Weekly Market Report: December 26, 2024

Nicole Buntgen, Contributing Writer

Cups Café will host its grand opening on January 7 at 8501 North 30th Street in the Florence neighborhood. Located in the No More Empty Pots Food Hub, the coffee shop aims to support community self-sufficiency, food security and local and regional entrepreneurship.

Chipotle Mexican Grill has started constructing a 2,325 sq. ft., free-standing restaurant building in the Southport East development on the southeast corner of Giles Road and Southport Parkway in La Vista. The site is near an existing Hampton Inn and several other quick-serve restaurants. To the east is the CHI Health MultiSport Complex. The west is Cabela’s, Embassy Suites and Costco.

Bomb Taco, a local taqueria and cantina, has opened a new location at 5003 Underwood Avenue in the former Hoppy Taco space in Dundee. Bomb Taco also operates locations at 120 Olson Drive in Papillion and 12321 West Maple Road.

Chuanjui LLC, an African steakhouse, will soon open a 22-foot-long BBQ food trailer at 3424 North 90th Street in the Unity Church parking lot. Chuanjui has participated in local events like “A Taste of Africa” and “A Taste of North Omaha” and specializes in high-quality beef cuts with various Cameroon West African-inspired sides, sauces, stews, soups, rice dishes and more.

We have an updated opening date for Red Lotus Thai Express. The Thai and Asian fusion restaurant will open on January 2 at 1449 Papillion Drive in Papillion. Red Lotus will feature a mix of traditional and modern Thai and Asian fusion dishes, including menu items like Beef Pepper Steak and Spicy Tilapia

Trips Bar and Grill has opened at 7812 F Street in the former Starsky’s Bar & Grill space near 78th & F Streets. The establishment offers a variety of food and beverages and plans to host regular dart leagues and tournaments.

Big Grove Brewery & Taproom announced a spring 2025 opening at 795 South 48th Avenue in the University of Nebraska Medical Center’s Catalyst building west of Saddle Creek Road. The Iowa-based brewery will feature Omaha-exclusive craft beers, a modern patio, and a private dining space. Other locations include Solon, Cedar Rapids, Iowa City and Des Moines, Iowa.

Holly Purcell, owner of Skyybox Bar and Grill has purchased Pizza West, which has locations at 12040 McDermott Plaza in La Vista and 12301 West Maple Road in Omaha. “We’re thrilled to take the helm of such an iconic local establishment,” Purcell said. “Pizza West has always been about great food and a great community vibe, and we look forward to building on that legacy while introducing new ideas to enhance the experience for our customers.”

Construction has started on the canopy that will cover future gas pumps at a controversial Mega Saver gas station and convenience store in the former Fuddrucker’s restaurant space at 72nd & Dodge Street. Neighbors had opposed the planned opening. Gas pumps are being installed in the parking lot near an existing Scooter’s Coffee.

Party City is in the process of shutting down as a company and closing all of its 800 stores. The New Jersey-based retailer has two Omaha metro area stores, both of which are scheduled to close February 28th. The Omaha store is in Montclair Center near 132nd & West Center Road. The Council Bluffs store is at 3271 Marketplace Drive.

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’ Top 5 Restaurants of 2024

I really enjoyed eating my way through Omaha in 2024 and have met some amazing chefs, restauranteurs and incredible staff. The burgeoning culinary scene shows no signs of slowing down, despite some recent closures over the past couple years. I love that restaurants keep opening.

I’ve truly found something to love about every restaurant I’ve had the pleasure of reviewing this year. You’d think it would be the food that makes reviewing restaurants a rewarding endeavor, and you wouldn’t be wrong to think so. But what I’ve really enjoyed the most is the stories about how the restaurants came to be and the journeys chefs and owners have taken to get where they are.

Coming up with a top five list, or a top list of anything, isn’t easy. I read through my reviews, sifted through photographs and came up with the restaurants that offered the most flawless dining experiences.

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Site Preparation Starts for Streetcar Vehicle Maintenance Facility

Omaha Streetcar construction is essentially underway, although it is in the form of utility work and there has not yet been an official “groundbreaking” complete with the usual dignitaries posing at shovels.

You have probably noticed this utility work if you are ever along the streetcar line on Farnam or Harney streets between 39th and 10th streets. The current work, which started at the beginning of 2024, has been focused on replacing and rebuilding underground utilities (water, sewer, and power) so that the tracks can be built on the streets above.

The work ranges from utilities that need to be replaced very soon or are directly in the way of streetcar construction to utilities that will need to be replaced further in the future (10-plus years), but should be done now so that the streetcar operation is not impacted. Official streetcar construction, including getting the street ready for the tracks, will begin later next year. Early procurement of items for this construction has already been proceeding.

