Quote:
Originally Posted by Dale
Wow! More interesting than Wallstreet, IMO. You said local developer. Does he have the wherewithal to make it happen ? Is there sufficient demand ?
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Lanoha Development's previous work are all apartment complexes, single family neighborhoods and commercial space in the suburbs so they haven't done anything like this before. The Lanoha name carries a lot of weight in Omaha though as they own a massive landscaping business here.
As for demand as of the latest numbers I saw from a few weeks ago the CBD is at 8.6% vacancy for all office space while Class A office space in the entire city is at 3.6% vacancy. There isn't much space out there for companies wanting to expand which has driven a lot of build to suit office projects in Omaha the past couple years. We could use some spec space.
Also a lot of recent reports that the condo market is finally looking like it did pre-'08.