Project Oscar

Colliers is pleased to present Project Oscar for sale, a 153,097-square-foot, two-building Class A trophy office portfolio in the West Haymarket district of Lincoln, Nebraska. Comprising 601 P Street (81,268 SF, built 2014) and 115 Canopy Street (71,829 SF, built 2020), the portfolio offers an investor the opportunity to acquire newly constructed, institutional-quality product on adjacent parcels in Lincoln’s most dynamic mixed-use submarket—immediately west of the central business district and steps from Pinnacle Bank Arena, the University of Nebraska, and a deep base of restaurants, entertainment, and downtown corporate employers. The two buildings feature high-quality concrete and glass curtain wall construction, ground-floor retail activation, and an integrated courtyard, and they are being offered at a significant discount to replacement cost.

The portfolio is 100% leased to 11 tenants with a weighted average lease term of approximately 8.3 years, providing durable, long-duration cash flow underpinned by credit-quality tenancy. The investment is anchored by Olsson, Inc., a Nebraska-headquartered civil engineering firm with national reach occupying 41.8% of rentable area. In April 2026, just prior to launch, ownership and Olsson executed an amended and restated lease consolidating its premises across both buildings into a single coterminous 13-year term running through April 2039, with 2.0% annual escalations. The top three tenants — Olsson, Q2 Software, Inc. (a NYSE-listed fintech) and Lutz & Company — together represent 74.9% of the portfolio with a weighted-average remaining term of 10.3 years, concentrating the rent roll in established, long-committed occupiers.

Beyond its in-place income, Project Oscar offers an investor several layers of embedded value. Two active Tax Increment Financing (TIF) bonds reimburse 100% of property taxes to ownership through 2029 and 2035, representing an estimated $3.0 million of remaining reimbursement value and a quantifiable boost to going-in yield that buyers can underwrite separately. The recently signed Olsson lease also carries expansion optionality — a right of first refusal on Q2 Software’s fourth-floor 601 Building space and a conditional option on the fourth-floor 115 Canopy space—providing a built-in re-tenanting pathway that materially mitigates future rollover risk. Together, the long anchor commitment, accretive tax reimbursement, and expansion rights de-risk the largest tenancy concentration in the portfolio and create a long runway of contractual cash flow that supports both five-year and ten-year hold strategies.

Project Oscar represents a rare opportunity to acquire recent vintage Class A trophy product in a supply-constrained submarket where no competing Class A office is currently under construction. With its 2014/2020 construction, full occupancy, long WALT, durable mixed-use Haymarket location, and accretive TIF reimbursement, the asset warrants pricing in the primary-market trophy tier. For an investor seeking stabilized, institutional-quality cash flow with embedded upside in one of the Midwest’s most vibrant downtown submarkets, Project Oscar offers a compelling combination of quality, durability, and basis.

Available