digest commercial real estate - investors...

december 2013

Sales & Leasing

John Dickerson, CPMLee Ehlers, CCIM

Brian FarrellSteve Farrell, CCIM, SIOREmber Grummons, CCIM

John Heine, CCIM, JDJerry Heinrichs, CCIM

Jerry Huber, CCIMTim Kerrigan, CCIM

Brian KuehlMike Moylan, CCIM

RJ Neary, CCIM, SIORJ.P. Raynor, JD

Patrick S. ReganMike Rensch

Clint SeemannKevin J. Stratman

Ryan Zabrowski, CCIM, SIOR

PropertyManagement

Carla Chin, CPMBev Ellis, CPM

Laura Hansen, NALP, CAMCorreen Harrell

Nicole MorrisonJeni Sadler, CPM

Jeanette Weber, CPMSydney Weller

Debbie Wojcinski

New home building activity for the past year has increased and appears to be poised to continue. Year-to-date, Douglas and Sarpy county totals are up 28 percent from last year at this time. The Sarpy County new home construction rate is up 42 percent and Douglas County’s rate is up 18 percent over last year.

Building activity is fairly concentrated for the top ten builders; they have pulled 58 percent of all the new permits. Subdivision activity is a little less concentrated, with the top ten subdivisions pulling just 25 percent of the new permits.

With this increased activity, there is a significant need for lots to build on. A study conducted by MarketGraphics of Nebraska for the Omaha and Lincoln markets in April showed a projected need for more than 25,000 new lots between 2013 and 2018. Since 2008, the lot count for these markets has dropped by over 9,000 lots.

Currently there are around 14,000 lots ready for building. Douglas County alone should need more than 10,000 new lots during this time period. Developers are starting to respond to the task for getting more lots on the ground, but it takes more than a year to go through the process and install the needed infrastructure. Because there has been little development activity in recent years, the number of available infrastructure contractors has diminished, adding to the time it takes to make lots “building ready”.

Right now we have a developers’ market with builders scrambling to get new lots in the best areas ready. It will take a few years for supply to catch up with the demand, but the market will level out eventually. The main issue will be having lots at various price points ready for homes, especially lower-end priced lots. Ground prices and other development costs are rising rapidly because of the tremendous need.

NEW HOME BUILDING ACTIVITY CONTINUES STRONG PACEBY TIM UNDERWOOD | PRESIDENT, MARKETGRAPHICS OF NEBRASKA

DIGESTCOMMERCIAL REAL ESTATE

PAGE 2OUTLOOK FOR

CONSTRUCTIONIMPROVESFOR 2014

THREE OMAHA CONTRACTORS REPORT

ON OMAHA MARKET CONDITIONS

PAGE 3

RISE OF THE MILLENNIALS

NO, IT’S NOT A NEW JAMES CAMERON FILM!

INVESTOR’S JOHN HEINE, CCIM, JD, OUTLINES THE

SUCCESSORS TO THE BABY BOOMERS AND

HOW THEY WILL AFFECT THE EMERGING HOUSING

MARKET

commercial real estate

DIGESTdecember 2013 402-330-8000

Contractors are seeing an increase in business, but that means some increases in costs and potential delays as subcontractors and suppliers readjust to increases in demands.

Investors Realty interviewed three Omaha contractors to find out how the industry is doing now and what they see for the future. They tell us there is more work now than in the previous few years.

DELAYS: INTERMITTENT

According to Mike Hall of Hallmarq Construction a number of subcontractors downsized their crews during the recession and struggled to keep busy. Now that building is picking up in both the residential and commercial markets, they are busy and trying to keep pace with fewer people.

“We’re seeing some minor delays, but nothing significant,” he said. “Projects may be delayed a day or two.”

Hall feels the Nebraska Crossing retail project and a few others have contributed to some of the tightness in scheduling this fall as those projects attempt to wind up in the next couple months. The shortage of subs should ease up after the first of 2014, he thinks.

Alan Walker and Jay Matz of Darland Construction say they have more work now than in the last few years. Some trades are busy with new jobs and are trying to get outdoor work completed before the weather worsens. They think the seasonal pressure will probably subside once we get into mid winter.

