Monday, April 11, 2022

JLL Capital Markets closes $34 million sale of One Pacific Place housing prime location of Trader Joe's in Omaha, NE

 

Amy Sands

CHICAGO, IL, April 11, 2022 JLL Capital Markets announced today that it has closed the $34 million sale of One Pacific Place, a 90,945-square-foot retail center anchored by a high-performing Trader Joe’s in Omaha, Nebraska.

 JLL marketed the property on behalf of the seller, a joint venture between RED Development and BIG Shopping Centers. Midwest-based Lund Company Investments, Inc. acquired the asset.

Clinton Mitchell 
The JLL Retail Capital Markets team representing the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder and Senior Managing Director Chris Gerard.

 Located at 10381 Pacific St. in Omaha, One Pacific Place is home to the only Trader Joe’s within 55 miles, allowing the center’s trade area to encompass a population 24% larger than the 285,284 residents living within a five-mile radius.

This makes for a diversified customer base traveling across 70 ZIP codes to the center, which is in an established and affluent Omaha submarket.

Michael Nieder 
The 93.4-percent-leased One Pacific Place is also home to a synergistic mix of daily needs, restaurant, medical and traditional retail tenants.

They include Talbots, Chico’s, Wheatfield’s, Dentistry for Health, Five Salon, Hand & Stone Massage & Facial Spa, Bath and Body Works, , Eddie Bauer, , Club Champion, Power Life, Nothing Bundt Cake and Andre’s. Completed in 1989, the center was last renovated in 2010.

 JLL Research’s recently released Grocery Tracker 2022 report details how 2021 was a record year for grocery-anchored retail property transactions. Acquisition volume for the year was more than $13.3 billion, the second-highest level in recorded history.

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Chris Gerard
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

 About RED Development

For more than 25 years, RED Development has been an industry leading, wholly integrated commercial real estate company known for its high-performing mixed-use and retail portfolio. 

SOLD: One Pacific Place, 90,945 SF.
 
10381 Pacific Street. Omaha, NE

A preferred partner for best-in-class retailers and investors, RED is known nationally for its vibrant, well-trafficked ground-up developments along with its keen expertise for remerchandising and repositioning existing properties to improve profitability and appeal. 

Headquartered in Phoenix, the privately held company’s portfolio is comprised of distinctive destinations across the Southwest and Midwest. 

Trader Joe's at One Pacific Place, Omaha, NE

About BIG Shopping Centers USA, Inc.

BIG Shopping Centers USA, Inc. (BIG USA) is a subsidiary of the Israeli parent company BIG Shopping Centers, Ltd. (publicly traded in the Tel Aviv stock exchange, TASE: BIG). 

 BIG USA owns interests in 12 shopping centers across the United States, totaling 3.7 million square feet and 96% occupied, with an aggregate value of over $500 million (BIG USA’s share of ownership). Four centers are wholly owned by BIG and the remaining with partners.

 BIG USA is seeking to sell its remaining centers in the U.S., after successfully completing the sale of 13 shopping centers, valued at $1 billion, in the past nine months.

 

 CONTACT:


Kimberly Steele

PR, Capital Markets, Agency Leasing and Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

 REDdevelopment.com.

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