Opus Breaks Ground on 127 KSF Build-to-Suit in Omaha
- Oct 01, 2012
Opus Development has commenced work on a new 127,000-square-foot home for Gavilon Group L.L.C. in Omaha, Neb. After considering other locations for its global headquarters, the agricultural and energy commodities distributor opted to stay put in downtown Omaha and erect its own office digs.
Designed by Open Studio Architecture, the Class A building will be a green facility, incorporating both sustainable elements and practices, and boasting a location near public transit. The Opus name is all over the project. Opus Design Build L.L.C. is serving as the design-builder on the development and Opus AE Group Inc. is the architect and engineer of record.
Gavilon’s decision to pursue a build-to-suit headquarters is a telling one. When the topic of the tightest office markets comes up in the real estate industry, Omaha is usually not a location that immediately comes to mind. However, the city’s office sector is thriving and its numbers rival that of some of the largest MSAs in the country. In the second quarter, Omaha’s vacancy rate was just 10.8 percent, compared to San Francisco’s 11.6 percent; New York’s 11.7 percent; Washington, D.C.’s 13.5 percent; and the national figure of 14.79 percent.
Opus, which expects to be in full construction mode on the Gavilon project this month, is on track to complete the facility in December 2013. Gavilon will occupy the state-of-the-art building under a lease orchestrated by commercial real estate services firm CBRE MEGA.