Omaha Forums

http://www.omaha.com/index.php?u_pg=46& ... rnd=186322

New York based Cerberus Capital Management has become the owner of 1200 Landmark Center as part of it's purchase of Pitney Bowes capital services business.  Taxable value of the building is $25.97 million.

Downtown coffeehouse closing

http://www.omaha.com/index.php?u_page=2 ... d=10576483

www.omaha.com wrote:There will be no more lattes served or window seats for people watching at the MJ Java downtown.

The coffee shop served its last cup Saturday after 15 years at the corner of 13th and Farnam Streets, in the Landmark Building.

Daren Kizlin, president of the company, said on Sunday that business had slowed after tenants in the Landmark Building and the State of Nebraska office building to the west moved out.

Kizlin said that MJ Java would keep its retail outlet at 8970 J St. and its Irvington and Metro Community College stores open.

Oh my gosh. This is crazy because I just saw it the other day and thought to myself "Oh my gosh, they're still open? I thought they closed down YEARS ago." I was happy to see it open and was planning on popping in there sometime soon. I guess not now.

What businesses are they talking about that moved out of the Landmark Building and the state office building?

StreetsOfOmaha wrote:What businesses are they talking about that moved out of the Landmark Building and the state office building?

The IRS for one.

This is another nail in the coffin of the street life around the Leahy Mall,

We need small businesses on Farnam and Douglas around the mall.

Density in downtown is a must, but we cannot get it right.

Just look at the immediate surroundings of the mall, and it is just desolate.

Let's ask for this on the downtown master plan being developed.  I did not make
the recent forum, but I will watch it as it progresses.

Vince

Vince Furlong wrote:This is another nail in the coffin of the street life around the Leahy Mall,

We need small businesses on Farnam and Douglas around the mall.

Density in downtown is a must, but we cannot get it right.

Just look at the immediate surroundings of the mall, and it is just desolate.

Let's ask for this on the downtown master plan being developed.  I did not make
the recent forum, but I will watch it as it progresses.

Vince

A streetcar line down farnam would really help with that...

Vince Furlong wrote:Density in downtown is a must, but we cannot get it right.

Just look at the immediate surroundings of the mall, and it is just desolate.

Considering the two square blocks of buildings torn down to build the mall in the first place would have been the perfect structures to ring the mall, I have absolutely no doubt that the city will be able to completely and totally |expletive| this opportunity up, as well.

sometimes i wonder if there's much promotion on behalf of the city to lure retailers downtown.  Seems like there's always some developer that's able to draw business into places out west, but there hasn't been a major retailer/food of any kind (CVS, walgreens, macdonald's, taco bell, jason's deli, caribou, macy's, dillards, target, etc) to head down there.  With 8,000 or so people that live downtown, and all those that visit downtown, you would think that having more options down there would make too much sense.  There will soon be even more people living downtown, and much of the "new" will be very near to the landmark center.  Taking a walk from there to Wall Street, for example, is just a matter of blocks.  I know when we went to Minneapolis and Chicago, we walked to and made purchases at places that were nearly a mile away, only to walk that way back with said purchases.  I just don't get why it hasn't happened yet?  And at the landmark center, the space is already there.  Same with the 1600 farnam area, but that's another thread.

There really isn't a group that is dedicated to encouraging new businesses to locate downtown- almost all of the businesses are that downtown, moved downtown or started downtown because the person who owned the business or building made an effort to get people into the area. There is an overall Omaha Development group, but they try to bring in companies to the greater Omaha area, not just downtown. I think this is something that the DID could eventually do,but the DID is still very young and is focusing on some of the more immediate needs of the area such as making it greener, cleaner and safer- I guess we'll just have to see over the next couple of years who is willing to take a chance downtown... for what it's worth, I think most businesses that locate downtown do pretty well if they have a good business plan and are managed well. MJ Java may not have done the best but every time I walked past it, it was closed.

