Q2 2022 Omaha Industrial Market Research Report

Industrial rents in the Omaha Market were rising at a 8.6% annual rate during the second quarter of 2022, and have posted an average annual gain of 5.0% over the past three years. In addition to 9.4 million SF that has delivered over the past three years (a cumulative inventory expansion of 10.1%), there is 1.9 million SF currently underway. Vacancies were basically in line with the 10-year average as of 2022 Q3, and were little changed over the past four quarters.

Non-farm payrolls were recently increasing at an annual rate of 2.7%, a gain of about 13,000 jobs, and the metro’s strongest rate of job creation in over a year.