Weekly Market Report – September 19, 2024

Nicole Buntgen, Contributing Writer

First Watch will open another Omaha location October 14th at 248 North 144th Street in Heartwood Preserve, the 500-acre, mixed-use development west of Boys Town. The breakfast-and-lunch restaurant will be in a new retail strip that currently has a Little King restaurant on the opposite end. Based in Bradenton, Fla., First Watch has six existing Nebraska locations, all of them in the Omaha area.

Bad Seed Coffee & Supply has opened a second location at 5015 Dodge Street, next to Felius Cat Café. The original shop, which opened in 2014 at 2452 Harney Street, is known for its specialty coffee and in-house plant shop.

Dave’s Hot Chicken has leased the former Voodoo Taco space near 180th & West Center Road. The 4,088 sq. ft. building has been a veritable revolving door of restaurants opening and closing. Dave’s Hot Chicken is a chain of Nashville-style chicken restaurants that started in the Los Angeles Area. An existing Omaha location operates at 335 North Saddle Creek Road.

Iowa-based Keg Creek Brewing will soon move to 17 North Vine Street Glenwood, Iowa, taking over the former Vine Street Cellars space. Tentative reopening is set for early October. The brewery plans to focus on smaller batch production at its new location.

BobaFi opened today at 3838 North 168th Street. That’s in a retail strip near a Wal-Mart super store northwest of 168th & West Maple Road. The franchise sells bubble tea. It is owned by Brain Tune Café, which has existing Thirstea franchise locations in California and soon in Texas and New Jersey.

Cedar Creek Coffee & Art has leased a space in Olde Town Elkhorn and plans to open in the spring of 2025. The company has been operating out of a 1963 step van. The new coffee shop will include an art gallery with an emphasis on local artists including students.

Starting this weekend, Mula, a popular Mexican street food spot in Blackstone, will reintroduce its brunch menu every Saturday. The restaurant, located at 3932 Farnam Street, last served brunch more than four years ago.

SweetBeans Coffee plans to open in late October at 18960 Edna Street, which is southeast of 192nd & Harrison Street. The locally owned business will include a coffeehouse and roasting company.

Nebraska’s first Lego store opens at 10 a.m. tomorrow at Nebraska Crossing. The 2,131 sq. ft. store is located just east of Vineyard Vines. The Grow Omaha radio show will broadcast live from the new store this Saturday at 9 a.m.

Goodwill will open its 16th metro-area location at 18905 Evans Street in Elkhorn, with a ribbon cutting on October 10th. The organization employs over 700 people in Omaha and offers job placement and career readiness programs for those seeking employment or career advancement.

Dog Gone Problems, a dog training and play care facility, is set to open September 20th at 13483 West Center Road, just off 132nd & Center in Baker Square. The business specializes in positive dog behavior training and spent 13 years subletting space and training in homes before branching off into its own facility.

Could Nebraska be home to the next Whopper? Burger King’s Million Dollar Whopper Contest, which launched in February, received over a million submissions and is down to three finalists—with one from Nebraska. The Mexican Street Corn Whopper, created by Kelsie of Nebraska, features a grilled beef patty, street corn spread, lettuce, tomato, Southwest-seasoned tortilla strips, and Mexican spicy queso on a sesame seed bun. The other two finalists are from California. All three sandwiches will be available at select locations in November, where customers can vote for a $1 million winner.

Not sure where to go? Grow Omaha has partnered with local marketing expert Cam Vacek to bring a very useful restaurant resource to our readers. Before you go out, check our lists of Daily Restaurant Specials, Happy Hours, Party Rooms and local Coffee Shops. We even have a list of birthday party ideas!

The “Restaurant & Retail Updates” section is sponsored by Anderson Convenience Market, featuring Quality AMOCO Fuels and serving Omaha since 1952, and proud to announce the return of Quality Amoco Fuels. Look for changes this Summer at Anderson Convenience Market – 8 Omaha area locations!

Learn more about Anderson Convenience market at www.Anderson1952.com

Upscale Residential Neighborhood Planned for Heartwood Preserve

Applied Underwriters, master developer of the 500-acre Heartwood Preserve mixed-use development, has announced a new upscale neighborhood: The Arbour at Heartwood Preserve. The official groundbreaking takes place late this month.

The residential neighborhood will be north of Pacific Street and west of Millard North High School. The project will include row houses, single-family houses and duplexes. When living units are completed, residents will be able to walk to the future Heartwood Row, a street of offices and shops just to the northeast.

