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Office Space Search - Tenant Representation / Transaction Services
Tulsa continues to offer excellent value in office space. At TulsaProperties.com you'll find a complete inventory of Tulsa's office buildings which will make your selection of Tulsa office space easy to make.
This information is derived from various sources of data that includes basic details of the buildings available, size, and the quoted lease rates. Office space rates have been changing this year and should require specific inquiry to make sure of the accuracy.
After reviewing the buildings, when you decide to look for the right space for your company, call Randy Phillips our managing broker for assistance. He will do your leg work for you.
Office space availability changes constantly and the need for personal updates of information is critical to making your choice. To do this you'll need a transaction broker. As your broker we'll survey the market and give you ALL your office space options based on your specific needs.
Featured Office Space
Park Towers has a great space with 4,524 sf we're featuring today. One of south Tulsa's best office building choices, Park Towers stands just across from LaFortune Park at 53rd & South Yale. It's the pair of white towers you just can't miss. Mouse over the video for the menu to start your tour.
Park Towers info click here.
Tulsa Office Space
Tenant Representation
services are essential to choosing the right office space, allowing your company the advantage of market experience and time savings at no cost.
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The downtown office market is more active that we've seen in years. Lease rates are increasing in the more attractive buildings. Tenants should not expect to get the rates offered a year ago in these more active buildings.
That said, the Tulsa office market is extremely inexpensive compared to other major cities. To illustrate the point, in 1983 (24 years ago) I was leasing the 4500 Garnett and the Exchange Center I & II. The rates we were getting then were $12.50 psf in the 4500 building and about $11.00 psf in the Exchange Center buildings. Today the 4500 S. Garnett building leases in the $13.50 to $14.50 range. The last published lease rate for Exchange Center I & II is $11.50 psf.
Considering the quality of the properties that is an excellent value compared to any US market. This is of course just one sub market of Tulsa. Other hotter locations are commanding up in the $19.00 - $22.00 range. This would include the Midtown market near Utica Square and Warren Place in the central South Tulsa market (Yale &, Lewis corridors).
Space is tighter in these two markets but office rates are still a great bargain.
tulsa office Market perspective
Tulsa's downtown office market is undergoing change. Last year a renaissance was expected with a significant new player in the market. New vision from Maurice Kanbar and Henry Kaufman, two partners who planned to retrofit the downtown office market was greeted with great anticipation. The partners had announced changes to some of the prime office property in the core of downtown.
Recently their partnership changed and owner Maurice Kanbar reorganized his local presence. After setting up the management team for his holdings the company has a solid footprint in the downtown market and takes its place among the owners of downtown Tulsa office buildings.
First Place Tower the centerpiece of the company's holdings. Early in the program Kanbar announced that the lower mall area at the base 
of the Tower will be converted to a child care center. Part of that plan was to raze the McBirney Building, 419 S. Main Street and the Cordell Building, 417 S. Main. The child care center has not been built and may not be in the plan currently. However, the building were razed and opens up a nice vestibule for First Place Tower.
Kanbar has a nice footprint in the Tulsa market and it will continue to be interesting to see how the Tulsa office market will develop over time.
The news back in January 2006
The big news for late 2005 and 2006 is the acquisition of 20 office buildings by Maurice Kanbar. This comprises about 32% of the downtown Tulsa office market. The mix was to include a revamping of old buildings, razing of a few, conversion of several and the improvement of many.
We should see the first renovation take place to the TransOK building in the spring of '06 as it will be converted into 50 apartments. Following should be the Enterprise Building, which will be home to 88 apartments. Both of these properties are likely to be better suited to apartments than office space as evidenced by past vacancy rates in both properties.
Plans to raze the McBirney and Cordell Buildings raised some historians' concerns concerning the preservation of art deco architecture, but in fact these properties had no economic or beneficial usefulness. So, in deference to local concern, the Kanbar compromised with a plan to raze the buildings without destroying the facades. Ultimately one of these was required to be razed do to public safety concerns.
December 2005
Maurice Kanbar and Henry Kaufman made their mark in Tulsa. Within a few months, they purchased over 20 buildings in downtown Tulsa. Their participation in Tulsa's real estate landscape was anticipated to be a welcome enhancement to our city.