Chicago & Midwest + Midwest + Retail | January 4, 2023

Hanley Investment Group Real Estate Advisors arranged the $17.2-million sale of an Omaha shopping center acquired by a high-volume Hy-Vee grocery store

Hanley Closes Sale of Grocery-Anchored Omaha Retail

Hanley Investment Group Real Estate Advisors arranged the sale of Applewood Centre, a 98.6%-occupied, 112,005-square-foot shopping center anchored by a high-volume Hy-Vee grocery store in Omaha. The sale price was $17.2 million.

EVPs Jeff Lefko and Bill Asher represented the seller, Woodsonia Real Estate, Inc. of Omaha. The buyer, a Portland, OR family office, transacted all-cash.

“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.

He 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.”

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Hanley's Lefko

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).