Omaha Retail Figures Q1 2025

Vacancy rose by 30 basis points to 6.1% in the first quarter of 2025 and is 20 basis points lower than one year ago. Vacancy in the Omaha market is 240 basis points lower than five years ago, at the beginning of the Covid-19 pandemic.

Net absorption in the Omaha retail market was flat, posting only 10,605 square feet in the first quarter of the year.

Two properties totaling 27,740 square feet delivered to the market in the first quarter. Over 77% of this space was either pre-leased or build-to-suit space. Both properties are located in the Southwest submarket; one 10,000 square foot Dollar Tree and one 17,740 square foot strip center.

There are ten properties totaling 264,896 square feet under construction in the Omaha market. Over 22% of this space is either pre-leased or build-to-suit space. By submarket, over 80% of the space under construction is located in the West Maple Corridor submarket. 

Average asking rents are $16.06 per square foot on a triple net basis, which is $0.52, or 3.3%, higher than the fourth quarter of 2025 and $1.52, or 10.5% higher than one year ago.