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JLL-Poag partnership lands its first ground-up development

Al Urbanski
Avenue One will be centered by 600,000 sq. ft. of retail space.
The under-construction Avenue One is billed as "Omaha's Newest Epicenter."

Last year, Poag Shopping Centers entered into an agreement with JLL that would allow CEO Josh Poag to focus on what he considered the company’s chief asset—development expertise. Now the partnership has landed its first ground-up project.

Poag and JLL have announced that they will help bring to life a 200-acre mixed-use property in Omaha that has been 20 years in the making—Jasper Stone Partners’ Avenue One project on 192nd Street and West Dodge Road, about halfway between Boys Town and the Platte River.

Jasper Stone bills Avenue One as “Omaha’s Newest Epicenter” on the city’s main east-west corridor. It will situate more than 1,500 apartments and town homes and 785,000-sq.-ft. of office space across from the Lawrence Youngman Lake and Park.

More than 600,000 sq. ft. of retail and entertainment are in the blueprints. JLL’s retail property management leasing team will be the leasing agent and Poag will provide the development services.

“Omaha is a dynamic, growing metropolis with a diverse economic base, and we expect to develop a mixed-use project with great placemaking and vibrancy,” said Poag. “Jasper Stone is a longtime leading residential developer in Omaha that has been waiting for the right opportunity to deliver such a wonderful development and we are excited to be able to partner with them.”

Jasper Stone broke ground on Avenue One three years ago, setting out to turn 50 blocks-worth of farmland into what it calls “The Western Gateway to Omaha.”

“We believe Omaha is the best city in the country and we have a burden to bring to fruition a vision that our investors have had since we first bought the ground 20 years ago,” said Jasper Stone’s president and CEO Curt Hofer. “With JLL and Poag’s partnership, we believe we can bring that vision to life with a high-end, activated, and curated retail development that meets Omaha’s needs and wishes.”

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