.49%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Oklahoma City market was 14.43% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Oklahoma City was 8.70% in the CBD submarket, while the highest office vacancy in the market was 35.75%, recorded in Southwest.

Office Spaces for Rent in Oklahoma

Oklahoma City Office Sale Price per SF

  • $83.002024 Avg. Price per SF
  • -28.01%Y-o-Y Avg. PpSF Change
  • $58M2024 Office Sales Volume
  • 132024 Number of Transactions

Oklahoma City, OK Sale Price per SF Trend

  • Oklahoma City Avg. Sale Price per SF in 2024$83.00
  • Oklahoma Avg. Sale Price per SF in 2024$79.24
Oklahoma City office space cost in 2024 marked a -28.01% change compared to the previous year. The sale price for office space in Oklahoma City averaged $83.00 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Oklahoma average office sale price during the same time period was $79.24 per square foot.

2024 Office Sales Volume

  • Oklahoma City, OK Total Office Sales Volume in 2024 $58M
  • Oklahoma City, OK Total Number of Office Sales Closed in 2024 13
A total of 13 deals closed on the Oklahoma City office market in 2024, adding up to a yearly sales volume of $58M. Notably, the largest transaction on the market saw 300 Johnny Bench Drive change hands for $17,694,000 on 4/4/2024.

Largest Oklahoma City Office Sales in 2024

Property name Address Date Price
300 Johnny Bench Drive 300 Johnny Bench Drive 4/4/2024 $17,694,000
Foundations Surgical Affiliates MOB 14000 North Portland Avenue 7/19/2024 $11,586,000
Airport Business Center - 3700 South MacArthur Blvd 3700 South MacArthur Blvd 5/20/2024 $11,000,000
7301 Northwest Expwy 7301 Northwest Expwy 9/27/2024 $3,625,000
500 Meridian Complex 500 North Meridian Avenue 4/24/2024 $3,000,000
Data provided by Commercial Edge

Coworking Spaces in Oklahoma

2024 Office Construction in Oklahoma City, OK

  • Oklahoma City, OK Total SF completed in 2024 70,398
  • Oklahoma City, OK Total SF under construction in 2025 252,000

During 2024, 70,398 square feet of new office space were delivered across the market. At the close of 2024, the Oklahoma City office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 70,398 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 252,000 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Oklahoma City
Office building Address SF Completed
The Phillips Murrah Building 424 NW 10th Street, 73103 79,658 2024
101 NE 82nd St 101 NE 82nd St, 73114 20,000 2024
PROPER Salon Suites at Stephenson Park 142 East 5th Street, 73034 4,114 2024
13601 W Memorial Park Dr 13601 W Memorial Park Dr, 73120 25,564 2023
Premier Breast Institute of Oklahoma 8516 S. Portland Avenue, 73159 24,894 2023
Make Ready 220 NW 13th Street, 73103 18,597 2023
13700 S Western Ave 13700 S Western Ave, 73170 9,600 2023
4308 Grant Blvd. Office 4308 Grant Boulevard, 73099 12,928 2022
15105B Crown at Lone Oak Rd 15105 Crown at Lone Oak Rd, 73013 3,000 2022
Pampered Pets 2020 N Kelly Ave, 73003 13,325 2021

Worth noting among recent office completions on the Oklahoma City market is The Phillips Murrah Building, which is currently the largest new office development in the city, at 79,658 square feet.

Data provided by Commercial Edge

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Oklahoma City commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.