GRETNA- Around 170 acres of farmland by the Nebraska Crossing Outlet Mall will turn into Omaha's largest contiguous industrial park. NewStreet Properties, the company developing the new industrial park, believes the new project will lure investments of up to $190 million.

The new site will be called Gretna Logistics Park, and the construction of a 400,000-square-foot warehouse will be the first project undertaken by the developer. Tenants for the warehouse have yet to be secured.

However, NewStreet Properties also plans on building a 300,000-square-foot office building, which they believe will employ up to 200 workers. The tenant of this building has been decided by NewStreet, but the construction company has yet to release the name of the new employer since the sale is still being finalized.

Peter Frei, vice president of investments for NewStreet, believes that the new land could fit almost 2 million square feet of industrial and warehouse building space. He also stated that this new project in Gretna will help quell the strong demand for industrial projects.

Despite this, Frei also voiced his concerns about an industrial project of this size and the disastrous effects of Covid-19 on construction projects. "We think the tailwinds that the industrial market has been experiencing, and that have been exacerbated by COVID, will continue," Frei stated.

The first warehouse is slated to be finished by the end of 2023, and Frei believes that once they actually start building, they'll begin receiving applications from potential tenants.

Frei wanted the project to be built close enough to Omaha because he claims the city lacks any sizable industrial projects. Many of the current projects are happening in Papillion, so Frei chose the location to better suit the city of Omaha.

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