RED Development Nebraska 'case study'

[eomaha]

RED Development, LLC in Nebraska
Case Study

Since 1998, RED Development, LLC has developed or re-developed more than 1.2 million square feet of retail and restaurant space in the state of Nebraska. With plans for another 900,000 square feet currently underway, RED Development will have developed more square feet of retail (2.1 million) than there are people in the state (1.7 million) by the end of 2006. Of the nine major shopping centers in the Omaha-Lincoln metro areas, RED Development’s three existing projects already represent nearly 30 percent of the combined gross leasable area.

So one might wonder, what’s the attraction to Nebraska for a company that’s co-headquartered in Scottsdale, Ariz., and Kansas City, Mo.? For starters, three of the six partners from RED Development are Nebraska natives, so there is a familiarity with the area. Secondly, and more importantly, Nebraska’s two main metro areas, Omaha and Lincoln, have been growing steadily during the past decade but retail offerings weren’t keeping pace. This has created a demand that retailers can’t ignore. Third, RED has been fortunate to work with strong, local partners who know the market.

This combination has brought the state an amazing line-up of stores and restaurants that previously could only be found in larger metro areas, through catalogs or online. Since 2003, RED Development has opened 13 stores that are firsts to Nebraska and will open 11 restaurants in Omaha alone that are new to the state. Among the first-time tenants enjoying success at RED’s projects are Pottery Barn, DSW, Z Gallerie, Coldwater Creek, Ann Taylor Loft, White House | Black Market, Kona Grill, Cheeseburger in Paradise, Fleming’s and Paradise Bakery.

More is sure to come as work starts spring 2005 on Papillion Promenade. Located in Sarpy County – the fastest growing county in Nebraska and Western Iowa – this project is generating high interest from a number of national tenants looking to complete their market plans or to join one of the Midwest’s most underserved retail markets.

[DTO Luv]

I'm guessing that story didn't come from the OWH.

That's cool. Do they ever do retail in DT areas? That be a big plus down the line.

[Omaha Cowboy]

That is a very informative piece that shines a positive light on the growing retail enviornment in the Omaha/Lincoln area..

Definitely NOT written by the Weird-Herald..

..Ciao..LiO....Peace

[MTO]

Yeah, I remember reading a wile ago in the Omaha paper that the Omaha area was saturated with retail and couldn’t support another large mall for another 20 years. Guess they where wrong. I hope Red is drawing up plans for the Upper Market as we speak.

[projectman]

Very nice news. I wonder if this will help jump start our stagnant employment growth. It should help I would think.

[MTO]

Wait just a sec, did the Omaha paper say our job growth was stalled. Or was it some other more respectable and less biased entity.

[nativeomahan]

Wait just a sec, did the Omaha paper say our job growth was stalled. Or was it some other more respectable and less biased entity.

Defending the World-Herald could ruin my reputation...but, I don't think they made up the statistics. I believe they came from the Department of Labor.

[TitosBuritoBarn]

It may be of interest to note that this article is linked from the RED Devlopment homepage by a big button labeled "Nebraska Projects." Despite the fact that they have done more work in the Kansas City and Phoenix areas, it is our state that gets its own "projects page."

[eomaha]

I'll put on my devils advocate hat and say, hopefully inaccurately, that perhaps it is because Nebraska needs more exposure.