Omaha Office Figures Q4 2025

In Q4 2025 the Omaha Office market reported an overall vacancy rate of 10.2% in Q4 2025, which is 20 bps lower than the previous quarter, 20 bps lower than one year ago, and 90 bps higher than 3 years ago. 

Average asking rent was $27.08 per sq. ft. year gross at the close of Q4 2025, down 0.3% ($0.09) quarter-over-quarter, and up 3.8%, ($0.98) year-over-year. Over the last 3-years quarterly average asking rent was up 8.1% ($2.03). 

Net absorption was positive 18,181 sq. ft in Q4 2025, which represents the third quarter in a row of positive absorption. A total of 85,702 sq. ft. of positive net absorption occurred for the year after starting the year with negative absorption in the first quarter of 2025. Over the last 3 years cumulative net absorption was negative 403,354 sq. ft. 

Available sublease space was 1.5% in Q4 2025, a decrease of 60 bps quarter-over-quarter and a decrease of 20 bps year-over-year. Sublease availability is below the 3-year quarterly average and is 280 bps lower than three years ago.