Investors Realty has brokered the sale of two shadow anchored shopping centers in Omaha, Fort Plaza and Weber Place, totaling over $7 million. Fort Plaza is located at the intersection of 90th and Fort Street and Weber Place is located at the intersection of 30th Street and Forest Lawn Avenue. A shadow anchored shopping center has a major retailer—or anchor store—located near the shopping center. This is appealing to smaller retailers and restaurants looking for space because the anchor store drives significant traffic to the area.
Tenants at the properties include First National Bank, Voodoo Taco, Dollar General, Citi Trends and the Douglas County Treasurer.
Ember Grummons, CCIM, represented the buyer of both properties, Baceline Investments, which is based in Denver. Erin Pogge and Lindsay Banks of The Lerner Company represented the Omaha-based seller of the two shopping centers, New Street Properties. This was an off-market transaction, meaning the properties were not openly marketed.
Earlier this year Ember put together another off-market shopping center sale, the $16.75 million sale of the Centro Plaza Shopping Center in Lincoln, to St. Louis-based Integris Ventures. Centro Plaza is a 115,495 square foot retail property located at the intersection of 48th and Vine Streets.
Centro Plaza is currently occupied by TJ Maxx. Michael’s, Designer Shoe Warehouse and Beauty Brands have executed leases and will occupy the 60,000 square foot space previously occupied by Best Buy. The buyer is in the midst of an extensive renovation of the property.
Retail space in this area of Lincoln is in high demand and the buyer is currently negotiating several new leases with national retail tenants.
This article appeared in our quarterly newsletter from September of 2015. The full newsletter is available at http://files.investorsomaha.com/download/online_newsletter_9-2015.pdf