 |
| 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.
%20Drew.jpg)
