10/14/2026
OKC commercial real estate, Q2 2026: the latest quarterly numbers from NAI Sullivan Group and what I am watching heading into Q4.
Industrial
- Vacancy fell to 6.1% from 6.9%, the first quarterly decline since Q3 2024.
- Net absorption was +1,162,652 SF, the strongest quarter of demand since Q1 2024.
- Average rent: $7.63/SF/YR NNN. New construction is asking $9.59/SF.
- Only 322,676 SF is under construction metro-wide, the smallest pipeline in nearly six years.
Office
- Vacancy held at 9.9%, while Class A vacancy climbed to 15.7%.
- Net absorption slowed to 6,566 SF. Average rent: $22.01/SF/YR.
- 79 sales averaged $120.17/SF at an 8.0% cap rate.
Retail
- Vacancy: 5.8%. Net absorption was -272,444 SF, led by Class C center vacancy from retailer bankruptcies and chain downsizing.
- Average rent: $16.65/SF/YR, with new construction leasing in the $40s/SF.
My take: with demand back and very little new industrial supply, well-located existing buildings are in a strong position. Owner-users who need shop or flex space should start their search early instead of waiting on new product. In retail, second-generation space from closures is coming back to market, which can open doors for local operators and buyers willing to reposition.
I will share the Q3 numbers when they are released. If you want to talk through how this affects a property you own or are considering, reach out.
Source: NAI Sullivan Group, Q2 2026 Oklahoma City Industrial, Office and Retail Market Reports (naired.com).
Brad Huffman | Rise Above Realty LLC
Cell: 405-409-2928
Office: 405-362-1660
www.RiseAboveRE.com