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Weekly Market Report – August 31, 2023
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Restaurant & Retail Updates
Oklahoma Joe’s has opened the drive-thru portion of its new west Omaha location near 204th & Pacific Street. The dining room will open for business Wednesday, September 8th. Oklahoma Joe’s has an existing restaurant at Aksarben Village.
Signage is now in place for R.U.B. Rotisserie Urban Bistro, which is planned for the former Greenbelly space in the HDR headquarters building at Aksarben Village. R.U.B. will be operated by Carlos Mendez of Au Courant Reginal Kitchen in Benson.
Copps Pizza held a grand opening last weekend for its new 6,916 sq. ft. location in Overland Park, Kan. Copps Pizza’s three existing locations are in the Omaha area at 180th & West Center Road, 72nd & Jones Street and in Shadow Lake Towne Center.
Interior buildout is underway on a Dirty Dough cookie shop and a Jersey Mike’s sub shop that will be next door to each other in a new retail strip just south of Embassy Suites and east of Cabela’s in La Vista’s Southport West area.
Shadow Lake Towne Center in Papillion is about to welcome four new retailers. Skechers, Dogtopia and Carter’s will open next to one another between an existing Subway restaurant and Five Below store. Skin Experts will open next to Bath & Body Works. Skechers expects to open by the end of October. The other retailers have not yet announced opening dates.
New retailers have opened at Westroads Mall: Claudette Quinceanera Boutique is on Level 1, while Game Exile has opened on Level 2 near J.C. Penney.
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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: Reliable Italian at Cibo Vino might be just the ticket for 11th & Jackson corner
It’s been a few years since I have been excited about eating on the corner of 11th and Jackson, one of those charming Old Market destinations that has the potential to draw diners like a moth to a flame.
After two visits to Cibo Vino, the latest restaurant to take over the bay formerly occupied by The Collins, J’s on Jackson and Passport, color me pleased.
Reliable Italian might be the thing to finally find success on this corner, complete with nicely executed pasta, fresh takes on Italian classics and a bar that can execute a craft cocktail.
If you’ve ever dined at this spot, you’ll recognize the space, which still has a more formal dining room to the west and a window-lined bar to the east: Like me, most diners seem to prefer that well-lit, welcoming bar to the darker, more formal dining room.
Cibo Vino — which translates to “food” and “wine” from Italian — is more casual than some of the previous restaurants in this spot, but still nice. To me, it feels on the same level as Gather, another recent Old Market opening that’s found success.
I found myself particularly impressed with the kitchen’s pastas, cooked just to al dente and served nicely seasoned with flavorful sauces, like a simple cacio pepe one night, made with good olive oil, lots of cracked black pepper and both pecorino Romano and Parmesan cheese.
Another night, we tried the bucatini amatriciana, a traditional sauce of tomato, crispy guanciale, which is an Italian cured pork cheek, and pecorino, amped up with some kicky calabrian pepper, which brought a pleasant spiciness to the dish.
Pastas come in two sizes: smaller portions for sharing, as a first course, how it’s done in Italy, and larger, entrée-sized pastas. I appreciate the flexibility of the menu.
We tried a couple of our favorite classic cocktails — a Negroni and a Manhattan — and found both nicely executed and served as ordered. Basil pops up several times on the drink list, including in a “basito,” billed as an Italian mojito, and in a lemon basil martini, too.
The burrata caprese, billed as a salad but more of a cheese plate, is lovely, served with some late summer heirloom tomatoes, both fresh basil and a basil pesto and a drizzle of balsamic reduction. It doesn’t come with bread — maybe my one complaint — so we added on the $4 order of house baked rosemary focaccia.
Though I’d prefer if a couple slices came with the cheese, I have to admit: the bread is worth the minimal charge. It’s seared on a grill and served with olive oil and some Parmesan cheese; even without the burrata, it’d be a fine side, as we used the large slices to drag through several other sauces, too.