Some trades are experiencing more delays than others, according to Robert Krause of KSI Construction. He says the structural trades like ironworkers and bricklayers don’t seem to have a lot of deadline pressures right now. Drywall

installers, painters and electricians are very busy but delays are minimal.

COSTS: GOING UP

With the increase in activity often comes an increase in costs. That’s what the three contractors are noticing to varying degrees.

Krause expects to see moderate increases in costs in 2014. He has received notice from a subcontractor that drywall prices will increase 20 percent. Other supplies such as metal studs, ceiling grid and ceiling tiles will increase between 5 and 10 percent.

He also thinks some subcontractors cut prices during the recession and are now raising them to increase profits.

Walker and Matz think prices have come back to pre-recession levels. There maybe several reasons. One is that margins on projects are starting to increase. Another reason is housing construction is increasing. Contractors who left residential work during the recession are going back to it and giving less competition to commercial builders.

Pencil sharpening when bidding during the recession led to lower and in some cases no profits for contractors, Hall thinks. Many cut profits just to stay in business, but now that activity is back up, they are raising prices.

Suppliers haven’t increased production yet, so there may be some price increases in the future, but Hall says he hasn’t seen them. He indicated housing construction costs have increased nearly 20 percent over the past three years, in part due to material costs and in part to increasing labor and profit margins.

Moderate price increases and some construction delays may occur in 2014, but overall the outlook for the construction industry is cautiously optimistic.

OUTLOOK FORCONSTRUCTION

IMPROVESFOR 2014

In September’s edition of Commercial Real Estate Digest, we discussed the overall conditions of the office, retail and industrial markets. To sum up, Omaha’s commercial real estate fundamentals are recovering from the great recession, but by no means is the growth robust. We are doing better than the national average in terms of vacancy rates and absorption, but rent growth is tepid and new construction still lags pre-recession levels.

A current bright spot is the multifamily sector, especially in the core of the city. Citywide, apartment occupancy is above 96 percent, according to IREM (Institute of Real Estate

Management), and rents have increased significantly over 2008.

Some of this success is the result of more stringent underwriting criteria for homebuyers. According to the U.S. Census Bureau, the nationwide home ownership rate is back to 65 percent from a peak above 69

percent in 2005. In addition, we saw a lack of multifamily permits from 2009 through 2011, averaging only 677 per year. The trailing 15-year average for the metropolitan area is more than 1,300 units per year.

Lack of recent construction and the absence of a lenient home-loan approval process have helped the multifamily sector, although the largest catalyst for the sector and the economy may be a shift in demographics. Similar to the baby boomers, who drove the economy in the 1980s and 1990s, the millennials, people born between 1980 and 1999, will have a significant impact over our nation’s spending habits for years to come.

In the U.S. today, there are 86 million millennials. That’s seven percent more than the baby boomer generation. Javelin Strategy and Research predicts by 2015, annual spending by millennials is expected to be $2.45 trillion and by 2018, they will eclipse boomers in spending power at $3.39 trillion.

As the unemployment rate for the millennials continues to decrease, more young adults will pack their bags and move out of their parents’ homes and into apartments. We already see this in the downtown multifamily market. In 2013, 400 units came on-line. Another 625 are under construction and 700 to 1,000 are in the planning phase.

GENERATION BIRTH YEARS SIZE (MIL) PERCENTAGE

Silent Generation 1925-1945 35.2 11% Baby Boomers 1946-1964 80.3 25% Generation X 1965-1979 40.9 13% Millennials, Gen Y, Echo Boomers 1980-1999 86.0 27% *2010 Census

RISE OF THEMILLENNIALS

BY JOHN HEINE CCIM, JD

BY 2018, MILLENNIALS WILL ECLIPSE BOOMERS

IN SPENDING POWER AT $3.39 TRILLION



NEW PROPERTIES JOIN INVESTORS’

PORTFOLIO

Investors Realty added two new properties to its portfolio in November 2013. We are pleased to serve the tenants and owners of The Shoppes at Daniell Crossing in Bellevue and Wick’s Southpointe Shopping Center in Gretna.

