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Miracle Hills office buildings sold for $17 million; will welcome Scooter's HQ and others

Miracle Hills office buildings sold for $17 million; will welcome Scooter's HQ and others

Miracle Hills

The Miracle Hills corporate center has sold by Intrado Corp. to Lockwood Development. Intrado plans to occupy just one of the two buildings now. The other will lease to companies including Scooter’s Coffee, which will move its headquarters to a top floor of 11808 Miracle Hills Drive.

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Locally grown Scooter’s Coffee is expanding and relocating its corporate headquarters to a west Omaha office park.

The move to the top floor of 11808 Miracle Hills Drive — scheduled to take place next summer after space is renovated — is tied to notable changes for two other companies with deep roots in the Omaha area.

Here’s the scoop:

Scooter’s will have Omaha’s Lockwood Development as its landlord, as Lockwood recently bought the nearly 100,000-square-foot building, along with the neighboring nearly 150,000-square-foot office building at 11650 Miracle Hills Drive, and a parking garage with more than 900 stalls.

Lockwood bought the properties for about $17 million from Intrado, formerly known as West Corp. Intrado has been the sole occupant of both office structures, but, in a footprint-reducing move, its operations will be focused in the 11650 building it now rents from Lockwood.

West Corp. was founded in Omaha in 1986 as a telemarketer and over the years diversified into a telecommunications service company. In 2017, the private equity firm Apollo Global Management bought the company, and West was renamed Intrado in summer 2019.

While Intrado might retain a small presence in the 11808 structure, the building largely will be leased to other companies. That includes Scooter’s, which will occupy about 27,000 square feet, said Steve Sheppard of Omaha’s CBRE, who represented Intrado in the sale along with colleague Seth Campbell.

Lockwood’s purchase of the Miracle Hills properties comes on the heels of another huge real estate acquisition. Lockwood this summer bought One Valmont Plaza, which is near 140th Street and West Dodge Road. It sold for nearly $27 million.

Sheppard, who is helping to find new occupants for the nearly 175,000-square-foot plaza space, said Retire Smart has moved into about 18,000 square feet. Valmont Industries vacated the plaza when it moved its headquarters across the street to the developing Heartwood Preserve site.

Lockwood owner and president Chip James said his company’s recent office purchases reflect his belief that the local office market will rebound after suffering blows during the COVID-19 pandemic.

“We have real confidence in the office market and its future,” said James.

Lockwood was established in Omaha in 2002. Among the real estate company’s other local projects are the ongoing rebuilding of the Crossroads Mall site at 72nd and Dodge Streets; the Sterling Ridge redevelopment site at 132nd and Pacific; and the recent purchase of the Omaha-founded Little King chain.

As for the Scooter’s Coffee corporate move to Miracle Hills, it comes as the company’s growth trajectory anticipates increasing the number of stores from 400 in 30 states to about 1,000 stores nationwide within three years.

“We’re super excited about the location, the building and being able to expand our presence in Omaha,” said Greg Hand, chief financial officer of Scooter’s.

Founded locally in 1998, the Scooter’s name on its new headquarters will be visible to motorists traveling the West Dodge Expressway.

The current Scooter’s national base at 10500 Sapp Brothers Drive is to remain a company warehouse with offices.

Hand said popularity of coffee escalated some 15 years ago with specialty coffees and flavors. The latest trend, he said, is cold brews with cold foam on top and nitros.

Scooter’s also serves smoothies, breakfast burritos, muffins and cinnamon rolls.

“It really is a cultural phenomenon,” he said of coffee. “It’s part of people’s everyday routine.”

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Reporter - Money

Cindy covers housing, commercial real estate development and more for The World-Herald. Follow her on Twitter @cgonzalez_owh. Phone: 402-444-1224.

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