Weekly Market Report – August 24, 2023

Hail Varsity Club at 12744 Westport Parkway in La Vista is changing its name to Hurrdat Sports Bar & Grill. The restaurant has been closed this week for renovations and will reopen Monday.

Bar K, a business which is part dog park and part bar/restaurant, is considering Omaha for a possible expansion site. The concept requires a 2-to-4-acre lot. Bar K currently has locations in Kansas City, St. Louis and Oklahoma City.

Happy Buddha’s, plans to open in late September in a 2,443 sq. ft. space at 3608 Twin Creek Drive in Bellevue, according to Brian Thomas of NAI NP Dodge. The locally owned restaurant will serve Asian fusion cuisine.

Ancho & Agave will open to the public on Monday, September 11th. The Mexican restaurant will be located in the 10,804 sq. ft. former Pier One space at Village Pointe.

Nebraska del Perú has opened at 7007 Grover Street. The restaurant offers “Gourmet catering and the authentic taste of wonderful Peruvian gourmet food made by and with Peruvian spice.”

Perspire Sauna Studios plans to open second metro area location at 18122 Wright Street, according to The Lerner Company. The existing location is at 144th & West Maple Road. The business offers “private, full-spectrum Infrared Saunas with Color Light Therapy.” Founded in 2010 in Southern California, Perspire Sauna Studios has 42 locations in 17 states.

Runza and Pizza Hut will co-occupy a 6,000 sq. ft. building under construction at 704 Locust Street in Glenwood, Iowa. Opening is planned for January.

The Mercato Butcher Shop has opened at 162nd & West Maple Road. The Lincoln-based retailer sells certified Piedmontese beef. Plans call for an in-store café to be added in the future.

Julio’s closed its Tex-Mex restaurant earlier this week at 19102 Q Street. According to a Facebook post, the restaurant might reopen next year in a smaller space at a yet-to-be-announced location.

HunterDouglas by Integrated Windows will hold a ribbon cutting August 31st for its new store at 12434 Westport Parkway in La Vista.

No more fried food – The combined Long John Silver’s and KFC fast-food restaurant at 3949 North 132nd Street has permanently closed.

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

National Restaurant Chains in Omaha

In this week’s Big Story, Grow Omaha is focusing on national restaurants that have opened or are planning to open locations in the metro area…

Hawaiian Bros Island Grill – This fast-growing chain is expected to open its first Omaha location next year southwest of Interstate 80 & Highway 370 in Gretna. The local franchisee, DKPM Investments, eventually plans to open four Omaha locations and several others throughout Nebraska and western Iowa. Kansas City-based Hawaiian Bros. has more than 35 locations in seven states and serves “island inspired plate lunches, sides and salads.”

Mahogany Prime Steakhouse and Charleston’s Restaurant – Both of these concepts are owned by Hal Smith Restaurants from Oklahoma City. They are moving from the 137th & West Dodge Road interchange to Heartwood Preserve southwest of 144th & West Dodge Road. Each will have its own free-standing building just south of Union Bank & Trust’s 5-story office building. The two restaurants should open by the end of the year.

MOKA Coffee – This new-to-the-market coffee drive-thru chain is actively looking for sites in Omaha. The company currently has 18 total locations in Madison, Wis.; Rochester, Minn.; La Crosse, Wis.; and suburban Chicago.

Oklahoma Joe’s – This barbeque restaurant is opening a second location in a former Greenbelly restaurant space on the southeast corner of 204th & Pacific Street. Oklahoma Joe’s has an existing location in Aksarben Village.

Twin Peaks – A Kansas-based franchisee plans to bring this sports bar back to the Omaha market and is seeking two locations. The restaurant needs 6,000 to 8,000 sq. ft. and will consider existing buildings or pad sites for new buildings. The Dallas-based chain has nearly 100 locations.

Goodcents – This concept plans to grow its presence in Omaha thanks to a 10-unit deal signed by current Goodcents franchisees, according to Franchise Update Media. Will and Gina Gregalunas, who now operate a Goodcents near Village Pointe, signed an agreement to build nine new restaurants over the next four to five years in the west metro area. The first one is scheduled to open by March.

Tupelo Honey Café – This Southern-style restaurant is planning to open its first Nebraska location in the Brickline Building, at 830 Harney Street. The Asheville, N.C.-based chain has more than 20 locations nationwide.

On the Border Mexican Grill & Cantina – The first Nebraska location for this Dallas based restaurant chain opened July 18th at 8810 South 71st Plaza in Papillion. The restaurant opened in a former Pizza Ranch building. On the Border has approximately 150 locations worldwide.

