Five Guys Burgers & Fries Article in Journal Star

Read the article from February 25, 2010 written by Matt Olberding featuring the new franchise coming to Lincoln in May.

Tsuru Moving to New Downtown Location

Tsuru, a locally-owned boutique, is moving to a new downtown location in July.  The new space is next to the Novel Idea.  Matel Rokke, the owner, has had the boutique for three years which features clothing, jewelry and accessories.

If you are looking for a small retail shop in downtown, come take a tour!  This street retail space consists of 830 square feet and great visibility!  The space is next to the Rocco Theatre and east of the Wells Fargo Center.  Contact Marc Snow, NAI FMa Realty at 441-5819 for more information.

Clocktower Adding New Tenants

Clocktower shopping center sounds like it will fill some of its vacancies.  The new owners commented that a sports bar, sports apparel store and a shoe store have committed to opening at the center.  Jimmy John's is a newer tenant as well.  Good to see new openings at the center.

Last Call for Local Bars

A couple of local bars have announced their "last call" for Lincoln.  Yesterday, the space that currently houses 1st Avenue Bar and Reception Hall located at NW 1st and Cornhusker Hwy. came on the market as available for lease effective May 2010.  WC's Lounge (business) at 1226 P Street is now on the market for sale.  Some of you might remember that the building was recently bought by B & J Partnership.  And another long-established bar location has been available for lease in southeast Lincoln in the Alamo Shopping Center.  The bar had been Bleachers for a number of years but the business sold in early 2009.  The new bar owners renovated the space and changed the name to The Element Sports Bar and Grill but their hardwork did not pay off because it closed by fall 2009.  So if you are looking to get into the bar business there are plenty of opportunities!

Good Life Fitness Opens on Van Dorn

Good Life Fitness has opened at 300 Speedway Circle (Van Dorn & Park Blvd).  Steve Auxier, a certified personal trainer, has relocated his N-10sive Boot Camp program to this site and plans to add weight and cardio equipment within the coming months.

Friday's Featured Listing - Land Available For Sale With NO IMPACT FEES

Excellent opportunity to build in southeast Lincoln on a site with NO IMPACT FEES!  37,000 sq. ft. site available at 27th & Grainger Parkway.  You can build up to a 8,100 sq.ft. retail building or a 4,000 sq.ft. restaurant.  Join neighbors as First State Bank of Hickman and Las Margaritas.  If interested, contact Richard Meginnis at 402-441-5828.

Tale of Two Cities

Read a USA Today article written about two cities, Lincoln and Merced, CA, and how they compare as No. 2's in a list of metropolitan area unemployment rates - Lincoln as the second-lowest unemployment rate and Merced the second-highest.

Five Guys Burgers & Fries Coming to Lincoln!

Five Guys Burgers & Fries plans to open their first Lincoln location at 1230 P Street by early April.  They sell burgers, fries and hot dogs (if you haven't already guessed).  Five Guys is a Virginia-based company which opened its first restaurant in 1986 and has now expanded to over 450 locations in 30 states through their franchise program.  Richard Meginnis and Chris Vasek assisted the franchisee in selecting a site. 

Updates for the Retail Market

Just some quick retail changes that are happening...The Joint, which is a chiropratic office, is taking the east end cap of the small retail strip where Starbucks is located at 33rd & O Streets.  And by the end of the year, Gordman's will move to a new location on N. 27th Street next to Bed, Bath & Beyond leaving a sizeable hole in central Lincoln.

Former NREC Executive Directory Tyrrell Loses Battle with Cancer

Leslie "Les" Tyrrell, the former Nebraska Real Estate Commission Executive Director, passed away on Sunday after a 4-year battle with cancer.  Tyrrell, who began his career with NREC in 1978, was appointed Executive Director in 1991 and held this position until his retirement in 2009.  Our condolences to his family and friends.

Qdoba Mexican Grill Opening Downtown Location

We heard from a reliable source that Qdoba Mexican Grill is opening a downtown location next to Panera Bread at 12th & P Streets.  This will make their second location for Lincoln. 

Qdoba's website states they have been around for 14 years and in 2009 they planned to build more corporate-owned restaurants than in any year in their history.  With the economy as it was, curious if that happened.

