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AcquisitionsMidwestMultifamilyNebraska

Eastham Capital, Bender Cos. Acquire 258-Unit Multifamily Community in Omaha

by Kristin Harlow

OMAHA, NEB. — A joint venture between Eastham Capital and Bender Cos. has acquired The Colonial, a 258-unit apartment community in Omaha. Eastham obtained a majority ownership in the deal through its current fund, Eastham Capital Fund VI LP. Bender, which has co-invested and partnered with Eastham on multiple projects, will oversee the day-to-day management. Parker Stewart and Alex Malzone of Northmarq brokered the sale. The Colonial is currently 95 percent occupied with average rents of just over $961 per month. the acquisition includes a renovation budget of $1.9 million, which will include interior unit renovations and exterior upgrades such as roof replacements, balcony repairs and parking lot enhancements. Built in 1967, the property features floor plans averaging 902 square feet. Amenities include an outdoor pool, community room, laundry facilities and storage lockers.

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AcquisitionsIndustrialMidwestNebraskaSelf-Storage

Matthews Arranges $15.5M Sale of Self-Storage Portfolio in Nebraska

by Kristin Harlow

NORTH PLATTE, NEB. — Matthews Real Estate Investment Services has negotiated the $15.5 million sale of a four-property self-storage portfolio in North Platte, located in the west-central part of Nebraska. The facilities are located at 3109 S. Willow St., 2020 E. Philip Ave., 2505 W. Rodeo Road Ave. and 214 N. Lakeview Road. The portfolio totals 208,083 net rentable square feet across 1,142 units. Mason Gates of Matthews brokered the transaction. The seller, Matthew Ackerman of ASONP LLC, sought to divest the portfolio after years of building one of the largest self-storage footprints in Nebraska. The buyer, HAN Capital LLC, is a property investment company based in Chicago looking to expand its self-storage footprint across Nebraska and the broader Midwest. The transaction marked the largest broker-facilitated self-storage deal in the state by price and square footage, according to Matthews. The deal was structured with a blend of conventional and seller financing.

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CivicDevelopmentMidwestNebraska

Assemble Lincoln Selects Site for 125,000 SF Downtown Convention Center in Nebraska

by Kristin Harlow

LINCOLN, NEB. — Assemble Lincoln, Lancaster County’s standing committee overseeing the development of Lincoln’s Downtown Convention Center, has selected the Garfield Public/Private site near South 13th and M streets as the location for Lincoln’s convention center. After a process that began in fall 2023 following two feasibility studies in 2022 and 2023 by CSL, commissioned by the Downtown Lincoln Association, Lincoln Downtown Rotary #14 and Visit Lincoln, three sites were shortlisted as finalists in July 2024. The convention center is estimated to come with an investment between $111 million and $120 million and have an impact of $18.5 million in total economic output annually, supporting 230 jobs and generating nearly $1.3 million in tax revenue per year. Next steps in the process to develop the site include beginning outreach and preliminary negotiations with landowners of the parcels being considered for development, submitting Lancaster County’s Turn Back Tax application to the state, understanding the anticipated timeline of approval of the application and when funds would become available if approved, determining a schedule for issuing design, preconstruction and construction management request for proposals and building a master schedule and budget for development of the site. The selected site is situated directly across …

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DevelopmentHealthcareMidwestNebraska

Providence Medical Center Expands in Wayne, Nebraska

by Kristin Harlow

WAYNE, NEB. — Darland Construction Co. has completed a renovation and addition for Providence Medical Center (PMC), a critical access hospital in Wayne. The first phase of the project included a 20,000-square-foot addition on the hospital’s south side, designed to accommodate the rapidly expanding imaging and specialty outpatient services. The second phase included a new campus main entry and central registration, consolidating radiology services into a unified location. A new concourse connects this area to the remodeled spaces. A dedicated outpatient clinic houses infusion rooms, stress testing, psychiatry, counseling and staff support areas. Following the completion of the addition, Darland transitioned to a 20,000-square-foot remodel, transforming the surgical suite with two new operating rooms, converting an existing OR into an endoscopy suite and adding private pre-op and recovery spaces. Areas for materials management, wound care, cardiac rehab and administrative offices were also updated. A third phase included the installation of a supplemental air handling unit and a renovation of the hospital’s pharmacy.