Cibo Vino is co-owned by Wendy Becker — a Spezia alum — and executive chef Don Doty, who now works at Rotella and opened the former Taste, in Rockbrook Village, and Foodies, off 78th and Cass. The two have been friends for 25 years, Becker said, and decided they each had “one more restaurant in them.”
So far, it’s been busy, Becker said.
“The patio is literally the best people watching spot,” she said, “and the windows in the bar, too. I always liked coming down here. I love the feel of the building. When the lights are dimmed at night, it just kind of glows.”
The patio was abuzz when I visited, too, and I have to agree: it’s pretty inviting during golden hour.
The entree menu includes several seafood selections, like the crisp-skinned fennel citrus salmon we tried the first evening, served with a bright sauce and fennel, tomato and green pepper. We both really enjoyed the menu’s higher-end takes on classic American Italian dishes like veal scaloppini and sausage and peppers.
The veal (admittedly, a cut I don’t see much these days) comes as a thin, sautéed cutlet topped with a marsala wine-based sauce. Capers bring a nice brininess to the dish, which gets finished with mushrooms, rosemary and seasonal vegetables; in our case, asparagus. (I’d rather see a different vegetable during high summer, but nonetheless, the asparagus was nicely cooked.)
I did notice one small detail on both the veal and sausage: someone in the kitchen might consider wiping the sides of the plates. Both our otherwise very pretty entrees and pasta dish had plate edges littered with splashes of sauce and out-of-place herbs and cheese.
I really enjoyed the sausage and peppers, a dish that’s nostalgic for me, as it was regularly on the menu at home when I was a kid. The sausage is very nice here, loosely packed with a snappy casing. Paired with soft-crisp hunks of pepper in a flavorful sauce and a nicely executed side of well-seasoned polenta, I’d be back for this dish alone.
Cibo Vino is a nice, neighborhood Italian restaurant that I think fits well in the Old Market, filling a gap that I didn’t realize I wanted filled until I visited. I hope it can finally break the curse of this spot and thrive.
Tue – Thurs: 4p – 9p
Fri: 4p – 10p
Sat: 11a – 10p
Sun: 11a – 8p
The Big Story
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National Retail Brands in Omaha
In last week’s Big Story, we talked about national restaurant brands. This week we have a list of national retail chains that have recently opened or are planning to open locations in the metro area…
Fleet Farm – This Wisconsin-based retailer plans to build stores at 183rd & West Maple Road as well as 192nd & Highway 370. Each store is expected to be 150,000 sq. ft. Fleet Farm, which sells outdoor, sporting goods, farming, pet care, hardware, home goods and other products, has approximately 50 stores in the upper Midwest.
J. Crew Factory Store – This apparel retailer has a long-standing store at Nebraska Crossing but is now preparing to open a second one a Regency Shopping Center.
Ross Dress for Less – This California-based chain of discount stores has multiple existing Omaha area locations, but a new one is under development in a former Big Lots space at 717 South 72nd Street just east of Nebraska Furniture Mart.
YETI – This Austin, Texas-based retailer opened a flagship retail store earlier this year at Nebraska Crossing. It was only YETI’s 14th location in the world. The closest previously existing YETI location was in Chicago.
Rowan – This New York-based company opened its first Nebraska or Iowa store at Village Pointe this summer. Rowan does ear piercings, all of which are conducted by licensed nurses. The closest previously existing locations are in Minneapolis and Chicago.
Amazing Lash Studio – This personal care business recently opened its first Omaha location in the Shoppes of Aksarben at 1110 South 72st Street. The nation’s largest lash-and-brow services franchise, Amazing Lash Studio has 275 locations in 30 states.
Perspire Sauna Studios – This business plans to open a second metro area location at 18122 Wright Street. 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.
Athleta – Part of Gap, Inc., this athletic apparel retailer opened a second Omaha-area store this summer at Nebraska Crossing. Athleta is also at Village Pointe Shopping Center.
