Nebraska

Dollar General Grows Supply Chain Network by 3.2 MSF With Five Distribution Facilities

by John Nelson May 9, 2023

GOODLETTSVILLE, TENN. — Dollar General Corp. (NYSE: DG) has announced recent expansions in its supply chain network that will grow the discount retailer’s distribution footprint by more than 3.2 million square feet. The Goodlettsville, Tenn.-based company has recently opened three new facilities and announced expansions of two existing campuses that will support Dollar General’s traditional goods, as well as its DG Fresh line of groceries. “The recent additions to our supply chain network aim to provide greater efficiencies, create additional jobs and drive positive economic impact,” says Tony Zuazo, executive vice president of Dollar General’s global supply chain. “We’re excited to continue growing our distribution center network to further support store growth and to better serve our customers and local communities.” Dollar General recently opened an 800,000-square-foot distribution center in Blair, Neb., that is expected to create approximately 400 new jobs at full capacity. The $140 million development is the company’s first ground-up dual facility, meaning it features both traditional distribution space and cold storage. Dollar General plans to host a formal opening ceremony for the facility this summer. The company recently increased distribution center storage capacity by more than 2 million square feet by opening two new permanent regional facilities …

May 9, 2023

Development Industrial Midwest Nebraska

Darland Breaks Ground on 408,332 SF Spec Warehouse in Gretna, Nebraska

by Kristin Harlow May 4, 2023

GRETNA, NEB. — Darland Construction Co. has broken ground on a 408,332-square-foot speculative warehouse near the Nebraska Crossing Outlets in Gretna, about 20 miles southwest of Omaha. NewStreet Properties is the developer and plans to build the larger Gretna Logistics Park, which will feature nearly 2 million square feet upon full build-out. The first warehouse will feature a clear height of 36 feet, 41 docks and four drive-in doors. Completion of the building is slated for March 2024. Cushman & Wakefield/Lund Co. is handling leasing for the new development.

May 4, 2023

Market Reports Midwest Midwest Market Reports Nebraska Office

Omaha Office Market Is Somewhat Insulated from Broader Economic Conditions

by Kristin Harlow April 27, 2023

By Eric Rose and Erick Tjarks, Cresa The Omaha office market proved to be somewhat insular from the effects of the many factors the real estate industry has experienced since 2020 (COVID-19, the hybrid work-from-home model, discussions of impending recession to name a few). Although down year-over-year, which given the recent interest rate hikes is expected, market sales volume remains above-average over the surveyed period going back to 2007. Though, this transaction volume dropped precipitously in the second half of 2022 and has continued to be slow in early 2023. However, the local market has seen pockets of increased activity, as Northwest Omaha saw heightened transactional volume, with Midtown Omaha, downtown Council Bluffs and suburban West Dodge following suit. As showcased above, market cap rates have largely accounted for interest rate hikes and are currently stable but subject to future interest rate increases. These statistics all point to a stable market, with fundamental performance on solid footing. However, it should be noted that, according to CoStar, 2022 is only the second year on record when demolitions outpaced gross deliveries, with only 93,000 square feet of net deliveries Omaha ranked in the bottom 10 of the top 60 office markets …

April 27, 2023

Acquisitions Iowa Midwest Nebraska North Dakota Restaurant Retail Wisconsin

Marcus & Millichap Brokers $35.1M Sale of Midwest Arby’s Portfolio

by Kristin Harlow April 24, 2023

IOWA, MONTANA, NORTH DAKOTA, NEBRASKA AND WISCONSIN — Marcus & Millichap has brokered the sale of a 22-property portfolio occupied by Arby’s in the Midwest for $35.1 million. The net-leased assets are located in Iowa, Montana, North Dakota, Nebraska and Wisconsin. Drew Isaac and Brian Bailey of Marcus & Millichap represented the seller, an Arby’s franchisee. As part of the sale, new leases were executed for the properties. The buyer was undisclosed.

