A bright future. That was the message reiterated throughout the Omaha Commercial Real Estate Summit held by Midwest Real Estate News Nov. 6.
A packed house at the Embassy Suites LaVista – Omaha Hotel & Conference Center listened to the top names in the local CRE industry as they shared their thoughts on the still-resilient industrial and multifamily sectors, the surprisingly strong retail sector and the still sluggish office market.
The key takeaway? Yes, the Omaha commercial real estate market faces challenges. But its fundamentals also remain strong. And there are plenty of signs that the local market is headed for an even stronger 2025.
Panelists pointed to the energy in downtown, the promise of the city’s streetcar project, the influx of new retailers to Omaha and its suburbs, the area’s pro-business government and the high quality of life here. People continue to move to Omaha. And that makes it an attractive market for companies looking to open regional headquarters, relocate or expand.
The event was also enhanced by plenty of networking opportunities. With such a large crowd in attendance, CRE professionals had the chance to discuss business with a wide range of professionals.
Omaha Mayor Jean Stothert delivered the keynote address of the conference, focusing on the many positives that have propelled Omaha’s solid and resilient economy.
The multifamily sector remains solid in Omaha. And the panelists on the days Apartment Market Update & Forecast: Opportunities and Challenges panel emphasized that the slowdown in new apartment construction in the market is only a temporary one. Speaking on this panel were Ralph DePasquale, Managing Director, Berkadia; Sara A. McCue, Partner, Baird Holm; Scott P. Moore, Partner, Baird Holm; Kassie Inness, President, Metonic Real Estate Solutions; and Zac Guerin, Vice President of Residential Property Management, Seldin Company.
Like other in other cities, the commercial real estate market in Omaha faces its own challenges. But Omaha has long been a resilient commercial market. That hasn’t changed, something emphasized by the speakers on the Omaha Market Sector Update panel. Participants included J.P. Raynor, Broker, Investors Realty, Inc.; Cole Kratochvil, Vice President General Manager Eastern Nebraska Division, 3G Companies; Luke Maher, National Account Manager, First American Title Insurance Company; Charles McNeil, Vice President, Nebraska Brokerage Services, Colliers; and Gordon Harnisch, Senior Vice President Commercial Real Estate Division Manager, Bankers Trust.
The summit closed with the Transformation & Development of Downtown and Suburban Markets panel. Speakers on this panel highlighted the major commercial projects that are changing the face of Omaha. Speakers included Steve Jensen, Planning and Urban Design Consultant, City of Omaha; Jason Lanoha, President, Lanoha Real Estate Company; Jon Blumenthal, Shareholder, McGrath North; Peter Frei, Vice President of Investments, NewStreet Properties; and Ted Zetzman, Executive Vice President & Director of Development, Noddle Companies.
