Omaha Industrial & Warehouse Market Report | Q3 2026

Browse warehouse space for rent in Omaha

Data centers drove Omaha’s headline numbers in Q3 2026. Meta’s 1.4 million SF Fairview Road expansion and Google’s 288,267 SF Blair High Road facility delivered fully occupied, lifting net absorption to 1,502,678 SF. Excluding them, the market gave back 185,589 SF as Kellogg’s left its F Street plant, and overall vacancy rose to 3.5%. Warehouse/distribution space stayed tight at 2.1%.

Figures on this page are from the Cushman & Wakefield Alliance Q3 2026 Omaha Industrial MarketBeat unless noted. Rents are triple net (NNN) asking rents in $/SF/yr. Our Q2 edition used NAI NP Dodge figures because C&W had not updated Omaha for Q2; those figures come from a different dataset and are not comparable with the C&W figures below. C&W counts fully occupied data center buildings in its flex inventory, which affects absorption, completions and flex vacancy.

Market Snapshot: Q3 2026

Source: Cushman & Wakefield Alliance, Omaha Industrial MarketBeat Q3 2026. Q2 vacancy and pipeline as stated in that report; Q2 rent and absorption and Q3 2025 figures from C&W’s U.S. Industrial MarketBeat Q3 2026 metro tables, which show Q2 vacancy at 1.3%.

Rent Trends: $8.00/SF NNN, Up 2.8% on the Year

C&W’s average asking rent was $8.00/SF/yr NNN in Q3 2026, up from $7.97 in Q2 and $7.78 a year earlier. Warehouse/distribution space asks $7.66 and office service/flex $8.74. Omaha rents are about 23% below C&W’s U.S. average of $10.40/SF/yr (WareCRE calculation).

Rents vary widely by submarket. Among the four largest, overall averages run from $7.30/SF/yr in Northeast Omaha to $10.25 in Northwest Omaha, and Sarpy West, where most new buildings are, averages $9.18.

Construction Pipeline: 1.9M SF After a 2.4M SF Delivery Quarter

C&W counts 1,922,831 SF under construction at the end of Q3, down from 3.8 million SF in Q2 after 2.4 million SF completed during the quarter. Warehouse/distribution accounts for 1.2 million SF of the pipeline, data centers 373,497 SF and non-data center flex 314,855 SF. Sarpy West holds 1.4 million SF, or 70%.

Data centers made up 1.7 million SF, or 71%, of Q3 completions. The remaining 691,046 SF included 326,954 SF of build-to-suit and 364,092 SF of speculative space. Year-to-date deliveries total 2.9 million SF.

Submarket Breakdown

C&W’s Q3 2026 Omaha MarketBeat tracks 18 submarkets. The four below account for most of the metro’s inventory, absorption and construction.

Sarpy West (I-80)

The largest submarket at 31.2 million SF and the center of new development. It absorbed 1,706,835 SF in Q3, including Meta’s 1.4 million SF Fairview Road data center expansion, which delivered fully occupied, and Amazon’s 286,000 SF lease at 15415 Sunburst Drive. Vacancy is 1.7%, and 1,350,273 SF is under construction, about 70% of the metro pipeline. Capital Sanitary leased 49,500 SF at 9061 S 126th Street.

South Central Omaha

A 22.6 million SF established industrial area. It posted −865,706 SF of net absorption in Q3, the largest loss in the metro, and its vacancy rose to 6.0%. International Paper renewed 82,470 SF at 4019 S 60th Street. Nothing is under construction.

Northeast Omaha

An 11.7 million SF submarket with 5.1% vacancy and the lowest average rent of the four, $7.30/SF/yr. It absorbed 31,176 SF in Q3, but year-to-date absorption is −471,367 SF. Nothing is under construction.

Northwest Omaha

A 9.7 million SF submarket with 1.6% vacancy. It absorbed 465,918 SF in Q3 as Google’s 288,267 SF Blair High Road data center delivered fully occupied, and it has 289,061 SF under construction. Its average rent of $10.25/SF/yr is among the highest in the metro.

Source: Cushman & Wakefield Alliance, Omaha Industrial MarketBeat Q3 2026, market statistics table (overall asking rent, NNN). Smaller outlying submarkets are included in the total but not shown.

Co-Warehousing & Flexible Warehouse Space in Omaha

With warehouse vacancy at 2.1%, flexible and co-warehousing space gives businesses a way to get warehouse access without waiting for a traditional lease to open up. In C&W’s Q3 figures, office service/flex space asks $8.74/SF/yr NNN, and flex vacancy excluding data centers is 5.1%.

Omaha’s flexible-space demand comes largely from food and cold-chain companies and from e-commerce businesses serving Midwest consumers. Agricultural technology and farm supply firms, construction trades and growing businesses that want scalable space without long-term commitments also lease it.

Browse available co-warehousing and small-bay warehouse listings on WareCRE’s Omaha marketplace.

Key Trends to Watch

1. Data Centers Are Driving the Headline Numbers

Meta’s 1.4 million SF Fairview Road expansion and Google’s 288,267 SF Blair High Road facility delivered fully occupied in Q3, contributing 1.7 million SF of absorption and 71% of completions. C&W counts 10.3 million SF of the 26.0 million SF flex base as fully occupied data center space. Without data centers, Q3 absorption was −185,589 SF. For broader context: Industrial Real Estate Trends & Outlook 2026.

2. Sarpy West Is Where New Supply and Leasing Are Concentrated

Sarpy West holds 70% of the space under construction and absorbed 1,706,835 SF in Q3, including Amazon’s 286,000 SF lease. Tenants that need modern space with I-80 access will find most of the new options in this one submarket. Read more: Small-Bay vs. Big-Box: What the Vacancy Gap Means in 2026.

3. Kellogg’s Exit Adds a Large Manufacturing Vacancy

Kellogg’s left 888,198 SF at 9601 F Street, pushing manufacturing absorption to −876,402 SF and manufacturing vacancy to 7.9%. C&W calls manufacturing the soft spot in Omaha’s economy, even as payroll employment rose 1.1% on the year to 525,500 jobs and unemployment eased to 2.9%.

Outlook: What to Watch in Early 2027

C&W’s year-end 2026 MarketBeats are expected in mid-January. Three readings matter most.

Watch absorption excluding data centers. It was −185,589 SF in Q3, and a return to positive territory would show that warehouse demand is outrunning manufacturing losses.

Watch the Kellogg’s plant. How quickly the 888,198 SF at 9601 F Street finds a user will move manufacturing vacancy, now 7.9%, more than any other single building.

Watch the remaining pipeline. With 1,922,831 SF under construction, 1.2 million SF of it warehouse/distribution, the share that delivers vacant will decide whether warehouse vacancy stays near 2%.

Data sources: Cushman & Wakefield Alliance Omaha Industrial MarketBeat Q3 2026 (headline, product-type, submarket and pipeline figures; rents NNN asking, $/SF/yr); Cushman & Wakefield U.S. Industrial MarketBeat Q3 2026 (Q2 rent and absorption, Q3 2025 comparisons and U.S. averages). Each report reflects the most recent vacancy, rental, and construction data available at the time of publication. We refresh our reports as new market data is released, and we’re continually expanding coverage to additional metros.