The Shoppes at Daniell Crossing, at the northeast corner of 36th Street & Highway 370, is a 28,836-square-foot strip center built in 2006. Current tenants include Beijing Tokyo, Ferguson Plumbing Supplies, Snap Fitness, Texture Salon, Bargen Sports, Bel’ Angelo Boutique, Ever-Bloom Florist, Kidz In Motion Dance, and The Asthma and Allergy Clinic.

Wick’s Southpointe is a new retail center adjacent to Walmart and Holiday Inn Express. The center has seven bays and freestanding space with Arby’s as a tenant. We look forward to filling the new center with tenants to serve the growing Gretna population and traffic along I-80.

THE SHOPPES AT DANIELL CROSSING

WICK’S SOUTHPOINTE SHOPPING CENTER



WE’VE REMODELED. REALLY AND VIRTUALLY

After 27 years, Investors Realty’s space received a facelift. Over the past two months, Investors redecorated and remodeled our conference rooms, workroom areas, kitchen, restrooms, reception area, and even the sign!

The contemporary yet warm look reflects the firm’s brand of keeping the traditional but staying in touch with the new. The image and functionality help both staff and clients feel welcome and comfortable. The walls now feature artwork by Vince Hron, a Creighton Prep graduate, and Ellen Sweeney from Kansas City.

Since we were on a remodeling kick, we decided to give our website investorsomaha.com a

new look as well! The update will enhance the responsiveness of the site, as well as including full mobile device functionality.

You’ll be able to search more easily for property, contact our staff and read timely posts about Investors Realty events and services. We’ll also be posting information about what’s happening around Omaha and in the commercial real estate industry.

Thank you to our clients for being patient while we were under construction. We invite you to stop by our real and virtual offices soon to see us and our new look!

land

WHAT WE’VE DONE LATELY17.1 acres of residential development land at 186th & Pacific Street, to William J. Douglas3.7 acres of industrial land at 108th & Chandler Road, to Torco Enterprises1.4 acres of commercial land at Hwy. 50 & Platteview Road, to Tipton Holdings, LLC0.5 acres of commercial land at 16th & Jackson Street, to Douglas County Nebraska0.5 acres of commercial land at I-80 & Madison Avenue, Council Bluffs, to Kum & Go, LLC

