Press Releases
Marcus & Millichap Brokers $7.5M Sale of 21-Suite Retail Property in Omaha, Nebraska
June 16, 2025
OMAHA, Neb., June 16, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Old Mill Centre, a 21-suite retail strip property in Omaha, Nebraska, for $7.5 million.
“Old Mill Centre presented a rare value-add opportunity in a market where stabilized assets continue to trade at compressed cap rates,” said Chris Garavaglia, managing director investments. “With a strong location, solid tenant base and clear upside through lease-up, the buyer is well-positioned to execute their business plan and capitalize on ongoing demand in the Omaha market.”
Garavaglia, Alex Perez and Dave Saverin, investment specialists in Marcus & Millichap’s St. Louis office, had the exclusive listing to market the property on behalf of the seller, a private individual out of California, and procured the buyer, a local value-add investment group. Jon Ruzicka is the firm’s broker of record in Nebraska.
Old Mill Centre spans 75,089 square feet across four buildings on 6.15 acres at 10888 W. Dodge Rd. The property is 67 percent occupied and anchored by the Social Security Administration, which recently signed a 15-year renewal through 2036. Positioned at the high-traffic interchange of Interstates 680 and W. Dodge Rd., the center offers strong visibility and access within a five-mile radius of more than 250,000 residents. The tenant mix includes medical and service retailers with eight vacant suites.
“Old Mill Centre presented a rare value-add opportunity in a market where stabilized assets continue to trade at compressed cap rates,” said Chris Garavaglia, managing director investments. “With a strong location, solid tenant base and clear upside through lease-up, the buyer is well-positioned to execute their business plan and capitalize on ongoing demand in the Omaha market.”
Garavaglia, Alex Perez and Dave Saverin, investment specialists in Marcus & Millichap’s St. Louis office, had the exclusive listing to market the property on behalf of the seller, a private individual out of California, and procured the buyer, a local value-add investment group. Jon Ruzicka is the firm’s broker of record in Nebraska.
Old Mill Centre spans 75,089 square feet across four buildings on 6.15 acres at 10888 W. Dodge Rd. The property is 67 percent occupied and anchored by the Social Security Administration, which recently signed a 15-year renewal through 2036. Positioned at the high-traffic interchange of Interstates 680 and W. Dodge Rd., the center offers strong visibility and access within a five-mile radius of more than 250,000 residents. The tenant mix includes medical and service retailers with eight vacant suites.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
