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DevelopmentIndustrialMidwestNebraska

Darland Constructs 61,000 SF Warehouse in Omaha, Nebraska

by Kristin Harlow

OMAHA, NEB. — Darland Construction Co. has completed a more than 61,000-square-foot warehouse near the intersection of Highway 50 and I-80 in Omaha. The building features a clear height of 26 feet, eight dock doors and interstate signage. Preliminary budgeting for the project began in 2018, but concerns about rising prices and labor shortages during the pandemic put the project on hold, according to Darland. Investors Realty negotiated a full-building lease for Southern Carlson before the building was completed. The tenant is a commercial tool, fastener and jobsite supply company.  

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Leasing ActivityMidwestNebraskaOffice

Turner Construction Signs 6,132 SF Office Lease at Farnam Executive Center in Omaha

by Kristin Harlow

OMAHA, NEB. — Turner Construction has signed a 6,132-square-foot office lease at Farnam Executive Center in Omaha. The property, located at 10810 Farnam Drive and recently purchased by White Lotus Group, rises four stories and totals 92,242 square feet. Lease opportunities remain available for users looking for 4,000 to 79,644 square feet. Chris Mensinger, Justin Spooner and Lizzie Mensinger of Colliers represented the landlord in the lease with Turner.

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AcquisitionsMidwestNebraskaRetail

Hanley Investment Group Arranges $7.7M Sale of Topgolf-Occupied Property in Omaha

by Kristin Harlow

OMAHA, NEB. — Hanley Investment Group Real Estate Advisors has arranged the sale of a Topgolf-occupied property in Omaha for $7.7 million. The property marks the first and only location for Topgolf in Nebraska. Located at 908 N. 102nd St., the asset neighbors a Chipotle Mexican Grill, X-Golf and a future nine-acre mixed-use development. The 24,496-square-foot Topgolf building was constructed in 2020. The Omaha Topgolf facility features 72 climate-controlled hitting bays, a full-service restaurant, bars, private event space, a rooftop terrace and more than 200 HDTVs. Jeff Lefko and Bill Asher of Hanley represented the seller and developer, a private investor based in Omaha. Ashish Wadhwani of Wadhwani Holdings represented the buyer, a private investor based in metro Houston.

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DevelopmentMidwestMultifamilyNebraska

Sullivan Development Breaks Ground on 28-Unit Leavenworth Lofts Apartment Building in Omaha

by Kristin Harlow

OMAHA, NEB. — Developer Sullivan Development Co. has broken ground on Leavenworth Lofts, a 28-unit apartment building in Omaha. The project site at 3612 Leavenworth St. is within walking distance of the University of Nebraska Medical Center. Completion is slated for spring 2025. Leavenworth Lofts will feature one-bedroom units averaging 1,000 square feet. Penthouse units on the fifth floor will feature secured access and private rooftop terraces. Unique to the property is a short-term rental option for units on the lower level as well as a gallery in the lobby that will spotlight rotating exhibits by local artists. Residents will have access to concierge housekeeping services as well as a controlled-entrance garage. BVH Architecture and Ronco Construction make up the project team.

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DevelopmentHealthcareMidwestNebraska

Darland Completes 38,000 SF Medical Office Building in Omaha

by Kristin Harlow

OMAHA, NEB. — Darland Construction Co. has completed a nearly 38,000-square-foot medical office building for MD West One, an Omaha-based orthopedic, neurosurgery and spine clinic. R&R Realty was the developer. The facility is located on the southwest corner of 192nd Street and West Dodge Road in Omaha. The clinic has more than 40 exam rooms and dedicated areas for X-ray, radiology, casting and procedures. The property is located within the Fountain Ridge West development in an area of the West Dodge corridor that is slated for major development in the coming years.

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DevelopmentLeasing ActivityMidwestNebraskaRetail

Aldi to Open 20,000 SF Store in Papillion, Nebraska

by Kristin Harlow

PAPILLION, NEB. — Aldi is opening a new 20,000-square-foot grocery store at Settlers Creek in Papillion. Completion is slated for spring 2024. The store, which will be situated between Sam’s Club and Hobby Lobby, marks Aldi’s 12th location in Nebraska and first in Papillion. Settlers Creek is a 250,000-square-foot shopping center owned and developed by The Lerner Co. and RED Development.

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Leasing ActivityMidwestNebraskaOffice

Colliers Negotiates 12,598 SF Office Lease at Farnam Executive Center in Omaha

by Kristin Harlow

OMAHA, NEB. — Colliers Nebraska has negotiated a 12,598-square-foot office lease at Farnam Executive Center in Omaha. Adam Marek of Colliers represented the tenant, a national law firm focused on assisting government agencies with improving service delivery. Chris Mensinger, Justin Spooner and Lizzie Mensinger of Colliers represented the landlord, White Lotus Group. Recently purchased by White Lotus Group, Farnam Executive Center rises four stories and totals 92,242 square feet.

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Market ReportsMidwestMidwest Market ReportsNebraskaOffice

Surge in Sublease Space Puts Pressure on Omaha Office Market

by Kristin Harlow

By Mike Rensch, Investors Realty The Omaha office market is facing an increasing amount of sublease space, which is having a significant impact on what spaces tenants prefer to lease right now. This is directly affecting all aspects of the overall office market as well. As the second quarter came to a close, the direct vacancy rate was 7.4 percent, compared with 7.6 percent in the second quarter of 2022.  With that said, those numbers do not paint the whole picture because they do not account for the amount of sublease space on the market. The availability rate (which includes direct space and sublease space available) was at 9.8 percent compared with 8.4 percent in the second quarter of 2022. We see this trend continuing for the time being as companies grapple with whether or not to bring their employees back to the office.    At the end of the second quarter, there was 841,000 square feet of sublease space available in Omaha, up from 723,000 square feet at the end of the second quarter of 2022. This represents a 14 percent increase in sublease space over the past year. It reached its peak of 919,000 square feet of available …

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Affordable HousingDevelopmentMidwestMultifamilyNebraska

The Annex Group to Develop $52.7M Affordable Housing Community in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — The Annex Group is developing Union at Antelope Valley, a $52.7 million affordable housing community in Lincoln. The five-story project will feature 187 one-, two- and three-bedroom units that will be reserved for households whose income levels are at or below 60 percent of the area median income. Completion is slated for summer 2025. The community will be situated on 1.7 acres at 1810 K. St. within the eastern portion of downtown Lincoln. Amenities will include a community center, fitness center, dog park, courtyard, private garage and onsite management. Like all of Annex’s affordable housing communities, Union at Antelope Valley will offer a customized Community Impact Plan that will help connect residents with community resources. Partners on the project include BVH Architecture, REGA Engineering Group and Summit LIHTC Consulting. US Bancorp Impact Finance provided more than $21 million in federal Low-Income Housing Tax Credit equity financing, while Cedar Rapids Bank & Trust provided more than $25 million in debt financing. Annex’s construction arm, Annex Construction of Nebraska LLC, is the general contractor.

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AcquisitionsMidwestNebraskaOffice

Investors Realty Brokers $6.2M Sale of Office Building in Omaha

by Kristin Harlow

OMAHA, NEB. — Investors Realty Inc. has brokered the sale of a 66,011-square-foot office building in Omaha for $6.2 million. The property at 8420 W. Dodge Road is 76 percent leased to Senior Market Sales. Ember Grummons and JP Raynor of Investors Realty represented the seller, an entity doing business as 8420 LLC. Joseph Failla of Atrium Properties represented the buyer, an entity doing business as 5332 So. 138th St. LLC.

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