Nebraska

Grandbridge Finances $25.5M Loan for Multifamily Property in Omaha

by Amy Works July 2, 2015

OMAHA, NEB. — Grandbridge Real Estate Capital has secured a $25.5 million first mortgage loan for a multifamily property in Omaha. The funding was provided by a Grandbridge correspondent life insurance company and features a 10-year term and a 30-year amortization schedule. Built in 1958 as an office building and later converted to residential, the 300-unit Class A apartment building is 100 percent leased. Dick Riley and Brett Olson of Grandbridge’s Minneapolis office originated and closed the refinance transaction.

July 2, 2015

Midwest Nebraska Retail

Investors Realty Inc. Brokers $7M Sale of Two Shopping Centers in Omaha

by Amy Works June 24, 2015

OMAHA, NEB. — Investors Realty Inc. has brokered the sale of two shadow-anchored shopping centers in Omaha. The assets, Fort Plaza and Weber Plaza, sold for $7 million. Tenants of the centers include First National Bank, VooDoo Taco, Dollar General, Citi Trends and the Douglas County Treasurer. Ember Grummons of Investors Realty represented the buyer, Baceline Investments LLC, while Erin Pogge and Lindsay Bans of The Lerner Company represented the undisclosed seller in the transaction.

June 24, 2015

Midwest Nebraska Retail

Inland Real Estate Income Trust Buys The Shoppes at Market Pointe in Nebraska

by Amy Works June 4, 2015

PAPILLION, NEB. — Inland Real Estate Income Trust Inc. has acquired The Shoppes at Market Pointe in Papillion. Located at 8650 71st Plaza, the 253,903-square-foot property was constructed in 2006. The property is 99.4 percent occupied by Lowe’s Home Improvement Warehouse, Kohl’s, Panera Bread, America’s Best Contacts & Eyeglasses, Payless ShoeSource, Qdoba, Arby’s and Five Guys Burgers & Fries.

June 4, 2015

Loans Midwest Multifamily Nebraska

NorthMarq Capital Secures $4.7M in Refinancing for Two Multifamily Properties

by Amy Works May 29, 2015

OMAHA, NEB. — NorthMarq Capital has secured a $4.7 million loan for the refinancing of two multifamily properties in Omaha. The properties are Four Seasons Apartments and South Park Apartments. Jason Kinnison of NorthMarq Capital’s Omaha office arranged the financing for the undisclosed borrower through NorthMarq’s seller-servicer relationship with Freddie Mac.

May 29, 2015

Market Reports Midwest Midwest Market Reports Multifamily Nebraska

Why The Performance of Omaha’s Apartment Market Continues to Excel

by Danielle Everson April 30, 2015

Just like Omaha’s diverse and strong economy — a 3.2 percent unemployment rate as of December 2014 — the local apartment market continues to shine. Occupancy remains high, rents are up significantly over the past year as additional charges continue to be passed through to tenants, and new construction has not yet overtaken demand. In short, 2014 was another golden year for apartments. We expect more of the same in 2015 because the market has not yet peaked. The latest estimate by the Institute of Real Estate Management (IREM) is that there are now 95,128 apartment units in the Omaha metro area, with an overall occupancy level of nearly 96 percent as of fall 2014. This strong occupancy level is virtually unchanged from the fall of 2013 when it stood at 96.17 percent. From a historical perspective, the occupancy level for Omaha’s market over the past decade has remained strong, ranging from a low of 92 percent to a high of 96 percent. We expect Omaha’s occupancy rate in 2015 to remain strong, likely in the 95 to 96 percent range. Rents on the Rise Not surprisingly, the higher occupancy gives landlords greater pricing power. Historically we have observed about …

