Q3 2018 Omaha Office Market Report

The Omaha/Council Bluffs Office market ended the third quarter 2018 with a vacancy rate of 6.4%. The vacancy rate was up over the previous quarter, with net absorption totaling positive 4,323 square feet in the third quarter. Vacant sublease space increased in the quarter, ending the quarter at 163,236 square feet. Rental rates ended the third quarter at $16.89, an increase over the previous quarter. A total of two buildings delivered to the market in the quarter totaling 125,000 square feet, with 776,843 square feet still under construction at the end of the quarter.