JLL and Poag selected for Avenue One mixed-use development project in Omaha
Under the strategic partnership, JLL will assume leasing and Poag Development Group will assume development work
OMAHA, Sept. 20, 2023 – JLL announced today that it has secured Avenue One in Omaha, Neb., as part of the mixed-use development and management strategic partnership with Poag Development Group. Avenue One, owned by Jasper Stone Partners, is 200 acres of mixed-use development and will be the first ground up development under JLL and Poag Development Group since announcing their strategic partnership in August of 2022. For Avenue One, JLL’s Retail Property Management specialized leasing team will be the leasing agent and Poag will provide the development services.
“We are excited to add this mixed-use project to our strategic partnership with Poag,” said Paul Chase, Managing Director, Agency Leasing, Retail Property Management, JLL. “The Avenue One project allows our team to bring expertise to a mixed-use destination – offering Omaha a community with a lot of new-to-market and sought-out retailers that consumers are demanding.”
Avenue One is more than 20 years in the making and is the vision of Jasper Stone Partners. Jasper Stone Partners, a boutique private real estate investment firm, envisions Avenue One to be a special place to draw people from all over Omaha to 192nd Street and West Dodge Road and serve as Omaha’s “Western Gateway.” The development will feature a business park, shops, restaurants, hotels, apartments and 6 miles of walking trails. JLL and Poag’s strategic partnership will bring the vision of this mixed-use property to life.
“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 Josh Poag, President and CEO, Poag Development Group. “We are partnering with Jasper Stone, a long time, leading residential developer in Omaha who has been waiting for the right opportunity to deliver such a wonderful development and we are excited to be able to partner with them to help fulfil their vision.”
JLL is the largest third-party retail property management company in North America. Under the strategic partnership, the company will partner with Poag on all operations and leasing functions. The future of retail is headed towards mixed-use properties, and together JLL and Poag will integrate their services to develop projects across the U.S.
“Omaha is our home, and it has been for 40+ years. We believe it 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 Curt Hofer, President and CEO, Jasper Stone Partners. “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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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Poag
Over three decades ago, Dan Poag with then business partner Terry McEwen founded the predecessor to today’s Poag Development Group, Poag & McEwen Lifestyle Centers, LLC and coined the term “lifestyle center” to describe what is now the most in-demand retail real estate design. From creating engaging and experiential environments, to understanding the way retail elements connect to residential, office and other uses, Poag’s signature ability to translate small details into big experiences creates spaces and places that resonate with comfort, convenience and connectivity.
About Jasper Stone Partners
Jasper Stone Partners was founded in 2007 as a boutique, private real estate investment firm to source and manage real estate investment opportunities for high-net-worth families and partnerships. One sector that brought significant long-term opportunities for our partners has been direct investment in strategically located raw ground in key development corridors. A patient, long-term approach has enabled our team to engage in commercial development activity on some of the most sought-after locations in Omaha, Nebraska.