Seldin Company Completes $5.9M Real Estate Transaction in Omaha

Sale of 70,000 SF. Building and 8 Acres of Land to Goodwill Industries

OMAHA, NB.--(BUSINESS WIRE)--Randy Lenhoff,  (top right photo) President and CEO of Seldin Company, announced the sale of a 70,000 square foot building located in Omaha, Nebraska to Goodwill Industries, Inc.

This brand new facility will serve as the new headquarters for Goodwill Industries serving Eastern Nebraska and Southwest Iowa. In addition, this building will include a 25,000 sq. ft retail store and additional space to be utilized for educational programs.

The purchase price was $5,900,000. In addition, the Seldin family donated 352,000 sq. ft. (8.03 acres) of fully improved infrastructure and paved parking area serving the new building, which is valued at $1,850,000.

Ted Seldin  (middle left photo) stated, “My partners, Millard Seldin, Stanley Silverman and our families are pleased and proud to provide this donation to Goodwill to further its amazing record of service to the underprivileged and handicapped as well as providing quality clothing and household items at affordable prices throughout the Omaha metro area.

"Our family hopes that our contribution will provide a catalyst and help the Goodwill capital campaign.”

Randy Lenhoff, Seldin Company President and CEO stated, “We are pleased to welcome Goodwill Industries to Benson Park Plaza, which when fully built will have added over 250,000 sq. ft. of new commercial space and over 500 new jobs in North Central Omaha.”

The Benson Park Plaza is a dynamic example of cooperation between the public and private sector to remove urban blight and create economic development for a metropolitan area.

The area originally received a “blighted” designation by the Omaha Planning Department in 1998.

The property has subsequently been redeveloped by the Seldin Company in cooperation with the City of Omaha and is now a thriving retail shopping center

 In addition to Goodwill Industries, current tenants of Benson Park Plaza include Baker Supermarket, Home Depot, Hancock Fabrics, Blockbuster Video, Famous Dave’s Barbeque, International House of Pancakes (IHOP), McDonald’s, Arby’s, PepperJax Grill, Sonic, and Subway.

Randy Lenhoff stated, “In 1999, at the start of re-development, the assessed value of the 40 acres of land and buildings on the land now comprising Benson Park Plaza was only $2,500,000, generating only $53,000 per year in real estate taxes.

When Benson Park Plaza is completed, the assessed value will be over $25,000,000, providing an increase of over $500,000 per year in new real estate taxes.”

Contacts: 
Seldin Company, Randall R. Lenhoff, 402-333-7373, President/Chief Executive Officer,  randyl@seldin.com