April 24, 2023

Market Reports Midwest Midwest Market Reports Nebraska Retail

Today’s Retail Landscape in Omaha is Different, But Healthy

by Kristin Harlow April 20, 2023

By Holly Jones and Trey MacKnight, Cushman & Wakefield/The Lund Co. The world of retail real estate in the Midwest has been rapidly evolving over the past few years, with the pandemic serving as a catalyst for more change. As we move further into 2023, it’s becoming increasingly clear that the retail landscape is different than in years past, yet healthy in numbers. In this article, we’ll explore and explain some of the latest trends, developments, absorption and vacancy, and how this is impacting the industry as a whole. Whether you’re a retailer, landlord or investor, it’s essential to stay up to date with the current market and future developments. Omaha’s retail market recorded 350,931 square feet of positive absorption in the fourth quarter, bringing the year-to-date absorption total to 1 million square feet. Throughout 2022, there were 34 buildings delivered, increasing the retail inventory by 379,733 square feet. At the close of the year, more than 86 percent of the new construction was occupied, creating a very healthy environment. While there were sizable deals inked throughout the year, just over 85 percent of the new leases signed were under 5,000 square feet. Many of the leases were signed by …

April 20, 2023

Acquisitions Illinois Indiana Midwest Nebraska Ohio Wisconsin

Fidelis Realty Partners Acquires 1.5 MSF Portfolio of Former Sears Assets in Central US

by Kristin Harlow April 5, 2023

HOUSTON — An affiliate of Houston-based Fidelis Realty Partners has acquired an 11-property, 1.5 million-square-foot portfolio consisting of former Sears retail properties located in eight states across the central U.S. The portfolio is 90 percent leased by tenants such as Nordstrom Rack, Ulta Beauty, Total Wine, Dick’s Sporting Goods, Five Below, HomeGoods, The Dump, At Home, Ross Dress for Less, Dollar Tree and Best Buy. The properties are located in Tennessee, Wisconsin, Ohio, Illinois, Indiana, Nebraska, Texas and Arizona. Colby Mueck, Michael King, Christopher Knight and Jack Britton of JLL arranged acquisition financing on behalf of Fidelis through Symetra Life Insurance Co.

April 5, 2023

Acquisitions Hospitality Midwest Nebraska

Leisure Real Estate Advisors Arranges Sale of Holiday Inn Express Hotel in Fremont, Nebraska

by Kristin Harlow March 22, 2023

FREMONT, NEB. — Leisure Real Estate Advisors LLC has arranged the sale of the Holiday Inn Express hotel located at 2415 N. Lincoln Ave. in Fremont. The sales price was undisclosed, but the list price was $9.6 million. Built in 2003, the 94-room hotel is situated along the Platte River, about a 30-minute drive to the northwest from downtown Omaha. Brent Jaynes of Leisure Real Estate Advisors represented the seller, Fremont Hotels Inc. Oracle Holdings LLC, an investment group with another hotel holding in the Omaha area, was the buyer. Oracle will continue operating the hotel as a Holiday Inn Express under a new 15-year license agreement with IHG. Noble Hospitality will manage the property on behalf of Oracle.

March 22, 2023

Acquisitions Midwest Minnesota Multifamily Nebraska

Centerspace Sells Nine Multifamily Communities in Minnesota, Nebraska for $144.3M

by Kristin Harlow March 20, 2023

MINNESOTA AND NEBRASKA — Centerspace has sold nine multifamily communities in Minnesota and Nebraska for $144.3 million. The transaction included four properties in St. Cloud, Minn., totaling 692 units; two communities in the Omaha-Lincoln market comprising 498 units; and three properties in the Twin Cities market totaling 377 units. Proceeds from the sale will be used to pay down outstanding debt. CBRE served as the broker for the Minnesota assets, while MMG Real Estate Advisors was the broker for the Nebraska assets.

March 20, 2023

Acquisitions Midwest Multifamily Nebraska Seniors Housing

Green Courte Partners Acquires 95-Unit Active Adult Community in Omaha

by Kristin Harlow February 20, 2023

OMAHA, NEB. — Green Courte Partners LLC, a private equity firm currently investing through its Green Courte Real Estate Partners V investment fund, has acquired Bloomfield, a 95-unit active adult community in Omaha. The purchase price was undisclosed. True Connection Communities, the buyer’s wholly owned operating platform, will manage the community. The company’s operating portfolio now totals 18 communities with roughly 2,700 units. Green Courte plans to renovate units and upgrade the outdoor amenities.

February 20, 2023

Acquisitions Industrial Midwest Nebraska Self-Storage

Marcus & Millichap Brokers Sale of 324-Unit Self-Storage Facility in Bellevue, Nebraska

by Kristin Harlow January 27, 2023

BELLEVUE, NEB. — Marcus & Millichap has brokered the sale of 25th Street Storage, a self-storage facility featuring 324 non-climate-controlled units and totaling 57,700 net rentable square feet in Bellevue. The buyer and sales price were undisclosed. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company. The property also features 92 outdoor parking spaces that are available for rent.

January 27, 2023

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