Iowa-Based R&R Realty Group
Plans Expansion into Omaha Market
WEST DES MOINES, Iowa (August 12, 2013)—R&R Realty Group, one of the Midwest’s top owners of commercial real estate, and Iowa’s largest, announced today that it has submitted plans to develop an office park in Omaha, Neb. The proposed Fountain West Office Park, located in West Omaha, will be located on a 40-acre campus at North 192nd Street and West Dodge Road. The $75M - $100M project will ultimately contain up to eight multi-story buildings totaling approximately 540,000 square feet. Construction of a 75,000 square foot, class A office building is planned to begin in spring 2014 and available for occupancy in the spring of 2015.
“R&R Realty has been committed to expanding into the Omaha market for some time,” said Mark Rupprecht, president of R&R Realty. “Omaha is a dynamic community with a healthy economy, and with the proximity to our other properties it will be a natural fit for our company. It was important for us to know that the leaders of the City of Omaha are strong supporters of economic development. We’re confident that the combination of this premier location with technology, expansion capabilities and shared amenities with a single owner that make our Class-A office park concept unique will be attractive to area business leaders.”
R&R Realty, along with its partner Howard Hawks, have submitted plans to the Omaha City Council to seek approval for the development at the outlined location. Once the plans are approved, R&R Realty will move forward in purchasing the land and developing the proposed office park. West Dodge Road, one of the fastest growing areas in the Omaha metro, has easy access to major routes and a need for additional office space.
“I am pleased to be a partner with R&R Realty Group in developing their office park concept here in Omaha. As a strong community supporter and liaison, I think that R&R brings a product that will complement the corporate office parks on West Dodge. This is an exciting opportunity to provide class A office space that is needed in a prime location, and I look forward to being a part of the process moving forward,” said Howard Hawks, project partner, chairman of Tenaska Energy, Inc.
“We worked closely with former U.S. Senator David Karnes on this location and look forward to developing strong relationships with both civic and business leaders in the Omaha market,” said Rupprecht. “Our company is committed to becoming a long-term community partner, and to providing exceptional value and customer service. We are excited about expanding that model in Omaha.”
R&R Realty Group is Iowa’s premier full-service real estate company with development, brokerage, construction, property management, technology services, capital management and acquisitions. Founded in 1985, R&R is one of the largest commercial real estate companies in the Midwest, owning and managing over 6 million square feet. The company remains family owned.