Along with this utility construction, workers are getting the site ready for the future Vehicle Maintenance Facility or VMF. This is the garage (bus term) or car barn (trolley term) for the streetcars. Similar to a garage for your house, it is important to have this facility located as close to the house, or track mainline, as possible. The site is near the CHI Health Center, using one of the parking lots to the south near the I-480 overpass. This takes advantage of land that would otherwise have limited development opportunities and is very close to the streetcar tracks.

Sadler Electric has started site preparation, which includes rebuilding the road access, parking and utilities to work with the new facility. A contractor will soon be selected to build the facility based on HDR’s designs.

The VMF serves several functions at once with the most two important being a place for streetcar operators to report and to maintain the streetcar vehicles. The VMF will be where streetcar operators start and end their day and will serve an essential safety role of making sure that operators are fit for duty.

The supervisors (of which there should always be one on duty at all times) will also report here and keep the system under control through a mobile device that tracks the system. There will also be offices for the streetcar managers, positions that will be under the private operations contractor.

The vehicle maintenance will include bays and overhead areas for maintaining the equipment to keep streetcars in good working order – space for light maintenance to complete any necessary repairs. The building will also have parts storage and training areas for mechanics as well as operators. Finally, the VMF will include a place to wash the streetcar vehicles and store them when not in use.

The close proximity to the streetcar mainline means that there will not be any deadhead miles to start and end public service each day. The streetcar stop at 10th & Capitol Avenue, essential in serving the nearby convention center and arena, will also be the stop for operators to report for duty throughout the day as the streetcar vehicles stay in public service.

Eric Miller is a senior transit planner at Felsburg, Holt & Ullevig, a transportation engineering and planning company.

Isaiah Ang, Contributing Writer

Maserati of Omaha and Alfa Romeo of Omaha will move from 6611 L Street to 11102 Dodge Street effective Monday, December 30th. Workers are putting the finishing touches on the new space, which was once a Cadillac dealership until it moved a couple doors to the west awhile back.

The Light the World Giving Machine, a vending machine that works in reverse, is open at Westroads Mall through December 31. Three machines are located in the Von Maur Court’s lower level. Omaha is one of 106 cities on five continents to host one of these giving machines.

The annual initiative is sponsored by the Church of Jesus Christ of Latter-day Saints. In the time it takes to swipe a credit card, anyone can donate items, such as clothing, food, hygiene products, school supplies and even livestock (goats, pigs, chickens), for those in need. Several local nonprofits are participating in the program.

The 50 Mile March Foundation has purchased 7 acres in Bellevue as part of its effort to establish the Community of Hope campus. The project will provide resources, shelter and support services to veterans and their families in the Greater Omaha area.

The campus will include a 20,000 sq. ft. community center; access to mental health, addiction recovery and employment services; programs focused on life skills and self-sufficiency; dedicated spaces for community partnerships and outreach initiatives; and transitional housing for veterans and families

Evolution Soccer, a youth sports organization, is opening a headquarters at 12040 McDermott Plaza, Suite 101 in La Vista’s Southport East area. The new office is just west of the CHI Health MultiSports Complex. The organization provides training and mentorship for youth athletes, ages 4 to 19, from across the metro area.

The Root Coworking plans to open in a new mass-timber office building in North Downtown. Interior build-out is underway on a 25,000 sq. ft. space inside the 4-story, 120,000 sq. ft. building at 1501 Mike Fahey Street. Opening is planned for May or June. The Oklahoma-based coworking office provider has two locations in Tulsa and one in Fayetteville, Ark.

Omaha Public Library’s downtown branch received Architect’s Newspaper’s 2024 Design Award for Adaptive-Reuse Education. Local architectural firms, HDR and TACKarchitects were recognized for their work on this project. The downtown branch opened at 1401 Jones Street in May 2023, serving the urban core after the former W. Dale Clark Main Library was razed for the Mutual of Omaha tower project.

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Noddle Companies will move its headquarters from Aksarben Village to North Downtown next year. The real estate development firm will move into its recently completed, 4-story, 120,000 sq. ft., mass-timber building at 1501 Mike Fahey Street. Noddle will maintain a small office at Aksarben. Fly Fitness is already open in the building.

Eppley Airfield’s terminal will transition to interim concession providers starting January 1st. The existing food-and-beverage businesses are closing permanently. The temporary replacements will be known as Runway 14R Bar & Grill in the north terminal and Runway 18-36 in the south terminal. Hudson will continue to provide retail service in both terminals. An entire slate of new vendors will open when the terminal is expanded and renovated.

NP Dodge Residential Sales has opened an appointment-only office for its real estate agents in the former Zipline Beer Lounge space northeast of 204th & F Street.

AMCON Distributing Company, an Omaha-based convenience and foodservice distributor, has declared a special cash dividend of $0.28 per common share. This cash dividend is payable on January 31, 2025 to shareholders of record as of December 30, 2024.

