Emerging and so-called "special mention" tech cities dominated established office markets in Q3, led by new standout Oklahoma City, which posted a 200 basis point drop in vacancy in Q3 ad a cumulative 390 point plunge year over year.
That's according to a new analysis from Moody's Analytics' David Caputo, who notes that Salt Lake City and Greensboro also posted impressive 120 point drops. Oklahoma City added 1,764 new tech jobs in July.
"Oklahoma City is well on its way to being upgraded to an emerging market in Q1 2023," he says, adding that overall, emerging tech markets posted a drop of 20 bps and special mention market experienced a decline of 40 bps versus an aggregate 30 bps rise in established cities.
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