OMAHA, NEB. — Investors Realty has brokered the sale of the Hi-Park Campus in Omaha for $11.4 million. The asset consists of eight flex industrial buildings that were fully leased at the time of sale. Located on the southeast corner of 94th and F streets, the campus spans 150,000 square feet. Ember Grummons of Investors Realty represented the buyer, Fulton Acquisitions. Clint Seemann of Investors Realty and John Dickerson of OMNE represented the seller, Hannibal Properties.
OMAHA, NEB. — Investors Realty has brokered the sale of two office buildings in Omaha for $21.9 million. The single-tenant, Class A properties are located at 17605 and 17645 Wright St. The buildings serve as the headquarters for Orion Advisors Solutions, which maintains approximately 1,000 employees. Ember Grummons of Investors Realty represented the seller, an affiliate of Lockwood Development. Grummons also procured the buyer, Sentinel Net Lease.
OMAHA, NEB. — NorthMarq has arranged an $8 million loan for the refinancing of Maple Ridge Apartments, a 174-unit multifamily community in Omaha. Bill Mork of NorthMarq arranged the 15-year loan, which features a fixed interest rate of approximately 3 percent and a 30-year amortization schedule. A life insurance company provided the loan on behalf of the undisclosed borrower.
RALSTON, NEB. — CBRE has provided $4.9 million in long-term agency financing for Orleans Square Apartments, an 83-unit multifamily community in the Omaha suburb of Ralston. Josh Larsen of CBRE originated the financing through Freddie Mac’s Small Balance Loan program on behalf of the borrower, Thrive Street Living. The 10-year loan features a fixed interest rate of 3.26 percent and amortizes over 30 years.
LINCOLN, NEB. — MAG Capital Partners LLC has sold an approximately 88,000-square-foot athletic and tennis facility in Lincoln to the property’s tenant, Genesis Health Clubs. The sales price was undisclosed. MAG Capital Partners purchased the property, located at 5300 Old Cheney Road, in 2017 and leased it to Genesis. The property offers tennis, racquetball, aquatics, youth programs, tanning, massage therapy, a café and pro shop. Plans for a major remodel are underway. Fort Worth, Texas-based MAG Capital Partners is led by principals Dax T.S. Mitchell and Andrew Gi. Genesis operates 57 locations across six states.
By Tom Graf, NAI FMA Realty Over the past decade, Lincoln has experienced sustained growth and earned a reputation as a place to be in the Midwest. Its low unemployment, stable economy, low cost of living, prospering tech scene as well as lifestyle and entertainment fitting of a big city with the feel of a small community has insulated Lincoln better than many cities of its size. Perhaps this is most compelling with the number of cranes spotted in the skies back in 2008 and again in 2020. Just as many cities were struggling, Lincoln built its way out of the Great Recession in 2008 and 2020 was no exception. Retail Throughout the economic uncertainty brought on by the COVID-19 pandemic, Lincoln’s retail landscape fared well with vacancy holding at 7.1 percent for the year in 2020. New construction was active throughout the market despite store closures and bankruptcies making the national headlines. For some opportunistic retailers, vacant spaces opened the door to take advantage of the market and negotiate better terms for new locations. Retailers thriving in today’s market are the “daily needs” retailers — grocery, home improvement and discount concepts. Some niche online businesses, which have grown through …
By John Dickerson, OMNE Partners Our Omaha-area industrial sector has come through the pandemic very well, compared with other commercial sectors. We have not had to work out many rent payment plans with tenants, and industrial users going out of business have been minimal. Omaha has survived and come out of 2020 well economically. Our unemployment rate is the second lowest in the country. Our cost of living has also been lower than most other major cities in the Midwest. This low cost of living carries over to real estate rental rates and operating costs. Leasing activity Industrial leasing has been quite good in Omaha for years. Our vacancy rates have been below 5 percent for a number of years and currently have been about 3.5 percent. By reviewing spaces for lease on Crexi, an internet marketing service, there are about 120 properties that I identified with space available with a total of over 3 million square feet for lease. Rental rates for industrial vary, of course, for typical reasons — age and condition of the property, location and how much a space/building might be finished in office or other special improvements. In Omaha, many flex buildings have users that …
By Jared Sullivan, The Lerner Co. The retail commercial real estate industry has been an interesting world to observe over the last several years, to say the least. From the repurposing of massive retail boxes and malls following the fall of Gordmans, Sports Authority, Sears and others, to the unpredictable global environment we have been experiencing over the last 12 months due to COVID-19. One thing that’s certain is the ability to quickly adapt within the retail world is a critical element to remain relevant as the mold of consumers’ needs continues to evolve. Fortunately for the Omaha and Lincoln retail markets, the downturn for businesses and consumers alike has been significantly less than the more densely populated cities and suburbs of New York and California. Nevertheless, the impact of government shutdowns and restrictions throughout 2020 has handicapped more businesses and landlords than we ever expected. As we emerge from this storm, we must ask ourselves “What will the retail landscape look like moving forward?” Here to stay One outcome of 2020 we anticipate seeing as a gold standard moving forward has been the implementation of curbside carryout and mobile order pickup services. While the concept of these services is …
OMAHA, NEB. — Greystone has provided an $11.9 million HUD-insured loan for the refinancing of Heritage Pointe Assisted Living in Omaha. The community features 108 assisted living beds and 20 memory care beds. Amenities include full dining service, recreational activities, exercise facilities, a movie theater and a salon. Eric Rosenstock and Jesse Yodice of Greystone originated the financing on behalf of the borrower, Heritage Communities. The 35-year loan features a fixed interest rate.
OMAHA, NEB. — Omaha National Insurance Group has signed a 53,274-square-foot office lease at Embassy Plaza in Omaha. The insurance group will occupy space within Suite 300 of the property, which is located at 9110 W. Dodge Road. Connor Lund and Spencer Secor of Cushman & Wakefield | Lund Co. represented the landlord, Horse CF-Embassy LLC. Marc Siemers and Eric Renner of OMNE Partners represented the tenant, which is moving from another location.
