Greater Omaha has an abundant supply of reasonably priced industrial and office locations within established business parks. Sites are also readily available to serve the needs of firms. With the existing parks and raw land, Greater Omaha can satisfy the largest industrial, commercial or office site requirements.

Land

From suburban sites to urban redevelopment sites, Greater Omaha has nearly 10,000 acres available for immediate development. Sites with proximity to interstate, rail, barge or international freight service are also available. Average land prices range from $2.00 to $4.00 per square foot for industrial land, and $4.00 to $6.00 per square foot for office parks.

Industrial Buildings

According to the 2008 Building Owners and Managers Association of Omaha (BOMA), Omaha has approximately 47,500,000 square feet of industrial space available to the local market in 2008 with a vacancy rate of 7.6 percent. Industrial lease rates vary depending on size, location and amenities but annual lease rates generally range from $3.35-$6.00 per square foot.

Office Parks

Greater Omaha has seen a tremendous growth in office development since the mid-1990s. Downtown has announced more than $2 billion of projects announced, completed or under construction. The suburban office market continues to surge along major east-west corridors in west Omaha and in several areas in Sarpy County. New mixed development business parks ranging from 20 acres to over 300 acres have been announced or are currently being developed.

According to the 2008 Building Owners and Managers Association of Omaha (BOMA), there is a total of 13,700,000 square feet of office space in the Omaha market with a vacancy rate of 15.3 percent. The average office space lease rates are approximately $17.50 per square foot for Class B space, and $20.62 for Class A space. The table below examines the office space market in various sections of the metropolitan area.

Greater Omaha Office Space Summary
Location	Total SF	Available SF	2008 Vacancy	Average Rents
Downtown	4,039,907	679,070	16.80%	$17.58
Southwest (Sarpy County)	1,878,495	245,347	13.10%	$20.43
West Dodge Corridor East	1,686,283	306,276	18.20%	$19.76
Old Mill Office Park	1,255,589	195,378	15.60%	$17.96
West Dodge Corridor West	1,154,685	127,357	11.00%	$23.17
West Maple Corridor & NW	975,308	118,504	12.20%	$20.86
Regency Office Park	937,414	38,451	4.60%	$21.03
Miracle Hills Park	714,352	37,520	5.30%	$19.32
72^nd Street Corridor	612,537	190,618	31.10%	$20.71
Bellevue (Sarpy County)	582,735	168,431	28.90%	$20.02
Total	13,737,305	2,106,952	15.30%	19.06
Source: 2008 Commercial Real Estate Market Guide, Building Owners and Managers Association of Omaha (BOMA)

Retail Space

According to the BOMA leasing guide, there is a total of 24,400,000 square feet in the Omaha area. Currently, there is about 2.3 million square feet of retail space available throughout the metro area. The retail vacancy rate for 2008 was 9.45 percent.

For current information on available sites and buildings, please visit our searchable database powered by Loopnet.

Available Services and Assistance

The Greater Omaha Economic Development Partnership maintains a cooperative effort of Omaha's public and private sectors, and is ready to assist new or expanding businesses which are serious about a Greater Omaha location. Please contact us for further information and confidential assistance:

Mark Norman, Senior Director, Business Attraction
(402) 233-7143 or mnorman@selectgreateromaha.com.