Weekly Market Report – December 1, 2022

Grow Omaha is proud to deliver this market report to you each week. This would not be possible without the support of our sponsor, The Offices at Turner Park!

A Northern Italian-inspired woodfired pizzeria is slated to open in Millwork Commons this spring. Dolomiti Pizzeria & Enoteca will offer woodfired pizzas, cheese and salumi platters, panini sandwiches, and salads. The restaurant will be inside the Ashton building at 1229 Millwork Avenue. Opening is scheduled for May.

Mercato Butcher Shop, a Lincoln retail store and butcher shop selling certified Piedmontese beef, plans to open an Omaha location near 168th & West Maple Road in the first half of 2023.

Kamp Blackstone is now open in the renovated former Switch Food Hall at 3618 Farnam Street. Kamp is a new kind of food hall that includes a bar and four food options. Single-Double, a burger concept, is already open. Over the next couple months, three other food concepts will open: Kamp Concessions, Angelwingz and Nice Rollz.

Mercer & Sons Delicatessen opened about two weeks ago at 509 South 11th Street in the Old Market just north of La Buvette Wine & Grocery.

The Cookie Co. will open its doors at 10 a.m. on December 3rd at 11922 Standing Stone Drive in Gretna. The Shop includes a drive thru. The store has nine existing locations in California, Texas and Utah.

Hokkaido Ramen House has opened at 1303 South 72nd Street in the Shoppes at Aksarben. The ramen restaurant is located in the former Okra African Grill space which had earlier moved north to a space near Nebraska Furniture Mart.

Isla Del Mar, the popular seafood restaurant at 5101 South 36th Street recently posted this on its Facebook page: “We want to thank everyone for your patience. We are just weeks (from opening) our second Isla Del Mar location. We appreciate the feedback and constant messages asking when our opening date is. We promise to let everyone know as soon as we know…”

PepperJax opened a new location earlier this week near U.S. Highway 6 & Bryan Street in Gretna. The restaurant is next to a recently opened Fareway store.

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

Gretna Golf Club Lands on Prestigious List

The brand-new Lost Rail Golf Club was ranked #4 in Golf.com’s recent article headlined, “These 6 New (or New Look!) Courses Have Us Giddy for Their 2023 Reveals.”

Here’s what article said:

“4. Lost Rail Golf Club, Omaha, Neb. – Nebraska is a bustling frontier of American golf, but many of its courses, including the Prairie Club, Sand Hills, Dismal River and CapRock, are remote. Lost Rail is 30 minutes from downtown, on a landscape that ranges from rolling pasture to craggy, ravine-spliced terrain. Opened to its members this past fall, the club wasn’t ready for GOLF’s U.S. Top 100 ballot, but a few of our spies saw it and came away impressed.”

The private course was recently completed and is located near the Elkhorn River at 23232 Cary Road in Gretna.

According to Lost Rail’s website, the course “blends the exclusivity and intimacy of a destination course with the convenience and character of a classic club.”

The other golf courses to make the list here:

1. Lake Merced Golf Club, San Francisco, Calif.
2. The Brambles, Middletown, Calif.
3. The Lido Golf Club, Nekoosa, Wis.
4. Omni PGA Frisco Resort, Frisco, Tex.
5. The Tree Farm, Batesburg, S.C.

This section is sponsored by TR Construction. With over 25 years of commercial concrete construction experience, TR Construction has expertise with projects large and small to include commercial building concrete, footings, paving, remove and replacement of concrete, industrial projects, and special projects for clients. TR Construction can deliver Concrete Excellence on your next project. Learn more HERE!

Demo has started on houses and a commercial building near Saddle Creek Road and Mason Street (southwest of the UNMC campus) for the 195-unit apartment project that will also have two commercial pad sites.

The Hy-Vee grocery store located American Interstate Place (southwest of 156th & West Maple Road) plans to add a 33,782 sq. ft. micro fulfillment center to be constructed on a grassy area west of the building. The center would have six customer pick-up lanes and a truck loading area.

Two businesses are confirmed for the new Waterford Crossing building northeast of 156th & Ida Street. Big Red Neighborhood Grill & Sports Bar will lease 10,500 sq. ft. on the east end. Bussey Physical Therapy will occupy 1,800 sq. ft. on the west end.

The Let It Fly Show, a new sports podcast, will launch after the Creighton vs. Nebraska basketball game on December 4th. Hosted by Mike’l Severe and Josh Jones, the show will initially broadcast live from the Hail Varsity Club in La Vista. Eventually, the show will originate from a glass-enclosed studio inside the 10,000 sq. ft. Let It Fly sports bar currently under construction in the Capitol District. The bar is scheduled to open Memorial Day weekend.

