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Weekly Market Report – August 17, 2023
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Restaurant & Retail Updates
Sand Point, a full-service, New England-style restaurant plans to open in November at 655 North 114th Street. It will be inside the former Julio’s Tex Mex and Jack & Mary’s space in Miracle Hills. The restaurant’s owner, Jonathan Taylor and his family, also own the popular Three Kids Lobster and The Modern Waffle food trucks. Sand Point will serve New England seafood dishes plus steaks, burgers, beef tips and other entrees.
First Round, an early 1990s-themed sports bar, opened last week at 3901 Farnam Street in the Blackstone District. The bar features a made-from-scratch menu that’s available for lunch, brunch, dinner and late night. First Round is in the same building as Get Real Sandwiches.
Good Evans has opened its second Omaha location northwest of 204th & West Maple Road. The Kearney, Neb.-based restaurant has an existing Omaha location at 74th & Pacific Street.
PepperJax Grill plans to open a new Elkhorn-area location right next door to the aforementioned Good Evans restaurant (above). PepperJax has added multiple Omaha-area locations recently.
Construction has gone vertical on a Take 5 car wash and oil change business on a pad site between Buffalo Wild Wings and Texas Road House in Papillion’s Shadow Lake Towne Center. The North Carolina-based company has hundreds of locations including one under construction in Omaha at 99th & Blair High Road.
Construction continues on Burger Detour, a new locally owned burger concept, at 183rd & West Maple Road. Additional Burger Detour locations are planned for 204th & Pacific Street and 120th & L Street on the former Famous Dave’s site.
MW Climbing, an indoor climbing gym from Lincoln, opened an Omaha location July 29th at 2809 South 125th Avenue in the former Westwood 8 movie theatre space.
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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
Grow Omaha Eats with
Sarah Baker Hansen
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Review: At Williamsburg Pizza, a slice of Brooklyn proves popular in Omaha
Here’s a fun fact: The Williamsburg Pizza in Omaha — the one that opened just two months ago — is now the single busiest location of the New York-based chain of pizza restaurants operating in Brooklyn, Manhattan and various other NYC boroughs.
Yep. You read that right.
“It is our busiest location in the whole country,” said co-owner Matt Hodges, who opened the Omaha location with Williamsburg Pizza founder and Omaha native Aaron McCann.
This is actually Hodges’ second time having the busiest location of any one single restaurant in the country at a given moment: He also owns the Jimmy John’s franchise near 72nd & Dodge Street and, at one time, that shop boasted the same success.
“It’s some kind of a track record,” McCann said.
Both Hodges and McCann knew when they planned to open Williamsburg Pizza here that the city had an already stacked lineup of pizza joints, including several New York-style spots, like Frank’s and Noli’s, among others.
Still, after visiting New York and trying a selection of the pizzas, Hughes said he thought there was a place for Williamsburg in the heart of the Midwest.
After my two recent visits, I can see what they mean: The pizza is New York style, but with a twist. Williamsburg has two styles of pie: a Brooklyn-style thicker thin crust, with a super crunchy edge, and an even thicker-crusted grandma style lineup of pies — the bulk of the pizza menu — with a crust so crispy it’s almost fried. In my book, those pies land somewhere between a thick pan style and a Detroit style.
I liked each of the three pizzas we tried. The cup-and-char pepperoni on the grandma style crust might have been my favorite, with its crisp-edge pepperoni bowls (who doesn’t love a tiny pepperoni curled up into a crisp bowl?) Like most of the Williamsburg pizzas, it also comes topped with high-quality Grana Padano cheese and a bunch of thinly cut, fresh basil, a touch I appreciate.
The Paesano in Omaha has one difference from the version in New York, and that’s the sausage, which in Nebraska, comes from a farm in Iowa, McCann said. So far, folks who have tried both prefer the Omaha version, he said, with its nicely spiced, loosely formed Italian sausage balls along with red peppers, cremini mushrooms, Grana Padano, fresh Mozzarella, tomato sauce and basil.
That load of toppings, a significant one, is probably why one night we noticed the center slice of the pie could get slightly doughy under all that weight. But for the most part, the crust seems to handle the toppings well.
