SB Friedman was engaged by Sarpy County as part of a team including HDR, led by JEO Consulting Group, Inc., to conduct a market analysis as part of a Comprehensive Plan update. The goal of SB Friedman’s market analysis work was to assist in creating a future land use plan that was based on projections of the industrial and office markets.
As part of our scope, we prepared top-down forecasts of development potential in Sarpy County over the next 10 years, and estimated future industrial and office square feet.
To estimate near-term real estate development of Sarpy County over the next 10 years, SB Friedman generated a forecasting model based on core drivers of demand and supply factors for industrial and office land uses. More specifically, we completed the following analyses:
- Reviewed historical growth patterns for industrial and office uses (e.g., total rentable building area, rentable building area added, vacancy rate);
- Analyzed historical and projected Sarpy County office and industrial employment by sector;
- Reviewed historic and projected industrial output by sector;
- Researched the regional market trends and location patterns that might impact industrial and office development in the future; and
- Prepared forecasts for industrial and office space that would likely be demanded in the next 10 years.
Results: This project is complete. SB Friedman worked with the team to allocate appropriate land areas for office and industrial uses for the future land use plan.