PropertyBanc Construction Management is keeping busy with several projects

PropertyBanc Construction Management is keeping busy with several projects underway and several more in the schematic design stage.

With the completion of the Van Wall building addition that houses the Doosan dealership, the House & Home Center is growing. Pelster Construction is well underway on the new Benjamin Moore Color Store Building. These two businesses add nearly 18,000 SF of service and sales to the already booming complex.

The new 5,000 SF SunSprouts is also adding final touches to their state-of-the-art “clean room” production facility. They are scheduled to occupy by the end of the month at 133^rd and A Streets.

City Light Church is making plans to expand into an additional 11,000 SF in the lower level of the historic Omar Building at 43^rd and Nicholas Streets. The architects are nearly complete with the design development and ready to submit to the City for permits.

NEBRASKA ADVANTAGE MICROENTERPRISE TAX CREDIT

This information was provided by Rand Hansen of HSMC-Orizon and Propertybanc thinks it may have value to some of you in your businesses:

(August 28, 2014 – Omaha, Nebraska)  Nebraska offers an extremely valuable income tax credit to businesses that demonstrate growth over two tax years. This credit, unlike most incentive credits, is directed exclusively at very small businesses. The credit is 20% of the new investment or new employment over a two-year period. The total lifetime credits available to any single taxpayer or any related persons is $10,000. For each year through 2015 the legislature has set aside $2 million for this credit.

In order to be eligible, the taxpayer must be actively engaged in the operation of a microbusiness with personal involvement on a continuous basis in the daily management and operation of the business. The business must employ 5 or fewer full-time equivalent Nebraska residents on the date of the application. There are limitations on which farm operations qualify for the credit. The applicant must use E-Verify, a federal electronic employment verification program.

Growth in investment is measured by the increase in spending for equipment or facility over the base year (the year prior to the application). This includes purchase of equipment, repairs of equipment and facilities, increase in lease obligation, advertising and legal and professional fees. Growth in employment is measured in increase in wages and health insurance paid. There are upper limits on the amount of wages that can be taken into account.

Note that virtually any business that is starting up and will be employing less than 5 full-time equivalents has an excellent chance of qualifying. Also of note is that this is a refundable credit, which means you do not have to pay income tax to receive the benefit. This is significant because although many start-up businesses do not have a profit and, therefore, have no tax liability, they can receive the credit as a grant rather than just as an offset to future taxes.

You can find more information about this credit at:

http://www.revenue.nebraska.gov/incentiv/microent/microent.html

or call Rand Hansen in our office at (402) 330-7008

IT’S A SELLER/LANDLORD’S MARKET—OPPORTUNITY TO BE CONSIDERED!

As some of you may know, the Omaha commercial real estate market has experienced a marked improvement in the past two years and we are seeing a shortage of available properties for sale and rent.  We have a list of potential purchasers who have asked us to assist in their search but we are not finding the available buildings that match their needs.  Consider calling our real estate professionals to have them visit with you about what your property may be worth in today’s market.  If you have had any desire to consider a sale, it would be an ideal time to see what an estimate of your property’s value might be.  Propertybanc assists both buyers and sellers in addition to tenants and landlords.   We would appreciate an opportunity to list your property!

Nebraska on Business Friendly List at #3

A recent article in the OWH indicated that Nebraska continues to work hard to recruit and retain jobs and investments for the state.  After considering 32 factors including taxation, human resources, infrastructure, economic incentive programs and development efforts, they were ranked 3rd and remained in the top 10 for the 6th year in a row.

Strong factors included low employment, favorable regulatory environment, transportation infrastructure and right-to-work status.  The state’s economic condition has continued to show strength and we are pleased to see the environment that has worked hard to balance the benefits for business and citizens.

 

College World Series

PropertyBanc, Inc. is excited to have visitors from all over arrive in Omaha over the next several days for the College World Series. The downtown area will be busy with lots of excited fans, friends and family supporting all of the college athletes and the beloved game of baseball. Downtown Omaha is not the only place people will flock, local eateries, attractions and entertainment all see an influx of guests. PropertyBanc is excited to be apart of the Omaha community and welcome all of the visitors to our fine community.

For more information on the College World Series.

 

Omaha Adds to its Premier Equipment Lines

Van Wall Equipment at 13747 Industrial Road in Omaha, NE is expanding.

The company has been involved with John Deere since 1944. During that time they have expanded their product and service lines to include: agriculture, construction, lawn & garden, golf & pro turf, utility vehicles, power sports, and wind energy.

Now in addition to their top equipment lines, they are adding Doosan. The dealership will supply lift equipment to the Eastern Nebraska – Western Iowa region.

The nearly 11,000 SF addition is under construction, with an anticipated completion this summer.

Events Gaining Popularity at OMAR Arts & Events

The OMAR Arts & Events has been opened since late December 2013 and has already hosted the Opera Omaha 2014 Gala, Omaha Fashion Week and now the Faces on the Ballroom Floor honoring the McDermotts. These events have brought great awareness to the new venue and the OMAR Building. In addition, the venue has hosted several weddings, wedding receptions, and business/organizational meetings. The venue’s calendar is filling up quickly due to great interest in the open space, plentiful parking, and the unique art-deco renovations.

For more information on the OMAR Arts & Events, please visit their website at http://www.omarevents.com, call 402.905.9511 or check them out on Facebook at https://www.facebook.com/OmarEvents.

Omaha’s commercial market continues to progress!

Recent article in Midlands Business Journal indicate further strengthening in the commercial market in the metro. Vacancy rates in the office market are below 2008 pre-recession levels, which is considered unhealthy. This situation tells us that there is not enough product to meet the current demand. Industrial vacancy rates appear to be in the same situation with a shortage of space available. One of the agents quoted in the article noted that there are a number of construction projects going on presently. As would be expected, demand is high for prime locations and in some cases, tenants or buyers are tearing down current structures and rebuilding on the same site.

New Buildings Incorporate More Technology

Omaha, NE — According to local engineers “value-added technology is starting to make inroads into the local market”. Up until now, up-front costs have largely been the deterrent for implementing the latest technology and features. However, it seems that building owners are no longer just looking for the cheapest but rather focusing on the life cycle of certain options and looking at environmentally conscious choices. Some of the features engineers and building owners are implementing more often now include: low-voltage lighting systems, motion sensors, variant refrigerant flow, and system management by electronic devices (smart phones & tablets). Look around the next time you are in a newly constructed building and take notice of how “smart” the system is in the building!

Reference: Midlands Business Journal – February 21, 2014

Industrial Vacancy Rate at historic low at year end 2013!

According to the most recent Xceligent report concerning business lease activity, industrial space is getting harder to find.  Fourth quarter statistics indicate that there was 265,000 sf of industrial space absorbed in the year.  Asking rates for this type of property were increased 8% over that same time period with an ending vacancy rate of 4.8%, which is very low by historical standards.  With very few new projects underway, the market appears to be very tight for businesses requiring new or larger quarters.