The combination of Grana Padano and fresh Mozzarella shines on the simply topped Sophia Loren, where it’s joined by fresh basil; garlic; and marinated, sliced fresh tomato. Brooklyn-style crust performs better with fewer toppings, and the Sophia has the most toppings of any on the list. I liked the airy bubbles under a browned finish on the pizza’s edge.
There’s a distinct creaminess and richness that comes from the Sophia’s combination of cheeses, one McCann said comes from running the restaurants in New York, where most walk-in customers order a “regular slice,” which comes topped with just cheese and tomato sauce and, on the Omaha menu, is called the Brooklyn.
“Here, the cheese pizza is what you get for kids,” Hodges said. “But when it’s done right, and has that quality, you get why people say if you can’t do the cheese pizza right, you can’t do anything else right, either.”
The menu has several appetizers, including some super buttery garlic knots that come four to an order with marinara for dipping, and an order of meatballs, which can include four or eight, topped with red sauce and a healthy sprinkle of melted cheese.
The only stumble we ran into was in the form of a kale salad, which had pieces of the green so large that it was hard to eat. The large leaves, paired with juicy marinated artichokes, led to a difficult salad to consume, and it needed more dressing and a sharp knife to make a go of it. McCann said later that the owners appreciate the constructive criticism, and he agreed that an uncut kale salad could be hard to eat.
Inside, Williamsburg is doing a brisk takeout business. The first night, we ordered our pizza to eat in the dining room, which is small, with just four booths, and mostly full of people waiting for takeout. Another day, a Saturday, when I ordered my pizza to go around 5 p.m., the employee told me I was looking at an hour-and-20-minute wait before it was ready — good to know if you’re ordering on a busy weekend night.
Also good to know: The Omaha store doesn’t have online ordering yet, so you should plan to make a phone call. Also, there’s no delivery, for now.
When I did arrive on that Saturday, I only waited about five additional minutes to get my full order. Hughes said the team is aiming for diners to get their food promptly at the time it’s promised.
McCann said the team worked hard to keep the recipe in Omaha the same as the one in New York while also making sure it had the capacity to travel, since most of the business is takeout.
“We want to create the same pizza using the same ingredients and the same level of artisanal curation at the nicest of sit-down restaurants, but in a takeout and delivery format,” he said.
Omaha has embraced Williamsburg enough that its owners said they’re already looking to open a second location, in either central or northwest Omaha.
Even in a city like ours, with a packed pizza lineup and a vast array of styles of pie, there’s apparently always room for one more. When it’s made with quality ingredients and with its own signature flare, it becomes something worth waiting for.
Open daily: 3p to 9p
The Big Story
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Photo by Brad Williams Photography
Development Projects Across the Metro
The August Grow Omaha Construction Update video, produced by Brad Williams, is now available on our website or by clicking HERE.
Our construction videos are full of footage and information about local developments. For this week’s Big Story, we are highlighting just some of the projects you’ll see. Here goes…
Mutual of Omaha Tower – The first vertical elements have been installed. The 800,000 sq. ft., 44-story skyscraper will be the tallest building in a multi-state region. Completion is planned for 2026.
Hampton Inn – a 6-story hotel on the southwest corner of 44th & Douglas Street has reached full height and exterior doors and windows are being installed. The hotel will serve the booming Med Center area.
Central Library – Grading and underground work is underway for Omaha’s future flagship library southwest of 72nd & Dodge Street on the former Do Space site.
Miracle Hills Park Shopping Center – Built in the 1980s, this retail center on the west side of 114th Street north of West Dodge Road has been under renovation for quite some time and is finally nearing completion.
H&H Kia Dealership – Lueder Construction is building a new auto dealership in Steel Ridge northeast of Interstate 80 & Highway 370. The 2-story building is one of two new prototypes Kia has under construction nationally. Completion is planned for early 2025.
Jesuit Residence Hall – Creighton University is building a $17 million, 4-story, 38,000 sq. ft. residence for Jesuit priests who work on the campus. It is located in the heart of campus along the west side of 24th Street.