According to Domino magazine, Omaha will be one of the nation’s top destinations next year for people looking to move. In an article entitled, “Here’s Where Everyone Will Be Moving in 2023,” Domino analyzed year-over-year home sales growth across 100 metro areas in the United States. Here are the projected 10-fastest growing destinations:

1. El Paso, Texas
2. Columbia, South Carolina
3. Hartford, Connecticut
4. Buffalo, New York
5. Little Rock, Arkansas
6. Louisville, Kentucky
7. Baltimore, Maryland
8. Omaha, Nebraska
9. Harrisburg, Pennsylvania
10. Columbus, Ohio

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.”

Real Estate News from CoStar – The total number of shoppers from Thanksgiving Day through Cyber Monday increased by nearly 17 million from 2021 — up about 9 percent from 179.8 million — and marked the highest figure since the National Retail Federation started tracking that data in 2017. Retailers enjoyed a sizable spike in in-store shoppers. More than 122.7 million people flocked to brick-and-mortar stores over the weekend, up 17 percent from 2021.

Meta, parent company of Facebook, is reducing its real estate footprint, according to Bloomberg, deciding against renewing a 250,000 sq. ft. office lease in New York City’s Hudson Yards district. Locally, Facebook operates several million sq. ft. of data center space in Sarpy County.

The Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, fell below growth neutral for the first time since early in the pandemic, May 2020. The index, which ranges between 0 and 100, with 50.0 representing growth neutral, sank to 48.0 from 53.1 in October. Also concerning – the index has registered two straight months of job losses.

TryHard Logistics has leased 40,926 sq. ft. at 4330 South 102nd Street, according to John Meyer of NAI NP Dodge, who represented the tenant. TryHard provides warehousing and shipping services from parcel to supply chain management in North America.

The Joint Chiropractic is holding a ribbon cutting today for its office at 3808 Metro Drive in Council Bluffs.

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!”

The Cost of Waiting for Mortgage Rates to Go Down

By Joe Finlay

The Federal Housing Finance Agency (FHFA) released their metro housing price index for the 3rd quarter of 2022, and Omaha ranks 51st among the top 100 markets.

Single-family housing prices in Omaha are up about 11 percent over the same time last year, but prices remained flat when comparing the 3rd quarter to the 2nd quarter of 2022.

The state of Florida had 8 markets in the top 10 with an average yearly increase of about 23 percent. Oakland and San Francisco were the only two cities that experienced a negative gain compared to last year.

Since 1991, the national compound annual growth rate for house prices has been 4.4 percent, and since 2012, it has been 7.7 percent. That means, on average, housing prices have increased more than 7 percent per year for the past 10 years.

Bottom Line

Omaha traditionally ranks in the middle of the pack in the FHFA quarterly report. This shows that housing prices in Omaha have weathered the storms over the years, avoiding any severe drops in value. Each neighborhood can experience different pricing gains. Let’s connect and talk about the value of the houses in your area.

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

Compiled by Grow Omaha co-founJeff Bealsder and sales trainer 

Leadership & Management

When we hear the term “national search,” it can often be a reflection of the egos of those who are asking for the search, according to MindSet, LLC, a Bellevue-based leadership consultancy. It’s more impressive to tell others that they are at the helm of a “national search” process.

However, there is great value in being able to promote internal or local talent. When you promote locally, that newly promoted executive comes into their new role with an understanding of the culture of the company and an appreciation for the broader community in which the organization operates. Ignoring this significance is where most get it wrong.

There are only three ways to acquire top talent, according to author Anthony Iannarino. The first way is to buy it. The second way is to build it. The third way is to use both strategies together. Consider for a moment the investment in time and money required to develop talent. It’s expensive, difficult, and time consuming.

One mistake companies make is refusing to buy the talent they need, Iannarino says. The common reason leaders don’t do this is because they don’t want to dole out the compensation top talent commands. They also worry about making a mistake by paying more without getting a return on the investment.

Attention Business Travelers: Airline, hotel and food service employees are demanding higher wages and appear to be willing to strike to get them, according to Steve Glenn of Lincoln-based Executive Travel. Delta pilots this fall have voted to authorize a strike if negotiations break down. Pilots at United Airlines and American Airlines appear willing to walk if the airlines don’t pay up. Not only will strikes lead to higher travel prices, they could disrupt leisure and business travel.

Sales

Sometimes you have to “de-educate” your clients, according to sales author Mark Hunter: “Many times you’re dealing with the customer’s preconceived notions. They’ve already done their homework, or they’ve been buying from your competitor, and they have all these ideas. Not all of them are correct, true or helpful.”

After you de-educate, you’re then ready to educate. “If I try to educate before I de-educate,” Hunter says, “it goes right over their head.”

Wisdom

“In war there is no second prize for the runner-up.” – Omar Bradley

“If you want to change the world, pick up your pen and write.” — Martin Luther

Grow Omaha University is sponsored by MyStaff Inc, a locally owned staffing firm whose purpose is helping Nebraska companies recruit for corporate office positions.

My Staff Inc – Our team helps you find yours!

