PROPERTY

Size	25 Acres
Year Built	2021
Property Type	Industrial
Location	25050 US Hwy 275

RESULT

Sale Date of Land	September 18, 2020
Sale Date of Formerly Owned Property	December 1, 2020

CHALLENGES

• Located land to develop for a growing company needing industrial zoning
• Prospecting done in an industrial market with limited affordable supply
• Funded by a reverse exchange on two buildings and two vacant lots formerly used by developer
• Closing of former used property and lease back to continue operations during construction
• New property included a 14 AC fenced in storage area
• Finding 20 AC for industrial use with sewer

 

MAJOR POINTS

• After three different offers made, Jerry and his client signed a purchase agreement three years after starting to look for land
• Reverse 1031 exchange successfully completed as suggested by Jerry Heinrichs
• Sale allowed Jerry’s client two buildings: a 24,000 and 4,800 SF industrial buildings suited to his needs
• Property needed to be rezoned by the city of Valley
• Jerry’s client was able to move with only two weeks of production lost

Jerry Heinrichs, CCIM 402.778.7551 jheinrichs@investorsomaha.com