Smash Park – Work is underway a 30,000 sq. ft. entertainment center in La Vista’s Southport West area. Smash Park will include food, drink, pickleball, axe throwing, duck pin bowling, private karaoke suites and more than 100 HD televisions. A 15,000 sq. ft. outdoor entertainment space and rooftop deck are part of the complex.
Dizzy Mule – Construction continues on the $35 million Dizzy Mule project in Millwork Commons, part of North Downtown. This project includes renovation of existing historic buildings plus new construction and will occupy an entire city block. It will have both retail and multi-family space.
Center for Arts Engagement – On the east side of the Holland Performing Arts Center downtown, site work is underway on a $103 million addition.
Highlander Development – 75 North Revitalization Corp. is redeveloping the former Pleasantview Homes public housing project near 30th & Blondo Street. Work is currently underway on Phase 3, which includes 89 units on both the east and west sides of 30th Street.
The Riverfront – Brad Williams was granted a media sneak peek of Heartland of America Park and Lewis & Clark Landing. The photos are amazing! The two parks open tomorrow after a $300 million renovation project that also included Gene Leahy Mall.
This section is sponsored by RENZE. For over 128 years, we have been providing our clients with innovative solutions for interior corporate and retail branding, as well as unique exhibits and graphics for tradeshows and events. With leading-edge equipment and quality craftspeople working out of our 90,000 sq. ft. facility, we partner with you to help create your vision. See why history never looked so good — click HERE for some of our newest historical timelines.
Grow Omaha Snippets
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The U.S. Army Corps of Engineers awarded Turner Construction a $389 million contract to construct two buildings at Offutt Air Force Base. The project is part of an effort to elevate the base’s facilities above the 100-year flood plain. Offutt suffered major damage during the 2019 Missouri River flood.
The facilities include a 3-story, 420,000 sq. ft. non-kinetic operations center that will house intelligence, training, maintenance and reconnaissance squadrons, as well as a 5,000 sq. ft. defense courier station that will serve as a shipping and receiving facility. The facilities are slated to open in December 2027.
The Omaha City Council has approved Forever North Real Estate, LLC’s $72.5 million development project at 24th & Lake Street, according to the Omaha World-Herald. The two-building complex will receive $9.5 million in Tax Increment Financing.
Both buildings will be four stories. The building facing 24th Street will have 16,000 sq. ft. of street-level commercial space with 81,000 sq. ft. of office space on the upper floors. North End Teleservices will occupy the top two floors. The second building will have 99 apartment units. Construction could begin as soon as next spring.
One professional volleyball team is not enough! League One Volleyball announced yesterday that Omaha will be the home to its next franchise. The Los Angeles-based league was founded in 2020 and has professional women’s volleyball teams in Salt Lake City, Atlanta, Houston and Madison, Wis. The Omaha team will start play after the 2024 Olympics in Paris. Earlier this year, the Pro Volleyball Federation announced Omaha would be home to one of their new franchises.
The next phase of redevelopment is coming to the Little Bohemia neighborhood: single-family infill projects. As an example, Benak Builders plans to construct a 3-story, single-family house on the northwest corner of 15th & William Street.
The Iowa Department of Transportation has reopened Interstate 29 just north and south of West Broadway. I-29 had been closed for about a year and a half for the $180 million complete rebuild of the interchange with Interstate 480, which feeds into downtown Omaha.
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.”
Local Business News Sponsored by FranNet of The Heartland:
Kiewit Corp. of Omaha has sold its nearly 400,000 sq. ft. Denver office campus for $205.2 million, a whopping $520.80 per square foot, according to Commercial Property Executive. Located in the 3,500-acre RidgeGate master-planned community of Lone Tree, Colo., the campus consists of two office buildings, a 950-stall parking structure and a surface parking lot.
Baird Holm, LLP, Nebraska’s oldest law firm, is celebrating its 150th anniversary this year. The firm’s theme for this milestone year is “Legal Counsel for a Lifetime.” Founded by Milton Montgomery and his son Carroll Montgomery in 1873, Baird Holm now has 100 attorneys and a team of paralegals, legal assistants and staff. Over time, the firm went through a series of mergers. In 1970, the firm known as Young, Holm, McEachen & Hamann merged with Lane, Baird, Pederson & Haggard, resulting in the creation of Baird Holm LLP.
