REBusinessOnline

National, Regional Investors Are Drawn to Omaha’s Apartment Market

With asking rental rates increasing, an average vacancy rate of 5.7 percent and a low average asking rent per unit of just $855 per month, Omaha’s apartment market is increasingly attractive to national and regional investors. According to apartment research firm Reis, Omaha’s average asking rental rate has increased in every quarter for the past seven years, and is expected to increase by another 2.2 percent in 2018.  While not stellar growth, it continues a steady march upward that …

How the Omaha Retail Market Is Adapting to Big Box Store Closures

The pace of evolution in the retail sector is accelerating in a manner that few would have anticipated even five years ago. E-commerce has proven to be a very powerful disruptor, affecting both retailers and property owners alike. For some who have had the foresight and financial resources to adapt to this change, the disruption has brought opportunities for growth and increased market share. Clearly, not all have been able to adapt — some due to lack of execution and others seemingly …

Why Omaha Multifamily Market Is Golden for Investor Opportunities

The national love affair with the multifamily sector may be starting to cool, but the Omaha market is just coming of age and heating up. “Overall, it was a strong third quarter, which was a nice surprise,”said Michael Cohen, CoStar Group director of advisory services, during his State of the Multifamily Market Third Quarter Review and Outlook on Nov. 1. “We’re still in the golden age for multifamily, but we're seeing signs of a gradual slowdown in the apartment market.” [caption …

New Construction Starts, Low Vacancies Further Omaha’s Industrial Success

Similar to the past couple of years, it is difficult to identify one or two items to highlight about the Omaha industrial market. Although the most impressive improvement might be the amount of new construction starts in 2016, factors such as sales prices per square foot, number of overall transactions, average asking rents, vacancy rates, landlord concessions all trended in a favorable direction for owners of industrial properties. This has been a staggering year- over-year trend, which has …

Omaha’s Strong Apartment Fundamentals Draw National Attention of Investors

With an average occupancy rate of 96 percent at the end of 2016, coupled with a four percent growth in asking rental rates during 2016, Omaha’s apartment market continues to be a strong performer. According to apartment data research firm Reis, Omaha’s average asking rental rate has increased in every quarter for the past 23 quarters, and is expected to increase 3.6 percent in 2017. On the occupancy front, Reis expects the vacancy rate to finish 2017 slightly higher at 4.9 percent, which …

Why Omaha Apartment Owners Should Expect Another Banner Year

With a three-year average occupancy of 96 percent, Omaha’s apartment market has displayed strong fundamentals that we expect to continue this year and beyond. Given the strong tailwinds created by Omaha’s healthy economy — the local unemployment rate stood at 3.6 percent in January compared with 4.9 percent nationally — it is not surprising that occupancy is high, rents and revenues are rising and new developments continue. According to the recently released IREM fall 2015 Omaha …

Omaha’s Thriving Industrial Market Shows No Signs of Slowing Down

It is difficult to find one aspect of the Omaha industrial market to highlight when recapping 2015. Quite frankly, about every single facet of the market improved last year: sale prices ticked up, land prices rose, absorption was positive, the vacancy rate was low, asking rental rates climbed, and there was plenty of new construction. There are no signs of this momentum slowing. What is even more telling is the steady trend in the same direction — the market has shown signs of improvement …

Why The Performance of Omaha’s Apartment Market Continues to Excel

[caption id="attachment_130714" align="alignright" width="100"] Ed Fleming, Colliers International[/caption]Just like Omaha’s diverse and strong economy — a 3.2 percent unemployment rate as of December 2014 — the local apartment market continues to shine. Occupancy remains high, rents are up significantly over the past year as additional charges continue to be passed through to tenants, and new construction has not yet overtaken demand. In short, 2014 was another golden year for …

New Industrial Parks Will Help Ease Tight Market Conditions in Omaha

[caption id="attachment_130253" align="alignright" width="120"] Kevin Stratman, Investors Realty Inc. [/caption]For years the Omaha industrial market — approximately 68 million square feet strong — seemed to be slow and steady. When the market tightened, developers were still able to meet demand. Over the past 15 years, companies looking to construct new facilities have historically had an ample number of options in which to relocate along I-80 in the southwest part of the metro area. …

Expanding Omaha Businesses Fuel Construction of Class A Office Space

[caption id="attachment_124152" align="alignright" width="100"] Tim Kerrigan, Investors Realty Inc.[/caption]Omaha’s office market finds itself in a favorable position at the start of 2015. Local economic indicators are solid, absorption has been positive year over year, and vacancies across the board are declining. One big reason is that Omaha businesses are growing. The low vacancy rate of Class A space is driving an appropriate amount of new construction, and Omaha’s abundant supply of …

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