Prepared by: Alex Epstein Executive Vice President 402 850 8898 aepstein@ Matt Edney Executive Vice President 402 305 7886 medney@ Grace Pavlik Associate 402 980 0111 gpavlik@ 13340 California Street, Ste 100 Omaha, NE 68154 402 697 8899
INVESTMENT SUMMARY 1 is pleased to offer the opportunity to purchase the southeast corner of 120th and Center Streets. Value-add opportunity to purchase land and buildings with current leases in place, or for redevelopment. Existing zoning allows for the following uses: retail, office, healthcare and multi-family residential. Property & Location Overview Centrally located within the highly traveled West Center Road corridor at the intersection of 120th & West Center Road in Omaha Nebraska. This site features a total of 5.27 acres of land. Currently on site there are office and retail buildings. This is a rarely available, highly sought after location, perfect for infill development. The property s location provides convenient access to Interstate 680 and West Center Road. This intersection sees over 40,000 cars per day and this area is surrounded by existing residential, multi-family, retail and office buildings. The property sits in the Southwest sub market which absorbed 331,000 square feet of retail space in 2017; the most of any sub market. RARELY Available 13340 California Street, Suite 100, Omaha, NE 68154
OMAHA OVERVIEW 2 Omaha Overview Today, Omaha is the largest city in the state of Nebraska and is the city anchor of the Omaha-Council Bluffs metropolitan statistical area (MSA), which includes Council Bluffs, Iowa, located just across the Missouri River. Home to over 925,000 residents, the Omaha MSA has become one of the most dynamic areas in the Central U.S. and benefits from the strong presence of agricultural, financial, transportation, technology and healthcare industries. Omaha s unemployment has historically been one of the lowest in the country. It s current unemployment sits at 2.7% - a 20 year low. As a result of its central location and home of Union Pacific, Omaha is a major domestic cargo hub offering easy access to the country s transportation network. Home to four Fortune 500 companies, in addition to five Fortune 1,000 companies, Omaha has established itself as a national leader in the industries of banking, insurance, telecommunications, information systems and transportation. The presence of Fortune 500 companies including Berkshire Hathaway, as well as its CEO, one of the world s wealthiest individuals, Warren Buffett; Union Pacific Railroad; Peter Kiewit Sons Inc; and Mutual of Omaha have positioned Omaha as one of the most dynamic and diversified economies in the country. Demographics 1 mile radius 3 mile radius 5 mile radius 2017 Estimated Total Housing Units 2017 Estimated Population 2017 Estimated Households 2017 Estimated Average Household Income 2017 Estimated Total Employees 2017 Estimated Total Businesses 5,183 34,364 108,069 11,472 76,602 250,474 5,047 33,408 105,267 $87,681 $97,948 $94,396 8,735 107,003 220,414 1,007 7,356 15,534 13340 California Street, Suite 100, Omaha, NE 68154
SITE 3 FEATURES Westwood Professional Center North Lot Westwood East South Lot North Lot Acres: 2.66 Land SF: 116,806 Existing Building SF: 13,730 Zoning: General Office (GO) The majority of the leases of the professional offices are either MTM or contain landlord right to terminate. South Lot Acres: 2.61 Land SF: 114,723 Existing Building SF: 19,975 Zoning: CC, GO, R6 The majority of existing retail and office leases are either MTM or contain Landlord right to terminate.
PROPERTY AERIAL 4 Westwood Professional Center North Lot Westwood East South Lot West Center Road Westwood Plaza 120th Street 120th Street Westwood Professional Center Westwood East West Center Road 13340 California Street, Suite 100, Omaha, NE 68154
DETAILED SITE FEATURES 5 IV A B III G F II H D C E A Krispy Kreme (off market) North Lot Total AC: 2.66 Total Land SF: 116,806 South Lot Total AC: 2.61 Total Land SF: 114,723 B Westwood Professional Pro IV 11912 Elm Bldg SF: 8,000 Pro III 11902 Elm Bldg SF: 6,323 C Existing Rental Home Bldg SF: 1,196 Land SF: 9,324 D Land SF: 17,722 Zoning: GO F Pro I 11929 Elm Bldg SF: 3,722 G Winchells - 2905 S. 120th St. Bldg SF: 1,308 Land SF: 11,336 Pro II 11836 Elm Bldg SF: 1,920 E Land SF: 20,000 Zoning: R6 H Westwood East - 2909-2943 S. 120th St. Bldg SF: 14,800 Land SF: 37,950
SAMPLE RENDERINGS 6 Option 1 These renderings are to be used for illustrative purposes only. Neither nor ownership make any representations regarding the suitability of the site or the ability of the Buyer to obtain the approvals necessary to complete a development on the site in accordance with these renderings or at all. The Buyer should be prepared to complete its own due diligence as to the site and the ability to complete a development on the site.
RENDERING 7 Option 2 These renderings are to be used for illustrative purposes only. Neither nor ownership make any representations regarding the suitability of the site or the ability of the Buyer to obtain the approvals necessary to complete a development on the site in accordance with these renderings or at all. The Buyer should be prepared to complete its own due diligence as to the site and the ability to complete a development on the site.
RENDERING 8 Option 3 These renderings are to be used for illustrative purposes only. Neither nor ownership make any representations regarding the suitability of the site or the ability of the Buyer to obtain the approvals necessary to complete a development on the site in accordance with these renderings or at all. The Buyer should be prepared to complete its own due diligence as to the site and the ability to complete a development on the site.
RENDERING 9 Option 4 These renderings are to be used for illustrative purposes only. Neither nor ownership make any representations regarding the suitability of the site or the ability of the Buyer to obtain the approvals necessary to complete a development on the site in accordance with these renderings or at all. The Buyer should be prepared to complete its own due diligence as to the site and the ability to complete a development on the site.
RENDERING 10 Option 5 These renderings are to be used for illustrative purposes only. Neither nor ownership make any representations regarding the suitability of the site or the ability of the Buyer to obtain the approvals necessary to complete a development on the site in accordance with these renderings or at all. The Buyer should be prepared to complete its own due diligence as to the site and the ability to complete a development on the site.
RENDERING 11 Option 6 These renderings are to be used for illustrative purposes only. Neither nor ownership make any representations regarding the suitability of the site or the ability of the Buyer to obtain the approvals necessary to complete a development on the site in accordance with these renderings or at all. The Buyer should be prepared to complete its own due diligence as to the site and the ability to complete a development on the site.
Contact us: Alex Epstein Executive Vice President 402 850 8898 aepstein@ Matt Edney Executive Vice President 402 305 7886 medney@ Grace Pavlik Associate 402 980 0111 gpavlik@ 13340 California Street, Ste 100 Omaha, NE 68154 402 697 8899