Investors Realty Inc. – Q2 2016 Office Report

Investors Realty Inc. – Q2 2016 Office Report

OFFICE MARKET HIGHLIGHTS:

  • Through the second quarter of 2016, the Omaha office market experienced 126,877 square feet of direct absorption, while direct vacancy fell half of a percentage point to 11.4%.
  • The average asking rate for full service gross listings is $19.00 per square foot, up $.86 per square foot over last year.
  • The Old Mill market experienced the largest net gains of the quarter with 69,037 square feet absorbed, while the Southeast market experienced the largest net losses with -27,885 square feet absorbed.
  • Class B office space out performed both Class A and Class C products this quarter, with a total of 107,215 square feet of direct net absorption, compared to 15,868 square feet of direct net absorption for Class A, and 3,794 square feet of direct net absorption for Class C.
  • Treehouse Foods leased 70,994 square feet at 10825 Farnam Drive, the company relocated from several smaller suites located at the Conagra campus on World Communication Drive.
Download the complete report at http://files.investorsomaha.com/download/OmahaOfficeReport_Q2_2016.pdf