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By Denny Sciscoe, The Lund Co. The Omaha industrial market is experiencing increased leasing velocity, positive rent growth and record-breaking development. The market consists of 18 submarkets, totaling 103 million square feet of inventory.  Omaha has traditionally been a risk-averse market with steady, slow-paced growth. Since 2016, Omaha has seen increased speculative development, which is absorbed as fast as it is built. In 2020, we began to see hyper-development, fueled by increased demand and developer confidence.  The increased demand was a result of COVID-19, where we experienced five years of growth in a 12-month period as occupiers scrambled to find space for inventories and e-commerce, which was exasperated by the demand to store “just in case” inventories. The supply and demand dynamics of our market have been almost perfectly balanced. The average deliveries are around 1.3 million square feet annually, and our average absorption has been around 1.4 million square feet.  Since the beginning of 2022, we are tracking about 5 million square feet of demand and another 2.2 million square feet of space that is currently in the construction pipeline. Overall vacancy currently sits at 2.6 percent, which is 100 basis points below our average of 3.6 percent.   …

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Fiber networks built with multifamily properties in mind offer network resilience while maximizing ROI for owners and operators. Well-constructed fiber networks are at the heart of meeting and exceeding residents’ growing Internet needs, especially when work-from-home culture and the constant need for online connection have made Internet slowdowns and downtime unacceptable for end users. Fiber can also strengthen connectivity across multifamily properties, shoring up the Wi-Fi services residents have come to know and on which they’ve come to depend. How does a national fiber network integrate with multifamily properties? By focusing just on the needs of the multi-dwelling unit (MDU). “Instead of building out 200-mile routes of duct and fiber, we build out ‘miracle miles’ in densely populated MDU areas. From that point, we’re able to easily grow or expand out from that area,” says Michael O’Linc, president of fiber services & campus communications at Pavlov Media. O’Linc stresses the importance of a more planned, methodical approach for MDUs. A network that serves multifamily buildings must be a network focused on backups and fail safes. The “miracle mile” method creates a main line with laterals — creating a ring shape as it expands. This approach to fiber makes networks easier to …

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SAN ANTONIO — Marcus & Millichap has arranged the sale of a portfolio of five self-storage facilities totaling 768 units throughout the greater San Antonio area. The portfolio totals 94,517 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a locally based private investor, in the transaction. The duo also procured the buyer, a limited liability company based in the Northeast. Both parties requested anonymity.  

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GRAND PRAIRIE, TEXAS — Houston-based investment firm Venterra Realty has acquired Mission Mayfield Downs, a 258-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. Built in 2002, the property features one-, two- and three-bedroom units ranging in size from 677 to 1,252 square feet. Amenities include a pool, fitness center, dog park and a coffee bar. The seller was not disclosed. Venterra plans to implement a value-add program.

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FORT WORTH, TEXAS — Fort Worth-based Empire Holdings has sold five Texas industrial properties totaling 241,114 square feet. The properties range in size from 16,000 to 149,415 square feet and are located in Fort Worth, Houston, metro Austin and San Antonio. Philadelphia-based Arden Logistics Properties purchased the assets as part of a larger portfolio deal for an undisclosed price. Seth Koschak and Jeff Rein of Stream Realty Partners, along with Zach Harris and Jeff Hughes of Stan Johnson Co., brokered the deal.

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SAN ANTONIO — Houston-based investment firm Fuller Realty Interests has purchased Parkway Plaza, a 189,390-square-foot office complex located adjacent to San Antonio International Airport. The complex comprises five single-story buildings that were constructed between 1999 and 2002. Bryan Leonard of Northmarq arranged an undisclosed amount of acquisition financing through a regional bank on behalf of Fuller Realty Interests. The seller was not disclosed.

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BALTIMORE — Dallas-based Topgolf plans to open its first Baltimore venue and third location in Maryland this Friday, bringing its global count to 81. Located at the intersection of Stockholm and Warner streets in the newly branded Walk at Warner Street entertainment district, the three-level venue sits adjacent to Horseshoe Casino Baltimore and M&T Bank Stadium, home of the Baltimore Ravens. Local media outlets report that construction is underway for a concert venue at the district called The Paramount Theater. The new Topgolf will employ around 500 staffers and include 90 outdoor hitting bays, food, beverages, private event rooms, rooftop terrace with a skylit atrium and a large video wall.

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HOUSTON — Edens has added five new tenants at Uptown Park in Houston. Lombardi Cucina Italiana will open a 9,350-square-foot restaurant; Polestar, a Swedish electric car brand, will occupy 3,420 square feet; and GLOSSLAB, a membership-based nail salon, will occupy 972 square feet. Rocambolesc, an ice cream shop, opened at the retail center earlier this year, and fertility and reproductive health clinic kindbody also recently opened a 5,360-square-foot facility at Uptown Park.

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ATLANTA — Berkadia has arranged $87.8 million in acquisition financing for a 13-property affordable housing portfolio in Georgia and South Carolina. Jeff Lawrence of Berkadia’s Atlanta office arranged the two-year loan on behalf of the borrower, Georgia-based Infinity RE Impact. The portfolio comprises 12 Georgia properties, including Lake Forest Apartments in Gainesville; Forest Creek at Moultrie Apartments in Moultrie; Lakeview Apartments in Carrollton; Rolling Ridge Apartments in Athens; Shenandoah Forest Apartments in Newnan; Sunny Brook Apartments Road in Elberton; Briarwood Apartments in Jesup; Indian Oaks in Fort Valley; Shadowood in Augusta; The Cliffs in Dalton; Georgian Woods in Douglas; and Riverbend in Milledgeville. The lone South Carolina property in the portfolio is Crestview Village in Easley.

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PORT RICHEY, FLA. — Marcus & Millichap has brokered the $7.7 million sale of Harmony Plaza, an 82,820-square-foot shopping center located at 11932 U.S. Highway 19 in Port Richey. James Medefind, Jim Shiebler, James Garner and Jonathan Gerszberg of Marcus & Millichap represented the seller, a California-based private investor, in the transaction. A private investor purchased the property. Built in 1973 and located on a six-acre site, Harmony Plaza was 87 percent leased at the time of sale to tenants including Big Lots.

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