The UPS Store – In what will be a nice addition to downtown, The UPS Store plans to open in the former Takechi Jewelers space in the Keeline Building at 321 South 17th Street. The new retail space is part of Shamrock Development’s $6.8 million renovation of the historic 7-story, 61,000 sq. ft. Keeline Building.
Lululemon – This ultra-popular athletic apparel retailer opened a 4,500 sq. ft. store earlier this year in the former Paradise Bakery & Café space at Regency Shopping Center. The Vancouver, Canada-based brand has an existing Omaha location at Village Pointe. Lululemon has approximately 500 stores worldwide.
Grow Omaha Snippets
Grow Omaha Snippets Sponsored by:
Construction is in full swing on AEF Academy’s three-court, indoor basketball facility at 99th & Portal Road in La Vista. Move-in is scheduled for the first part of October. AEF Academy is a youth basketball organization which stands for “Attitude, Effort and Focus.”
Dirt work started this week on the Behavioral Health & Wellness Center at Children’s Hospital & Medical Center at 85th & West Dodge Road. The $110 million, 4-story, 107,250 sq. ft. building is scheduled to open in 2026.
The Thomas Kimball-designed chapel at Duchesne Academy of the Sacred Heart, an all-girls, Catholic high school at 3601 Burt Street, has been completely renovated, according to MCL Construction.
Construction appears to be moving remarkably fast on the site of Omaha’s future flagship library on the southwest corner of 72nd & Dodge Street. Much of the site preparation looks to be done and crews are already drilling pilings. The 3-story, 96,000 sq. ft. library is scheduled to open in 2026.
Metonic Real Estate Solutions has completed construction of the second phase of Ravello 192, an “apartminium” project northwest of 192nd & Pacific Street. Phase II consists of 68 additional apartment units, which are already 90 percent occupied.
The Sarpy County Chamber of Commerce will hold a ground breaking September 19th for Founder’s Ridge Senior Living southwest of 126th & Highway 370 in Papillion. The site is just south of Werner Park.
CNBC determined the “minimum salary a single person needs to get by” in every state. The formula was based on 50 percent of income to cover life necessities, 30 percent toward discretionary spending and 20 percent for savings. Single Nebraskans need $49,009 per year. In Iowa, it’s $48,518. Hawaii is the highest at $112,411. Mississippi is the lowest at $45,906. The U.S. median is $57,200.
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:
Berkshire Hathaway CEO Warren Buffett turned 93 this week. The Oracle of Omaha was born August 30, 1930.
A recent Fortune article highlighted one of Buffett’s best investments: the midtown Omaha house he bought in 1958 for $31,500. “The home is now worth over $1.4 million, which at roughly 4,300% is a trademark Buffett rate of return.”
Valmont Industries, Inc. has closed on its acquisition of HR Products, a wholesale supplier of irrigation parts in Australia. HR Products provides irrigation products to serve the agriculture and landscaping industries. The company was established in 1979, and “has grown a proven distribution network with robust operations across the country.”
Farm Credit Services of America awarded $601,040 in its “Working Here Fund” grants in the second quarter of 2023. The Omaha-based organizations has now awarded more than $7 million since 2013. Grants went to 130 non-profits to support agriculture and rural communities with projects that address agricultural education; young and beginning, hunger and nutrition; or rural disaster assistance and essential services.
Omaha Steaks is partnering with Ace Hardware on a retail promotion. Customers who purchase a grill in September from participating Ace stores will receive an online code that can be redeemed for a barbeque package from Omaha Steaks.
John Meyer and Ed Petsche of NAI NP Dodge represented the seller in the sale of the former Johnson Sash & Door Company at 1412 Military Avenue. The 14,550 sq. ft. building sold for $635,000.
Let’s hope they change the name – Maverik, a Utah-based convenience store chain, has closed its purchase of Iowa-based Kum & Go, which has multiple Omaha-area locations. With the acquisition, Maverik has nearly 800 stores in 20 states.
