Cargill - Blair, NE

1705 Kellie Drive, Blair, NE, 68008, US

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant Cargill office building (the “Property” or “Asset”) located in Blair, NE within the greater Omaha MSA. Cargill (the “Tenant”) has occupied the property since its delivery in 2009 and recently extended its lease by 10 years through 2034. The lease features annual 2.50% rent escalations and minimal landlord responsibilities.

The Property is the primary office for Cargill Branded Feed, a core segment of Cargill Starches, Sweeteners, and Texturizers (CSST). Cargill Branded Feed creates proprietary feed ingredients to improve digestive health and performance for production animals in the beef, dairy and aquaculture markets. The segment operates out of Blair, NE, which is also the location of Cargill’s flagship wet corn mill – a 650-acre facility that employes 540 people and has a daily grind of 340,000 bushels of corn. The Tenant strategically selected this location for its regional HQ due to its proximity to the mill. Cargill is a global supplier of agriculture commodities. It is the largest privately held company in the United States by revenue and carries an “A” credit rating from S&P.

In addition to this location, Cargill also operates its flagship wet corn mill in Blair, a 650-acre factory that employs 540 people and produces 340,000 bushels of corn daily. Several other corporations operate near the site including Purac, NatureWorks and Novozymes, a global biotech producer which recently invested $316 million into a new production facility.

Centrally located in the United States, Omaha is home to several Fortune 500 companies including Berkshire Hathaway and Union Pacific. Nebraska is one of the largest providers of agriculture commodities in the United States, making this an optimal location for Cargill’s operations.Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant Cargill office building (the “Property” or “Asset”) located in Blair, NE within the greater Omaha MSA. Cargill (the “Tenant”) has occupied the property since its delivery in 2009 and recently extended its lease by 10 years through 2034. The lease features annual 2.50% rent escalations and minimal landlord responsibilities.

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Attributes

Building area net

2,787 sm

Occupancy

100%

Year built

2009

Land area gross

3.93 ha

WAULT

9.7 years

Media

Investment highlights

Cargill is a global supplier of agriculture commodities. It is the largest privately held company in the United States by annual revenue ($160 billion) and carries an “A” credit rating from S&P. In addition to agriculture products and services, Cargill operates a diversified portfolio of segments including animal nutrition, financial services and pharmaceutical products & supplements. The business operates in more than 70 countries worldwide and employs roughly 160,000 people. A market leader, Cargill handles roughly 25% of all US grain exports and supplies 22% of the US domestic meat market.

This Property serves as the primary office for Cargill Branded Feed, a core segment of Cargill Starches, Sweeteners, and Texturizers (CSST). This segment is a unique business that uses strategic logistic partnerships and systems to ship over 3 million tons of proprietary feed and feed ingredients to the largest beef feedyards and dairies in the US, as well as aquaculture feed manufacturers in 17 countries. The Company operates through various brands including Sweet Bran, Ramp, OneTrak, Empyreal 75 and Motiv. In 2024, Cargill extended its lease term at the Property for an additional 10-years, demonstrating its long-term commitment to this location. Additionally, Cargill’s commitment to this market is reaffirmed by its state-of-the-art, flagship wet corn mill.

Agriculture production contributes more than $25 billion to Nebraska’s economy each year, solidifying the state as one of the top producers globally. In 2024, 19.5 million acres of crops were planted in Nebraska. In addition to crops, Nebraska is a major player in beef production. Known as the “Beef State”, the state produced nearly 8 billion pounds of red meat in 2024. The state’s strong agriculture infrastructure, leading agricultural research institutions, irrigation systems, and well-equipped climate range all factor into Nebraska being a leader in agriculture production.

The Tenant’s recent 10-year extension exemplifies the Tenant’s commitment to the Property and features annual rent growth of 2.50%, providing investors with a strong hedge against inflation. The lease’s structure also includes minimal landlord responsibilities and a 5-year renewal option. In 2015 the roof underwent a full replacement.