OMAHA, NEB. — Petros PACE Finance has provided $13.8 million in C-PACE funding for a 160-unit apartment development in Omaha’s Blackstone District. The funding is for environmental and energy-efficiency measures, including interior and exterior LED lighting, roof and wall insulation, a high-efficiency HVAC system and low-flow water fixtures. The property also features 18,000 square feet of retail space. C-PACE, otherwise known as Commercial Property Assessed Clean Energy, is a tool that can finance energy efficiency and renewable energy improvements at office, industrial, retail and multifamily properties, among others.
OMAHA, NEB. — Airlite Plastics Co. Inc. and Marianna Industries Inc. have leased the former Gordmans distribution center located at 9202 F St. in Omaha. Kevin Stratman, Clint Seemann and Ryan Zabrowski of Investors Realty represented the landlord, an entity doing business as G&I IX Specialty Ret LLC. The property was left vacant by Gordmans after its parent company, Stage Stores, filed for bankruptcy. The center underwent a substantial renovation led by Investors Realty’s project management team. Paul LaFave of CBRE represented Marianna, which leased 81,090 square feet. Airlite leased 186,405 square feet and did not have a representative. Omaha-based Airlite sells plastic containers and reusable products. Omaha-based Marianna is a hair care formulator and manufacturer.
OMAHA, NEB. — First National Realty Partners has purchased The Shoppes at Grayhawk in Omaha for an undisclosed price. The 221,000-square-foot shopping center is located on West Maple Road. A 140,000-square-foot Lowe’s anchors the property. Additional tenants include Michaels, Dollar Tree, Chipotle, Jimmy John’s and First Watch. Ben Snyder and Zack Bates of Matthews Real Estate Investment Services represented the undisclosed seller.
OMAHA, NEB. — Ford Storage and Moving Co., a Nebraska-based warehouse company, has signed a 150,280-square-foot industrial lease at R&R Commerce Park in Omaha. R&R Commerce Park is a four-building industrial park spanning 1.1 million square feet. The development features a clear height of 32 feet and convenient access to I-80. Sam Andres and David Maenner of CBRE represented the tenant in the lease negotiations. R&R Realty Group owns R&R Commerce Park.
What does the Lincoln, Nebraska commercial real estate market have to offer? Quite simply it has land, room to grow, affordability and a centralized location. Pair these attractive and unique features with an educated workforce in a culturally diverse community and the answer becomes clear. Lincoln’s commercial real estate market has a lot of potential. Despite Lincoln’s small size of approximately 300,000 people, it is experiencing the same challenges and triumphs as the bigger metropolitan areas. Warehouse space One of the biggest challenges in the Lincoln market is the low supply of industrial space in a high-demand environment. The industrial vacancy rate as of year-end 2021 was 1.6 percent. Any new product that comes on market is leased quickly and the per-square-foot selling price is trending up with a 31 percent increase in just three years. Unfortunately, in the Lincoln market, the value of new industrial construction building permits has been trending down over the last five years. The rising cost of construction makes this trend even more significant; many developers are unwilling to invest in speculative product without the certainty that tenants will pay the rental rate necessary to provide an adequate rate of return. One local developer, Las …
Omaha’s office market saw more total lease transactions in 2021 for more total space than in any year since our firm has tracked it — 281 transactions for nearly 1.8 million square feet. In a typical year, Omaha usually sees approximately 200 transactions for 1 million square feet. In addition to leasing activity, net absorption was positive at 310,391 square feet, and Omaha’s overall vacancy rate contracted slightly over the year. In turn, year-over-year market rent growth reached its highest point since pre-COVID-19. “Though slow-moving compared with other major U.S. metros, Omaha’s office market is showing early signs of a recovery thanks to its diversified employment base,” states CoStar. It seems fair to describe the market as stable as we are not seeing large swings in space availability and pricing, but it feels tenuous, just as corporate office space decision-makers are dealing with uncertainty. We continue to see office users choosing to wait and see on decisions affecting demands for office space. Most of the numbers are trending the right way, albeit slowly, but Omaha’s vacancy rate is more than 300 basis points higher than seen in many years before the pandemic, and we finished 2021 with 324,398 square feet …
LA VISTA, NEB. — Cushman & Wakefield/The Lund Co. has brokered the sale of the Securities America Office Complex in La Vista, a southern suburb of Omaha. The Class A office complex consists of three buildings totaling 148,524 square feet. The property is situated within the 237-acre Southport development, a major mixed-use project near I-80. Richard Secor Jr. and John Lund of Cushman & Wakefield/Lund represented the seller. Further details of the transaction were not disclosed.
OMAHA, NEB. — JLL Capital Markets has brokered the sale of One Pacific Place in Omaha for $34 million. Trader Joe’s anchors the 90,945-square-foot retail center, which is 93 percent leased. Other tenants include Talbots, Chico’s, Wheatfield’s, Dentistry for Health, Five Salon, Hand & Stone Massage & Facial Spa, Bath & Body Works, Eddie Bauer, Club Champion, Power Life, Nothing Bundt Cake and Andre’s. Completed in 1989, the property was last renovated in 2010. Amy Sands, Clinton Mitchell, Michael Nieder and Chris Gerard of JLL represented the seller, a joint venture between RED Development and BIG Shopping Centers. Lund Co. Investments Inc. was the buyer.
OMAHA, NEB. — Triage Staffing, a healthcare staffing firm based in Omaha, is expanding its corporate headquarters to 100,000 square feet. John Maaske and Tyler Pieper, Triage’s founders, purchased the building at 13609 California St. along with a group of investors. The building more than triples Triage’s current space. Architect Leo A. Daly has started the design process and is planning a major overhaul of the building’s interior. Renovations will begin in August, with occupancy slated for February 2023. Triage was founded in 2006 with four employees. The company expects to hire its 500th employee sometime this year.
LA VISTA, NEB. — Cushman & Wakefield/The Lund Co. has negotiated both the lease renewal and sale of 11720 Peel Circle in La Vista, a suburb just south of Omaha. The 178,368-square-foot industrial property sits on 16 acres within the Sarpy West submarket. Denny Sciscoe of Cushman & Wakefield/Lund represented the current tenant in its lease renewal. Upon completion of the lease transaction, Sciscoe also marketed the building for sale. The total consideration for both the lease renewal and the sale was $23 million.