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The Minneapolis-based aggregation that’s redeveloping the bend of 48th and Holdrege streets has fabricated addition advance in Lincoln.

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Schafer Richardson, which is partnering with Lincoln’s Greenleaf Properties to body 98 apartments and retail amplitude on the above armpit of Tastee Inn & Out and Murphy’s Q.P., partnered with addition Minneapolis-based article to buy The Edge architecture at 56th Street and Nebraska 2.

According to absolute acreage alteration abstracts filed two weeks ago, the acquirement amount for the 110,000-square-foot architecture was $10.4 million. Schafer Richardson owns 51 percent of the building, with a aggregation alleged Sangiovese Interest LLC owning the added 49 percent.

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The auction amount is about bristles times what the antecedent owners paid for the architecture back they bought it out of foreclosure bristles years ago.

Then, it was a rundown, about abandoned above Kmart building. Now, afterwards several actor dollars of renovations, it is a modern-looking, mixed-use building.

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The architecture is absolutely leased, with Rod Kush’s 7 Day Furniture, Gallup, Nebraska Title Co. and the Paul Mitchell School as tenants.

“The antecedent owners did an aberrant job axis what was an anachronistic allotment of absolute acreage into a modern, Class A property, again admiring a assorted mix of high-quality tenants,” said Evan Richardson, administrator of basic markets for Schafer Richardson.

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The building, which was congenital in 1994, housed Kmart until the aggregation bankrupt its Lincoln food in 2003. It sat abandoned until 2009, back the appliance abundance opened.

BCLinc LLC, a aggregation formed by two Sampson Construction executives, bought it out of foreclosure in 2011 and did all-encompassing adjustment to board Gallup, which confused there in December 2011. Nebraska Title and the Paul Mitchell School followed in 2014.

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Richardson said Greenleaf Properties will administer the building.

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