California Private Owner Sells Old Mill Centre Retail Strip In Omaha For $7.5M

This transaction involved a retail asset located at 10888 West Dodge Road in Omaha, NE, encompassing 6.1 acres. The property is a 75,089-square-foot retail strip, anchored by a long-term lease with the Social Security Administration, and has a current occupancy rate of 67% with eight vacant suites. The sale price for the asset was $7,500,000, translating to a price per square foot of $100.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $7,500,000
• Address: 10888 West Dodge Road
• Market: Omaha, NE
• Acres: 6.1
• Square Footage: 75,089
• Price per Square Foot: $100
• Occupancy: 67%
• Vacant Suites: 8
• Seller: California private owner
• Buyer: Local value-add investor group
• Brokerage: Marcus & Millichap
• Brokers: Chris Garavaglia, Alex Perez & David (Dave) Saverin

Marcus & Millichap facilitated this transaction, representing the seller, a private owner from California, and the buyer, a local investor group. Their role was crucial in securing the $7.5 million sale for the Old Mill Centre retail asset.