2019 | Q4 | Omaha | Industrial Market Report

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One Million Square Feet of New Space Drives Record High Asking Rent 

2019 started with the first two quarters having negative absorption however the year ended with over 600,000 square feet of annual positive absorption with most of that occurring in the fourth quarter. Over 950,000 square feet of newly constructed industrial space was delivered to the Omaha industrial market in the fourth quarter bringing the annual total to over 1.2 million square feet.  This additional product drove rents to a record high average asking rent of $6.83 per square foot for the Omaha industrial market. This represents stunning growth of $1.03 per square foot from the fourth quarter of 2018 and an increase of $1.28 per square foot from the fourth quarter of 2017. The vacancy rate remains at 3.1 percent which is 30 basis points lower than the fourth quarter of 2018.  Almost 800,000 square feet of industrial product is currently under construction in the Omaha market.


Omaha, Industrial

2019 | Q4 | Omaha | Industrial Market Report

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Melissa Torrez

Director of Market Research | Omaha

Omaha

Melissa has over 19 years of commercial real estate market research experience. She is responsible for the oversight of the market research function for Colliers International | Omaha. Melissa prides herself in providing information and analysis that is meaningful and powerful to the decision making of commercial real estate brokers and clients of Colliers International | Omaha. 

Her responsibilities include the production and authoring of quarterly statistical market publications, tracking and reporting commercial sales and leases in the market, mapping, and providing demographic, economic, traffic count and sales lead data.

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Cori Adcock

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Cori joined the Colliers International team in 2011 as an Associate with the brokerage services team. She brings with her an extensive list of professional experience and knowledge gained during her 20+ years building client relationships for a national van line. Cori’s experience includes project management for a long list of local as well as national clients where she was responsible for move management services for office and industrial clients.

Her background in commercial real estate began with commercial brokerage services in Maui, Hawaii where she developed both landlord and Tenant relationships. Cori has a very strong knowledge of the Omaha market and has successfully completed significant transactions for investment properties, 1031 exchanges, property sales as well as leasing services. Cori has had significant successes in increasing the value of under-performing properties for owners. Cori is a 2016 Colliers | Omaha Chairman's Club member and is also a CCIM candidate.

Cori is on the Industrial Advisory Board for Xceligent and co-authors Colliers Industrial Research and Forecast quarterly report. Cori stays active in the business community and is currently involved in several networking groups and executive clubs. She has held various leadership positions throughout her career including the roles of President, Vice President and secretary for a number of business development groups.

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Colm Breathnach

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Colm Breathnach joined Colliers International after a long and accomplished career in the construction industry. He focuses on the industrial commercial real estate market in Omaha and gives particular attention to providing advice to clients and colleagues relating to owner/developer and design build applications.

Colm’s commitment to excellence and high level of character is instrumental in his approach to relationships and negotiations. Furthermore, his exceptional analytical and problem resolution skills accelerate his value above and beyond client expectations.​

Prior to joining Colliers, Colm established himself as an industry expert in concrete at Enterprise Precast Concrete & Stonco. He generated record-setting increases in revenues and profitability as well as developed the innovative use of aggregates and admixtures in order to meet the visions of owners, architects and designers. Clients included: Kiewit Construction, JE Dunn, Turner, Weitz and Sampson Construction.

 

 

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