RegisResident wrote: I think this is something that the DID could eventually do,but the DID is still very young and is focusing on some of the more immediate needs of the area such as making it greener, cleaner and safer

The DID needs disbanded. They're inept and pointless. I could give a |expletive| less about DT been "green" (needless, liberal nonsense) or "safe". Downtown isn't dangerous. I walk around my neighborhood horribly inebriated at 4am before I'd walk through other parts of Omaha sober in the day time.

Not to get this off topic too much about the DID but I would much rather they focus on getting retail DT than having a goddam pointless "pick up your cigarette butts" campaign. People don't need to know where they can put their cigarette butts at DT. They want to know where they can shop, live, and work.

DTO Luv wrote:"needless, liberal nonsense"

I want that on a hat. It describes me perfectly.

I want a Macy's downtown. Or some big department store. With a Makeup Counter. Preferably MAC. 'cause when I'm rich I'm going to wear that expensive |expletive| to death.
I can work naked behind the counter - like Amanda Lepore!

Shopping is a much higher priority than about most things people in charge want to do DT. It makes me sick since none of them have anything vested in DT other than land deals.

Regis Resident makes a great point.....

I hope the DID in this next year can add economic development in the small retail and small service
areas to their current agenda of trees, homeless, and safety.

We need a comprehensive approach over many issues rather than concentrating on a few to
make downtown tick.

Vince

Who are/will be the tenants at Landmark?
Did I hear the Gavilon us taking over the first floor?

If you walk into the building, the section to the south of the security desk, says that individual work space is coming soon. It sounds like they are going to divide it up and rent the smaller spaces for a business center.

skinzfan23 wrote:If you walk into the building, the section to the south of the security desk, says that individual work space is coming soon.  It sounds like they are going to divide it up and rent the smaller spaces for a business center.

So Gavilon is using the first floor themselves and subleasing the rest?

I am not sure, I haven't heard anything about them yet. Not saying they aren't moving in, but I haven't heard anything.

Gavilon already needs new space?

iamjacobm wrote:Gavilon already needs new space?

I wouldn't think so. As of a few months ago they had an entire floor empty for expansion, unless that was already filled?

I just looked on a real estate page and Landmark only has 100 square feet of space on the first floor, if I read the ad right.

Just found this picture of the space where the Landmark Parking garage is now.


And here is the current view:

skinzfan23 wrote:Just found this picture of the space where the Landmark Parking garage is now.


And here is the current view:

The building at the end is still there. That is where Michael's is located.

Current office space available by floorplan. There is quite a bit with PacLife's departure.

http://x.lnimg.com/attachments/71CCEB2E ... EE1C2E.pdf

Wow, that is a lot of space. Pacific Life also has occupancy of the 14th floor currently. I wonder if that is going to become available around that time too.

Not that it is good to see empty space DTO Class A space is pretty tight. I wouldn't be surprised if some smaller firms that haven't been able to find suitable space could jump in here. Great location and lots of floor plate options.

skinzfan23 wrote:Wow, that is a lot of space.  Pacific Life also has occupancy of the 14th floor currently.  I wonder if that is going to become available around that time too.

That's the floor my colleagues and I work on. I think Lund just recognizes we're not replaceable.

More seriously, I would have to guess that if it is not included in the available list, they must already have a new tenant secured. Hope so.

I'm not sure if the design/layout of the building would be conducive, but I think this place would make a cool conversion into residential units several years down the road. Just imagine the vaulted ceilings you'd have with the triangley-bits across the top of this place. Plus the parking garage across the street, plus the entertainment across the street.

RNcyanide wrote:I'm not sure if the design/layout of the building would be conducive, but I think this place would make a cool conversion into residential units several years down the road. Just imagine the vaulted ceilings you'd have with the triangley-bits across the top of this place. Plus the parking garage across the street, plus the entertainment across the street.

I don't think the top floor has different ceilings. I believe the triangle parts were added to the top of the building for cosmetic purposes.

skinzfan23 wrote:

RNcyanide wrote:I'm not sure if the design/layout of the building would be conducive, but I think this place would make a cool conversion into residential units several years down the road. Just imagine the vaulted ceilings you'd have with the triangley-bits across the top of this place. Plus the parking garage across the street, plus the entertainment across the street.

