2017 On Track For Continued Growth
The Omaha industrial market kicks off 2017 with 117,443 square feet of positive absorption for the first quarter, representing the third quarter in a row of absorption greater than 100,000 square feet. Vacancy held steady at 3.1 percent, 250 basis points lower than the national industrial vacancy rate of 5.6 percent. Over 88,356 square feet of new construction was delivered for the quarter while another 1,068,000 square feet are currently under construction. For three straight quarters, average asking rents are greater than $5.00 per square foot at the market level and for all property types; flex, light industrial and warehouse.