VALLEY, NEB. — Prominence Global LLC has unveiled plans to develop Catalina, a 260-acre mixed-use project in Valley, about 25 miles west of Omaha. Colliers is the leasing agent. Situated near Highway 275 and Meigs Street, Catalina will feature a commercial district with retail and flex opportunities along with a residential component for single-family and multifamily units. Catalina will also feature the First Interstate SportsPlex. In partnership with the Elkhorn Athletic Association, this 96-acre portion of the development will be dedicated to soccer, baseball and softball fields. Grading at the site is currently underway, with infrastructure work projected to start in 2025. Some of the first homes and commercial tenants are expected to open in late 2026.
OMAHA, NEB. — The Lund Company (Lundco) has unveiled a strategic reorganization that will split its operations into two distinct entities: Lund Living and The Lund Company, operating as Cushman & Wakefield/The Lund Company. Under the new structure, Lund Living will operate as a third-party multifamily property management company. As a member of the Cushman & Wakefield Alliance, The Lund Company’s brokerage and commercial property management departments will continue to provide comprehensive commercial real estate services. Both entities will operate under the Lundco umbrella. The restructuring will help separate the company’s multifamily department from the brokerage and commercial management departments.
By Mike Homa, R&R Realty Group Five years later and businesses are still adjusting to the new work environment brought on by the COVID pandemic. Omaha’s office space market is seeing a shift in how companies attract employees back into the office. With remote and hybrid work now widely accepted, developers and employers have realized that providing traditional office spaces is no longer enough to entice workers. Instead, they are focusing on creating environments that offer a blend of professional, personal and recreational amenities, transforming office spaces into lifestyle destinations. To make coming to the office more attractive, developers are offering amenities that cater to employees’ holistic needs. In some office parks, facilities such as onsite daycare centers are becoming a reality. These allow working parents the convenience of dropping off their children close to where they work, reducing commute time and providing peace of mind. It’s an amenity that goes beyond the typical office needs, addressing a significant aspect of employees’ personal lives. Green spaces are another amenity we see being increasingly incorporated into the surroundings of new buildings and broader development areas. We see outdoor spaces in office parks like Fountain Ridge Office Park, which offers amphitheater-style seating …
COLUMBUS, NEB. — PACE Loan Group has provided a $3 million C-PACE loan for a dual-branded TownePlace Suites and Fairfield Inn & Suites by Marriott hotel under construction in Columbus, about 75 miles northwest of Lincoln. A regional bank provided a $10.5 million first mortgage. The C-PACE loan will be used to build the 102-room property. C-PACE proceeds will finance energy conservation and renewable energy measures, including high-efficiency HVAC and Domestic Hot Water (DHW) fixtures, low U-factor windows and interior LED lighting. Renewable and energy conservation measures are expected to save $64,224 annually. Construction is scheduled for completion this month.
