Omaha Retail Figures Q4 2022

Market Summary

‒ Omaha retail market vacancy fell 40 basis points to 6.5% in the fourth quarter, which is 130 basis points lower than in the fourth quarter of 2021 and 260 basis points lower than pre-pandemic levels in the fourth quarter of 2019.

‒ The Omaha retail market experienced 32,961 square feet of positive absorption in the fourth quarter and 551,009 square feet for the entire year.

‒ Two properties totaling 102,133 square feet delivered to the market in the fourth quarter and nine properties totaling 246,204 square feet were completed during 2022.

‒ Floor & Décor, an 80,133 square foot home furnishing store, opened just west of Nebraska Furniture Mart at 72nd & Jones Street.

‒ REI, a 22,000 square foot outdoor recreation retailer, opened in the Nebraska Crossing Outlet Mall.

‒ Average asking rents are $13.82 per square foot on a triple net basis, which are $0.89, or 6.9%, higher than the beginning of 2022.