Guy Fieri’s Kitchen + Bar – This restaurant is now open inside Harrah’s Council Bluffs Casino and Hotel. The celebrity chef’s restaurant is designed to enhance Stir Concert Cove, an existing outdoor entertainment venue.

Williamsburg Pizza – Sarah Baker Hansen reviewed this restaurant in last week’s Grow Omaha EATS. This new pizzeria near 168th & Harrison Street is the first Williamsburg location outside New York and the busiest one in the company.

Google announced this week that it would be making a $1.2 billion investment in Nebraska in 2023 alone, including an expansion of its Papillion data center. The Mountain View, Calif.-based tech giant will also build a 580-acre data center north of Lincoln. The Omaha metro area hosts the largest concentration of Google operations in the nation. The company is also building a data center campus at 114th & State Street in Omaha and expanding it’s 1,000-acre campus in Council Bluffs.

Demolition is just about to start on several vacant buildings south of Dodge Street between 48th and 46th streets. The structures include a long-vacant gas station, a couple commercial buildings and several boarded-up single-family houses. Once the existing buildings are removed, construction can begin on an $82 million, 5-story apartment building that will have 330 units. Completion is planned for 2025.

The Creighton University Men’s Basketball team will continue playing at CHI Health Center Omaha for at least another decade after the University and the Metropolitan Entertainment & Convention Authority agreed to a 10-year extension that runs through the 2032-33 season. Creighton has been playing its home games in the venue since it opened in 2003 and has won over 82 percent of the games it has played there.

All told, the Bluejays have attracted 5,124,583 fans in 338 regular-season and postseason games in the arena, an average of 15,161 fans per contest. That figure jumps to 15,759 fans per game when you take out the 2020-21 season featuring limited fans due to the COVID-19 pandemic. The Bluejays have ranked in the top-10 nationally in average home attendance in each of the last nine non-COVID seasons.

Speaking of the Creighton Bluejays, If you have passed by the north side of CHI Health Center Omaha lately, you may have noticed a Creighton logo has been added to the building’s exterior.

Because of construction and weather delays at The Astro Theatre & Amphitheatre in La Vista, six shows that had been scheduled there will move to different venues, according to the Omaha World-Herald. The Astro is part of the new City Centre development located east of 84th Street between Harrison Street and Giles Road.

Construction has topped out on the D&J Medical Office Building northeast of 120th & West Center Road, according to Investors Realty. The 20,000 sq. ft. building will house a dental practice, radiology group and one other medical-related tenant. Completion is planned for Spring 2024.

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.”

LockBox Storage plans to open a 95,000 sq. ft. storage facility on the northwest corner of 192nd & Blondo Street in September. The Omaha-based company is among the 100 largest storage operators in the United States.

Omaha Public Power District’s board approved a plan last week to add more electrical generation, according to Nebraska Examiner, an estimated capital investment of $2 billion to $2.2 billion by 2030, nearly doubling the district’s capacity. Customer rates could increase an estimated 2.5 to 3 percent per year from 2027 to 2030 to pay for the projects and rising electricity demand.

Werner Enterprises was selected as a 2023 Quest for Quality award recipient from Logistics Management in the category for truckload-dry freight carriers. The Quest for Quality awards are considered a significant measure of customer satisfaction and performance in the transportation and logistics industry, and this is Werner’s 12th time receiving this recognition since 2012.

Thirty-four Baird Holm attorneys have been selected by their peers for inclusion in the 2024 edition of The Best Lawyers in America lists, with nine named “Lawyer of the Year” in their respective practice areas. Additionally, 13 Baird Holm attorneys are included in The Best Lawyers: Ones to Watch in America list.

Fusion Medical Staffing has been named to the Inc. 5000 list of America’s fastest-growing private companies for the eighth time. The Omaha-based company ranked number 1,783.

Gov. Jim Pillen has assembled a new group — representing state government, chambers of commerce, education and private businesses — to examine the oft-discussed state workforce shortage, according to Nebraska Examiner. Nebraska was tied with North Dakota for having the fifth lowest unemployment rate in the nation at 2 percent. The national average in July was 3.5 percent.

Felius Cat Cafe & Rescue plans to move to 5015 Dodge Street early next year. The non-profit organization, which is currently located downtown at 522 South 24th Street, combines a coffee shop with a cat adoption service. Patrons can grab a cup of coffee while playing with cats that are looking for new homes.

Young Chiropractic & Rehabilitation Center has signed a lease at Waterford Crossing, a new retail strip at 154th & Ida Street, according to Oak Investment Real Estate.