85,563 sq. ft. of office space at 45th & Maass Road, to Lockheed Martin Corporation39,000 sq. ft. of office space at 127th & I Street, to Kiewit Corporation38,726 sq. ft. industrial building at 14th & Old Cheney Road, Lincoln, to Neary Cooper Partnership LLP32,000 sq. ft. of industrial space at I-80 & Hwy. 50, to Temperatsure, Inc.31,753 sq. ft. of industrial space at 125th & I Street, to Ford Moving & Storage Company25,932 sq. ft. commercial building at 48th & Hamilton Street, to Waypoint Church20,820 sq. ft. of industrial space at 3rd & Locust Street, Springfield, to Heartland Proteins LLC16,800 sq. ft. apartment building at 31st & Dodge Street, to Harvest Development LLC14,720 sq. ft. office building at 171st & Lakeside Hills Plaza, to DPB Enterprises, LLC13,986 sq. ft. office building at 140th & West Center Road, to Investment Partnership10,514 sq. ft. of office space at 120th & Blondo Street, to Ellie Mae, Inc.10,460 sq. ft. of commercial space at 16th & P Street, to Ploughshare Brewing Co. LLC10,170 sq. ft. of office space at 168th & Pacific Street, to Financial Brokerage, Inc.10,000 sq. ft. of flex space at 149th & Grover Street, to K-Designers8,000 sq. ft. of commercial space at 180th & Q Street , to DJ’s Dugout6,100 sq. ft. of commercial space at 108th & Giles Road, to Encartele, Inc.6,000 sq. ft. of industrial space at 36th & D Street, to Lifespan Recycling Co., Inc.6,000 sq. ft. of office space at 94th & F Street, to Special Olympics Nebraska, Inc.5,760 sq. ft. of industrial space at 135th & Centennial Road, to Ambrose Packaging4,784 sq. ft. of office space at 114th & Blondo Street, to AT&T Corp.4,440 sq. ft. of commercial space at Hwy. 6/31 & Schram Road, to Miller Transformation Group4,072 sq. ft. of commercial space at 144nd & West Center Road, to Aline Bae Tanning, Inc.3,866 sq. ft. of industrial space at 121st & Centennial Road, to Honeywell International, Inc.3,508 sq. ft. of commercial space at 180th & Q Street , to Nebraska Lower Extremity Group LLC3,365 sq. ft. of office space at 169th & West Center Road, to Enerfo USA, Inc.3,362 sq. ft. of office space at 204th & West Dodge Road, to ROB-SEE-CO LLC3,200 sq. ft. of commercial space at 84th & F Street, to TC’s Strength & Conditioning, LLC3,175 sq. ft. of industrial space at 156th & West Center Road, to FFI LLC3,000 sq. ft. of office space at 77th & Park Drive, to Energy Pioneer Solutions, Inc.2,688 sq. ft. of office space at 15th & Jones Street, to Encompass Corporation2,540 sq. ft. of industrial space at 87th & F Street, to Oak Creek Pharmacy LLC2,510 sq. ft. of office space at 108th & Giles Road, to Strobel Starostka Construction LLC2,250 sq. ft. of industrial space at 140th & I Street, to Mardic, Inc.2,250 sq. ft. of industrial space at 140th & I Street, to Peyton’s Carpet Creations2,150 sq. ft. of industrial space at 118th & Harrison, to Tradesmen International, Inc.2,000 sq. ft. of industrial space at 138th & C Street, to Heartland Cats1,765 sq. ft. of commercial space at 91st & Bedford Ave., to National Marketing Classifieds LLC1,663 sq. ft. commercial building at 84th & East Lincoln Road, to Dingman Investments, LLC1,535 sq. ft. of commercial space at 84th & Hwy. 370, to Hance, Inc. dba Sport Clips1,500 sq. ft. of commercial space at I-29 & South Expressway, Council Bluffs, to Complete Nutrition LLC1,303 sq. ft. of commercial space at 180th & West Center Road, to AKH LLC1,200 sq. ft. of commercial space at 90th & Fort Street, to Khadidjatou Lligali-Ali & Taofic Onifade1,125 sq. ft. of office space at 120th & L Street, to AJ Counseling Services1,040 sq. ft. of office space at 114th & Wright Street, to Defender Direct PR1,000 sq. ft. of industrial space at 11th & Nicholas Street, to Gem Real Estate, LLC1,000 sq. ft. of office space at 84th & Cedardale Road, to Nutrient Agri Products

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december 2013

NORDICICE MAKEREXPANDSOMAHAOPERATIONS

Temperatsure, Inc. is one of the more unique manufacturing operations currently in Omaha. The company makes Nordic Ice reusable gel packs. These packs help distributors in the United States and Canada ship temperature-sensitive products, such as medicine, vaccines, meats, and frozen foods.

Based in Reno, Nev., Temperatsure has manufacturing facilities in Reno, Philadelphia, Orlando and Louisville.

This year, Kevin Stratman and Tim Kerrigan, CCIM, helped Temperatsure nearly double the size of their Omaha operations. Previously located in an older, 18,000-square-foot facility for more than 10 years, the company needed a larger facility to increase its size and prominence in Omaha. In addition to needing a larger, more modern facility, they also needed a building with access to specific power and water supplies, and easy access to Interstate 80.

Investors helped Temperatsure secure the 32,000-square-foot structure on 144th Street, just south of Sapp Brothers. The building was the former Hostess/Wonder Bread distribution center for the Omaha area, built in 1996. Temperatsure hopes to have the new facility fully operational by early 2014. The larger space will allow them to expand both their production and employee base in Omaha.

