Nebraska

128-Room Cambria Hotel Opens in Downtown Omaha

by Jeff Shaw May 17, 2019

OMAHA, NEB. — Choice Hotels International Inc. has opened the Cambria Hotel Omaha Downtown. The 128-room hotel is the newest addition to Omaha’s NoDo district. The property features a fitness center, multi-function meeting space and onsite dining with local craft beer on tap. The LEED Silver-certified hotel incorporates a number of eco-friendly features, including a solar array on the roof, a saltwater pool that reduces chemical usage, electric vehicle car charging stations and recycled building materials. A partnership between O’Reilly Hospitality Management and Robert Low of Prime Trucking Co. developed the project.

May 17, 2019

Loans Midwest Multifamily Nebraska

NorthMarq Arranges $27M Refinancing for Multifamily Portfolio in Lincoln, Nebraska

by Kristin Harlow May 7, 2019

LINCOLN, NEB. — NorthMarq Capital has arranged a $27 million loan for the refinancing of the Chateau Apartments Portfolio, which totals 647 units in Lincoln. Bob Chalupa of NorthMarq arranged the fixed-rate loan, which features a 15-year term and a 20-year amortization schedule. A life insurance company provided the loan. The borrower was not disclosed.

May 7, 2019

Development Midwest Nebraska Office

McCarthy to Construct, Occupy New Office Building in Omaha

by Kristin Harlow May 7, 2019

OMAHA, NEB. — McCarthy Building Cos. Inc. will break ground on Wednesday, May 8 on an office and warehouse building that will serve as the company’s new local office in west Omaha. The 15,000-square-foot development will enable the construction company to expand its services within the healthcare, education, manufacturing, commercial, industrial and entertainment sectors. The office will include conference facilities and flexible gathering spaces. The climate-controlled warehouse will accommodate the delivery and short-term storage of construction materials as well as provide space for pre-assembly of building components. Completion is slated for December. Project partners include developer Tetrad Property Group, architect DLR Group and materials testing company Thiele Geotech. St. Louis-based first established its full-service Omaha office in 2007 and now oversees more than $200 million in construction work throughout Nebraska.

May 7, 2019

Loans Midwest Nebraska

Petros PACE Finance Provides $1.7M Financing for Indoor Sports Facility in Lincoln, Nebraska

by Kristin Harlow April 29, 2019

LINCOLN, NEB. — Petros PACE Finance LLC has provided a $1.7 million commercial property-assessed clean energy (CPACE) loan for the construction of the Lincoln Sports Facility, a 92,000-square-foot project in Lincoln. Manzitto is the developer. The project, which will incorporate energy-saving measures in the construction, will include eight basketball courts that can be converted into volleyball courts as well as a 5,000-square-foot athletic training center. The facility will host practice games and regional tournaments for area youth. Energy-efficient features include lighting, roofing, windows and heating and cooling systems. CPACE is a financing structure in which building owners borrow money for energy efficiency, renewable energy, or other projects and make repayments via an assessment on their property tax bill, according to the U.S. Department of Energy.

April 29, 2019

Market Reports Midwest Midwest Market Reports Mixed-Use Nebraska

Omaha Undergoing ‘Remarkable’ Downtown Transformation

by Kristin Harlow April 25, 2019

Remarkable. It’s the word that continues to pop up in interviews and conversations relating to the present transformation occurring in Omaha’s downtown area. If you think you might be experiencing déjà vu, it’s likely because you are. After all, it wasn’t that long ago when the same word was being used to describe the transformation that took place in downtown Omaha 10 to 15 years ago. It was at that time that approximately $2.5 billion was invested in Omaha’s downtown through a combination of public and private developments. Omaha introduced a laundry list of new buildings and projects, including the city’s new arena and convention center (presently branded the CHI Health Center), TD Ameritrade Park (the home of College World Series), the 45-story First National Bank Tower, the National Park Service Building, Gallup Organization’s operational headquarters, Union Pacific’s 1.1 million-square-foot headquarters, The Holland Performing Arts Center, Roman L. Hruska Federal Courthouse and The Bob Kerrey Pedestrian Bridge. That was remarkable. What could be so “remarkable” about the current downtown Omaha transformation? The answer is a redevelopment of the Gene Leahy Pedestrian Mall as part of the $300 million Riverfront Revitalization project. You might be thinking $300 million doesn’t sound remarkable …

