Omaha’s office market saw more total lease transactions in 2021 for more total space than in any year since our firm has tracked it, 281 transactions for nearly 1.8 million square feet. In a typical year, Omaha usually sees approximately 200 transactions for one million square feet. In addition to leasing activity, net absorption was positive 310,391 square feet, and Omaha’s overall vacancy rate contracted slightly over the year. In turn, year-over-year market rent growth reached its highest point since pre-COVID-19. CoStar states, “Though slow-moving compared to other major U.S. metros, Omaha’s office market is showing early signs of a recovery thanks to its diversified employment base.”
OFFICE REPORT HIGHLIGHTS:
- Omaha Office Market Overview
- Construction Update
- Vacancy Analysis
- Absorption Update
- Detailed Data by Omaha Office Submarkets
- Lease Transactions
- Notable Transactions
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