Omaha, Nebraska’s industrial sector started 2025 with robust growth across nearly every category. In the first quarter, net absorption soared to 477,000 square feet—an increase of more than 22 times compared to just 21,600 square feet in the previous quarter.
In addition, vacancy dropped by 50 basis points to three percent, which, according to Colliers, signals "tightening conditions across the metro. "
"Several move-ins took place this quarter, including two over 100,000 square feet. OTR Engineered Solutions leased 153,000 square feet at 5902 North 9th Street, with Colliers representing the tenant in the transaction," the CRE firm said.
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"Wesco, an electrical supply distribution company, also occupied 109,720 square feet at R&R Commerce Park South Warehouse II, located at 11950 S 153rd Street."
Units under construction decreased dramatically to 838,500 units compared with 3.97 million in the previous three quarters.
Meanwhile, asking lease rates were the only category to decline. After hitting a record high of $7.71 per square foot NNN in the fourth quarter, they fell to $7.29 in the first quarter.
"This decrease comes amid sustained demand for functional, well-located industrial space, fueled by Omaha’s strategic location as a logistics and distribution hub in the Midwest," Colliers wrote in further context.
As things stand, Colliers noted that Omaha's industrial sector and economy remain strong. The city's unemployment rate of three percent, as of February, ranks the fifth lowest in the country, according to Colliers. However, the CRE firm does warn that challenges could lie ahead due to the Trump administration's trade policy as business leaders lose confidence in the economy.
"The foundation of the Nebraska economy will be tested, as the ongoing trade disputes will impact the agricultural sector especially hard," Colliers said.
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