April 25, 2019

Acquisitions Industrial Midwest Nebraska Self-Storage

StorageMart Adds Four Self-Storage Locations in Greater Omaha

by Kristin Harlow April 22, 2019

OMAHA, NEB. — StorageMart has acquired the Omaha Mini Storage Portfolio, adding four self-storage facilities to its footprint. The properties, located on Harrison Street, I Street and Industrial Road, offer climate-controlled units as well as drive-up units. StorageMart plans to make renovations to the facilities, including adding perimeter fencing, gates with keypad access and LED lighting. Plans also call for renovated offices, new paint and paving repairs. StorageMart is based in Columbia, Mo.

April 22, 2019

Market Reports Midwest Midwest Market Reports Multifamily Nebraska

Apartments Lead the Way in Omaha’s Real Estate Market

by Kristin Harlow April 18, 2019

Omaha’s apartment market continues to be fundamentally strong and attractive to national and regional investors. According to Reis, Omaha’s asking rental rates have increased in every quarter over the past eight years, and vacancy remains low at 5.6 percent as of the end of 2018. Historically Omaha has had low vacancy. The 4.6 percent average vacancy rate over the past decade and 4.4 percent over the past five years is in line with the five-year national average of 4.5 percent. Looking forward, Reis expects the vacancy rate in 2019 to remain steady at 5.6 percent, and Colliers International expects the vacancy rate to dip slightly during 2019. Remaining affordable Not surprisingly, the relatively tight market, coupled with new construction, has continued to drive rents higher with asking rental rates growing at a strong 5.1 percent during 2019, according to Reis. Colliers, as well as local developers we surveyed, expect that rents will continue to grow in 2019, but at a more modest level, which we expect will be very close to Omaha’s average annual increase of 2.7 percent over the past 10 years. Importantly, Omaha also continues to have a relatively low cost of living for apartment dwellers with an …

April 18, 2019

Acquisitions Midwest Multifamily Nebraska

Investors Realty Brokers $9.2M Sale of Apartment Property in Lincoln, Nebraska

by Kristin Harlow April 15, 2019

LINCOLN, NEB. — Investors Realty Inc. has brokered the sale of Williamsburg Apartments in Lincoln for $9.2 million. The 11-building, 138-unit complex is located at 3400 Serenity Circle. The property was constructed between 1978 and 1984. John Heine and R.J. Neary of Investors as well as Todd Watson of Century Sales & Management LLC represented the seller. The buyer, a private investor, purchased the asset as part of a 1031 tax-deferred exchange.

April 15, 2019

Development Healthcare Midwest Nebraska

Darland Breaks Ground on 38,844 SF Health Clinic in Millard, Nebraska

by Kristin Harlow April 3, 2019

MILLARD, NEB. — Darland Construction Co. has broken ground on the new CHI Health Clinic Millard, a 38,844-square-foot facility near Omaha. The clinic will feature 59 exam rooms and focus on primary care with specialties of radiology, ultrasound, behavioral health, nutrition and physical therapy. The property will be located south of an existing clinic near 153rd and Q streets. A partnership between CHI Health and Denver-based NexCore Group is developing the project. Completion is slated for spring 2020.

April 3, 2019

Development Industrial Midwest Nebraska

Scoular to Open $50M Manufacturing Facility in Seward, Nebraska

by Kristin Harlow March 25, 2019

SEWARD, NEB. — Scoular, an Omaha-based company that offers supply chain solutions for grain, feed and food ingredients suppliers, has unveiled plans to build a new freeze-drying manufacturing facility in Seward. The facility will establish Scoular’s new freeze-dried pet food ingredients platform. Scoular will invest approximately $50 million to build the facility, which is expected to create nearly 100 new jobs. A groundbreaking ceremony is expected to take place in June. Construction of the 105,000-square-foot building will take approximately 14 to 16 months to complete and be operational by early fall 2020. An indirect, wholly owned subsidiary of the company will construct the facility.

March 25, 2019

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