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Entries Tagged as 'Omaha Office Space'

Omaha Office Space Market Conditions

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Founded in 1854, along the banks of the Missouri River, the city earned its nickname “Gateway to the West” from a crossing called the Lone Tree Ferry.  The largest city in the state of Nebraska, Omaha consists of a diverse population of approximately 427,000 residents.

Once a pioneer town, Omaha was home to one of the world’s largest stockyards.  Due to its central location, the city soon became a national transportation hub.  During the 19th century, Omaha’s railroads and breweries were important industries to the local economy.

Today, Omaha is headquarters to five Fortune 500 companies and boasts a modern economy of diverse and skilled knowledge jobs, including banking, insurance, telecommunications, and architecture/construction.  The annual College World Series, which Omaha has hosted since 1950, provides a great deal of tourism activity and revenue to the city.  Omaha is also the birthplace of the “richest person in the world”, Warren Buffet, where he made his fortune in business.

Omaha has a thriving cultural community, rich in musical and theatrical history.  A number of jazz and rhythm and blues musicians/bands got their start in Omaha, including drummer Buddy Miles, and jazz great Preston Love.  The community offers many historical attractions, such as the Omaha Community Playhouse, the largest community theatre in the United States.  Sports also has a long history in Omaha, with both the U.S. Olympic Swim Trials and the College World Series returning to the city in 2012. 

The city appears to be on a steady pace of economic growth and recovery this year.  This has led to new jobs and a resilient office market. The Omaha office space market is expected to stay vibrant through the end of the year as confidence in the local economy stays strong.

Market Area

Vacancy Rate (SF)

Asking Rent (Class A $/SF)

Downtown

474,815

$20.13

Central Dodge

174,605

$23.10

Miracle Hills

51,381

$20.75

Regency

108,360

$29.57

South Central

621,055

$24.40

Southwest

203,215

$19.73

Source:  Colliers International Omaha Metro Area Research and Forecast Report Q2 2013         

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By: James Osgood

Office Rental , Office Space , Office Vacancy Rate , Omaha Office Space