Forever Yesterday Exchange thrift store recently opened at 9006 Maple Street to complement an existing location at 8534 L Street. The business sells furniture, clothing, table items, books, antiques and other merchandise. The company also offers complete estate cleanout, liquidation and preparation services “from hoarding and abandonments to sprawling estates.” The Grow Omaha show will broadcast live from the 90th & Maple Street store Sept 2nd.
The coin laundromat building at 13807 P Street in old Millard has sold, according to Jorge Sotolongo and Gabrielle Estivo of NAI NP Dodge, who represented the seller. The buyer plans to upgrade the building.
OBI Creative, an Omaha-based marketing and communications firm, has been included on the 2023 Inc. 5000 list of fastest growing companies in the nation.
FranNet of the Heartland received the Commitment to Excellence award at FranNet’s national conference. The Omaha company was also designated as a top-four producer in FranNet’s international system. Four of FranNet of the Heartland’s alumni have been named top performers or franchisee-of-the-year in their respective national franchise systems over the past few months.
Werner Enterprises has declared a regular quarterly cash dividend of $0.14 per common share. This dividend will be paid on October 18, 2023, to stockholders of record at the close of business on October 2, 2023. Werner has paid a quarterly cash dividend to its stockholders every quarter since July 1987.
Red Dog Real Estate has purchased a 3.37-acre lot in Falcon Business Park located near U.S. Highway 275 & Ida Street in Valley, according to Investors Realty. The buyer plans to build a flex building on the site.
The Creighton University Rural Mainstreet Index sank to a growth neutral reading for August after four straight months of growth-positive readings, according to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.
More than 10 percent of Americans lease storage space today, according to The Hustle. In June, they paid an average of $166 per storage unit.
This section is sponsored by FranNet of The Heartland, the local, trusted franchise experts. They are “in the business of helping you get into business!”
Grow Omaha University
Leadership & Sales Insights for Ambitious People
Sponsored by Dundee Bank
LEADERSHIP & MANAGEMENT
If you want to be happy, work for someone you admire. So says Berkshire Hathaway CEO Warren Buffett as quoted in an Inc. article: “It’s crazy to take little in-between jobs just because they look good on your resume. That’s like saving sex for old age. Do what you love and work for whom you admire the most, and you’ve given yourself the best chance in life you can.”
To motivate your team and achieve your vision, break big targets into smaller goals that build up to the overall target, according to HubSpot. It’s less overwhelming and more satisfying when your team consistently hits the smaller targets.
Gyms were once wary of letting members do remote office work from their lobbies and locker rooms. Now, they see opportunity in offering extra desks and power outlets, according to the Wall Street Journal. Some gyms are creating co-working spaces that members can use before or after workouts. Other gyms are charging extra and offering entire floors for clients to stay and work all day.
In a nationwide survey of 1,000 objectively wealthy Americans — defined as making at least $175,000 a year, roughly the amount required to crack the top 10% of US tax filers — a full quarter told Bloomberg they were either “very poor,” “poor” or “getting by but things are tight.”
Here are five signs you should pass on a new job offer, according to Forbes: 1. The job package is not competitive; 2. There are no opportunities to grow; 3. Their values don’t match yours; 4. The employer is giving you the hard sell; 5. The employer is being vague or indecisive.
Be careful if you manage both operations and sales. The tendency is to focus on ops at the expense of sales. Ops are more urgent and tangible. Sales issues are harder to diagnose and take longer to complete.
Approximately 84 percent of B2B buyers kick off their buying process with a referral, according to Spotio.
Everyone knows that exercise helps you be more successful at work. But there’s another aspect of exercise that helps you professionally: time management. Exercise and sales prospecting both require effective time management to achieve desired results, according to a SalesGravy article by Nate Hadd. By incorporating a disciplined fitness routine, you develop valuable time management skills that can be transferred to sales prospecting.