KEVIN

STR

ATM

AN

TIM

KER

RIG

AN

, CCIM

Hearings have and are being held on numerous issues to be considered by the Unicameral next year. The 2014 session is the second year of the two-year session, and just 60 days long.

These are the key issues that are part of a carryover bill or may be raised in new bills that concern the commercial/investment real estate industry:

TAXES Taxes, a major issue raised by Governor Heinemann last session, will get more debate. The main objective of the Governor is to replace income taxes with sales taxes. Adding sales taxes on services (mowing, cleaning, construction, etc.) will be part of the discussion. The Revenue Committee held hearings on tax changes in several cities. I attended the one in Omaha and testified to point out the effect on properties, whether the cost is passed on to tenants directly or indirectly.

TAX INCENTIVE BILLS Tax incentive bills to promote renovation of historic business districts will be considered. LR29CA (constitutional amendment) would change the language in the current law from “blighted and substandard” to “in need of rehabilitation or redevelopment.” This bill would also extend the current 15-year maximum credit

period to 20 years. This bill has been moved out of committee to General File, and should be debated in 2014.

MODIFICATION OF THE LANDLORD TENANT ACT The Legislature will consider a bill introduced by Senator Lautenbaugh for the Nebraska Association of Commercial Property Owners (NACPO) to modify the Landlord Tenant Act. The bill would allow a landlord to evict a tenant who is causing a clear and present danger to the health and safety of other tenants and the owner or his agent, manager and employees.

Other issues that may be actively discussed are:• insurance proceeds holdbacks by a city

government for severely damaged properties; • city inspection fees for apartments;• changes to boiler and elevator inspection

requirements;• radon requirements;• increased penalties for building code violations,

and construction prompt-pay requirements.

For questions and comments about legislative issues, please contact John Dickerson at 402.778.7521. John is the current president of NACPO.

UNICAMERAL CONSIDERS

REAL ESTATE-RELATED ISSUES

BY JOHN H. DICKERSON, CPM

OPEN SPACE OFFICES BY THE

NUMBERS

According to an article in the November/December issue of Realtor magazine, a 2013 survey by CoreNet Global found 81 percent of corporations have adopted an open-plan office. Such space features wall-less workstations, collaborative conference areas, recreation areas and food services.

Research by commercial real estate company Cassidy Turley, shows the average space per worker has dropped from 225 square feet in 2010 to 213 square feet today, but probably won’t drop below 150 square feet per worker.

Higher occupancy means buildings will need five to six parking stalls per 1,000 square feet as opposed to three or four. Building owners may need to offset the need for additional parking by offering preferential treatment for carpooling, incentives to use public transportation, offsite parking or valet services.

HVAC systems, restrooms, elevators and stairwells may be impacted as occupancies grow. Landlords of older buildings may need to upgrade systems and facilities to accommodate these new trends. Buildings with higher ceilings and good natural light to core areas provide more attractive opportunities for retrofit to tomorrow’s office environments.



for more:

SEE OUR COMPANIONARTICLE, BENCHING?

HUDDLE ROOMS? WHAT’S IN THE FUTURE FOR OFFICES? FOR MORE

OFFICE TRENDS ON THE HORIZON

I attended a session at the Fall 2013 SIOR (Society of Industrial and Office Realtors) World Conference to learn how corporate America is looking at office space today and for the future. The panel of three corporate real estate executives was sure about what is happening now and not so sure about what will happen in the future.

THEY ARE SURE… … that employers want to provide less space per employee, BUT they want space that will attract employees to their company. Because there are two retirees for every person entering the workforce, attracting the best employees will be paramount. Facility planners want flexible space, because they don’t know what the future workplace will look like or how employees will work. They want help with place making and place-strategy. Companies want a bigger menu with more choices. They want their offices to help create and be a part of their brand.

Much of corporate America looks at office rent in terms of cost per employee. Landlords and brokers look at rent as per square foot income or expense. Brokers and landlords may be better served if they look at rent from their prospect’s perspective. Corporate real estate executives want and need brokers to understand finance, LEED (Leadership in Energy and Environmental Design), technology and human resources as they search for properties for tomorrow’s companies.

