{"id":1004263697,"date":"2018-09-10T00:01:35","date_gmt":"2018-09-10T08:01:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004263697"},"modified":"2022-12-08T06:12:45","modified_gmt":"2022-12-08T14:12:45","slug":"prep-buys-655-ksf-shopping-center-in-nebraska","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prep-buys-655-ksf-shopping-center-in-nebraska\/","title":{"rendered":"PREP Buys 655 KSF Shopping Center in Nebraska"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<div id=\"attachment_1004263703\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Shadow-Lake-Towne-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004263703\" data-attachment-id=\"1004263703\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/prep-buys-655-ksf-shopping-center-in-nebraska\/shadow-lake-towne-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Shadow-Lake-Towne-Center.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Shadow Lake Towne Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Shadow Lake Towne Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Shadow-Lake-Towne-Center.jpg?w=800\" class=\"wp-image-1004263703 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Shadow-Lake-Towne-Center.jpg\" alt=\"Shadow Lake Towne Center\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Shadow-Lake-Towne-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Shadow-Lake-Towne-Center.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Shadow-Lake-Towne-Center.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004263703\" class=\"wp-caption-text\">Shadow Lake Towne Center<\/p><\/div>\n<p>PREP Property Group Inc. has acquired Shadow Lake Towne Center, a 654,666-square-foot regional shopping center in Papillion, Neb.<\/p>\n<p>Located at 7775 Olson Drive, on the southwest corner of 72nd&nbsp;Street and Highway 370, the retail center sits just 10 miles from downtown Omaha. Shadow Lake Towne Center was completed in 2007&nbsp;and has a tenant roster that includes Dick\u2019s Sporting Goods, JCPenney, ULTA, Bed Bath &amp; Beyond, Best Buy, PetSmart, Old Navy and other national and regional tenants.<\/p>\n<p><em>\u201cShadow Lake Towne Center is a great project that will allow our experienced real estate team to focus on creating additional value, while enhancing the retail experience to accommodate the growing population of Omaha and the surrounding neighborhoods,\u201d&nbsp;<\/em>Michael Phillips, PREP\u2019s president &amp; CEO, said in a prepared statement.<\/p>\n<p>PREP\u2019s strategy revolves around transforming&nbsp;retail real estate by repositioning undermanaged or capital-starved lifestyle centers, power centers and enclosed malls. PREP\u2019s current Strategic Investment portfolio consists of Hanover Crossing in Hanover, Mass., Kenwood Collection in Cincinnati and The Shoppes at Parma in Parma, Ohio.&nbsp;PREP also has a Net Lease Investments division that acquires well-located, single tenant net leased retail properties throughout the U.S.<\/p>\n<h2>Market on an upswing<\/h2>\n<p>According to Colliers International\u2019s latest Omaha retail market report, the vacancy rate for the Omaha retail market decreased slightly from 8.4 percent to 8.3 percent quarter-to-quarter. The report also noted that the future of traditional mall space is unclear, as the sector could see a decrease due to e-commerce&#8217;s continued growth.<\/p>\n<p>As the southern portion of the Omaha metro continues to thrive, the shopping complex is well positioned to take advantage of the increased through a dynamic retail setting.<\/p>\n<p>In November, Uber Capital Group LLC secured a $7 million loan for the acquisition of Conestoga Mall, a <a href=\"https:\/\/www.commercialsearch.com\/news\/uber-capital-group-finances-nebraska-retail-asset\/\">611,719-square-foot enclosed retail center<\/a> located in Grand Island, Neb.<\/p>\n<p><em>Image courtesy of&nbsp;PREP Property Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Cincinnati-based company expanded its portfolio with the acquisition of Shadow Lake Towne Center in Omaha. Tenants include Dick\u2019s Sporting Goods, JCPenney, Best Buy and Old Navy.<\/p>\n","protected":false},"author":451,"featured_media":1004263703,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21742,21749,15],"tags":[35041,32763,38136,41951],"class_list":["post-1004263697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-latest","category-retail","category-west","tag-best-buy","tag-colliers-international","tag-jcpenney","tag-prep-property-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PREP Buys 655 KSF Shopping Center in Nebraska - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/prep-buys-655-ksf-shopping-center-in-nebraska\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PREP Buys 655 KSF Shopping Center in Nebraska\" \/>\n<meta property=\"og:description\" content=\"The Cincinnati-based company expanded its portfolio with the acquisition of Shadow Lake Towne Center in Omaha. Tenants include Dick\u2019s Sporting Goods, JCPenney, Best Buy and Old Navy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/prep-buys-655-ksf-shopping-center-in-nebraska\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-10T08:01:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T14:12:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Shadow-Lake-Towne-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prep-buys-655-ksf-shopping-center-in-nebraska\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prep-buys-655-ksf-shopping-center-in-nebraska\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"PREP Buys 655 KSF Shopping Center in Nebraska\",\"datePublished\":\"2018-09-10T08:01:35+00:00\",\"dateModified\":\"2022-12-08T14:12:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prep-buys-655-ksf-shopping-center-in-nebraska\\\/\"},\"wordCount\":334,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prep-buys-655-ksf-shopping-center-in-nebraska\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/09\\\/Shadow-Lake-Towne-Center.jpg\",\"keywords\":[\"Best Buy\",\"Colliers International\",\"JCPenney\",\"PREP Property Group\"],\"articleSection\":[\"Deals\",\"Featured\",\"News\",\"Retail\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prep-buys-655-ksf-shopping-center-in-nebraska\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prep-buys-655-ksf-shopping-center-in-nebraska\\\/\",\"name\":\"PREP Buys 655 KSF Shopping Center in Nebraska - 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