Market Reports

Omaha Industrial Market: When Limited Supply Meets High Demand

by Kristin Harlow May 21, 2026

By Kevin Stratman, Investors Realty The Omaha industrial market is essentially at full occupancy. Since 2016, the approximately 115 million-square-foot industrial market in Omaha has grown by an average of 3 to 4 million square feet per year. Yet, for a number of reasons, vacancy has consistently hovered around 3 percent. Activity to start 2026 has created a real problem. In just the first quarter of the year, the market transacted over 1.3 million square feet across six properties. As a result, an already constrained vacancy rate is now approaching a critical point. The roots of this issue trace back to 2024. That year, only four speculative construction projects over 100,000 square feet broke ground. For years, Omaha has faced ongoing sewer infrastructure challenges that have limited development in key areas. At the same time, construction costs approached peak levels, and land prices escalated rapidly. This was driven in part by major build-to-suit activity from users such as FedEx and Amazon, as well as large-scale data center developments from Meta and Google, which collectively absorbed thousands of acres of land. Given these conditions, developers made a logical decision to pause after what had been a historic run of construction. That …

May 21, 2026

Leasing Activity Market Reports New Jersey Northeast Northeast Market Reports Retail

New Jersey Retail: The Juice Is Worth The Squeeze

by Taylor Williams May 20, 2026

By Taylor Williams Much like the two major cities that border its northern and southern ends, New Jersey is, for retailers, restaurant groups and entertainment operators that are serious about establishing and growing national footprints, a market that checks every key box. Yet for all the similarities between the Manhattan or Center City Philadelphia retail markets that also apply to New Jersey — tight availability of space, high rents, time-consuming regulatory processes, strong residential density, healthy disposable incomes — brokers and owners that call the Garden State home also know that it’s a market unto itself. “Northern New Jersey is not the same as New York City,” confirms John Azarian, CEO of The Azarian Group, a longtime owner-operator of shopping centers in New Jersey and New York. “Retailers that want to venture into New York City want a different environment, and while we have a lot of density in Northern New Jersey, it’s just not the same as New York City. But if retailers are willing to do deals with different [store] formats, their businesses can do just as well here.” Kevin Pelio, Azarian’s executive vice president of leasing, says that tenants that started in other parts of the country …

May 20, 2026

Market Reports Multifamily Office Texas Texas Market Reports

The Dawn of Y’all Street: What the Texas Stock Exchange Means for Big D

by Taylor Williams May 19, 2026

By Garrett Karam, chief investment officer, EMBREY The Texas Stock Exchange (TXSE) represents the most serious attempt in 55 years to challenge the NYSE-Nasdaq duopoly and signals something that has not happened in generations: New York City’s monopoly on exchange infrastructure now has a credible challenger. As the TXSE prepares to launch in phases through 2026, EMBREY, a San Antonio-based investment and development firm, shares insights on how the exchange could further reinforce Dallas-Fort Worth’s (DFW) emergence as one of the country’s most important financial and economic centers. We also consider the direct implications for long-term economic growth and multifamily demand correlated to the launch of TXSE. Announced in 2024 and approved by the SEC in 2025, the TXSE has already raised more than $270 million from institutions including BlackRock, Citadel Securities, J.P. Morgan, Goldman Sachs, Bank of America and Charles Schwab. The exchange’s pitch to public companies centers around lower listing costs, fewer prescriptive requirements and a governance framework designed for operators. Combined with the state’s broader efforts to position itself as an increasingly attractive destination for business and corporate investment, the TXSE reinforces a larger shift already underway across North Texas. The exchange arrives at a time in …