Human resource requirements must be taken into consideration when making real estate decisions for today. While some people predicted the Internet would make it possible for many to work from home, companies have discovered distance

interferes with a development of the company culture and an environment for collaboration.

People have moved away from large personal office spaces to open and collaborative environments. The cubicle is giving way to benches and open lines of sight. More recently, there has been an attempt to strike a balance between the need for collaboration and the need for employees to perform focused work.

Tenants require strong technology infrastructures to support the new environments, and they expect the landlord to provide them.

WHAT DOES THE FUTURE OFFICE LOOK LIKE? It’s true people work differently today; the question is how will they work in the future? No one knows for sure.

The panel predicted the office market recovery might be slower than it has been in previous cycles because of the compression of office space per user. As one panel member explained, there are 10 million square feet in the downtown Chicago office market. If all users became 10 percent more efficient in using space, 1 million square feet would be added to the market.

Landlords should expect tenants to be reluctant to compromise on the design of their space and they should expect them to ask for considerable upgrades. It is important for landlords to be aware of and monitor the underlying trends in tenant demand.

The question to be answered is: Will the “open space pendulum” swing too far? No one knows the answer, but change is bound to come.

BENCHING? HUDDLE ROOMS?

WHAT’S IN THE FUTURE FOR

OFFICES?

BY RJ NEARY, CCIM, SIOR

BENCHING, ACCORDING TO THE IDAHO BUSINESS REVIEW, “IS A STYLE

OF FURNITURE DESIGNED TO GIVE A UNIFIED APPEARANCE THAT COMBINES

FUNCTION AND FLEXIBILITY.”

THE OFFICIAL DEFINITION OF A HUDDLE ROOM IS A SPACE WHERE

EMPLOYEES WHO WORK IN OPEN WORKSTATIONS MAY GO FOR

BRIEF MEETINGS, ACCORDING TO HUDDLEROOM.COM.

PHYSICALLY, A HUDDLE ROOM IS A SMALL CONFERENCE ROOM THAT IS A HUB FOR COLLABORATING, THINKING, PRESENTING, AND PROBLEM-SOLVING.

for more:

SEE OUR COMPANIONARTICLE, OPEN SPACE

BY THE NUMBERS FOR MORE OFFICE TRENDS ON

THE HORIZON



december 2013


402-330-8000NEW LISTINGSTO SEE OUR COMPLETE INVENTORY OF

PROPERTIES, VISIT INVESTORSOMAHA.COM

90TH & F STREET3,769 sq. ft. of highly visible industrial space, 100% climate controlled. Ease of parking at the door, street access, and drive-in doors possible.

SPRING RIDGE PLAZA I & II180th & Pacific Street 3,906-11,208 sq. ft. of space available in this retail center in a solid demographic area with high median and disposable household incomes. Features easy access in and out of the center, across from the new Hy-Vee in Elkhorn.

DANIELL CROSSING36th & Hwy. 37012,344 sq. ft. of office space in this well-maintained building near Offutt Air Force Base. Three hotels, four medical facilities and all amenities nearby.

24TH & MASON STREET7,520 sq. ft. industrial building built in 2009, has never been occupied. Offers great access to I-480, 16-foot ceilings, sprinklers, and one drive-in door.

WICK’S SOUTHPOINTEI-80 & Hwy. 370Multiple lots from one to 30 acres surrounding Gretna’s Walmart center. Features high traffic count, and interstate visibility in the fastest growing county in Nebraska.

18TH & MARY’S AVEUniquely situated 2,263 sq. ft. freestanding commercial building with several uses possible. Highly visible spot in a Downtown area ripe for redevelopment!

KEYSTONE LANDING90th & Boyd Street9,711 sq. ft. commercial space with an upscale look includes a covered dock and abundant parking. Located along busy 90th Street and just minutes from I-680.

WICK’S SOUTHPOINTEI-80 & Hwy 370New retail space with exceptional interstate visibility and shadow anchor by Walmart. Offers 7,575 sq. ft. of space.