I don't think the top floor has different ceilings.  I believe the triangle parts were added to the top of the building for cosmetic purposes.

I have been on 15 and the ceilings do go to the top of the triangles. A friend of mine is one of the lawyers up there and showed me around.

guy4omaha wrote:

skinzfan23 wrote:

RNcyanide wrote:I'm not sure if the design/layout of the building would be conducive, but I think this place would make a cool conversion into residential units several years down the road. Just imagine the vaulted ceilings you'd have with the triangley-bits across the top of this place. Plus the parking garage across the street, plus the entertainment across the street.

I don't think the top floor has different ceilings.  I believe the triangle parts were added to the top of the building for cosmetic purposes.

I have been on 15 and the ceilings do go to the top of the triangles. A friend of mine is one of the lawyers up there and showed me around.

That's a shame.

Maybe I didn't explain clearly. The ceilings on 15 are vaulted.

It would be a cool residential conversion, but I really hope it stays office space. I'd hate to see downtown lose anymore offices. It's a much more vibrant place with a good mix of office, residential, retail, entertainment, hospitality, etc. there are plenty of surface lots down there that are just begging to have a new residential tower built on top of garage space, retail and office.

GetUrban wrote:It would be a cool residential conversion, but I really hope it stays office space. I'd hate to see downtown lose anymore offices. It's a much more vibrant place with a good mix of office, residential, retail, entertainment, hospitality, etc. there are plenty of surface lots down there that are just begging to have a new residential tower built on top of garage space, retail and office.

Completely agree. Not everything needs to be mixed-use. I really like the look of this building, especially with its contrasting style next to the Old Market. It does scream "office tower" and that's totally fine - like GetUrban said, boot some of the surface lots for new residential buildings.

NEDodger wrote:

GetUrban wrote:It would be a cool residential conversion, but I really hope it stays office space. I'd hate to see downtown lose anymore offices. It's a much more vibrant place with a good mix of office, residential, retail, entertainment, hospitality, etc. there are plenty of surface lots down there that are just begging to have a new residential tower built on top of garage space, retail and office.

Completely agree.   Not everything needs to be mixed-use.   I really like the look of this building, especially with its contrasting style next to the Old Market.   It does scream "office tower" and that's totally fine - like GetUrban said, boot some of the surface lots for new residential buildings.

I agree. However, I was speaking hypothetically 20-30+ years down the road. By that point, hopefully we have a few more office options to choose from.

I wouldn't call it a trend yet, but there is an interesting thing to keep an eye on considering urban office markets going forward. As land values in urban areas skyrocket bc of the influx of residential demand businesses with a bottom line to meet have to make decisions about where they locate. Stockholders want to see strong profits and want their dividend, they could care less if UP is being a strong corporate citizen in Omaha. I wouldn't be surprised to see some interesting reverse commuting issues as the years pass.

Vancouver is actually really focused on business in their core bc their daytime population either drops or stays stagnant(I don't remember specifics) where Omaha's DT daytime population is vastly larger than the night time. They have a ton of people living in the core but so many jobs are on the fringe.

Hopefully in 20-30 years we will have added to the number of businesses locating downtown, as well as adding more residential. Not just converting old office space to residential and/or shifting existing businesses around to the newest buildings. Growth is the word I'm looking for.

I could be mistaken, but I believe the rents/leases paid by businesses are typically more than residential rates would be for the same amount of space, so a developer would rather develop a building for office or retail if they could. I agree DT Omaha will become more of a 24/7 district once we have more of an mix of residential with office down there. I just hope we don't lose more office in the process. I agree reverse commuting will become more common.

I should add that sometimes the design of a building becomes obsolete for the type of use it was originally designed. The old warehouses being converted to lofts is a good example. I suppose it could become possible that the Landmark building becomes obsolete for office use if work patterns change such that businesses don't need that type of space. Residential can typically adapt to almost any type of building...the old power plant conversion on Leavenworth down by the river is another example.