Residents will also have access to a linear park and green-space area along the western portion of Heartwood Preserve.

The Arbour at Heartwood Preserve will feature:

Luxury Row Houses – High-end, fully customized brownstone-type living row houses. Buyers can select attached units with either front or urban access garages, and opt to include roof top decks and/or elevators.

Single-Family Homes – These houses “offer the convenience of an urban lifestyle with the comfort of single-family living.” Buyers will have the option of purchasing a predesigned floor plan, designing a complete custom home or building something in between.

Dual-Family Homes – These street-facing duplexes will feature well-appointed finishes and front porches, with options for single-level living.

Builders are the newly-formed Arbour Building Group and include Greg Frazell of G. Lee Homes, Matt Caniglia of Silverthorn Custom Homes and Jon Henne of Meco-Henne Contracting.

The new neighborhood is far from the only construction taking place in Heartwood Preserve.

As part of Heartwood Row, dirt work is underway on Olsson’s 4-story, office building that will house the engineering company’s 300 Omaha-area employees.

Immediately to the north of Millard North High School, Broadmoor is building apartments that will surround a new parking garage that has already been constructed. South of Pacific Street, work continues on Applied Underwriters headquarters building.

Further north, Heartwood Preserve is already home to Valmont’s headquarters building, Mahogany Prime Steakhouse and Charleston’s restaurant as well as several other office and retail buildings.

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Isaiah Ang, Contributing Writer

The Omaha Airport Authority approved a slate of concessionaire and retailer leases as part of Eppley Airfield’s $950 million terminal modernization project. New dining options include local favorites Block 16, Fernando’s, Runza, Scooters and Pitch Pizzeria plus national chains Starbucks Coffee and Panda Express. National retailers include Hudson News and iPorte, while a retailer named Uniquely Omaha will offer locally made products for travelers.

In total, Eppley will boast 19 different food and retail options, with all but a few located after the consolidated security gate. A new concession map can be found HERE, with brands, including locally made products that will be featured at the airport, found HERE.

Creighton University broke ground on a new sophomore residential hall on the southeast corner of 21st & Cuming Street, across the street from the dental school. The 5-story, 151,000 sq. ft. building will house 400 students. The university has made significant changes to its downtown campus in recent years, including the demolition of aged structures as well as the construction of a new residence hall for freshman and the Jesuit residence. The new sophomore residential hall is expected to be completed by 2026.

The future Boho Flats project is now mostly enclosed at the northwest corner of 13th & Pine Street in Little Bohemia. When completed next year, the 4-story building will have 59 apartments and 5,000 sq. ft. of retail space. The new building is going up on the former Ethnic Sandwich Shop building site. The developer is Sage Capital.

Construction is now underway on Olsson’s 4-story office building at Heartwood Preserve, the 500-acre, mixed-use development southwest of 144th & West Dodge Road. The building will be the first anchor of Lanoha Development’s Heartwood Row project. Olsson, an engineering firm, will have its Omaha-area offices on the upper floors, while the ground level will be retail.

A $750,000 grant from Save America’s Treasures program will help Omaha’s Durham Museum replace its worn-out roof, according to the Omaha World-Herald. The total project cost is $1.8 million.

Livability ranked Omaha at #19 on its list of Top 25 Best Places to Live in the Midwest for 2024. Omaha was by far the largest city on the list. Most winners were suburbs or small cities.

The Neonatal Intensive Care Unit at Children’s Nebraska has received a Gold-Level Beacon Award for Excellence from the American Association of Critical-Care Nurses, distinguishing the unit’s exceptional patient care and healthy work environments. It is one of just 13 NICUs nationwide to achieve the honor. Children’s operates the only Level IV NICU in Nebraska.

Grow Omaha Snippets are brought to you by Omaha Car Care with four metro area locations – 131st & Dodge, 58th & Center, 85th & L and 144th & Harrison.

Omaha Car Care “We’ll be along for the ride.”

Centris Federal Credit Union held a groundbreaking ceremony last week for its future branch at 6572 Ames Avenue. On the same day, workers began demolishing a small one-story building to make way for the project. The new branch office will replace Centris’ existing branch at 48th & Ames and should open in late 2025.

