The Lerner Company Announces Construction to Begin on NorthStar Crossing Retail Center
The Lerner Company (www.lernerco.com) has announced that construction is set to commence on NorthStar Crossing, a large retail and commercial development located at 27th and Folkways Boulevard in Lincoln. The site fronts on 27th Street, immediately in front of North Star High School. The project occupies fifty acres and will ultimately include up to a half million square feet of commercial space.
Jay R. Lerner, president of The Lerner Company, said “It has been almost 30 years since we opened the very successful Lincoln Crossing Shopping Center at 27th and Superior Street in Lincoln. In 2020, Lincoln Crossing was ranked the No. 1 shopping center for customer traffic in the State of Nebraska. Located only one block north of Lincoln Crossing, this site has been sitting vacant for the past 30 years. When fully developed, it is likely to provide the city with $50 million annually in taxable sales, $100 million in additional property tax valuation, and over 1,000 new employment opportunities.”
The estimated 2020 three-mile trade area included over 26,000 households with a total population of just under 65,000. Projected population growth will increase the trade area population to nearly 70,000 in the year 2025.
The Lincoln Planning Department approved the Administrative Amendment to the Use Permit on January 8, 2021 to allow for the project to proceed. The first tenants are expected to open in early 2022. Negotiations are currently underway with numerous national, regional, and local retailers, which will locate or relocate to NorthStar Crossing.
The Lerner Company, celebrating its 35th anniversary, is a commercial real estate company. Serving a five state area, they specialize in the retail marketplace, offering full-services including tenant representation, brokerage, property management, investment sales, and development. Learn more online at www.lernerco.com.