Nebraska

OMAHA, NEB. — Hanley Investment Group Real Estate Advisors has arranged the sale of a Topgolf-occupied property in Omaha for $7.7 million. The property marks the first and only location for Topgolf in Nebraska. Located at 908 N. 102nd St., the asset neighbors a Chipotle Mexican Grill, X-Golf and a future nine-acre mixed-use development. The 24,496-square-foot Topgolf building was constructed in 2020. The Omaha Topgolf facility features 72 climate-controlled hitting bays, a full-service restaurant, bars, private event space, a rooftop terrace and more than 200 HDTVs. Jeff Lefko and Bill Asher of Hanley represented the seller and developer, a private investor based in Omaha. Ashish Wadhwani of Wadhwani Holdings represented the buyer, a private investor based in metro Houston.

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OMAHA, NEB. — Developer Sullivan Development Co. has broken ground on Leavenworth Lofts, a 28-unit apartment building in Omaha. The project site at 3612 Leavenworth St. is within walking distance of the University of Nebraska Medical Center. Completion is slated for spring 2025. Leavenworth Lofts will feature one-bedroom units averaging 1,000 square feet. Penthouse units on the fifth floor will feature secured access and private rooftop terraces. Unique to the property is a short-term rental option for units on the lower level as well as a gallery in the lobby that will spotlight rotating exhibits by local artists. Residents will have access to concierge housekeeping services as well as a controlled-entrance garage. BVH Architecture and Ronco Construction make up the project team.

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OMAHA, NEB. — Darland Construction Co. has completed a nearly 38,000-square-foot medical office building for MD West One, an Omaha-based orthopedic, neurosurgery and spine clinic. R&R Realty was the developer. The facility is located on the southwest corner of 192nd Street and West Dodge Road in Omaha. The clinic has more than 40 exam rooms and dedicated areas for X-ray, radiology, casting and procedures. The property is located within the Fountain Ridge West development in an area of the West Dodge corridor that is slated for major development in the coming years.

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PAPILLION, NEB. — Aldi is opening a new 20,000-square-foot grocery store at Settlers Creek in Papillion. Completion is slated for spring 2024. The store, which will be situated between Sam’s Club and Hobby Lobby, marks Aldi’s 12th location in Nebraska and first in Papillion. Settlers Creek is a 250,000-square-foot shopping center owned and developed by The Lerner Co. and RED Development.

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OMAHA, NEB. — Colliers Nebraska has negotiated a 12,598-square-foot office lease at Farnam Executive Center in Omaha. Adam Marek of Colliers represented the tenant, a national law firm focused on assisting government agencies with improving service delivery. Chris Mensinger, Justin Spooner and Lizzie Mensinger of Colliers represented the landlord, White Lotus Group. Recently purchased by White Lotus Group, Farnam Executive Center rises four stories and totals 92,242 square feet.

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By Mike Rensch, Investors Realty The Omaha office market is facing an increasing amount of sublease space, which is having a significant impact on what spaces tenants prefer to lease right now. This is directly affecting all aspects of the overall office market as well. As the second quarter came to a close, the direct vacancy rate was 7.4 percent, compared with 7.6 percent in the second quarter of 2022.  With that said, those numbers do not paint the whole picture because they do not account for the amount of sublease space on the market. The availability rate (which includes direct space and sublease space available) was at 9.8 percent compared with 8.4 percent in the second quarter of 2022. We see this trend continuing for the time being as companies grapple with whether or not to bring their employees back to the office.    At the end of the second quarter, there was 841,000 square feet of sublease space available in Omaha, up from 723,000 square feet at the end of the second quarter of 2022. This represents a 14 percent increase in sublease space over the past year. It reached its peak of 919,000 square feet of available …

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LINCOLN, NEB. — The Annex Group is developing Union at Antelope Valley, a $52.7 million affordable housing community in Lincoln. The five-story project will feature 187 one-, two- and three-bedroom units that will be reserved for households whose income levels are at or below 60 percent of the area median income. Completion is slated for summer 2025. The community will be situated on 1.7 acres at 1810 K. St. within the eastern portion of downtown Lincoln. Amenities will include a community center, fitness center, dog park, courtyard, private garage and onsite management. Like all of Annex’s affordable housing communities, Union at Antelope Valley will offer a customized Community Impact Plan that will help connect residents with community resources. Partners on the project include BVH Architecture, REGA Engineering Group and Summit LIHTC Consulting. US Bancorp Impact Finance provided more than $21 million in federal Low-Income Housing Tax Credit equity financing, while Cedar Rapids Bank & Trust provided more than $25 million in debt financing. Annex’s construction arm, Annex Construction of Nebraska LLC, is the general contractor.

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OMAHA, NEB. — Investors Realty Inc. has brokered the sale of a 66,011-square-foot office building in Omaha for $6.2 million. The property at 8420 W. Dodge Road is 76 percent leased to Senior Market Sales. Ember Grummons and JP Raynor of Investors Realty represented the seller, an entity doing business as 8420 LLC. Joseph Failla of Atrium Properties represented the buyer, an entity doing business as 5332 So. 138th St. LLC.

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By Sara Hanke, The Lerner Co. Eternally optimistic is the state most commercial real estate brokers find themselves in, particularly when it comes to the retail sector. We must be, as the conditions of the retail market are quite often painted in negative broad strokes. The predictions that online sales would be the demise of physical retail proved wrong. Retailers that are digitally native continue to open brick-and-mortar locations after realizing the limits of online customer acquisition and growth.  Most recently, the pandemic has shown us that retail can weather the storm of restrictions and limitations. Now we are in a post-pandemic world where the restrictions and upheaval of the way we consume has shifted our mindset. Shoppers have returned to their daily shopping, eating and entertainment needs. Navigating the complexities of the retail real estate market continues to keep us all on our toes. The first and third quarters were healthy with vacancy dipping below 5 percent. So far, the third quarter has proven strong due to new-to-market concepts looking to do multiple location rollouts as well as existing retailers looking to add additional locations.  As the year progresses, we are not without challenge. There has been a shortage …

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LA VISTA, NEB. — Marcus & Millichap has arranged the $1.9 million sale of a 3,305-square-foot restaurant property occupied by KFC in La Vista, a southwest suburb of Omaha. The net-leased building features a drive-thru and is located at 8311 Harrison St. KFC’s lease has 11 years remaining and features 10 percent rental increases every five years. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

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