OMAHA, NEB. — Cavan Cos. has received two construction loans totaling $87.5 million for the development of The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake, two build-to-rent (BTR) projects in Omaha. ORIX Corp. USA’s Real Estate Capital Group provided the financing. Timelines for completion were not disclosed. Combined, the two projects will feature 466 single-story homes in one-, two- or three-bedroom layouts. Each residence will include open floor plans, 10-foot ceilings, laundry rooms, walk-in closets and fenced back yards with artificial turf. Select homes will also have garages. Both communities will offer amenities such as pools, fitness centers, community spaces, dog parks and other pet-friendly spaces. “The demand for rental homes continues to increase across the United States, particularly in markets like Omaha,” says Gary Burton, CEO of Cavan Cos. “Our BTR model aligns with shifting market preferences, as more residents are seeking lifestyle-driven housing options without the long-term commitment of traditional homeownership.” Cavan Cos. is a BTR development firm based in the Phoenix suburb of Scottsdale. The company’s portfolio consists of approximately 5,000 BTR units in Arizona. In addition to The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake, as well as multiple projects in Arizona, Cavan Cos. plans to develop …
By John Dickerson, OMNE Partners Omaha continues to be strong economically. The Omaha-area population is nearing the 1 million mark, and Omaha has been rated in the top 10 of cities to move to. Unemployment is less than 3 percent compared with about 4 percent nationally, and employment growth is about 2 percent per year. In commercial real estate, business news generally says that Omaha is doing better than larger cities in the U.S. Of the key sectors, industrial has performed very well. Leasing pace Per CoStar information, Omaha’s vacancy rate is 3 percent. The total industrial square footage is 108 million square feet, and there is approximately 4 million square feet under construction. A large share of construction is due to Google, Facebook and other large users adding facilities. About 1.7 million square feet has been absorbed in the last year. Currently, per market information gathered from Crexi listings, there is approximately 2.6 million square feet available for lease in Douglas and Sarpy counties. (See chart for a breakdown by property types.) One other thing to note is that in the 139 properties with space for lease, there appears to be only 20 spaces for lease with 2,000 square …
OMAHA, NEB. — Cushman & Wakefield has brokered the sale-leaseback of a 70,000-square-foot specialty orthopedic hospital in Omaha for an undisclosed price. Built in 2004 and expanded in 2020, the property is fully occupied by OrthoNebraska. The two-story facility is dedicated to musculoskeletal care with 24 inpatient beds, 12 operating rooms and several treatment rooms. Gino Lollio, Travis Ives, Sushil Puria and Tyler Morss of Cushman & Wakefield, along with TJ Twit of The Lund Co., an alliance of Cushman & Wakefield, represented OrthoNebraska in the transaction. Montecito Medical Real Estate was the buyer.
By Tom D’Arcy and Brad Soderwall, Hines The Omaha market has experienced strong growth in recent years, with $8 billion in commercial real estate development currently underway driven by consistent migration of new residents and professionals to the area. The city’s attractiveness is attributed in large part to its high quality of life and attractive cost of living, both of which present compelling opportunities for new development that further incentivizes in-migration, and cultivates and enhances the unique lifestyle that makes Omaha a desirable place for families and young professionals to put down roots. Shifting demographics drive growth in Omaha Omaha’s low unemployment rate (at 2.6 percent as of July 2024, per the Nebraska Department of Labor), quality of life, affordable cost of living and expanding cultural opportunities are driving migration into the area. The Omaha-Council Bluffs metropolitan area saw its strongest population growth since pre-pandemic (2019) in 2023, with an increase of 0.8 percent, substantially outpacing the national average of 0.5 percent, per the U.S. Census Bureau. 2023 also saw a net migration of over 3,400 residents to the area. This population growth is fueling demand in the multifamily market, where we saw a record-setting year for development in 2023 …
OMAHA, NEB. — Plum Market Travel Services has been awarded a contract to operate 10 dining, retail and Gourmet Natural Market locations at Omaha Eppley Airfield (OMA) in Nebraska. The agreement, part of OMA’s $950 million terminal expansion and modernization plan, comprises the majority of the food-and-beverage offerings. Plum Market Travel Services is a subsidiary of Plum Market, a natural food, beverage and wellness essentials retailer. The 10 locations consist of nine brands spanning various cuisines and formats. Notable brands include Runza, Panda Express and Sambazon, along with several local Omaha restaurants such as Block 16 and Fernando’s. Additionally, Plum Market will open two of its own concepts: a full-service kitchen and bar with all-natural snacks and travel essentials, and a convenient grab-and-go, quick-service format. The terminal expansion is slated to open in 2027.
ELKHORN, NEB. — CBRE has arranged the sale of The Trails, an 85-unit build-to-rent community in the Omaha suburb of Elkhorn. The sales price was undisclosed. Located at 19111 Grand Ave. and completed this year, the property features a range of four- and five-bedroom floor plans averaging 1,814 square feet. Ted Abramson, Mark Seger and Jeremy Fink of CBRE represented the undisclosed seller. Curtis Capital Group was the buyer.
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