Q1 2022 Omaha Office Market Research Report

Office rents in the Omaha Market were rising at a 1.0% annual rate during the second quarter of 2022, and have posted an average annual gain of 1.7% over the past three years. In addition to 1.8 million SF that has delivered over the past three years (a cumulative inventory expansion of 4.0%), there is 420,000 SF currently underway. Vacancies in the metro were a bit above the 10-year average as of 2022 Q2, but were essentially flat over the past four quarters.