NAI FMA Realty Brokers $19.2 Million Office Sale and Awarded Management
NAI FMA Realty, a leading provider of commercial real estate services, is pleased to announce an office investment sale in Lincoln, Nebraska for $19.2 million, the firm’s largest transaction to date. Ernst Capital Group, a private equity firm out of Sioux Falls, SD purchased the Center on N, located in downtown Lincoln. NAI FMA’s Senior Associate Broker, Chris Vasek, represented the seller, 1221 Tower, LLC.
The Class A property consists of ¾ of a block on 12th and N streets, totaling 228,145 rentable square foot. The Center on N underwent significant capital improvements from 2014-2017 and is now 91% leased and anchored by Great Western Bank. The buildings are home to other prestigious tenants such as Davis Design, the State of Nebraska, Resource Pro, and New York Life.
NAI FMA Realty was also awarded the property management, maintenance, and leasing contracts, which will continue under the new ownership. The addition of this portfolio expands NAI FMA’s third-party property management portfolio to more than 4 million square feet throughout Lincoln. Center on N will be leased by Vasek and managed by Michelle Wangler, NAI FMA’s Senior Property Manager.
“We are pleased to be working with Ernst Capital Group on their expanding investment portfolio into the Lincoln market, and are committed to meeting the operational needs of the property and providing first-class service for the tenants,” said NAI FMA’s Senior Vice President of Property Management Scott Vyskocil.
NAI FMA Realty is Southeast Nebraska’s leading full service commercial real estate services firm with over five decades of experience advising clients on commercial sales, leasing, property management, facility maintenance, lease administration, and project coordination services. As a member of NAI Global, a network of owner-operated commercial real estate brokerage firms, NAI FMA Realty can facilitate transactions around the nation and the world. For more information, visit www.naifmarealty.com.