Crexi Leads Omaha Commercial Real Estate into the Future

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When it comes to discovering commercial real estate opportunities, investors rely on data to make informed, profit-driving decisions. For years, the Omaha commercial real estate market has proven to be a stable, steadily growing region, ripe with opportunities that attracts brokers and principles alike. Crexi bridges the gap between the two parties, helping tenants, buyers, and brokers find the best deals in the market.

On any given day, buyers and tenants make up nearly 92% of Crexi web traffic, using the platform’s search tool to find Omaha properties that match their criteria. Thousands of brokers also use Crexi’s suite of sales and leasing tools to connect and transact with leads. 

Crexi’s goal is to centralize the transaction process in an online hub where commercial real estate buyers, brokers, tenants, and appraisers enjoy complete transparency throughout each deal. With over 330,000 properties listed and over $200 billion in facilitated transactions since its 2016 launch, Crexi is proud to serve Omaha as the fastest-growing online commercial real estate marketplace. 

The State of Omaha Commercial Real Estate

Home to Warren Buffet, the Oracle of Omaha, Omaha’s economic growth has made the region an envy of the nation. The metro area is home to over 45,000 businesses and Fortune 500 and Fortune 1000 headquarters. Residents and businesses thrive in Omaha, thanks to its pro-business climate with moderate taxes, high quality of life, and low living costs.

Located in East-Central Nebraska, the Omaha-Council Bluffs metropolitan area lies on both sides of the Missouri River in Nebraska and Iowa. 

The city was founded in 1854 and quickly grew into a major Midwestern transportation hub serving the railroad, brewery, and meatpacking industries. Today, the diverse economy of Omaha is powered by booming industry sectors, including financial services, construction, trade and transportation, and military and defense.

Although there are no major league sports teams in the metro area, Omaha is known worldwide for inventions like the TV dinner, Raisin Bran, Duncan Hines cake mix, Butter Brickle ice cream, and the Reuben sandwich. 

Omaha Regional Breakdown

According to the metropolitan area planning agency, the population of Omaha-Council Bluffs MSA area could grow by nearly 30% over the next 30 years. At some point, the region will need to begin growing upward instead of outward, in ways that positively influence the quality of living and the character of the neighborhoods:

  • Omaha is home to over 400,000 residents, with about 1.3 million residents living within a 50-mile radius of Downtown Omaha.
  • Omaha is the largest city in Nebraska and the second-largest city in the Great Plains Region, just behind Oklahoma City.
  • The population of Metropolitan Omaha has grown by 0.83% year-over-year and by about 13% over the past ten years.
  • Over the last year, Omaha property inventory on Crexi’s platform increased across asset classes except for Q4 2020, with land representing the most numerous asset.
  • Omaha-Council Bluffs metro area includes Douglas County (where the City of Omaha is located) and Sarpy, Cass, Saunders, Harrison, and Mills Counties.
  • The median age in Omaha is 36.1 years, with 52% of the population between the ages of 20 and 59.

The Omaha Job Market

Non-farm employment in the Omaha area has grown by nearly 34,000 jobs over the past 12 months, representing an employment increase of 7.3%. Employment sectors adding the most jobs include trade and transportation, education and health services, and leisure and hospitality:

  • The GDP of the Omaha-Council Bluffs, NE-IA MSA is $66.2 billion and has grown by more than 50% over the past decade.
  • Employment growth in the Omaha metropolitan area was -1.4% last year, while median household incomes grew by more than 5.1% year-over-year.
  • The unemployment rate in metro Omaha is 2.7% (May 2021).
  • Target industries in Omaha include MedTech and life sciences, financial services, logistics and manufacturing, agribusiness and biochem, and military and defense.
  • The region is home to nationally acclaimed medical centers and one of four biocontainment units in the country.
  • Metropolitan Omaha ranks among the nation’s largest cities with billionaires and is home to Warren Buffet and Berkshire Hathaway.
  • Omaha’s prime central location makes the metro area the perfect hub for moving people or products.
  • Along with more than 65 defense-related businesses, Offutt Air Force Base is proud to call Omaha home.
  • The biggest employers in the Omaha region include PayPal, TD. Ameritrade, Mutual of Omaha, Union Pacific Railroad, Nebraska Medical, Creighton University, Offutt AFB, and Horseshoe Casino Council Bluffs.
  • Fortune 500 and major corporations headquartered in Omaha include Berkshire Hathaway, Union Pacific Railroad, Kiewit Corporation, Gallup Organization, First Data, LinkedIn, and Conagra Brands.
  • The number of college graduates residing in Omaha is 4.2% higher than the national average, providing high-tech employers with a skilled labor force.
  • Major colleges and universities in the Omaha Region include the University of Nebraska Omaha, the University of Nebraska Medical Center, and Creighton University.
  • Nearly 93% of Omaha residents are high school graduates or higher, while 38% hold a bachelor’s or an advanced degree (about 10% higher than the rate in the US).

Omaha’s transportation infrastructure includes five major interstate highways and roadways, mass transit and passenger rail service, and freight rail service. Eppley Airfield in Omaha offers non-stop flights to over 30 destinations, with major airlines such as United, Southwest, and Delta serving millions of passengers each year. 

Aerial view of downtown Omaha Nebraska, USA

Omaha Industrial Market

The Omaha industrial market continues to thrive, with all industrial property types boasting positive net absorption. Over 363,000 SF of industrial space in Omaha was absorbed in the most recent quarter, helping to keep industrial vacancy at just above 3.0%:

  • Total industrial inventory: 94,248,692 SF
  • Average asking rent: $6.53 per SF per year, NNN
  • Vacancy rate: 3.2%
  • Absorption: 363,000 SF Q1 2021
  • New construction: 176,864 SF delivered (Q1 2021) with 4,183,719 SF under construction
  • Largest industrial submarkets: South Central, Sarpy West, Northeast, Southwest

Discover Omaha industrial space for rent. 

Omaha Office Market

The office market in Omaha has seen strong activity this quarter, with more on the horizon. With over 1 million square feet of office space in Omaha under construction, over 76% is build-to-suit or pre-leased. Looking forward, positive absorption and new construction are forecasted to fuel office building investments in Omaha:

  • Total office inventory: 34,025,524 SF
  • Average asking rents: $22.34 per SF per year, NNN
  • Overall vacancy rate: 10.4%
  • Absorption: +75,881 SF (YTD Q1 2021)
  • New construction: 320,986 SF delivered to market (Q1 2021) with 1,037,994 SF of office space under construction
  • Largest office submarkets: Downtown, Midtown, Suburban West Dodge, Southwest

Discover Omaha office space for rent. 

Omaha Retail Market

As Colliers reports, retail habits continue to change, with both national and regional markets seeing some creative, non-traditional uses. The retail market in Omaha saw a positive net absorption of 84,500 SF in Q1 2021, with much of the demand for retail space in Omaha coming from medical users. Both asking rents for retail and vacancy rates are forecast to remain steady, with absorption positive for two quarters in a row: 

  • Total retail inventory: 33,269,425 SF
  • Average asking rent: $13.02 per SF per year, NNN
  • Overall vacancy rate: 8.1%
  • Net absorption: +84,452 SF (Q1 2021)
  • New construction: 0 SF delivered (Q1 2021) with 240,517 SF under construction
  • Largest retail submarkets: Southwest, Central, Sarpy East, Northwest

Discover Omaha retail space for rent. 

Omaha Multifamily Market

The multifamily market in Omaha remains resilient due to healthy market fundamentals such as a highly educated workforce and a strong, diverse employment base. New apartment construction in Omaha has historically shown net positive absorption, with a steady supply of about 1,500 new units delivered  each year:

  • Total housing units: 394,296
  • Renter occupied: 40%
  • Average asking rent: $985 per month
  • Rent change: +4.0% year-over-year
  • Most affordable neighborhoods for renters: Country Club Hills, Dodge Park – Wyman Heights, Raven Oaks – Woodhurst
  • Most expensive neighborhoods for renters: Armbrust Acres – Pacific Heights, Spring Ridge – Lakeside
  • Most popular areas for renters: Applewood Heights – Disney, Dundee – Memorial Park, Monmouth – Central Park
  • Median household income: $70,373
  • Per capita income: $35,223

Discover Omaha multifamily apartments for sale. 