Regional Photography Biennial December 1st – January 29th: This exhibit features 93 artworks representing a variety of photographic styles. Categories include Abstract/Conceptual, Animals, City/Street, Landscape, Nature, People, Photojournalism, and Still Life. The 2022 Regional Photography Biennial is a new program from Gallery 1516, a non-profit organization dedicated to supporting Nebraska and Regional artists. Experience the artistic talent of local and nearby artists!

15th Annual Holiday Beerfest on December 3rd: This holiday season calls for all the fun! Crescent Moon is hosting a holiday themed tasting with beers from some of your favorite breweries. Make your way through the decorated bars, tasting all your favorite holiday beers (and some new ones). Many brewery reps will be on hand pouring. Make sure to bring your ugliest sweater to enter the Ugly Sweater Contest!

The Nutcracker on December 3rd and 4th: Appreciate the fresh, lively and entertaining performance by professional artists! The Orpheum Theater will have a live performance of The Nutcracker on December 3rd and 4th. Student dancers from across the metro area will be performing this charming story featuring over 250 beautiful costumes.

KETV Family Festival on December 4th: Enjoy a day of free family-friendly holiday activities at Omaha’s favorite downtown attractions! Ollie the Trolley will be transporting your family from selected venues downtown to experience something new at every place. Meet Santa Claus and his elves, participate in holiday activities, enjoy story time, and much more!

Holiday Market 2022 on December 4th: Shop with local vendors while listening to some of your favorite holiday music and stop by one of the fire pits for a quick warm up! Enjoy the German Gluhwein, Peppermint Hot Cocoa and Holiday Beers. There will also be roasted Bavarian Candied Nuts, bratwurst and other street foods!

AAF Nebraska Holiday Party “Mingle All The Way” on December 7th: Each year, the American Advertising Federation Nebraska (AAF Nebraska), hosts a holiday party and silent auction to benefit a local non-profit organization and AAF Nebraska’s mission. This year AAF Nebraska is supporting the Omaha Academy of Ballet! Join the party and have a chance to win raffle prizes!

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.

Burlington Capital has promoted Mary Blaney to vice president of finance. She previously served as the company’s corporate controller since 2017. Blaney previously worked for accounting firm RSM US LLP. A Certified Public Accountant, she graduated with a Bachelor of Science degree in Business Administration with a major in Accounting from the University of Nebraska at Omaha.

Tiffany Heithoff has been named director of client relations for Craft LifeStyle Management, a company that helps senior with living transitions. Heithoff has extensive experience in the industry and holds a master’s and bachelor’s degree from the University of Nebraska at Kearney.

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 holidays are tough on Kramer and his Wall Street munchkins. Not a lot is going on in finance land, and he has to fill 12 hours of air time with jibber jabber.

Not to worry! The collapse of the crypto poster child FTX, has given them something to yammer about. Not to be outdone, the Gnomes and I did some precursory research on crypto and why it has become the investment catnip for millennials. I will begin with a disclaimer: I am as knowledgeable about crypto as I am about prom dresses.

Google defines cryptocurrency as an alternative to traditional physical currency. Crypto currency is totally electronic, so we don’t have to carry money around. Daah? Been there, done that. Every month the government wires a Social Security pittance to my checking account, so I can buy stuff on Amazon with my debit card.

Our initial investigation gave us the impression that cryptocurrency is another marketing gimmick ginned up in a Wall Street back office. They then unloaded on a bunch of snot-nosed brats sitting in their parent’s basement, who see it as the yellow brick road to fame and fortune.

If you follow CNBC, you know that they give minute-by-minute quotes on Bitcoin right next to their quotes on the Dow. What causes the fluctuation in the price of crypto is less clear than what causes the neighbor lady’s hair to change color every week.

An important question following the implosion of FTX is, who are they going to take with them? We will get some insight once their filling is sent to the bankruptcy court.

According to the Wall Street Journal, the FTX level of fiscal discipline equals that of a kindergarten classroom at recess. Initial reports are that the collapse of FTX will have minimum impact on the real financial community. This is because the adults in the room didn’t want to do business with the crypto snake oil salesmen. The only collateral damage from the FTX debacle appears to be to other crypto companies and a few hedge funds. But this is no big deal, because we lose hedge funds faster than the Cornhuskers loose football games.

The next question is: where do we go from here? Over the meadow and through the woods to grandmother’s house we go! Sorry, I was overcome with the holiday spirit. The smart money is that the next move will be in Congress when Warren and Sanders throw a hissy fit. Stay tuned for the next shoe to drop. In the immortal words of somebody: “Reality eventually replaces delusion.”

BREAKING NEWS: The WSJ just reported that BlockFi – another sleight of hand crypto company – is financially intertwined with FTX and it too has filed for bankruptcy.

Q: What do the following businesses have in common?

• Rexius Nutrition
• Sea Thai
• Stories Coffee Company
• Milan Laser Hair Removal
• Visit Omaha

A: They’re all opening at Midtown Crossing! For updates and details on each, be sure to bookmark MidtownCrossing.com and check back often.

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 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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