Big Box Closures Move Vacancy Rate Slightly Higher

The Omaha retail vacancy rate for the second quarter increased 50 basis points from 8.1 percent in the first quarter to 8.6 percent in the second quarter. Negative absorption for the quarter is 36,373 square feet, bringing year-to-date absorption to negative 50,871 square feet. This represents two quarters in a row, and four out of the past nine quarters, of negative net absorption for the Omaha market.