Greater Omaha has an abundant supply of both industrial and office locations within developed office and industrial parks. Individual sites are also readily available to serve the needs of firms. With the existing parks and the supply of raw land which encircles area, Greater Omaha can satisfy the largest industrial, commercial or office site requirements.

Below is more information on the following specific areas: Land, Industrial Buildings, Office Parks and Retail Space.

Land

Greater Omaha has reasonably priced industrial land in developed business parks throughout the area. 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 $3.50 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 throughout the area. The Central Business District has 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)

Construction of a new building is always an option in Greater Omaha. Greater Omaha offers very competitive construction costs, as shown in the table below.

Construction Cost Index (CCI)
City	Index
San Francisco, CA	201.1
Chicago, IL	186.5
Minneapolis, MN	184.5
Rochester, MN	171.4
St. Louis, MO	170.6
Kansas City, MO	169.0
Peoria, IL	166.0
Madison, WI	160.7
Denver, CO	155.9
Baltimore, MD	152.5
Omaha, NE	150.3
Des Moines, IA	148.9
Atlanta, GA	148.0
Phoenix, AZ	147.7
Cheyenne, WY	141.3
NOTE: A construction cost index number is a percentage ratio of a cost at a stated time to the national average cost of the same item at a base period. The base period used for this index is January 1, 1993. In other words, these index figures represent relative construction factors (or if you prefer, multipliers).
Source: Cost, Planning & Management Int'l Inc., Means Construction Cost Indexes (CCI)

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 at http://www.selectgreateromaha.com/LoopNet.aspx.

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.