Small Shop & Non-Traditional Users Active in the Retail Market
The Omaha retail market landed at a vacancy rate of 9.3 percent for the first quarter of 2019. This represents an increase of 60 basis points from the 8.7 percent vacancy rate in the fourth quarter of 2018. Vacancy has increased 90 basis points from the first quarter of 2018 and 190 basis points from the first quarter of 2017. There was 31,393 square feet of negative absorption for the quarter and only 9,866 square feet of newly constructed retail space delivered to the market.