Simplify, LLC this week released a report on the Best States for Small Business Taxes. Nebraska is the 17th worst. Here’s how Nebraska ranks in each tax category affecting small businesses: corporate tax (#33); personal income tax (#39); property tax (#39); sales tax (#21); unemployment tax (#1). The top five states are Nevada, South Dakota, Washington, Wyoming and Texas.
Verizon is making it easier to block spam text messages sent by random email addresses, according to The Verge. You can now text “Off” to 4040 to stop receiving texts from emails altogether.
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
Want to be a better leader? TeamBuilding.com recommends you recognize employee achievements. Empowered employees are more productive. Delegate not just the little things. Your people become more effective – and loyal – when they get assignments of consequence.
Amazon might be next up in the return-to-office debate, according to The Hustle, with CEO Andy Jassy telling employees who wish to stay home that it’s “not going to work out.”
Here are the median 401(k) balances by generation from Gen Z to Boomers, according to Financial Samurai: Gen Z = $2,500; Millennials = $15,500; Gen X = $44,000; Boomers = $61,200.
Attention Sales Leaders – You may need to resist the urge to be your company’s “firefighter in chief.” Why? Because, as a sales leader, you are results-oriented, have a competitive nature and like to compete. Problems are best solved at the lowest possible level.
Not every company has the time or budget for in-person sales training. That’s why my partners and I created BragBird, a 24/7, cloud-based sales-training program. I strongly recommend you take it for a test drive – Try a free sample module HERE.
Sixty-seven percent of lost sales are a result of salespeople not properly qualifying potential clients before taking them through the full sales process, according to Spotio.
Here’s a useful question you could ask a B2B prospect: “How do you see your business needs changing as your company evolves?”
Most people do not listen with the intent to understand; they listen with the intent to reply.” – Stephen R. Covey
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Did You Know?
Surprising Facts, Figures & Points of Pride That Make Omaha Unique
This section is sponsored by Lockbox Storage.
Did you know that four Fortune 500 companies are headquartered in Omaha? Berkshire Hathaway #7, Union Pacific #163, Peter Kiewit Sons’ #313, Mutual of Omaha #324.
Did you know one of the most important industries in Omaha’s early 20th Century history was “jobbing,” which was a term for warehousing and distribution? It’s what the Old Market district was before it became what we know the Old Market to be today! Jobbers Canyon was the downtown warehouse district on the National Register of Historic Places that was destroyed in the late 1980s to make way for ConAgra’s corporate campus.
Did you know approximately 1.5 million people live within a 50-mile radius of downtown Omaha?
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
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FURst Friday on September 1st: Benson has gone to the dogs! This FURst Friday they’re celebrating their Best Furry Friends! Bring your best pooch down to the Benson Creative District and enjoy a doggies’ day out. There will be lots of doggy treats to explore and a pop-up dog park for your furry friend to play in. Make sure to check out the BFF Summer Artist market which will be happening for the last time this summer in the Benson Creative District. Check out the live DJs, local art and other treasures before the summer ends!
2023 Septemberfest September 1-4: The annual Septemberfest has been a tradition for more than 40 years, and it’s back for another year of fun! Expect entertainment for the whole family, music performances, a lively Labor Day Parade and more. Over 20,000 people attend the event and even more attend the parade. Come out Labor Day weekend for food, entertainment and attractions everyone will enjoy!
2023 AfroFest Omaha on September 2nd: Come celebrate this year’s fifth annual Afro Fest Omaha Saturday, September 2 from 2 p.m. to 10 p.m., at Stinson Park in Aksarben Village. This year is an all-out event, turning the park into an Afro rhythms destination with thrilling local and international performances of live music and dance. Enjoy vendors with an array of arts, crafts, jewelry, and of course, authentic African cuisine! This is a family friendly and inclusive event. Come one, come all, and celebrate African culture!
