2020 Office Space Rent & Sales
- $23.78 2020 Avg. Asking Rent
- 6.62% 2020 Office Vacancy Rate
- $79M2020 Total Office Sales
- $112.70Avg. Sale Price/SF
Omaha office price per square foot in 2020 was $23.78 on average. The local office market recorded an average vacancy rate of 6.62% across all asset classes combined. The 7 transactions that closed here throughout 2020 amounted to a total sale volume of $79M. Omaha office space commanded an average sale price per square foot of $112.70.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Omaha Class A Office Space$25.08
- Omaha Class B Office Space$22.39
- Omaha Class C Office Space$19.92
- Nebraska Class A Office Space$24.77
- Nebraska Class B Office Space$21.01
Omaha, NE Office Asking Rents by Class
2020 Office Vacancy Rates in Omaha
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
West Dodge Corridor | $24.73 | 7.40% |
Southwest | $23.99 | 4.71% |
South Central | $20.87 | 7.35% |
Downtown | $20.62 | 6.87% |
Northwest | $20.24 | 6.46% |
Omaha Office Sale Price per SF
- $112.702020 Avg. Price per SF
- $79M2020 Office Sales Volume
- 72020 Number of Transactions
Omaha, NE Sale Price per SF Trend
- Omaha Avg. Sale Price per SF in 2020$112.70
- Nebraska Avg. Sale Price per SF in 2020$155.57
2020 Office Sales Volume
- Omaha, NE Total Office Sales Volume in 2020 $79M
- Omaha, NE Total Number of Office Sales Closed in 2020 7
Largest Omaha Office Sales in 2020
Property name | Address | Date | Price |
---|---|---|---|
Village Pointe - Building 111 | 111 North 175th Street | 1/15/2020 | $40,000,000 |
Village Pointe - Building 110 | 110 North 175th Street | 1/16/2020 | $30,065,000 |
Farnam Tech Center | 10826 Farnam Drive | 1/24/2020 | $15,500,000 |
9805 Q Street | 9805 Q Street | 3/17/2020 | $6,597,000 |
2020 South 156th Circle | 2020 South 156th Circle | 6/29/2020 | $6,000,000 |
2020 Office Construction in Omaha, NE
- Omaha, NE Total SF completed in 2020 377,422
- Omaha, NE Total SF under construction in 2021 838,000
During 2020, 377,422 square feet of new office space were delivered across the market. At the close of 2020, the Omaha office inventory included 4 buildings equal to or larger than 25,000 square feet, which comprised 377,422 square feet of office space. Looking forward, development activity throughout 2021 is estimated to add 838,000 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
Union Bank & Trust Building | 14400 Davenport Street, 68010 | 137,000 | 2022 |
1550 Mike Fahey Street | 1550 Mike Fahey Street, 68102 | 190,000 | 2021 |
Heartwood Preserve - 15000 Valmont Plaza | 15000 Valmont Plaza, 68154 | 150,530 | 2021 |
Sterling Ridge - Office Building C | 13033 Pierce Street, 68144 | 100,000 | 2021 |
Sterling Ridge - Office Building D | 13033 Pierce Street, 68144 | 100,000 | 2021 |
Millwork Commons - Ashton Building | 1218 Nicholas Street, 68102 | 187,240 | 2020 |
California Pointe | 13333 California Street, 68154 | 92,500 | 2020 |
Baxter Building | 17225 Burt Street, 68118 | 86,000 | 2020 |
The Offices at the Capitol District | 1100 Capitol Avenue, 68102 | 46,682 | 2020 |
West Dodge Hills Office Building II | 18205 Capitol Avenue, 68022 | 115,000 | 2019 |
Worth noting among recent office completions on the Omaha market is Union Bank & Trust Building, which is currently the largest new office development in the city, at 137,000 square feet.
See reports for nearby markets
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Omaha commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.