Cars4Less Leasing Former Car Lot

The former John Hall Motors car lot at N. 48th St & Cleveland Ave. has been leased to Cars4Less.  Marc Snow and Sally DeLair represented the owner.

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Which Retailers & Restaurants Look to Expand in 2010?

As consumer confidence and spending has begun to improve, some retailers are now moving back into growth mode and expanding in today's market.  Discount chains and quick-service restaurants seem to be the retailers planning multiple new locations in 2010.  Burger King says it will open 300 units and Panera Bread plans to open around 100.    Target (128), Wal-Mart (16) and Costco (23) are some of the national discounters talking about expansions.  My hope is Costco will consider Lincoln again for one of those 23 new sites.  (Source: Shopping Centers Today December 2009 issue.) 

More encouraging news was there were fewer store closings in the second half of 2009 for the Lincoln market.  Our latest market report showed retail vacancy only increasing to 8.8% up from 8.7% after the first half of 2009.

New Haymarket Arena is One Step Closer

Last night after almost 3 hours of city leaders and private citizens testifying on whether a portion of the arena financing should be put to a public vote on the May 11th primary election ballot, the Lincoln City Council voted 6-0 for it.  Lincoln is one step closer!

Physicians Weight Loss Center Opens at 25th & Superior

Physicians Weight Loss Center has leased office space in the Ticonderoga Center at 2550 Superior Street.  This makes their second location for Lincoln with the first location at S. 56th & Waltz Road just north of Liberty First Credit Union.  Marc Snow and Tom Graf represented the landlord.

City Council to Vote on Arena Issue

The Lincoln City Council will be voting on Monday on whether to put a proposed arena project on the May 11th primary election ballot.  The council will also be asked to approve agreements to form a joint public agency with the University of Nebraska to finance the project and for the men's and women's basketball teams to play in the arena.  Read more on the proposed Haymarket arena.

To go to the public hearing...3pm Monday at the County-City Building, 555 S. 10th Street.

Friday's Featured Listing - Small Office in Great Neighborhood

2300 Winthrop Road is a stand-alone office building in the Country Club neighborhood and is available for lease.  Property is just south of Leon's Grocery and offers office users a high parking ratio.  Includes a full basement for storage needs.  Contact Tom Graf or Richard Meginnis at 402-441-5800 for additional information or to tour.

Water Street Solutions Leases 2200 Fletcher Ave.

Water Street Solutions, who is based out of Peoria, Illinois has leased office space at 2200 Fletcher Ave.  Water Street helps farmers across the Midwest with profitability by leveraging financial analysis, crop insurance and commodity marketing strategies.  Tom Graf and John Hyland represented Water Street Solutions and Hank Woods and Chris Vasek represented the landlord.

Have the Suds Dried Up?

On my way home, I typically take 9th Street and pass by the small laundromat located on the southwest corner of 9th & Rose Streets.  It always appeared to be busy with cars parked in front and people hauling out their clean laundry.  The past few weeks though I have noticed the interior lights have been off and no activity around the property.  I haven't had a chance to stop to check if the laundromat is still is business.

Vacancy Rates are Stabilizing

The 2nd Half 2009 Lincoln market report was released last Thursday and shows that vacancy rates are starting to stabilize.  The office market had the greatest increase in the overall vacancy which jumped to 10.4 percent from 9.3 percent at the end of Jun 2009.  The retail market showed only a slight increase from 8.7 percent to 8.8 percent.  And industrial actually decreased from 12.1 percent in June 2009 to 12 percent at the end of the year despite having the largest amount of available space on the market.  The good news out of all of this is that Lincoln is fairing better than the national average for all sectors.

On Saturday, January 30th, the Journal Star featured an article "Report: Vacancy rates stabilizing" written by Matt Olberding in the Business section of the paper summarizing the findings from the report.  Thank you to Matt for giving us some press time.

NAI FMA issues a market report twice a year to provide information on how the local commercial real estate market faired during the past six months and discusses the trends we see out in the market place.  All existing office, retail and industrial buildings are included except those that are government- or university-owned and occupied.

Feel free to contact us to discuss the report further or add you to our email list to receive the report directly to your inbox.

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