LINCOLN, NEB. — Timpte Inc., which designs and builds trailers, has launched operations at its new facility in Lincoln that will produce and ship agricultural equipment nationwide. The project represents a $28 million investment, bolstered by an additional $7 million allocated to manufacturing technologies and equipment. Timpte moved its Lincoln operations from 3400 W. O St. to the larger facility, which totals 190,000 square feet. The new location houses Thunderstone Manufacturing LLC operations, equipment trailer product lines and serves as the company’s national parts distribution center. The new facility will produce between 8,000 and 10,000 grain trailer tarps each year. Timpte has added about 20 employees at the Lincoln site and expects to employ more than 100 people there in the next few years. The project sits on more than 1 million square feet of land, allowing for future expansion.
NEBRASKA — Casino operator WarHorse Gaming LLC has secured refinancing of $300 million in startup loans for a five-year deal that will launch the next phase of casino expansions and construction of a new casino in Nebraska. U.S. Bank organized the deal, which includes Capital One, KeyBank, The Huntington National Bank, BOK Financial and Comerica Bank. WarHorse is expanding its casinos at horse racetracks in Omaha and Lincoln. The $70 million expansion of the Lincoln casino will include larger gaming areas for machines, more table games, a new steakhouse and a high-end sports bar. The Omaha expansion was completed in April. New construction of a third casino in South Sioux City is scheduled to begin next summer.
OMAHA, NEB. — Equity Bancshares Inc. (NYSE: EQBK), the Wichita, Kan.-based holding company of Equity Bank, has entered into a definitive merger agreement with Frontier Holdings LLC, the parent company of Frontier Bank in Omaha. The transaction adds seven locations to Equity’s franchise and marks the company’s entrance into Nebraska. Under the terms of the merger agreement, which was unanimously approved by the boards of directors of both companies, Frontier will receive approximately 75 percent of its consideration in EQBK stock and the balance in cash. Subject to receipt of customary regulatory and member approvals and closing conditions, the merger is expected to close in the fourth quarter. Following completion, Frontier Bank will merge with and into Equity Bank. Established in 1937, Frontier Bank currently operates seven Nebraska locations, with two in Lincoln and one each in Falls City, Madison, Norfolk, Omaha and Pender. As of June 30, Frontier Bank had $1.4 billion in total assets, including $1.3 billion in loans and $1.1 billion in deposits. The combination with Frontier brings Equity’s total strategic transactions to 26 since the company’s founding in 2002, including 14 whole-bank acquisitions since the company’s initial public offering in 2015. Stephens Inc. advised Equity, which …
PAPILLION, NEB. — Darland Construction Co. has completed a nearly 60,000-square-foot industrial facility for Mid-States Utility Trailer Sales in Papillion. The project is located just off Highway 50 and I-80 and serves as a regional hub for the semi-trailer dealer. The development features a trailer shop, parts warehouse, driver’s lounge and administrative offices. A notable aspect of the project includes more than 11 acres of exterior paving designed to accommodate the extensive inventory and traffic flow of large semi-trailers. Mid-States Utility operates four locations across Nebraska, Iowa and South Dakota.
LINCOLN, NEB. — The Annex Group has opened Union at Antelope Valley, a 187-unit affordable housing development in Lincoln. The $52.7 million community features one-, two- and three-bedroom units that are reserved for households whose income levels are at or below 60 percent of the area median income. The property features amenities such as a community center, fitness center, dog park and courtyard. The ground floor of the building houses a parking garage, and the residential levels are on the top four floors. Project partners included BVH Architecture, REGA Engineering Group, Summit LIHTC Consulting, NP Dodge, US Bancorp Impact Finance and Cedar Rapids Bank & Trust. The Nebraska Investment Finance Authority also partnered with Annex Group on the project.
LINCOLN, NEB. — Spartan Investment Group, a Colorado-based real estate investment firm specializing in the self-storage industry, has acquired two self-storage facilities in Lincoln totaling 78,402 net rentable square feet and 665 units. The acquisitions mark the first Nebraska properties in the firm’s portfolio. The properties include a 386-unit facility at 1909 N. 1st St. and a 279-unit asset at 700 N. Cotner Blvd. The facilities were built in 2001 and 2012, respectively. Spartan will invest $250,000 in upgrades and expand amenities at both locations to improve curb appeal and modernize security.
OMAHA, NEB. — Investors Realty Inc. has brokered the sale of the Plaza North Shopping Center in Omaha for $14.5 million. Situated near the intersection of 90th and Fort streets, the grocery-anchored property totals 203,250 square feet. Tenants include Baker’s Supermarket, Fowling Warehouse, Altitude Trampoline Park, Planet Fitness and ArchWell Health. The asset underwent a significant renovation in 2018 and was 92 percent leased at the time of sale. Ember Grummons of Investors Realty represented the seller, Plaza North Station LLC. Sam Seelenfreund of Cleeman Realty Group represented the buyer, Sky Capital Group.
COLUMBUS, NEB. — Midas Hospitality has developed a dual-branded hotel featuring Fairfield Inn & Suites and Townplace Suites near Harrah’s Racing and Casino in Columbus, a city in eastern Nebraska. The four-story property is under the Marriott umbrella. Locally based Foreman Lumber built the project, which caters to short-term and long-term stays with the 54-room Fairfield Inn & Suites and the Townplace Suites, which offers 48 extended-stay rooms. Amenities include a fitness center, pool, flex space, outdoor patio, meeting room and complimentary breakfast. The casino and horse racing venue came about following the passage of three Nebraska constitutional amendments in 2020, which legalized casino gambling adjacent to horse racing venues in the state.
OMAHA, NEB. — Marcus & Millichap has negotiated the $7.5 million sale of Old Mill Centre, a 21-suite retail strip property in Omaha. The center totals 75,089 square feet across four buildings on 6.1 acres at 10888 W. Dodge Road. The asset was 67 percent occupied at the time of sale and anchored by the Social Security Administration, which recently signed a 15-year lease renewal through 2036. The tenant mix includes medical and service retailers with eight vacant suites. Chris Garavaglia, Alex Perez and Dave Saverin of Marcus & Millichap represented the seller, a private individual out of California, and procured the buyer, a local value-add investment group.
NEBRASKA — National Health Investors Inc. (NHI) has acquired a portfolio of six Agemark memory care communities located in Nebraska for $63.5 million. The seller, Agemark Senior Living, will continue to operate the properties, which total 205 units, on a 15-year master lease with two five-year renewal options. Agemark operates the communities under the CountryHouse brand, which was established in 1997 exclusively for residents requiring personalized memory care.
Newer Posts