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AcquisitionsMidwestMultifamilyNebraska

Northmarq Arranges Sale of 566-Unit Multifamily Portfolio in Nebraska

by Kristin Harlow

BELLEVUE AND LINCOLN, NEB. — Northmarq has arranged the sale of two multifamily properties in Nebraska totaling 566 units. The sales price was undisclosed. The portfolio includes The Vue in Bellevue and Lakeview Park in Lincoln. Parker Stewart, Anthony Martinez, Dominic Martinez and Alex Malzone of Northmarq represented the seller, a joint venture between Vantage Capital Advisors and Cherry Tree Capital Partners. The buyer was a private Canadian investment firm. Built in 2000, The Vue features 330 units. Lakeview Park is a garden-style community built in 1995 that includes 236 units. Both properties feature recently renovated clubhouses along with pools, fitness centers and package lockers.

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Affordable HousingDevelopmentMidwestMultifamilyNebraska

Annex Group to Build 175-Unit Affordable Housing Community in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — The Annex Group has unveiled plans to build Central at South Haymarket, a 175-unit affordable housing community in Lincoln. The five-story property will consist of one-, two-, three- and four-bedroom units that will be reserved for households whose income level is 50 to 70 percent of the area median income. The nearly $55 million project, which is being built in an area that is currently a parking garage, is slated to open at the end of 2026. Central at South Haymarket will feature amenities such as a community room, fitness center, business center, playground, community gardens, outdoor pet area and grilling area. Partners on the project include BVH Architecture, REGA Engineering, the City of Lincoln, Impact Housing Indiana Corp. and KeyBank’s debt and equity teams, which provided more than $20 million in total equity, over $22 million in permanent debt financing and more than $40 million in construction financing. Key Bank Capital Markets was the bond underwriter on $26 million in bonds issued by Nebraska Investment Finance Authority. The City of Lincoln issued a 20-year tax-increment financing along with parking rights provided in surrounding city-owned lots and garages to help make the project financially feasible. The project …

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AcquisitionsMidwestNebraskaRetail

Investors Realty Brokers $13.6M Sale of Shopping Center in Bellevue, Nebraska

by Kristin Harlow

BELLEVUE, NEB. — Investors Realty Inc. has brokered the $13.6 million sale of the Twin Creek Shopping Center in Bellevue, a southern suburb of Omaha. Situated at the intersection of 36th Street and Highway 370, the property consists of eight retail buildings totaling 83,085 square feet. Ember Grummons of Investors Realty represented the seller, River Village Twin Creek LLC. Tim Kerrigan, Grant Kobes and Jarrot Simon of Investors Realty represented the buyer, Classic Street Partners LLC.

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DevelopmentIndustrialMidwestNebraska

Darland Construction to Build 105,000 SF Packing, Distribution Center for Food Bank in Omaha

by Kristin Harlow

OMAHA, NEB. — Darland Construction will build a nearly 105,000-square-foot packing and distribution center for Food Bank for the Heartland in Omaha. The facility will replace the organization’s current location, which it has outgrown due to a significant increase in demand for emergency food assistance, according to Darland. Since 2018, Food Bank for the Heartland has more than quadrupled its reach and serves 93 counties in Nebraska and western Iowa. The new property will offer expanded cold storage capabilities and a significantly larger Protein Repack Room with a capacity of 4,300 square feet. The new building will be more than 40 percent larger than the current facility, providing increased space for volunteers to repackage food donations. HDR is the architect.

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DevelopmentLeasing ActivityMidwestNebraskaRestaurantRetail

Lockwood Construction Begins Demolition of Former Charleston’s Restaurant in Omaha

by Kristin Harlow

OMAHA, NEB. — Lockwood Construction has begun demolition work on a former Charleston’s restaurant space in Omaha. Terra Gaucha, a Brazilian steakhouse, will open in the 8,788-square-foot space. The new location marks the restaurant’s first venture into Omaha. The building will feature an expanded dining area to accommodate private dining, an expansive wine wall and open bar concept, and extensive exterior updates and landscaping to coincide with other Terra Gaucha locations. The restaurant is expected to open in May 2025.

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Leasing ActivityMidwestNebraskaRestaurantRetail

Travelers Taproom Opens at Northwest Commons Shopping Center in Grand Island, Nebraska

by Kristin Harlow

GRAND ISLAND, NEB. — Travelers Taproom has opened a 4,139-square-foot taproom at Northwest Commons Shopping Center in Grand Island, a city in central Nebraska. The Staenberg Group manages the property at 2230 N. Webb Road. Travelers Taproom offers a self-pour experience, where guests can choose from 60 rotating taps featuring local beers, ciders and seltzers. There is also a whiskey, bourbon and wine bar. Travelers Taproom is inspired by the owners’ travels across the country. Additional tenants at the shopping center include Dick’s Sporting Goods, Burlington, T-Mobile, Spectrum and Pro Image Sports.

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