Cornhusker MUD On Block Via Jones Lang LaSalle

LINCOLN, NE— Jones Lang LaSalle Hotels is marketing the sale of Cornhusker Square here on behalf of Cornhusker Square L.P., an affiliate of Castle & Cooke. The mixed-use development is composed of The Cornhusker Hotel, a 10-story, 290-room upscale and full-service hotel with 46,000 square feet of meeting space, and Cornhusker Plaza, an 86,000-square-foot, Class-A office building. According to Arthur Buser, managing director and head of West Coast operations for Jones Lang LaSalle Hotels, “The property will continue to benefit from its central location near the University of Nebraska, various federal and state governmental agencies, banking and insurance companies and other longstanding businesses. As witnessed by the 15-plus bids received for our marketing of the Omni Orrington near Northwestern University, investors have expressed a strong buy sentiment for cities anchored by major universities. We expect similar interest in this asset.” The Cornhusker Hotel originally opened in 1926 and was completely rebuilt in 1983 at a cost of approximately $34 million. It offers two restaurants, including the Terrace Grille; a gift shop; indoor pool; fitness center; and other amenities. The Burnham Yates Conference Center opened in 1994, following a nearly $4 million renovation, providing flexible meeting space adjacent to The Cornhusker Hotel.