Business Travel – The U.S. Federal Trade Commission ruled this month to prohibit hotel “junk fees.” According to Business Travel News, the FTC ruling bans bait-and-switch pricing tactics in which base prices are displayed but surcharges are added later (think “resort fees”). Whether those fees actually will be eliminated is far from clear. The FTC rule has not outlawed the fees themselves, but simply will require retailers and sellers to disclose fees upfront, rather than at the end of the buying process.

While Nebraska and Iowa both reported a 0.1 percent increase in their unemployment rates for November, both remained well below the national rate, according to WOWT. Nebraska’s 2.8 percent rate remained the fifth-lowest unemployment rate in the nation, behind South Dakota, North Dakota, Vermont and New Hampshire. Iowa’s 3.1 percent rate was tied for 10th lowest.

Nebraska is the second-ranked state in America for highest percentage of Christmas shopping completed online, according to Nebraska Examiner. The number-one state was West Virginia. The article speculates that Nebraska’s vast rural expanses mean that brick-and-mortar stores are too far away for much of the state, thus compelling people to shop online.

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

A Look Ahead to 2025

By MIke Story

As we reflect on 2024, home affordability presented some unique challenges, but we’re optimistic about the opportunities ahead and remain dedicated to helping our clients navigate the market with confidence in 2025.

As we look ahead to 2025, we are excited about the positive shifts in the housing market. With home affordability improving and unit sales forecasted to rise, we’re confident that the new year will bring greater opportunities for both buyers and sellers.

There are various forecasts regarding mortgage interest rates and the increase in home sales. The general consensus is that mortgage rates will stabilize around 6 percent. This represents a shift toward more stability compared to the volatility of the past two years and is seen by experts as the beginning of a longer-term “new normal.”

The forecasts for housing unit sales vary significantly. The National Association of Realtors anticipates a 9 percent increase, while Fannie Mae and the Mortgage Bankers Association predict more modest gains of 4 percent and 6.6 percent, respectively. In contrast, Realtor.com is more cautious, projecting a smaller increase of just 1.5 percent.

We look forward to helping you navigate these changes and achieve your real estate goals in the year to come.

Grow Omaha Residential is developed and sponsored by Jill Anderson, President Residential Sales, NP Dodge Real Estate 402.255.5099 or jill.anderson@npdodge.com.

LEADERSHIP & MANAGEMENT

When people hear the word, “success,” they tend to think of an accomplishment or the attainment of a goal – a destination. But that’s just a measurement, or perhaps proof of success. Truly successful people learn to love the process and take joy in progress. Such a mentality is more sustainable than the short-term joy that comes from any one accomplishment.

Success requires constant learning, but asking too many questions can undermine your leadership, according to Harvard Business Review. For your inquisitiveness to be viewed as an asset, it should be perceived not just as mere learning but as a way to gather knowledge, add value, communicate effectively and make decisions faster.

It’s still tough to get workers back in the office. According to The Hustle, businesses that allow for flexible work have grown 1.6 percent since 2022, while those that have return-to-the-office requirements have grown by 1 percent.

SALES

Here’s a useful qualification question you could use when meeting with a prospect: “Do you currently have a budget allocated for this or will you have to make the case for one?”

In B2B selling, you need to know about consensus-building. It is more common than not that a group of people makes purchasing decisions instead of just one leader. Choosing a vendor often turns out to be a “consensus.” Even in small, privately held companies, the owner often defers purchasing decisions to lower-ranking employees or at least includes them. Throughout the sales process, sales pros need to ask about other stakeholders and push to meet with them. You don’t want to be blind-sided by an unknown, last-minute decision maker.

Stop looking for sales hacks and shortcuts, says sales expert Mike Weinberg. “There are no secrets or shortcuts to sales success; every top-producer I’ve ever observed has mastered the basics of selling. You would do better to spend less time searching for trick moves and the secret sauce.” Reinvest that new-found time working to create new opportunities.

When hiring new sales reps, what’s the number-one indicator of future success? Frequent past behavior. When selecting new sales reps, observe clearly and think deeply. Don’t be fooled by flash and glamour. Instead, focus on the basics and carefully examine exactly what candidates have done in their previous work. The way a person has frequently behaved in the past is probably how they will behave in future.

WISDOM

“Without continual growth and progress, such words as improvement, achievement and success have no meaning.” – Benjamin Franklin

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Did you know nearly 50 percent of land in the heart of Omaha is devoted to parking and that nearly 50 percent of those parking stalls are vacant at any given time? For an urban area, that’s a tremendous waste of real estate.

Did you know that visitor spending in Nebraska grew from $3.5 billion in 2019 to a record $4.6 billion in 2023?

Did you know that Boystown had an official pet in the early days? For Christmas one year, Father Flanagan gave the boys a puppy, which they named Carlo. When the dog passed away years later, he was stuffed and placed in the lobby of the first building. The boys petted him each day, and he had to be removed because he was falling to pieces. An author later wrote a book based upon the life of Carlo.

