Omaha Market Report (Q3, 2021)
This report is based on CoStar data, which takes into account 47.1 million square feet of office space in the Omaha market. There is 580,000 square feet of office space under construction at this time, which is down from last quarter. The office market is surprisingly strong given all the work-from-home challenges.
Approximately 65 million sq. ft. of retail space was considered for this report. At this time, 286,000 square feet of retail space is under construction, which is almost the same as at the end of the prior quarter. Retail landlords and tenants have shown a lot of creativity and versatility, filling space, in some cases, with non-traditional uses.
The industrial market continues to knock it out of the park right now. The total market size is 96 million square feet. More than 4.4 million square feet of industrial space is under construction right now, which is up 300,000 square feet from last quarter.