I honestly have mixed feelings for the 1200 Landmark Center. When it was first announced and built around 1988-1989, I was so glad to see Omaha get a glassy blue & shiny office building. I liked it. In the evening light, when strolling in Gene Leahy Mall, it is pretty as it turns a silvery color, I like the lines on the glass, and it kind of looks dramatic to me w/ a row of lighted peaks at the top. I like the silver pillars at the base. I enjoy it up close.

But, approaching Omaha from Iowa, and from set a way's back at a distant vantage point, I don't like the look of it all that well. It's like this simple & very blue & featureless "square glass box with triangles" on the Omaha skyline. It's hard to describe what I mean. It's just highrise architecture way too simple & elementary and not quite thoughtful enough for my taste -- or something. It's not that I hate it or anything, though. I like it better than the concrete 1979 telephone building.

I did research on who designed the 1200 Landmark Center, and it was a Chicago-based firm (that has a lot of great work in their portfolio, btw). Perhaps they didn't have a "feel" for Omaha, when they designed it, being outsiders. (However, I feel some outsider architects, like Cesar Pelli, can come in and design a building that capturea the "spirit of the town.") That's partly why it is not my favorite. It doesn't seem to really pay homage to anything***, it doesn't "feel like Omaha" to me, it doesn't feel like it really means anything. It's just a shiny, blue glass box with triangles at the top standing there offering office space for lease (to me).

***Across the mall, if you look at the telephone building straight-on, it is basically a box with snipped, angled corners at the top. The Landmark Center is similar. So, that's the only connection to Omaha I can make.

New owners see a shiny future for downtown Omaha 'gem' Landmark tower

Omaha’s Stinson Leonard Street law firm just finished its move into new space atop the 15-story Landmark tower, a spot that offers its 20-person crew some of the best unobstructed views of a changing Missouri riverfront.

Meanwhile, one floor below, 75 creative types at Bailey Lauerman advertising have been in their new digs long enough for a living plant wall to start maturing and to break in a war room where winning pitches are born.

Itself a heavy-hitter in the office market, the Landmark contains about 270,000 square feet of office area, about 20,000 square feet of retail and restaurant areas, and a 531-stall garage — putting it among the top 10 of the city’s largest multi-tenant general office structures not occupied by its owner.

The purchase price from Houston-based Vereit would be about $19 million, Fisher said, and further investment could reach between $6 million and $15 million. Vereit declined to comment.

Fresh ownership would come at a pivotal time, as the overall downtown office occupancy rate has dropped to about 86 percent, from about 90 percent in 2015 and 92 percent the year before.

A priority for the new ownership group, Fisher said, is to better connect the structure to neighboring tourist magnets: the Old Market and Gene Leahy Mall. That could mean filling Harney and Farnam Street courtyards with features and retailers that help “activate” the sidewalks and beckon visitors to the Landmark.

skinzfan23 wrote:New owners see a shiny future for downtown Omaha 'gem' Landmark tower

Omaha’s Stinson Leonard Street law firm just finished its move into new space atop the 15-story Landmark tower, a spot that offers its 20-person crew some of the best unobstructed views of a changing Missouri riverfront.

Meanwhile, one floor below, 75 creative types at Bailey Lauerman advertising have been in their new digs long enough for a living plant wall to start maturing and to break in a war room where winning pitches are born.

Itself a heavy-hitter in the office market, the Landmark contains about 270,000 square feet of office area, about 20,000 square feet of retail and restaurant areas, and a 531-stall garage — putting it among the top 10 of the city’s largest multi-tenant general office structures not occupied by its owner.

The purchase price from Houston-based Vereit would be about $19 million, Fisher said, and further investment could reach between $6 million and $15 million. Vereit declined to comment.

Fresh ownership would come at a pivotal time, as the overall downtown office occupancy rate has dropped to about 86 percent, from about 90 percent in 2015 and 92 percent the year before.

A priority for the new ownership group, Fisher said, is to better connect the structure to neighboring tourist magnets: the Old Market and Gene Leahy Mall. That could mean filling Harney and Farnam Street courtyards with features and retailers that help “activate” the sidewalks and beckon visitors to the Landmark.

It's a little disheartening that no realtor interviewed could think of a company that moved downtown from the suburbs.