New Construction Meets Demands in 2017
The Omaha industrial market experienced its strongest year since 2006 with over 1 million square feet of both absorption and new construction. The 1,110,536 square feet constructed in 2017 represents a 1.6 percent increase to the existing inventory. For the quarter, 307,000 square feet of new construction was added to the market and 455,995 square feet of positive absorption took place. The vacancy rate held steady at 3.4 percent, while more new construction is in the pipeline.