Geeks Who Drink Trivia Night at Backlot Taphouse on September 6th: Modeled after pub quizzes in Ireland and the U.K., Geeks Who Drink is an authentic, homegrown trivia quiz. It’s a great way to drink with friends without burning brain cells. And it’s where useless knowledge means everything. Teams can be up to six players, so bring your smartest friends – or even come solo and there will be people there to help you join a team! No reservations needed; just show up!
Millwork Moves | Yoga in The Prairie on September 7th: Millwork Commons is hosting another free yoga event! Open to all levels for a fun and challenging class out in the Prairie. This event is happening every Thursday in September and will remain free. Bring your yoga mat, a hydrating drink, and join in the fun!
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
NP Dodge Real Estate has welcomed new residential real estate agents including Guadalupe Elton, Lorena Manfredi and Rod Combs.
Buildertrend recently appointed Jon Walker as Chief Technology Officer. He has more than 30 years’ experience in technology leadership roles. As co-founder and former Chief Technology Officer at AppFolio, he steered the company through its initial public offering in 2015.
The Omaha Community Playhouse has appointed Rebecca Noble as executive director. She is a longtime Omaha performer, educator and arts leader. Noble had been serving as interim executive director since August 7th.
Andrew Osborn has joined Koley Jessen’s banking & finance team. He earned his J.D., M.B.A. and B.A. degrees from the University of Iowa.
The Housing Federation for Sarpy County has appointed Brian Thomas of NAI NP Dodge to lead its Affordable Workforce Housing Initiative. He will spearhead the foundation’s efforts to address the need for affordable housing for the local workforce, driving economic development and fostering community growth.
Charlie Yin, owner of Hiro 88 and Local Beer Patio and Kitchen, has joined Lincoln-based Cornhusker Bank’s Omaha advisory board.
Blue Cross Blue Shield of Nebraska has promoted Ron Rowe to executive vice president and Chief Revenue Officer and Gretchen Twohig to executive vice president and Chief Legal Officer.
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.
This week’s theme is two-year old rug rats. My impression of two-year-olds is that they are emotional, irrational and are subject to erratic mood swings. With some very slight modifications, this is an apt description of Mr. Market’s antics over the past several weeks.
The first schlimazel involved Nvidia‘s earnings report. Nvidia is a is not a household name, but it has grown into one of the largest players in the AI revolution.
Nvidia released their earnings after the close of the market, and the numbers were billions higher than the mental giants on Wall Street had predicted. The afterhours trading exploded, and within minutes, the stock price rose more than 15 percent. When the market opened the next day, this trend continued for about 30 seconds. Before long, the share price had retraced its previous path into negative territory.
This is important because all of this activity has pushed Nvidia’s market cap past the trillion-dollar mark, placing it in rarefied air. With a $1 trillion valuation, it has the power to push both the NASDAQ and the S&P around, along with its other mega-cap cousins, Apple and Amazon. Not to worry! Passive investors just sit tight. Involved index fund investors, take advantage of Mr. Market’s mood swings and don’t get gobsmacked when he abruptly reverses course.
The second episode in Mr. Market’s hissy fit came in conjunction with the Fed Chairman’s optimistic comments at the billionaires’ gathering in Jackson hole Wyo.
As an indication of how the market in general – and the bond market in particular – feel about the Fed and their jibber jabber, just look at the yield on the 10-year Treasury bond. During the Fed’s previous 12-month period of rate hiking and lip flapping, the yield on the 10-year treasury remained at a benign level under 4 percent. However, following the Fed’s recent dovish actions, the market determined that the prospects for interest rates remain higher than the Fed wants to admit. That pushed the 10-year yield to its historic high of 4.3 percent. So much for the Fed’s power to micromanage.
When I approached the Gnomes seeking confirmation of my evaluation of Mr. Market as a two-year-old, they responded favorably. They added that when Mr. Market gets stuck in these periods of mindless mood swings, the best way to deal with him is to concentrate on more important things such as pickle ball and beer. They did however offer a strong buy recommendation – a coffee mug with Trump’s mug shot on it (Pun intended).
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