One of the hottest trends in tourism is solo travel. Travelers don’t want to be held back or restricted where they can go, based on the desires of their usual travel partners, according to Flash Pack, a global travel company. Google searches for “solo travel” are up 700 percent. Twenty-five percent of Americans are reportedly considering solo travel in 2023.

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!”

Omaha Real Estate Numbers for July

By Joe Finlay

The Omaha Area Board of Realtors and the Metro Omaha Builders Association released the Top Builders New Home Permit Report for the month of July. In all, 86 builders pulled 219 residential permits in July.

Year-to-date 1,175 permits have been pulled to build in Douglas, Sarpy and Lancaster counties. The builders who have pulled the most permits this year are Celebrity Homes, D.R. Horton, Charleston Homes, Richland Homes and Tuscany Townhomes. The number of permits is up slightly compared to the same time last year.

Inventory

In Douglas, Sarpy and Lancaster counties, there are 293 completed new construction homes, and of those, there are 67 model homes available to tour. There are an additional 759 homes under construction.

While there was a dip in the number of new construction homes available in 2020 and 2021, there has been a steady uptick since the summer of 2022 and Sarpy county seems to be leading the way.

Bottom Line

New homes are available for those buyers who aren’t interested in competing against multiple offers. Let’s connect and talk through which subdivision might be best for you.

Grow Omaha Residential is developed and sponsored by Joe Finlay, REALTOR with NP Dodge Real Estate.

LEADERSHIP & MANAGEMENT

Gallup’s Employee engagement survey numbers are pretty much the same as they were 20 years ago despite the billions of dollars corporations have spent on “employee engagement” during recent years. In a recent Forbes article, Todd Nordstrom writes that we have been getting it all wrong. Companies need to engage with each employee instead of assuming employees should engage with the organization.

One fifth of U.S. workers said they had trouble sleeping when working under a newly promoted manager, according to a study recently highlighted in Fortune. Forty percent of the 2,000 workers surveyed said that working under a first-time boss has been the source of “stress or anxiety about going to work,” as well as dwindling motivation—and it’s causing a third to reconsider working at their companies entirely.

The bidding war for workers is over, at least for now, according to the Wall Street Journal. As businesses become more cautious in their hiring, many companies are paying recruits less than they did just months ago.

The national average price of daycare and preschool services rose 6 percent in July from a year before, according to the Wall Street Journal. That was nearly double the overall inflation rate of 3.2 percent, which was down from its recent peak of 9.1 percent in June last year.

Dads now make up 18 percent of stay-at-home parents, according to Fortune article by Orianna Rosa Royle. The number of stay-at-home fathers has nearly doubled over the past 30 years

SALES

New Sales Training Program – Jeff Beals and his partners just launched an on-demand, 24/7 sales training program called, “BradBird.” It helps new and seasoned sales pros navigate the entire sales process, and it costs significantly less than live-in-person workshops. Details HERE.

When it comes to prospecting, never let up. It takes too much energy to rebuild sales momentum after you let up.

The lifetime value of referred customers is on average 16 percent higher than that of non-referred customers, according to the Wharton School of Business.

Some say the economy is experiencing a “rolling recession,” a circumstance in which only some industries shrink while the overall economy manages to stay above water, according to PBS News. Keep that in mind, if you notice temporary changes in prospective clients’ willingness to engage with you.

WISDOM

“It’s not the load that breaks you down. It’s the way you carry it.” – Lou Holtz

https://www.dundeebanking.com/

Did you know Omaha was featured in the 1939 book, Five Cities: The Story of Their Youth and Old Age by George Leighton? According to Omaha historian Howard Hamilton (1934 – 2020), a local school board member protested when he found out Omaha’s Technical High School had purchased the book for its library. He didn’t like the book’s language and content about Omaha.

Did you know Omaha’s cost of doing business is 14 percent lower than the national average?

Did you know that with a population of 492,601 the city of Omaha is technically bigger than Miami, Minneapolis, Tampa, New Orleans, Cleveland, Orlando, Cincinnati, Pittsburgh and St. Louis?

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.

Night Market on August 25th: The 6th Annual Night Market is having its LAST event for the summer on August 25th! Join others and immerse yourself in a vibrant world filled with activities and attractions suitable for anyone. You’ll be able to explore the Vendor Village, containing an array of more than 40 local makers and boutiques, while enjoying the live music, games and entertainment! You can expect performances by Omaha Street Percussion, the Polka Police and many more. There will be plenty of treats and refreshing beverages from the acclaimed restaurants in the Midtown Crossing neighborhood for you to enjoy throughout the event!