Lighthouse Autism Center this week opened a new location at 6420 South 193rd Avenue. Lighthouse is currently the largest Applied Behavior Analysis therapy provider in Indiana with a network of locations across Indiana, Michigan, Illinois, Iowa and Nebraska. Omaha Autism Center will be Lighthouse’s third center in the state of Nebraska. The Omaha center is now enrolling and will provide autism services to 25 families and create more than 35 new jobs.

The state of Connecticut has modernized its elections infrastructure through the purchase of a new, paper-based election system from Omaha-based Election Systems & Software. The agreement represents the state’s first equipment upgrade in nearly 20 years and will include more than 2,700 state-of-the-art tabulators.

Scoular will kick off operations in October at its new canola and soybean oilseed crush facility in Goodland, Kan. The Omaha-based company celebrated the completion of the project with a ribbon-cutting this week. The facility, which sits on 150 acres, can crush 1,000 metric tons of oilseeds per day and 11 million bushels annually.

Union Pacific Railroad’s Community Ties Giving Program awarded more than $5.2 million in local grants to 487 nonprofit organizations located in communities across the railroad’s 23-state network. The grants, which range between $5,000 to $30,000, help create safer neighborhoods, expose students to future careers, revitalize parks and promote environmental initiatives.

Flood Communications is the Greater Omaha Chamber’s business of the month for September. The largest owner of broadcast stations in Nebraska, Flood Communications now has 26 radio and television stations that reach the entire state of Nebraska. The company employs 200 full- and part-time employees working at 11 offices across Nebraska. Properties include Telemundo Nebraska and News Channel Nebraska.

For a 13th straight month, Creighton University’s Rural Mainstreet Index sank below growth neutral, according to the September survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. The region’s overall reading for September sank to 37.5 from 40.9 in August. It was the lowest reading since the beginning of the pandemic in spring 2020. The index ranges between 0 and 100, with a reading of 50.0 that represents growth neutral.

Tupperware, the iconic food storage brand, has filed for bankruptcy after 78 years in business. The company cited years of accumulating debt and ongoing challenges with its business model as contributing factors. A former leader in the kitchenware industry, Tupperware also noted the changing landscape of consumer preferences and market competition.

Dean Snyder Construction (DSC), founded in 1958, is a family-and-employee-owned general contractor and design-build firm. We serve the commercial, food and beverage processing, industrial, pharmaceutical manufacturing, and healthcare markets. Our commitment to hard work, direct communication, owner involvement, and exceeding client expectations ensures long-term customer satisfaction. Contact us at www.deansnyder.com

LEADERSHIP & MANAGEMENT

Communication is about what is received, not what is intended, says James Clear, author of the #1 New York Times best seller, Atomic Habits: “If there is a gap between what you are saying and what they are hearing, you have to find a new way to say it.”

What are the pitfalls that come with the rise of hybrid and remote work? According to Fortune, they can include less communication among coworkers, fewer employee check-ins and a fuzzy line between transparency and privacy. They can also include unnoticed deaths! Last month, a 60-year-old, Wells Fargo employee arrived at her office at 7 a.m. on a Friday. She later died in her cubicle, and shamefully, wasn’t discovered until the following Tuesday by a security guard, after employees had complained of a foul order.

Men continue to vastly outnumber women in the tech industries. Though women make up 47.4 percent of the total U.S. workforce, they hold only 22.6 percent of high-tech jobs, according to The Hustle. That number has not significantly increased in the last 20 years.

SALES

When you ask your prospects stupid questions that you should already know the answers to, you are exhibiting your lack of preparation and commitment, according to sales author Jeb Blount. For example, stupid question #1 is, “What do you do here?” If you can easily find the information online, you shouldn’t ask for that information in a discovery meeting. The most effective questions position you as an expert, demonstrating that you understand your prospect’s business, challenges and opportunities.

More than 41 percent of sales professionals admit that the telephone is the most effective sales tool at their disposal, according to Hubspot.

WISDOM

“Better to be occasionally cheated than perpetually suspicious.” – B.C. Forbes

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Did you know Nebraska is the #1 most financially literate state in America according to Credit Secrets?

Did you know that the Miracle Hills area north of 114th & West Dodge Road was once the Golden Spike drive-in theatre? The outdoor movie screen was 65 feet high and 56 feet wide. The white screen never had to be repainted, because it was made of asbestos!

Did you know that enrollment at the University of Nebraska Medical Center has increased for 24 straight years?

