Omaha Retail Figures Q1 2026

Vacancy increased 20 basis points to 6.2% quarter-over-quarter, is 10 basis points higher than one year ago, and 50 basis points lower than three years ago. Vacancy in the Omaha market is 290 basis points lower than at the height of the Covid-19 pandemic in 2020.

After annual net absorption of positive 121,956 square feet in 2025, net absorption in the Omaha retail market was negative 14,357 square feet in the first quarter of the year.

Zero properties 10,000 sq. ft. or greater in size delivered to the Omaha market in the fourth quarter. 

There are ten properties totaling 489,753 sq. ft. under construction in the Omaha market. Approximately 66% of this space is either pre-leased or build-to-suit space. By submarket, approximately 47.6% of the space under construction is located in the West Dodge Corridor submarket. 

Average asking rents are $16.86 per square foot on a triple net basis, which is $0.07, or 0.4%, higher than the fourth quarter of 2025 and $0.80, or 5.0% higher than one year ago.