NAI FMA Realty brokered an office investment sale in Lincoln, Nebraska, for $19.2 million. Ernst Capital Group, a private equity firm in Sioux Falls, South Dakota, purchased the Center on N in downtown Lincoln.
NAI FMA senior associate broker Chris Vasek represented the seller, 1221 Tower, LLC.
The Class-A property consists of three-quarters of a block on 12th and N streets totaling 228,145 rentable square feet. The Center on N underwent significant capital improvements from 2014 to 2017, and is now 91 percent leased. Great Western Bank is the building’s anchor tenant.
Other tenants include Davis Design, the state of Nebraska, Resource Pro and New York Life.