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EPIC for Girls Hosts Event Addressing Key Issues for Women and Girls in Sports
EPIC for Girls will present An EPIC Discussion: Championing Equity and Elevating Women in Sports, on September 20, 2024, from 12:00 noon to 1:30 p.m. at The Venue at the Highlander. Sponsored by Valmont, the event will feature renowned panelists Dr. Tragil Wade, Reshanda Gray and Markeshia Grant, addressing key topics such as fostering positive team cultures and expanding opportunities for girls in sports, especially for girls of color. With only a few tickets remaining, those interested are encouraged to act quickly. Visit EPIC for Girls to reserve your spot.

Siena Francis House Exceeds Fundraising Goal at 30th Anniversary 5K
The Siena Francis House’s 30th Anniversary Hope for the Homeless 5K on September 15th exceeded expectations, raising $82,647—well above the $75,000 goal. With 365 participants lacing up to support the cause, the event showcased the power of community involvement. Funds raised will directly impact individuals experiencing homelessness, providing shelter, hot meals and a pathway to stable housing. The success of the event reinforces the vital role the community plays in supporting those in need.

Project Intentional Inc. Announces Indefinite Pause After Years of Service
After four-and-a-half years of community service, Project Intentional Inc. announced it will pause operations indefinitely. The Omaha-based nonprofit, which adopted 1,500 caregivers in 2023 alone, has supported thousands of families, impacting over 4,380 children and distributing more than $205,800 in goods. The organization also established six hygiene banks throughout Omaha. Despite these accomplishments, the board decided to refocus on core values and family. Project Intentional expressed deep gratitude for the community’s support and encouraged others to prioritize what matters most in their lives.

Nebraska Diaper Bank to Host 3rd Annual Fundraiser on September 26
Nebraska Diaper Bank will hold its 3rd annual fundraiser, Music to Their Rears, on Thursday, September 26, 2024, from 7:00 to 9:30 p.m. at The Barn at Ackerhurst Dairy Farm. The event, now in its third year, supports the bank’s mission to provide diapers to families in need. The fundraiser, featuring music from Billy McGuigan and a “Decades Party” theme, has sold out the past two years. Proceeds are vital to addressing diaper need, which affects one in three families in Nebraska. Last year’s event enabled the distribution of 2.8 million diapers to more than 10,000 babies.

Giving Tuesday Set for December 3, 2024, with $5 Million Goal
SHARE Omaha is preparing for its biggest giving event of the year on December 3, 2024, Giving Tuesday. With support from sponsors Kiewit, Dundee Bank and Farm Credit Services of America, the goal is to raise $5 million in just 24 hours for nonprofits. Great ways to get involved include organizing a team volunteer day or hosting a collection drive, in addition to monetary donations. Early giving is now open, visit SHARE Omaha to support causes that matter most to you.

Go Big Red Tailgate & Watch Party on September 20th: Bushwackers is the place to be on Husker Game Day! Come watch the games on the outdoor 27-foot mega screen! With free admission and tailgate reservation spots – there’s a spot for everyone! There will be yard games, prizes, drinks, food and specials available. Come out to cheer on the Huskers in a lively space!

Puppy Yoga on September 21st: Nothing gets the limbs loose like some poses and puppies in the morning. Join the La Vista Smash Park for Puppy yoga with adoptable puppies provided by the Basset and Beagle Rescue of the Heartland, and yoga instruction provided by Amber Ostblom! Sign up now—part of your ticket supports the rescue!

Millwork Art: Art Club on September 23rd: Millwork Commons is hosting a fun and creative Art Club event. Whether you’re a seasoned artist or just looking to try something new, this is the perfect opportunity to unleash your creativity. Come out to meet like-minded individuals and create with fellow art enthusiasts!

Classic Speed Dating – (Ages 30 to 49) on September 24th: Join in on this exciting evening of speed dating! This event is perfect for singles looking to meet new people and potentially find a special someone. The evening will begin with a meet-and-greet, allowing everyone to get to know each other before the speed dating rounds begin. You’ll have the opportunity to chat one-on-one with each participant for a set amount of time before moving on to the next. Smitten Singles will provide conversation prompts to ensure that the conversation flows smoothly. After the rounds are complete, you’ll turn in matches and have a chance to get to know the people you connected with at the post-event mixer. Spots are limited so get your tickets now!