April 30, 2015

Industrial Market Reports Midwest Midwest Market Reports Nebraska

New Industrial Parks Will Help Ease Tight Market Conditions in Omaha

by Danielle Everson April 23, 2015

For years the Omaha industrial market — approximately 68 million square feet strong — seemed to be slow and steady. When the market tightened, developers were still able to meet demand. Over the past 15 years, companies looking to construct new facilities have historically had an ample number of options in which to relocate along I-80 in the southwest part of the metro area. The Great Recession of the late 2000s seemingly halted speculative construction. During the rebound of the early 2010s, the vacancy rate began to steadily decline. Tenants started to absorb excess space at a healthy clip. All of a sudden, the market has begun to face two overwhelming challenges: virtually full occupancy among rental space and few readily available land options to build new product. Space Users Stay Active Industrial vacancy in Omaha has continued to plummet, ending 2014 at a 3 percent vacancy rate. Both large national companies and local businesses have accounted for the healthy absorption of space. Sergeant’s Pet Care Products (which built 349,680 square feet), Airlite Plastics (71,272 square feet), and Election Systems & Software (40,000 square feet) all increased their footprint in 2014. Additionally, several smaller transactions have occurred this year. Companies …

April 23, 2015

Midwest Nebraska Retail

Block & Co. Arranges 44,327 SF Lease for Best Buy in Omaha, Neb.

by Danielle Everson April 21, 2015

OMAHA, NEB. — Block & Co. Inc. Realtors in Kansas City has arranged a 44,327-square-foot retail lease for Best Buy in Omaha. The electronics store will occupy space at Heritage Plaza Shopping Center at 115 N. 76th St. Other tenants at the shopping center include Buffalo Wild Wings, Chuck E. Cheese’s, Charleston’s Restaurant and Command Center. Best Buy plans to open during the fourth quarter. David Block of Block & Co. negotiated the lease transaction on behalf of the landlord.

April 21, 2015

Midwest Multifamily Nebraska

Metonic Real Estate Solutions Acquires 60-Unit Apartment Complex in Omaha, Neb.

by Danielle Everson April 3, 2015

OMAHA, NEB. — Metonic Real Estate Solutions has acquired Heritage Heights Apartments, a 60-unit apartment community in Omaha. Built in 1973, Heritage Heights Apartments offers one- and two-bedroom apartments ranging in size between 700 and 1,000 square feet. The property is located within one mile of I-80, Westwood Shopping Plaza and Montclair Shopping Center. Omaha-based Seldin Co. will manage the property. Seldin Co. plans to make renovations at the property, which will include the addition of new appliances, upgraded flooring and interior painting. Exterior renovations include the addition of new siding, windows and landscaping.

April 3, 2015

Midwest Nebraska Retail

Cohen Financial Arranges $13.3M Acquisition Loan for Retail Property in Lincoln, Neb.

by Danielle Everson March 11, 2015

LINCOLN, NEB. — Cohen Financial has arranged a $13.3 million acquisition loan for Centro Plaza, a 111,978 square-foot retail shopping center located at 400 N 48th Street in Lincoln. TJ Maxx anchors the property, which will also soon include a DSW and Michaels. Dan Rosenberg of Cohen Financial’s Chicago office secured the loan with a regional bank. The borrower is an entity controlled by Integris Ventures.

March 11, 2015

Hospitality Midwest Nebraska

HREC Arranges Sale of Holiday Inn in Lincoln, Neb.

by Danielle Everson February 26, 2015

LINCOLN, NEB. — HREC Investment Advisors has brokered the sale of the 231-room Holiday Inn Downtown located in Lincoln. AJ Capital Partners purchased the property for an undisclosed sales price. The hotel is located within the historic Haymarket District of downtown Lincoln and is in walking distance to the University of Nebraska and the Nebraska State Capitol. The 16-story Holiday Inn Lincoln was built in 1974 and will undergo a major renovation. Geoff Davis, Patrick Culligan and Scott Kaniewski of HREC Investment Advisors represented the seller, Rick Takach of Vesta Lincoln Partners LLC, in the sale. Rick Takach and Vesta Hospitality Services will continue to manage the property.

February 26, 2015

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