Image courtesy of Federal Realty Investment Trust<\/em><\/figcaption><\/figure><\/div>\n\n\nFederal Realty Investment Trust has purchased Village Pointe, a 453,000-square-foot lifestyle center in Omaha, Neb., for $153.3 million, or $255.5 per square foot. RED Development sold the asset after owning it for 21 years, according to Yardi Matrix information. <\/p>\n\n\n\n
This is the first time the property changed hands since its completion in 2004, the same data provider shows.<\/p>\n\n\n\n
Village Pointe came online at 17305 Davenport St., featuring 12 single-story buildings across a 40-acre site. Shadow-anchored by a 177,000-square-foot Scheels store, the lifestyle center\u2019s tenant roster includes Apple, Best Buy, Lululemon, Sephora, Coach, Bentley, Old Navy, Gap, Claire\u2019s and Nordstrom Rack.<\/p>\n\n\n\n
The property serves an area with almost half a million inhabitants and draws approximately 6 million visitors annually, according to Federal Realty. The households on a 3-mile radius of Village Pointe boost annual average incomes that exceed $180,000.<\/p>\n\n\n\n
Village Pointe sits just off U.S. Route 6, which connects the property to downtown Omaha, 13 miles east. The property is surrounded by several other retail spaces and eateries.<\/p>\n\n\n\n
In the first 11 months of this year, the retail market in Omaha registered no less than $235.5 million in investment sales, with 10 assets changing hands at an average price of $146.5 per square foot, according to Yardi Matrix data. This figure was almost four times the $61.4 million recorded during the same period in 2024, when the average price per square foot clocked in at $114.<\/p>\n\n\n\n
Apart from Village Pointe, Federal Realty’s retail portfolio in the Midwest also includes two shopping centers in Leawood, Kan., acquired in July of this year for a total of $289 million. The two assets, Town Center Plaza and Town Center Crossing, are both open-air retail centers, amounting to 550,000 square feet.<\/p>\n\n\n\n
More recently, Federal Realty paid $187 million<\/a> for the 480,000-square-foot, Whole Foods-anchored Annapolis Town Center in Anne Arundel County, Md. Broader retail trends<\/a> continue to shape the overall investment volume and property operations across open-air shopping centers in the U.S., due to a constant demand of necessity-based, grocery-anchored assets.<\/p>\n","protected":false},"excerpt":{"rendered":"This is the first time the Omaha asset has changed hands since its completion two decades ago.<\/p>\n","protected":false},"author":3619,"featured_media":1004779952,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,13,21742,21749],"tags":[33957,44177],"class_list":["post-1004779903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midwest","category-latest","category-retail","tag-federal-realty-investment-trust","tag-red-development"],"acf":[],"yoast_head":"\n
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