Omaha 1Q2017 Market Report
Industrial space is particularly healthy as the rapidly expanding e-commerce economy continues to eat up office space. Industrial vacancy remains near historic lows despite a fair amount of new construction.
Office real estate has been rather steady but moving in a positive direction lately. The largest office move this quarter occurred when Kiewit occupied its newly constructed Kiewit University building at 1450 Mike Fahey Street in North Downtown.
As we are seeing nationwide, the retail market continues to soften, but it’s still healthy. The largest positive moves included TJ Maxx, HomeGoods and Sierra Trading Post together taking 60,000 square feet of former Kmart space northwest of 132nd & West Maple Road. Dallas-based Urban Air Trampoline Park is taking more than 31,000 square feet inside a former Bag N Save store at 156th & Q. Newto-the-market Ross Dress for Less will take 23,732 square feet at L Street Marketplace. There were two major retail defections on
the North 90th Street corridor during the first quarter as Gordmans abandoned 77,000 square feet at 5808 North 90th Street and Shopko walked away from 90,000 square feet at 5646 North 90th Street.