Lundco's semi-annual office market overview

eomaha · Post by **eomaha** » Fri Jan 13, 2006 12:14 am

The downtown/midtown vacancy rate is all the way down to 16% ! (from 22% in July). Great news... and more fuel to suggest the feasibility for a resumption in downtown office construction.

http://www.lundco.com/pdf/Office%20Survey_Jan06.pdf

Highlights:

-Overall metro office space vacancy rate is now 15% (down from 17% in July)
-Class A vacancy is only 9% !
-326,900SF currently under construction highlighted by Lockheed Martin on Highway 370 (85,000SF), Westroads II (50,000SF), North Park 4B (40,000SF)
-777,800SF of space to come online within the next 18-48 months highlighted by:
NP Dodge's new building at 132nd and W. Dodge (68,000SF, 4 stories)
C&A Industries building also in Bank of the West park (100,000SF, 5 stories)
Seville Square IV (48,000SF), 147th and W. Dodge
Westpoint development, 156th and W. Maple (40,000SF x 2)
Westroads III and IV (50,000SF, 3 stories x 2)
ATI Title, 108th and Blonda (44,000SF)
North Park 7B (52,000SF)
Downtown Omaha Club building expansion is again mentioned
-Bellevue is now the focus of office vacancies (30%) with Northrop Grumman's relocation to their new building on 370 (leaving their Fort Crook Rd building empty)... soon to be compounded with Lockheed-Martin's relocation to their new digs as well.

Post by **Omaha Cowboy** » Fri Jan 13, 2006 12:37 am

Excellent info and news..

Thank for the link Jeff!..

..Ciao..LiO....Peace

scraper · Post by **scraper** » Fri Jan 13, 2006 8:13 am

I wonder if Kutak Rock's temporary move out of the Omaha Building into Central Park Plaza affected this. They have at least 5 full floors in the north tower.

icejammer · Post by **icejammer** » Fri Jan 13, 2006 8:21 am

And whatever happened with that company that was supposed to be moving into the Central Park towers this last fall and use the parking garage in what used to be Parkfair? I haven't heard zip.