Hanley Investment Group Arranges Sale of Grocery-Anchored Shopping Center for $17.2 Million in Omaha, Neb.

January 05 12:56 2023
Hanley Investment Group Arranges Sale of Grocery-Anchored Shopping Center for $17.2 Million in Omaha, Neb.
Institutional Quality Shopping Center Acquired by Private Investor Achieves Aggressive Sub-6% Cap Rate

OMAHA, Neb. – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of a 98.6%-occupied, 112,005-square-foot shopping center anchored by a high-volume Hy-Vee grocery store in Omaha, Nebraska. The sale price was $17.2 million. 

Hanley Investment Group’s Executive Vice Presidents Jeff Lefko and Bill Asher represented the seller, Woodsonia Real Estate, Inc. of Omaha. The buyer transacted all cash and was a family office based in Portland, Oregon.

“We generated tremendous interest and competitive offers from the private investment community for an institutional quality shopping center during a time in the market when institutional buyers had pressed pause on acquisitions for these types of grocery-anchored assets,” said Lefko.

Lefko added, “The buyer was attracted to Hy-Vee’s strong store sales, its long-term operating history at the center and the recent, substantial capital that Hy-Vee had invested into this particular location. The subject property also offered immediate stability for the buyer with long-term sustainability and future upside due to the below-market rent in the Hy-Vee lease.”

Lefko noted that Hanley Investment Group achieved an aggressive sub-6% cap rate for a stabilized grocery-anchored shopping center in the Midwest. 

Applewood Centre, which was built in 1989 on 12.81 acres, is located at 9707-9765 Q Street in Omaha. Hy-Vee has occupied space at the property since the shopping center was built and, over the last 10 years, has expanded and renovated its space by adding a drive-thru to their pharmacy, an interior Starbucks and Wahlburgers, and a full wine and spirits store. Additionally, in 2021, Hy-Vee renovated its gas station outparcel (not a part of the sale) to its new “Fast & Fresh” concept demonstrating its further commitment to the site.

According to Placer.ai data, the Hy-Vee at Applewood Centre ranks in the top 15% of all grocery stores tracked in the U.S.

Hy-Vee, Inc. is an employee-owned corporation operating more than 285 retail stores across eight Midwestern states with sales of $12 billion annually. Hy-Vee was voted “America’s Top 5 Most Trusted Grocery Retailers” by Newsweek in 2022 and the #2 “Best Supermarket in America” by USA Today in 2021.

Nearly 80% of the tenants are national or regional daily needs tenants, including Hy-Vee, Edward Jones, Great Clips, H&R Block, Papa John’s, Pet Supplies Plus and Sun Tan City.

Applewood Centre is located blocks away from Omaha’s largest concentration of distribution and manufacturing employers resulting in a significant daytime population of over 156,000 employees within a five-mile radius, noted Lefko.

Omaha is ranked in the top 10 for both per-capita billionaires and the concentration of Fortune 500 companies. Also, four Fortune 500 companies and five Fortune 1000 companies are headquartered in Omaha.

About Hanley Investment Group 

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over a $9.7 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients’ needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

For more information, visit www.hanleyinvestment.com.

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Jeff Lefko, Executive Vice President
Email: Send Email
Phone: 949.585.7682
Address:3500 E. Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/