Tulsa Office MarketJared Andresen

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Tulsa Office Market VacancyAll Classes of Space

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US Office Market VacancyAll Classes of Space

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US Office Market Vacancy vs. Tulsa Office MarketAll Classes of Space

0

4

8

12

16

20

24

2007 2008 2009

US Vacancy Tulsa Vacancy

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Tulsa Office Market Vacancy by Class

0

5

10

15

20

25

30

35

40

2007 2008 2009

Class A

Class B

Class C

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Tulsa Market Class A Asking Rental RateWeighted Average, $$/SF/YR FSG

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US Market Class A Asking Rental RateWeighted Average, $$/SF/YR FSG

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Office

45

50

55

60

65

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 YTD

Mo

nth

s

Office

US Office Market Average Lease TermAll Classes of Space

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Tulsa Office Market Major TransactionsSignificant Leases

• Dayco - 4500 Exchange Center - 20K SF

• INCOG - Williams Center - 20K SF

• Workforce Oklahoma - Eastgate - 22K SF

• Petrohawk - Warren Place - 23K SF

• Summit Club - Bank of America - 30K SF

• PAETEC - Williams Center - 40K SF

• Alorica - Eastgate - 40K SF

• SEM Group - renewed and extended – 72,500 SF

• TD Williams - Warren Place – 23,000 SF

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Tulsa Office Market Major TransactionsSales

February, 2009

Blue Cross Blue Shield

1401 S. Boulder

38,780 s.f.

$42.55 s.f.

$1,650,000

March, 2009

Open World Garden

5537 S. Lewis Avenue

23,974 s.f.

$20.86 s.f.

$500,000

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Tulsa Office Market Major TransactionsSales

August, 2009

Geotrend Building

201 S. Cheyenne Avenue

32,446 s.f.

$27.74 s.f.

$900,000

September, 2009

Merit Corporate Park

4500 S. 129th E. Avenue

589,861 s.f.

$11.87 s.f.

$7,000,000

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Tulsa Office Market Major TransactionsSales

September, 2009

Harvard Gardens

4520 S. Harvard Avenue

25,266 s.f.

$81.04 s.f.

$2,047,445

October, 2009

First Baptist Church

424 S. Detroit

63,000 s.f.

$7.94 s.f.

$500,000

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Tulsa Office Market Major TransactionsSales

December, 2009

SpiritBank Tower Complex

1802 S. Baltimore Avenue

137,767 s.f.

$47.18 s.f.

$6,500,000

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Tulsa Office MarketHighlights

BOk Center

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Tulsa Office MarketHighlights

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Tulsa Office MarketHighlights

Summit Club

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Tulsa Office MarketHighlights

Arena Football 1 moves HQ to Tulsa

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Tulsa Office MarketHighlights

Tulsa WNBA Team “Shock” Established

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Tulsa Office MarketHighlights

St. John Broken Arrow

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Tulsa Office Market Major Transactions2010 – 2011 Forecast

WINNERS

• Solid and sophisticated tenants

• Well positioned landlords – staying power

• Capital – all groups

• Maintaining confidence – We will be out of this soon!!

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Q & A SESSION

Tulsa Office MarketQuestions and Answers

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QUESTION:

“Does your research show that the numerous Obama stimulus packages will trigger significant new construction of Class A office space in Tulsa in 2010?”

Scott Morgan

Tulsa Office MarketQuestions and Answers

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Tulsa Office MarketQuestions and Answers

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QUESTION:

“Based on your earlier charts and graphs it seems to me that the absorption rate for all classes of office space might be in for a major upward trend this year following Obama’s new health care reform bill.”

Jason Kennon

Tulsa Office MarketQuestions and Answers

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Tulsa Office MarketQuestions and Answers

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QUESTION:

“Does your firm think, based on your national and regional analytics, that Tulsa’s market rents will increase enough this year to support new construction?”

Victor Wandres

Tulsa Office MarketQuestions and Answers

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Tulsa Office MarketQuestions and Answers

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Thank you!Jared Andresen

Managing Director

Tulsa Office Market2010 Update