Perkins Properties Trades Nebraska Retail Center

The nearly 175,000-square-foot shopping center—95 percent leased at the time of the deal—is home to Super Saver Foods, CVS and Dollar Tree.
Edgewood Shopping Center. Image courtesy of Hanley Investment Group

Perkins Properties has sold Edgewood Shopping Center, a 174,136-square-foot retail asset in Lincoln, Neb. Hanley Investment Group represented the seller. The RH Johnson Co. acted on behalf of the buyer, a private investor.

Built in 1991, Edgewood is home to a wide variety of tenants, including anchor Super Saver Foods and CVS, Dollar Tree and Petco. At the time of the sale, the property was 95 percent leased. A 120,000-square-foot Target shadow anchors the asset. On-site parking is available at a ratio of 5.5 spaces per 1,000 square feet.

Located on 22 acres at 5400 and 5500 S. 56th St., the property is 6 miles southeast of downtown Lincoln. Next to State Route 2, the asset is exposed to approximately 54,000 cars per day, according to Hanley.

In the last three years, Hanley has completed $400 million worth of midwestern transactions. In January, the company arranged the sale of a two-tenant retail property in Chicago. The asset traded for $3 million.