Omaha Classic Speed Dating on August 31st: Smitten Singles is hosting another classic speed dating event! The evening will begin with a meet-and-greet, allowing everyone to get to know each other before the speed dating rounds begin. During the speed dating portion of the event, 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. Register before we sell out!

Husker Football Tailgate and Watch Party on August 31st: Husker season is here! Join others for an exciting day of football, food, and fun at the Husker Football Tailgate and Watch Party. You can expect a lively tailgate atmosphere with delicious food and drinks. Featuring pregame and halftime entertainment. Grab your friends and family and head over to the Husker Football Tailgate and Watch Party to cheer on the Huskers!

Nelson Produce Farm to Table – Sunflower Edition on August 25th & 26th: It’s a night you will always remember in the sunflowers! This farm-to-table dinner is a unique and magical event unlike any other event you will experience in the Midwest! As the sun sets and lights up the Nebraska sky, the twinkle lights come on and make you feel like you have escaped the world for just a few hours in the sunflowers! Dinner will feature a unique meal that gives you a tour of Nebraska Local products! Surrounded by thousands of bright sunflowers, your friends and a farm fresh meal. What more could you ask for?

Hippie Fest – Nebraska 2023 on August 26th & 27th: Hippie Fest is a family-friendly arts festival featuring vibrant entertainment for all ages. Everyone is invited! Coming to Falconwood Park in Bellevue on August 26th & 27th. Featuring live music, bohemian shopping, vintage hippie car show, DIY tie-dye, giant bubble garden, cirque performers, kids activities, drum circles, delicious food and more. All ages welcome. Kids 10 and under free. It’s groovy baby!

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.

Children’s Hospital & Medical Center has appointed Renee Rafferty senior vice president of behavioral health. She will oversee the new Behavioral Health & Wellness Center just starting construction near 85th & West Dodge Road. Rafferty most recently served as senior director of behavioral health services for Providence Health in Anchorage, Alaska.

Frankel, LLC has promoted Mike Mason to senior tax manager. A Certified Public Accountant, Mason joined the firm in 2020. He holds a Bachelor of Science degree in Accounting from the University of Nebraska at Omaha.

CrossMed Healthcare has hired Sara Orr as Chief Marketing Officer. She was previously working founder and CEO of Omnio Marketing.

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

The theme of this week’s jibber jabber is, “Much ado about nothing.” During the 1990s if you were one of the bitchin’ investor people, you spent your time fawning over Buffett’s every move. That train left the station over a decade ago, but not all the Buffett wannabes got on board.

This week there were a number of articles documenting Berkshire’s second quarter stock purchases. The tone of these reports was reminiscent of the earlier fawning days and exhibited a lack of insight to the fact that Buffett and most investors have moved on.

To set the record straight, it’s been more than 20 years since Buffett has been totally hands-on with the Berkshire investment portfolio. He turned those duties over to the two T’s – Todd and Tim – many years ago. However, don’t for a moment believe that these guys could make a major change without Warren’s consent.

The first two purchases covered by the press were the residential construction companies Lennar and NUR. Let’s do a little math to put them into perspective. Berkshire bought $18.9 million worth of Lennar and $64 million of NUR. Berkshire’s total stake in publicly traded equities is in the neighborhood of $400 billion. So, these two combined move the needle about one, one-thousandth of a percent – not an epic move on Buffett’s part. Berkshire also added $4.5 billion to their existing $10 billion stake in Occidental Petroleum.

Digging deeper into the balance sheet, you will find that Berkshire has close to $100 billion in cash and cash equivalents. Translation: If you are one of the Buffett geeks who makes your investment decisions based upon Buffett’s moves, you should have 20 percent of your portfolio in cash.

I attended a talk Buffett gave on June 11, 1992. I took notes. When an attendee asked “What stocks should I buy,” Buffets responded without hesitation, “The Vanguard S&P 500 index fund.” He was well ahead of the curve about future importance of index funds. Do as he says, not as he does.

Now back to Mr. Market and the Gnomes. So far in 2023, the market has performed significantly better than its historic norms. The NASDAQ leads the pack by at least 20 furlongs. But do not ignore the recent spike in the Dow following the big tech stocks’ fall from grace.

For the month of August however, Mr. Market seems to have headed to the Jersey shore to bask in the sun. The Gnomes expect no dramatic change in the near future. While their mantra remains, “forget the needle, buy the haystack,” they are keeping a close eye on Buffett’s four-letter word: CASH.

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.

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.

Support the Grow “O” Mission

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