Skip to main content Skip to footer

2021 | Q2 | Omaha | Office Market Report

Download Report
Omaha_Skyline_1536x1040

Positive Absorption and New Construction Fuel Omaha Office Market

The Omaha office market is rebounding from the Covid-19 crisis and experienced almost 200,000 square feet of positive absorption in the second quarter of 2021. This marks three straight quarters of positive absorption after three straight quarters of negative absorption in 2020. The vacancy rate increased slightly from 10.4 percent in the first quarter to 10.6 percent in the second quarter as the newly constructed buildings, referenced below, collectively delivered 16.3 percent vacant. Average asking rents are increasing and now sit at $23.88 per square foot on a full-service gross basis, which is $1.86 higher than last quarter and $1.54 higher than one year ago. Over 250,000 square feet of newly constructed office space was delivered to the market in the second quarter bringing the year-to-date delivered space to 579,830 square feet. An additional 664,000 square feet of office space are currently under construction.


Omaha, Office

2021 | Q2 | Omaha | Office Market Report

Download Report
Related Experts

Melissa Torrez

Director of Market Research | Omaha

Omaha

Melissa has over 19 years of commercial real estate market research experience. She is responsible for the oversight of the market research function for Colliers International | Omaha. Melissa prides herself in providing information and analysis that is meaningful and powerful to the decision making of commercial real estate brokers and clients of Colliers International | Omaha. 

Her responsibilities include the production and authoring of quarterly statistical market publications, tracking and reporting commercial sales and leases in the market, mapping, and providing demographic, economic, traffic count and sales lead data.

Melissa assists clients with multi-market site selection projects. She designed, built and maintains a proprietary economic index across all U.S. metropolitan areas and for the local market.

She is proficient in implementing process improvement strategies for commercial real estate both internally and for clients.

View expert

Mike Potthoff

President, Principal |Omaha

Omaha

Mike joined Colliers International in 2015 with a strong ability to build relationships through his high level of initiative and extremely strong work ethic. After successfully commanding his position as Vice President, Director of Brokerage, Mike was promoted to President of Colliers | Omaha in 2019. In his role as president, Potthoff directs the operational excellence of the entire firm while concentrating on the development of new business as well as maintaining strong client relationships. Most importantly, Potthoff focuses on gaining market share and providing expert commercial real estate insight. 

View expert

Adam Marek

Vice President | Omaha

Omaha

Adam joined Colliers International in January 2008 as an associate with the advisory services group. He brings with him almost two decades of commercial real estate knowledge. His experience lies in both retail and commercial sales, leasing and management. Adam’s understanding of the commercial real estate environment allows him to provide his clients with the best possible advisory services available in the marketplace.

Prior to joining Colliers, Adam worked as a brokerage associate at a local commercial real estate firm assisting national and local clients with site selection and excess space disposition. He completed a multitude of leases for both tenants and landlords as well as a number of investment sales.

 

Adam began his commercial real estate career as a property manager dedicating himself to the day-to-day responsibilities of eight to ten retail shopping centers in Omaha totaling over 500,000 square feet. Not only was he accountable for the physical condition and the financial performance of the properties, but he was also responsible for the marketing of the available space.‚Äč

View expert