May 19, 2026

Market Reports Maryland Restaurant Retail Southeast Southeast Market Reports

Retail Leasing, Development Activity ‘Slow and Steady’ in Baltimore Market

by John Nelson May 18, 2026

Mirroring conditions nationally due to elevated interest rates, associated higher construction costs and general economic and geopolitical uncertainties, the volume of retail leasing and new development activity remains “slow and steady” in the greater Baltimore metropolitan region. The collective business and real estate communities remain optimistic for a rebound later this year, given the robust fundamentals that remain constant locally and the lessons learned during a tepid first-quarter 2025, which was followed by an over-performing remainder of the year. We expect the same to occur in 2026, with robust third and fourth quarters on the horizon later this year. Interest rate complexities Although interest rates have declined somewhat over the past year, the continued elevated climate has made all phases of the retail industry more expensive and forced developers and retailers to take a brief pause or to dig deeper for projected returns. More specifically, this has placed a halt on the future development of several new shopping centers in the Baltimore area due to higher financing costs, and multiple local retailers are also rethinking expansion plans because of steeper Small Business Administration and local banking loans. Separate retail centers in Harford and Howard counties — after being designed and …

May 18, 2026

Market Reports Midwest Midwest Market Reports Nebraska Retail

New Development, Backfill Activity Fuel Omaha Retail Market Momentum

by Kristin Harlow May 14, 2026

By Mandi Backhaus-Barr, The Lerner Company As they say, when one door closes, another one opens, and the same is true in commercial real estate. In 2025, the Omaha market experienced a plethora of activity, from store closures to quick backfills, and numerous new developments either announced, commenced or completed. Omaha’s market continues to demonstrate strong momentum, showing little sign of slowing down. This strength was reinforced when the metro-area population recently surpassed the 1 million mark, a milestone that appears to carry more weight with retailers than slightly lower population figures. As a result, the market has responded positively, with year-over-year asking rents increasing by 5.4 percent. Despite rapid growth and development across the city, Omaha’s core market fundamentals remain solid. From a retail standpoint, we are seeing retailers continue to test new formats and refine their store footprints, while a recent wave of international brands has begun entering the U.S. market, signaling a new level of global interest and underscoring the growing appeal of well-positioned retail environments. Additionally, the consumer is still spending, just differently. Beauty, footwear and apparel are categories with strong momentum. The trend of mid-tier retailers being squeezed into an increasingly polarized market, where value-focused …

May 14, 2026

Industrial Market Reports Maryland Southeast Southeast Market Reports

Baltimore Industrial Recalibration: Driven by New Supply and Selective Leasing

by John Nelson May 11, 2026

Baltimore’s industrial market entered the first quarter of 2026 in what some are describing as a correctional rather than a contractional phase, with CoStar Group recently characterizing the market as undergoing a “sharp correction” driven by rising vacancy, elevated supply and slower leasing activity. Vacancy reports vary but the rate is hovering at approximately 9.7 percent as leasing teams worked to absorb approximately 3.2 million square feet of new deliveries over the past 12 months. Trailing absorption is negative at approximately 2.4 million square feet, reflecting a slowdown rather than a disappearance of demand, according to CoStar. New development pipelines remain active at 2.1 million square feet and new starts are moderating, signaling that developers are adjusting to conditions. In recent years, a series of events in Baltimore City made headlines and positioned the region in the worst possible way, and “Charm City” remains misunderstood in the minds of outsiders through the lens of these news articles. But, earlier this year, a substantial influx of institutional capital turned heads when making a decisive bet on the greater metropolitan area. A joint venture between Camber Real Estate Partners and PGIM Real Estate acquired a seven-building infill industrial portfolio at a 5.75 …

May 11, 2026

Market Reports Restaurant Retail Utah Western Western Market Reports

Salt Lake City’s New Wave of Urban Retail

by John Nelson May 8, 2026

— By Tanner Olson of Legend Commercial — Downtown Salt Lake City has undergone a meaningful transformation over the past decade. The growth of ground-floor mixed-use retail, a rapidly expanding bar and restaurant scene, and the arrival of nationally recognized brands such as STK Steakhouse, the Capital Grille, Uchi and concepts affiliated with Fox Restaurant Concepts reflect a maturing urban core. At the same time, local operators such as Aker, Matteo, Urban Hill and many others have elevated the city’s culinary identity, with homegrown concepts adding depth and authenticity to the market. It was only 15 years ago that Salt Lake largely functioned as a commuter-based retail environment. Consumers prioritized surface parking and drive-thru convenience. Downtown activity outside of peak weekend hours was limited, while urban living lacked the density and vibrancy needed to support consistent retail demand. That dynamic has shifted. Today, tens of thousands of multifamily units have been delivered in and around the CBD, accompanied by hundreds of thousands of square feet of ground-floor retail. Just two to three years ago, downtown contained roughly 200,000 square feet of available mixed-use retail space, fragmented across 60 to 70 small-format spaces. Filling that space required not just tenants, but …