87TH & FREDERICK STREETGreat owner/user office opportunity in Central Omaha, near the interstate and all amenities. 1,750 sq. ft. space is highly insulated, has updated HVAC, and is CAT 5 wired!

86TH & GILES ROADNorthwest Corner2.5 acres of infill land surrounded by a dense, stable, growing residential population and many retail generators within five miles. 84th Street corridor carries heavy traffic and is ripe for renewal.

THE WIRE 19th & Dodge Street3,575 sq. ft. of prime, street retail space in Downtown Omaha with great exposure to Dodge Street traffic in a redevelopment project which includes 300 apartment units.

CATTAIL CREEK PHASE II192nd & Q Street 11,539 sq. ft. of retail space with economical lease prices in southwest Omaha surrounded by a solid demographic mix of young families and high income housing developments that create a good mix of patrons for a variety of businesses.

DESTINY TWO142nd & Cornhusker RoadNew construction industrial space with 26-foot ceilings, two dock doors, and I-80 signage.

SHERWOOD DRIVE & HWY. 6, COUNCIL BLUFFSNorthwest Corner1.17 acres of commercial land at a lighted intersection with great visibility. Good trade area and a great opportunity for professional/retail uses.

115TH & DAVENPORT STREETRecently updated, this 17,200 sq. ft. commercial building offers office space with a sharp showroom! Easy, quick access to West Dodge and I-680.

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december 2013


402-330-8000NEW LISTINGS

STATE LINE POINTE SHOPPING CENTERKansas City, MO163,000 sq. ft. well-maintained shopping center anchored by Gordman’s is an ideal value opportunity!

FORSALE

CANFIELD PLAZA84th & West Center Rd.4,930 sq. ft. retail space with special rates through January 2014 in a well-maintained, high traffic center with a great central Omaha location!

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SCAN WITH YOUR MOBILE PHONE TO VIEW OUR LOOPNET PROPERTY SEARCH ENGINE.

STONEGATE CENTER BUILDING #3118th & Stonegate CircleNice industrial flex space is 6,270 sq. ft. with air conditioning, ramp, dock and drive-in doors. Offers 24-foot ceilings in a clean, well-maintained professional park.

114TH & P STREETClean warehouse space with 12,100 sq. ft. includes an office build-out, floor drains, wash area, T-8 lighting, dock and drive-in doors.

15TH & LEAVENWORTH STREET4,900 sq. ft. of unique office space, perfect for any professional or start-up. Parking on-site, just a walk away from the Old Market—a must see!

ADVANCE AUTO PARTS27th & West Broadway, Council Bluffs Investment opportunity with a strong national tenant in place.

WEST CENTER POINTE 147th & West Center Rd.Up to 16,296 sq. ft. available in this updated office building in West Omaha featuring unique architecture, and 360-degree views with large windows. Building signage is available, with an entire floor move-in ready!

ELDORADO PLAZA145th & California StreetAttractive 6,840 sq. ft. office space with an upscale interior and easy access for clients.

LARSEN BUILDING144th & I-80Upgraded finishes in this 2,900 sq. ft. office space with generous parking. Only 30 seconds to I-80 with easy access to Lincoln.

FLORENTINE APARTMENTS80th & Benson Gardens Blvd.Investment opportunity: 174-unit apartment complex with consistently high occupancy and high cap rate.

LEGACY PLACE172nd & Wright Street5,000 sq. ft. office space with in-place improvements including private offices, open space, and access to private patio.

RENAISSANCE MANSION 39th & Farnam StreetBusiness and real estate for sale includes 5,731 sq. ft. with a full-service rental facility for 225-plus. Featuring an outside courtyard and well-kept interior with beautiful, historic finishes. Great midtown location!

36TH & HARRISON STREETInvestment opportunity: 24 apartment units in two buildings include large spaces, laundry on-site, many amenities in the area and is near Bellevue University and public schools.

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FLORENTINE APARTMENTS80th & Benson Gardens Blvd.Investment opportunity: 174-unit apartment complex with consistently high occupancy and high cap rate.

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