Omaha Office Market Continues Its Resiliency

The Omaha office market experienced positive absorption of 180,895 square feet for the fourth quarter of 2016, bringing year-to-date net absorption to 231,231 square feet. Average annual absorption over the last ten years is approximately 250,000 square feet; accordingly, 2016 finished near the ten-year benchmark for annual absorption. The positive absorption affected the vacancy rate bringing the overall vacancy to 10.9 percent, down from 11.9 percent at the end of third quarter in 2016 and equal to the vacancy rate at the end of 2015.