May 8, 2026

Market Reports Midwest Midwest Market Reports Mixed-Use Nebraska

How Is Music Helping Midwest Cities Find Their Rhythm?

by Kristin Harlow May 7, 2026

By Leirion Gaylor Baird, Mayor of Lincoln, Nebraska All roads lead to Lincoln. Located midway between Chicago and Denver, our capital city has long served as a crossroads for touring legends, local artists and fans who pack historic music venues night after night. Our live music scene has grown organically in bars, theaters and alleyways, becoming a defining part of our civic DNA. Now, Lincoln is intentionally amplifying this authentic strength and sound. Through the creation of the Boehmer Street music district, the City of Lincoln, in partnership with the Downtown Lincoln Association and with support from the Nebraska Department of Economic Development, is investing in assets that define our unique cultural landscape. This effort advances a longstanding plan to designate a music district as a downtown catalyst. Our vision is to convert underutilized downtown space into active, mixed-use momentum that grows economic opportunity, strengthens quality of life and brings renewed vitality to our urban core. Anchor culture, community The Boehmer Street music district links three major geographic anchors — the University of Nebraska–Lincoln campus, the State Capitol and our iconic main street — to form a walkable corridor. Longstanding, thriving music venues, including the Zoo Bar, The Bourbon Theatre, …

May 7, 2026

Industrial Market Reports Texas Texas Market Reports

Building Bifurcation: A New Framework for Evaluating Industrial Real Estate in Texas

by Taylor Williams May 5, 2026

By Taylor Williams Defined by Gemini as “the division of a system, structure or entity into two distinct branches or parts,” the term “bifurcation” is coming up more frequently in the context of industrial development in Texas — a sort of umbrella term for the process of establishing new subcategories of the property type. The past seven or so years have constituted one of the most massive industrial building booms in modern history. Like matches and gasoline, Americans’ newfound obsession with e-commerce paired with unimaginably low interest rates for much of that time, sparking an all-out industrial development and leasing mania. Capital flowed into the sector with insatiable appetite, eventually forcing yield-chasers to devise new means of unlocking value within the space lest they cannibalize each other. Of course, even before e-commerce irrevocably changed the way Americans shop and allowed industrial real estate to ascend as an institutionalized asset class, functional differences were recognized between manufacturing and distribution facilities, or between pure-play industrial and flex buildings. Investors understood the relative differences in how these subcategories of industrial product were built, operated and valued. And in terms of development, at the most basic level, the size of a building has always …

May 5, 2026

Alabama Market Reports Office Southeast Southeast Market Reports

Birmingham’s Office Market: Stabilizing, Adapting and Gaining Momentum

by John Nelson May 4, 2026

We hear this question a lot: “How is commercial real estate doing in Birmingham?” Many people assume our market is experiencing the same volatility seen in national headlines over the past few years. The reality is a bit different. Birmingham is actually a stable market. While we certainly feel broader economic shifts, our office sector has avoided many of the dramatic swings seen in larger metro areas and is gradually positioning itself for future growth. To set the stage, Birmingham’s office market consists of approximately 18.8 million square feet of multi-tenant inventory across five submarkets, four of which include Class A properties. Overall absorption for fourth-quarter 2025 totaled negative 35,336 square feet following a positive third quarter. However, the market still finished the year with 56,786 square feet of positive net absorption. Occupancy remained largely stable throughout the year, with the overall vacancy rate holding at 19.8 percent. Direct vacancy improved slightly to 16.6 percent by year-end. Leasing activity also remained steady across the market. In total, 640,255 square feet of office space was leased in 2025, representing an approximately 14 percent increase compared to the amount of office space leased in 2024. Class A transactions accounted for more than …

May 4, 2026

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