Omaha Office Figures Q3 2026

In Q3 2026, market conditions softened as occupancy contracted and leasing activity fell to the lowest level in the data series. Net absorption totaled negative 136,000 sq. ft., down from 7,000 sq. ft. in Q2 2026, and vacancy increased 60 basis points quarter-over-quarter, from 10.3% to 10.9%. Tenants signed leases totaling 150,000 sq. ft., compared with 270,000 sq. ft. in Q2 2026 and 370,000 sq. ft. in Q3 2025, marking the weakest quarterly leasing volume recorded. Construction activity remained measured, with 30,000 sq. ft. delivered and 159,000 sq. ft. still under construction, while average asking rents held flat at $28.07 per sq. ft., unchanged quarter-over-quarter.