Quarterly Education on September 26th: Join Modus Coworking for a new community event! They are hosting quarterly educational panels to offer valuable information to entrepreneurs and small business owners. The event will cover AI and Automation, beginning at 5 p.m. with drinks provided and networking encouraged. Speakers will begin at 5:30 p.m. and then open up to Q&A at the end of the discussion.

This section is sponsored by Eagle Mortgage, a locally owned, full-service mortgage company helping you with Conventional, VA, FHA and USDA loans in both Nebraska and Iowa. Learn how Eagle Mortgage helps people afford the home of their dreams by clicking HERE!

Senior Market Sales, an Omaha-based insurance marketing organization, has promoted longtime president Jim Summers to Chief Executive Officer and senior vice president for marketing and strategic development John Haver to president.

Attorney James T. Schmidt has returned to Baird Holm LLP’s Finance & Creditors’ Rights section. He began his law career at Baird Holm, and after a brief hiatus at a law firm in the Kansas City area, has returned to concentrate his practice on bankruptcy, in and out of court restructurings, creditor enforcement and collection remedies, and related commercial litigation.

E & A Consulting Group, Inc. has added Jarrett Austin as landscape designer, Abby Brady as human resources intern, Craig Lerch as construction technician and Stacey Wood as assistant project coordinator.

The Greater Omaha Chamber is a catalyst and connector, advocating for businesses small and large. Learn, share and grow with more than 12,000 professionals from 3,000 member businesses across Greater Omaha. Click HERE to see our latest events.

Mr. Market has had a quixotic and volatile summer. And in uncharacteristic fashion, the financial media has turned to emotional adjectives to describe his vacillations. What has the Wall Street gurus and their obsequious lackeys in academia flummoxed? It’s that emotions are not quantifiable. Ah ha, but in Mr. Market’s case, there’s an exception – stock market indexes!

The purpose of a stock market index is to give investors and their slimy counterparts, Wall Street traders, an indication of how the market is performing. There are three indexes that are part of the public’s lexicon. The Dow, The S&P 500 and the Nasdaq. Of the three, the S&P 500 is the best known, and for a good reason. It’s not the oldest, but it is the broadest representation of the U.S. stock market.

As the name suggests, the S&P 500 consists of 500 of the largest publicly traded U.S. companies. It represents 85 percent of the total value of the U.S. market. The calculation of the S&P is weighted by market capitalization. A company’s market cap is calculated by multiplying its current price times the number of shares outstanding. There is a lot of criticism by the traditional Wall Street whiners that the S&P is flung about by the big – mainly tech – companies.

Wake up and smell the coffee, folks…So is the economy and the market! If you want an index that reflects the market, it has to be driven by the larger companies.

However, like all things Wall Street-related, the S&P 500 is not static. The companies in it are selected by a committee within its parent company, Standard and Poors. The reason they do this is not because they love you. It’s because they can make money doing it. The components of the S&P 500 are rebalanced on a quarterly basis on the third Friday of March, June, September and December. At this time, some companies are deleted and others added. On average, there are about 50 changes per year. Also, at this time the market caps of all the components are updated to reflect their current values.

If you listen to the jibber jabber from the financial media, you get the impression that Tesla and Nvidia are the main culprits flipping Mr. Market around. Not!

Currently, the number-one stock is Apple, which accounts for 7.1 percent of the index’s movement. Number two is Microsoft at 6.5 percent. And yes, Nvidia is number three at 6.3 percent, followed by Amazon and Facebook. The big surprise is Berkshire at number five with 2.1 percent and Eli Lilly at number seven with 1.9 percent.

The moral of the story is that Wall Street can continue to conduct their financial analysis mumbo gumbo until they go blind. But at the end of the day, Mr. Market is, and will remain, an emotional organism. And yes, size does matter – a lot!

The “Wall Street” section is sponsored by Baird Holm LLP, the Exclusive Legal Partner of Grow Omaha. Baird Holm’s dedicated team of real estate lawyers has extensive experience in all aspects of real estate law, including purchases, sales, construction, zoning and land use, leasing, and dispute resolution. Click HERE for more information.

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The Grow Omaha radio show broadcasts live every Saturday morning at 9:00, but now you can watch videos of each episode instead of just listening.

Grow Omaha’s brand-new website features video footage shot inside the radio studio during each week’s show!

Videos include News of the Week, Lightning Round, guest interviews, and “Grow Omaha Uncut,” a behind-the-scenes look at what happens during commercial breaks.

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