Crexi Helps Seekers Discover Omaha Commercial Real Estate Properties

As a true marketplace, Crexi seeks to empower Omaha buyers and tenants with our comprehensive online platform. Omaha commercial real estate is a “steady Eddie market,” per Scott Koethe, in an interview with RE Journals — perfect for parties seeking a positive, reliable return on investment. In the last year, approximately 46.6% of traffic seeking Omaha property on Crexi came from out of state with buyer activity in the area growing 83.3% year-over-year in Q2.

Buyers, sellers, and tenants can browse hundreds of thousands of properties nationwide, free of charge. Crexi’s search feature allows buyers seeking commercial real estate for sale to narrow down their parameters by price, cap rate, square footage, and more to find properties that match their criteria.

Interested parties can download OMs, directly contact brokers, and even submit letters of intent (LOIs) through Crexi’s platform.

Intelligence: Market Knowledge is Power

Crexi also empowers buyers and sellers to make better decisions via its Intelligence offering. Intelligence is a subscription service that grants investors access to over 50 MSA market reports and sales comps from over 40 million historical sales, verified by third-party sources. The Insights tab on each property page provides real-time insights into market demographics and data, including average square footage, asking prices or rates, cap rate valuations, and more.

Crexi offers this data on a subscription basis to help buyers and sellers make the best investment decisions possible.

How Crexi Empowers Omaha Brokers

The Omaha commercial real estate market shows no signs of slowing down: a quick search on Crexi’s platform produces over 1,700 Omaha properties for sale and commercial lease, with a healthy blend across asset classes.

Crexi allows brokers to freely list properties, and view leads with a fully equipped lead-management dashboard. Omaha brokers use Crexi to list a variety of asset classes and property types, including:

  • Land parcels
  • Multifamily units
  • Industrial facilities
  • Development sites
  • Office units
  • Non-traditional properties, such as self-storage, medical offices, or senior/assisted living

The free marketplace allows brokers to conduct every stage of a CRE transaction online, in addition to providing lead contact tools, pipeline management, insights into buyer activity, and a due diligence file vault. However, the real power of Crexi’s capabilities emerge with PRO.

Crexi PRO Dashboard 2020

Crexi PRO

Crexi PRO enhances brokers workflows and simplifies pipelines, allowing Omaha agents to maximize efficiency and close more deals. A robust PRO dashboard provides detailed contact information on every interested lead, as well as email marketing analytics and customized lead reports. PRO subscribers also enjoy featured listing placements on Crexi’s search pages, as well as weekly email blasts to thousands of buyers with an average click-through rate of 10-15%. 

PRO users can take advantage of Crexi’s Intelligence at no added cost, accessing over 40 million sales comps and a detailed Omaha MSA market report — one among 51 MSA reports. Crexi obtained this data in partnership with one of the US’s largest data companies, thoroughly vetted through third-party state and local entities.

Omaha commercial brokers use Crexi to connect with over 90,000 qualified buyer and tenant leads in Omaha alone and nearly 90,000 leads in Nebraska. Not to mention over 1 million monthly active visitors nationwide who — potentially — seek to invest in Omaha MSA property.

Crexi is proud to report that Omaha PRO subscribers close six to eight more deals on average than non-PRO users.

Learn more about Crexi’s PRO membership.

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Shanti Ryle
Shanti Ryle

Content Marketing Manager

Shanti leads Crexi's content marketing strategies with 7+ years of content development experience, creating everything from blog posts to award-winning podcasts. Previously, she worked on content teams at Snapchat, Weedmaps, and HopSkipDrive as well as developed copy, articles, and media for freelance publications.

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