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<strong>Commercial</strong> <strong>Market</strong> <strong>Update</strong><br />

<strong>Office</strong> <strong>Market</strong><br />

March 12, 2008<br />

Presented by:<br />

Greg Roberson<br />

Senior Vice President


Total <strong>Market</strong> Occupancy Trends<br />

86%<br />

86%<br />

65%


CBD Occupancy Trends<br />

85%<br />

77%<br />

68%


Suburban Occupancy Trends<br />

96%<br />

87%<br />

68%


Demand Drivers<br />

Lease Transactions<br />

Building Tenant Area Date Total SF Existing New<br />

International Plaza Dewberry CBD 2008 12,315 12,315<br />

Boulder Towers Sullivan & Company, LLC CBD 2007 12,836 7,100 5,736<br />

One Technology Center Bank of Oklahoma - Projected CBD 2008 15,000 15,000<br />

110 West Seventh Barrow, Grimm, et. al. CBD 2007 17,000 12,000 5,000<br />

110 West Seventh Avalon Exploration CBD 2007 17,000 10,000 5,000<br />

Boulder Towers Ceja, Corp. CBD 2007 17,500 17,000<br />

Boulder Towers Blue Cross Blue Shield Of Oklahoma CBD 2007 25,230 25,230<br />

Boulder Towers Scott & Goble Architects, Inc. CBD 2007 26,238 12,800 13,438<br />

One Technology Center Deloitte & Touche CBD 2008 29,723 29,723<br />

110 West Seventh Atlas Pipeline Mid-Continent CBD 2007 42,164 30,000 12,164<br />

320 South Boston Hall, Estill CBD 2006 90,000 60,000 30,000<br />

110 West Seventh Newfield Mid-Continent Exploration - Projected CBD 2008 100,000 85,000 15,000<br />

BOK Tower Magellan Midstream Partners CBD 2008 100,000 100,000<br />

One Technology Center Level 3 Communications, LLC CBD 2007 143,115 143,115<br />

One Technology Center City of Tulsa CBD 2007 267,000 267,000<br />

Triad II Tetra-Tech FHC Inc. Suburban 2007 13,047 10,000 3,047<br />

Bridgeport III Richardson Law Firm Suburban 2007 15,378 15,378<br />

Two Warren Place BKD, LLP Suburban 2007 18,682 15,675 3,007<br />

Matrix Architects Williams Center Tower II Suburban 2007 20,000 10,000 10,000<br />

Eton Square <strong>Office</strong> Center ITT Educational Suburban 2007 21,347 21,347<br />

Guaranty Bank Building Southwestern Bell Yellow Pages Suburban 2007 23,340 23,340<br />

Eastgate Metropelx Community Action Project Suburban 2007 29,200 29,200<br />

Meridian Tower Matrix Service Company Suburban 2007 42,796 42,796<br />

Eastgate Metropelx Coca-Cola Enterprises Inc. Suburban 2007 61,850 61,850<br />

CityPlex Towers ENGlobal Engineering, Inc. Suburban 2007 102,632 102,632<br />

Union Pines US Cellular Suburban 2007 122,000 122,000<br />

Total Square Feet 1,385,393 818,078 564,815


SaleTransactions<br />

Property Address Bldg SF Buyer Seller Sale Price Price PSF<br />

31 st Court Building 7912 E. 31st Ct. 59,500 HFP, LLC 31st Court, LLC $4,700,000 $78.99<br />

Boulder Towers 1437 S. Boulder 521,802 A.S.P. Inc. K/B Fund IV $31,950,000 $61.23<br />

TechRidge<br />

<strong>Office</strong> Park<br />

41st & Mingo 550,116 Cannon <strong>Commercial</strong>, Inc.<br />

Valley Ridge<br />

Partners, LP<br />

$39,000,000 $70.89<br />

One Technology<br />

Center<br />

100 S. Cincinnati 741,737 Tulsa Public Facilities Auth.<br />

One Technology<br />

Center, LLC<br />

$52,250,000 $70.44


CBD Supply Drivers<br />

Building Total SF Available SF Rate<br />

One Technology Center 741,737 95,973 $19.10<br />

BOK Tower 1,140,684 100,000 $16.50<br />

ONEOK Plaza 517,235 0 $16.50<br />

Williams Center Tower I 312,675 53,898 $13.50<br />

Williams Center Tower II 413,816 117,287 $13.50<br />

110 West Seventh 521,854 124,000 $14.25<br />

Mid-Continent 321,500 31,000 $15.50<br />

Boulder Towers 521,802 37,615 $15.50<br />

This information contained herein was obtained from sources including CoStar, GTAR, <strong>Commercial</strong> Properties Magazine and<br />

Loopnet and is deemed to be reliable. However CB Richard Ellis/Oklahoma makes no representations to its accuracy and all<br />

information should be independently verified.


Suburban Supply Drivers<br />

Building Total SF Available SF Rate<br />

Warren Place I & II 959,895<br />

100,000<br />

(Citgo)<br />

$20.00<br />

Utica Place 100,000 6,000 $20.00<br />

Richmond Plaza 168,010 5,040 $18.50<br />

Southern Hills Tower 151,879 0 $19.00<br />

BOK Place at Southern Hills 124,464 4,249 $15.75<br />

Meridian Tower 202,612 11,010 $16.00<br />

Triad Center I 139,528 10,484 $16.50<br />

Triad Center II 150,294 55,000 $13.50<br />

6655 South Lewis 50,672 4,200 $16.50<br />

This information contained herein was obtained from sources including CoStar, GTAR, <strong>Commercial</strong> Properties Magazine and Loopnet and is deemed to be reliable. However<br />

CB Richard Ellis/Oklahoma makes no representations to its accuracy and all information should be independently verified.


Supply Drivers<br />

TechRidge <strong>Office</strong> Park<br />

550,116 Total SF<br />

136,000 Avail SF<br />

Rate: $13.25 - $14.00<br />

Eastgate Metroplex<br />

1,000,000 Total SF<br />

800,000 Avail SF<br />

Rate: $9.00<br />

Merit Corporate Park<br />

543,573 Total SF<br />

135,949 Avail SF<br />

Rate: $13.00<br />

CityPlex Towers<br />

2,200,000 Total SF<br />

817,429 Avail SF<br />

Rate: $12.50 - $14.00<br />

This information contained herein was obtained from sources including CoStar, GTAR, <strong>Commercial</strong> Properties Magazine and Loopnet and is deemed to be reliable. However<br />

CB Richard Ellis/Oklahoma makes no representations to its accuracy and all information should be independently verified.

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