“The two most important days in your life are the day you were born and the day you find out why.” – Mark Twain
Founded in 2006 right in the heart of Omaha’s Dundee community, Dundee Bank is all about local ownership, friendly customer service, and supporting the needs of our beloved community. With nearly 100% of your deposits going right back into our neighborhoods, Dundee Bank is committed to fueling growth, enabling loans, and fostering stability for you and your neighbors. So why not open an account at Dundee Bank and discover what it means to truly support local?
Did You Know?
Surprising Facts, Figures & Points of Pride That Make Omaha Unique
This section is sponsored by Lockbox Storage.
Did you know that tomorrow is a long-awaited day? Heartland of America Park and Lewis & Clark Landing reopen tomorrow morning after undergoing a complete renovation over the past couple years. The two parks will complete the 72-acre Riverfront complex, including Gene Leahy Mall which reopened a year ago. Overall, The Riverfront upgrades cost more than $300 million. That does not include the $100 million+ Kiewit Luminarium.
Did you know the City of Omaha has a population of 492,601? That makes it the 40th largest city in America.
Did you know the Rolling Stones refused to perform in Omaha for 42 years following their 1964 concert here? Band member Keith Richards was underage at the time. He took his cup of Scotch and Coke with him into the restroom. An Omaha police officer followed him into the restroom, allegedly pulled a gun on Richards, and ordered him to flush the drink down the toilet. The band supposedly held a grudge against Omaha until finally returning to perform in 2006.
This section is sponsored by Lockbox Storage, an affiliate of Omaha-based McGregor Interests Inc. We provide storage solutions for all of your storage needs. Our facilities have full-time managers and bright lighting to provide superior security for your belongings. In addition to space for rent, we also provide packing supplies, protection plans and locks along with complimentary handcarts and dollies. Visit LockBox Storage and let us help you with all your storage needs.
Upcoming Events in the Metro
Powered by Vesta
2023 Greek Festival on August 18th – 20th: Experience the aromas, the tastes, the music and the dancing of Greece right here in Omaha – no passport required! This festival is full of tradition, culture and entertainment. You’ll be able to enjoy the delicious homemade Greek cuisine, savor imported Greek beer & wines and devour delectable Greek pastries. Sit back and enjoy live Greek music and traditional dancing! OPA!
End of Summer Float Fest on August 23rd: It’s that time of year again! Two of your favorite local businesses coming together for some delicious fun. Coneflower Creamery & Scriptown Brewing Company collaborate to change the float fest game. This is an all-ages event (classic root beer floats will be available for minors), so bring grandma, bring your neighbor and get ready to INDULGE!
Millwork Conversations with Rick Knudtson on August 23rd: Millwork Conversations is providing an opportunity to learn from people across communities right here in Nebraska and across the country! Discover new ideas and expand your perception of what’s possible – how to push past real and imagined boundaries. This monthly event provides an inspiring, memorable experience for attendees through compelling conversations. Joining this month is Conversation Leader, Rick Knudtson of Workshop. Join in on the insightful discussions and a social hour after in Kros Strain Draft Works!
Night Light on August 24th: Unwind and rekindle your curiosity during Night Lights at Kiewit Luminarium! Happening every Thursday evening through August from 7-10 p.m., you can grab a drink, mingle and play with more than 100 interactive exhibits during an adults-only evening of discovery and fun on the riverfront. Make sure to check out the hands-on activities in the Maker Space and learn with Luminators. You can purchase your ticket at the door, but reservations are highly encouraged.
E-Commerce & Friends with Paul Jarrett, Owner of Bulu Box on August 24th: E-Commerce & Friends Meetups bring together entrepreneurs, business owners and community members alike to mix, mingle and chat with experts in the e-commerce space. Happening on the last Thursday of every month, learn more about e-commerce and network with like-minded individuals. This month’s speaker is Paul Jarrett, a distinguished co-founder & CEO, whose journey in the realm of e-commerce began in 2012 with the inception of Bulu. Come out to mix, mingle and learn!
Do you have an event you want Vesta to publicize? Share them with us here for free!
This Upcoming Events section is sponsored by Eagle Mortgage Company, is a locally owned and full-service mortgage company in Omaha.
Eagle Mortgage can help you realize your dream of owning a home.