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Family Fun Night: Winter Carnival on December 30th: All aboard at Lauritzen Gardens for their themed family night! Some say the holiday season feels like a circus, and on their winter carnival family fun nights, it certainly will! Be entertained by a variety of performers from Forsefyre, create a carnival mask, enjoy a seasonal story, play games, get your face painted, and enjoy other activities featuring crafts, games, and holiday surprises, there’s something for everyone. It’s the perfect way to make special holiday memories in the magical gardens.

Singles Happy Hour on December 30th: Join others for the Smitten Singles Happy Hour! Come right after work, or stop by when you can at this open-house-style event. This event is open to everyone single, embracing all ages and backgrounds in a relaxed and friendly atmosphere, with no strict ratios – just the opportunity to meet and enjoy each other’s company. Register now to reserve your spot!

Noon Year’s Eve on December 31st: The Omaha zoo will be open on Tuesday, December 31st for daily admission from 10 a.m. to 4 p.m. Party with the animals and ring in the New Year with special activities for daytime visitors! Enjoy this fun family event without staying up until midnight.

NYE at The Granary on December 31st: Ring in 2025 in style at New Year’s Eve at The Granary – Nebraska’s most anticipated celebration! Join in for the third annual New Year’s Eve Bash and LIVE Midnight Ball Drop, a truly unforgettable night that promises to be the Midwest’s premier destination for ringing in the new year! Whether you’re looking for an intimate VIP experience, a lively dance party or a front-row seat to Nebraska’s only outdoor midnight live ball drop, there’s something for everyone!

First Thursday Downtown Omaha Art Walk on January 2nd: Explore a curated selection of galleries, each offering a unique glimpse into the imagination of local and regional artists. From contemporary masterpieces to avant-garde installations, there’s something to captivate every art lover’s soul. Indulge your senses as you wander from gallery to gallery, engaging with passionate artists and fellow art enthusiasts. Whether you’re a seasoned collector or simply seeking inspiration, the First Thursday Downtown Omaha Art Walk promises an unforgettable evening of discovery and delight!

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

The Omaha Farmers Market has named Kristen Beck, longtime project manager for the markets, as the new executive director, effective January 1. She succeeds Vic Gutman, who founded the market and served as executive director for 31 years.

Security National Bank has appointed John Lago as senior vice president and director of private banking. He has more than 20 years of private banking and wealth management, and in the past, has worked for United Missouri Bank, Mutual of Omaha Bank and Wells Fargo Private Bank.

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

Hardly a day goes by that I don’t run across a column that purports the ill-conceived notion that emulating Buffett will lead you to the pot of gold at the end of the rainbow.

So, the other day, when I turned to Jason Zwieg’s column and saw the title, “What You Can Learn From Young Warren Buffett,” smoke billowed from my ears like a character from a Popeye cartoon.

The article was about a book written by Brett Gardner, a financial analyst at Discerne Group, a private investment group located in Stamford, Conn. Gardner spent seven years of Saturdays and all of 2023 analyzing 10 stocks that Buffett bet on (Yes! The word Mr. Zweig used is BET) back in the 1950s when he was twenty years old.

Come on folks, that was 75 years ago. The economy and the market have changed dramatically. You no longer have to call your broker to get a stock quote. Five-year-olds can get them on their cell phone. Back in the day, trades were manned by octogenarians wearing blue coats with pad and pencil in hand. Today, trades are made by computers without human involvement. This guy and his academic buddies need to get out more.

Zweig’s article continues down the road to la-la land by listing the author’s sacred 10. Of the 10, eight never made it to the 1970s. They either went bankrupt or just disappeared. Included in this ignominious list are a Boston streetcar company, a barrel maker and a Philadelphia department store. I remember Buffett’s and Munger’s adamant pronouncement that their holding period was forever.

Gardner’s delusional tome devotes a significant amount of ink to documenting the hours upon hours Buffett spent researching these companies before purchasing them. Not only did he devour every ounce of public information on these companies, he also traipsed to their corporate headquarters to drill the companies’ officers. Zwieg sticks a fork in Gardner’s fantasy about applying 20-year Buffett’s methods to today by noting that corporate executives can no longer shared detailed financial information with individual investors.

As I continued my read through this mind-boggling story, I came upon a paragraph that returned my heart rate to normal and dissipated the smoke emanating from my ears. In an outright refutation of Garner’s outlandish supposition, Zwieg states with clarity and insight: “Today investors have a luxury that was unavailable to the young Buffett. They can put their assets into a market-tracking index fund. That way, they can be assured that their investments won’t underperform.”

It’s an approach Buffett has been advising anyone who would listen, since 1992.

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

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

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

Support the Grow “O” Mission

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