People in the News
Sponsored by Baird Holm Attorneys at Law
The AIM Institute’s Board of Directors has chosen Renee Franklin to serve as the nonprofit’s president and CEO starting August 21st. She succeeds Dr. Kandace Miller, who served the organization for 30 years. Franklin previously led the Elementary Learning Centers at the Learning Community from 2010 to 2022. She also served as the executive director at Kids Can Community Center for 12 years. Franklin recently began her own consulting firm specializing in nonprofit management.
Nancy Sinnett has been promoted to vice president of corporate accounting at Mutual of Omaha. She oversees five finance and accounting teams. Sinnett joined Mutual in 1995 as a financial analyst and has held various roles in finance supporting the enterprise. She briefly left Mutual to work at Lincoln Financial Group, where she most recently served as an assistant vice president. Sinnett earned a bachelor’s degree from the University of Nebraska at Kearney.
Cobalt Credit Union has appointed Jennifer McIntyre as vice president of business intelligence. She comes to Cobalt with more than 23 years of experience in project management, treasury management, internal and external customer service, training and mentoring. Most recently, McIntyre served as a director of deposit operations at a Kentucky-based credit union.
Katie Shipp of Dodge Partners Insurance in Omaha has been named Nebraska State CSR of the Year by the Independent Insurance Agents of Nebraska.
Wall Street: The Week in Review
with George Morgan
Morgan is the founder of Morgan Investor Education of Omaha.
Sponsored by Baird Holm Attorneys at Law
Views and opinions expressed herein are solely those of the author.
Apple and Amazon released their results after the market close. Apple’s earnings were nothing to write home about. They slightly exceeded Wall Street’s bottom-line estimates, but there were some funky things going on in the income statement. On the flipside, Amazon came in with estimates that blew away Wall Street’s expectations.
In the afterhours trading, Mr. Market beat Apple up, but pushed Amazon’s stock price to the moon. Next morning, Jim Cramer interviewed one of the hotshot hedge fund guys and asked him for his thoughts on Apple and Amazon’s results.
He said he was short Apple – meaning he believed the stock would continue to decline – and long Amazon – indicating he thought they would continue to climb.
Cramer’s instant response was somewhat of a Freudian slip – I am not a psychiatrist, but Webster says a Freudian slip reveals what you really think, but are afraid to say out loud:
“Why don’t you just buy QQQ?”
Translation: QQQ is an ETF that mimics the NASDAQ index.
The Nasdaq is weighted by market cap, so the largest stocks drive the index, giving Apple and Amazon big-time influence over its movement. Cramer’s Freudian slip revels that he knows that QQQ would accomplish the same thing the hedge fund guy is doing, but with less hassle and zero cost.
Go to Yahoo Finance and you will discover that there were tens of millions of individual investors who owned tens of billions of dollars’ worth of QQQ before Apple and Amazon announced their results. In other words, a whole bunch of novice, inexperienced, know-nothing investors will benefit from the Apple and Amazon schlimazel just like the smarty-pants hedge fund guy will, but without all the analytical hocus-pocus and expense.
I consulted with the gnomes about their thoughts on Mr. Market’s current mood. They opined that Mr. Market will probably remain in his flummoxed state for a while. Given his current focus on the Fed, interest rates and the CPI, the market will continue to fluctuate on an irregular basis.
In the words of Ben Graham, “When Mr. Market offers you a price you can’t refuse – to either buy or sell – take it.” Cash is not a four-letter word.
P.S. The Chinese government continues to press policies that are suppressing economic growth. Chinese exports to the United States continue to decline. The Wall Street Journal reports that the once-booming Chinese real-estate market is about to turn to poo-poo. Time to review international funds with significant Chinese exposure.
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Speeds to Millions of Homes in U.S. Cities!
Quantum Fiber in Omaha, Nebraska, is super-fast, reliable internet. We did away with data caps, bundles, and pricing gimmicks because you don’t want them. Instead, you get game-changing customer service, transparent pricing, and a powerful app for freedom, simplicity, and control over your internet. Quantum Fiber is what internet service looks like when it’s built for the world of you.
Have You Watched Grow O on Video Yet?
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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