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Weekly Market Report – December 8, 2022
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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!
Restaurant & Retail Updates
Sea Thai opened last week at 3157 Farnam Street in Midtown Crossing. The locally owned restaurant is a sister concept to Mai Thai.
Rooted Table Kitchen + Juicery plans to open this spring at Countryside Village. The locally owned fast-casual restaurant will offer a 100-percent plant-based menu.
Mr. Rice opened in the Oakview Mall food three weeks ago. The locally owned quick-serve restaurant serves authentic cuisine originating from northeastern China.
Muchachos, a New Mexican BBQ restaurant in Lincoln, plans to open an Omaha location within the next two months along 13th Street in Little Bohemia.
The Grind Coffeehouse has opened at 1013 South 192nd Street. The locally owned business serves traditional coffee, tea, lattes and blended beverages with an Asian fusion influence.
A Casey’s convenience store and gas station is planned for 204th & Wirt Street in the Elkhorn area.
A Christian Brothers Automotive store will be the first building in the North Streams development northeast of 204th & Q Street. Houston-based Christian Brothers Automotive has 250 locations including one at 173rd & West Maple Road in Omaha.
The Blend Food Hall has closed at 10710 Q Street. The business opened last June and provided food from various vendors.
If you want to learn more about the local restaurant scene, listen to the Grow Omaha show this Saturday for our interview with Stacy Winters of Omaha Food Lovers between 9 and 10 a.m. on News-Radio 1110 KFAB.
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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
The Big Story
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Multi-National Firm Moves Omaha Office to The Capitol District
The Capitol District has landed is first major office tenant.
Deloitte, one of the world’s largest professional services companies, will move its Omaha office from the First National Tower to a 3-story, mixed-use building at 1100 Capitol Avenue. Deloitte has leased 10,000 sq. ft. on the third floor.
The class-A office building has retail space on the ground floor. Texas de Brazil steakhouse opened in the building earlier this fall. Plans call for 10,000 sq. ft. Let It Fly sports bar to open in the building this spring.
“We are thrilled that Deloitte has chosen the Capitol District as its new home. They are a perfect fit, and we look forward to welcoming them to the neighborhood,” said Paul Smith, CEO and president of Black Dog Development.
Deloitte will join more than 20 restaurants, bars, and businesses already open in the Capitol District, including a 12-story, full-service Marriott hotel.
Situated between 10th-12th Streets, the Capitol District is located within walking distance of some of downtown Omaha’s most popular attractions including the Old Market and the new Gene Leahy Mall as well as the Steelhouse Omaha music venue and Kiewit Luminarium, bot of which are slated to open this spring.
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Grow Omaha Snippets
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Milestone Development Company plans to build a 5-story residential building at 520 Riverfront Plaza. The one-acre, undeveloped parcel is part of Riverfront Place, a residential development with twin, 12-story towers next to the Bob Kerry Pedestrian Bridge. The $12 million building will have 17 market-rate, for-sale condo units, indoor parking and an outdoor pool built atop part of the garage.
Visit Omaha, the city’s convention and visitor bureau, is getting closer to opening its new office in the former Cantina Laredo restaurant space at Midtown Crossing. Opening is planned for early January. The office’s conference room will have a movable glass wall system, which will open up to an outdoor fireplace patio overlooking Turner Park.
88 Tactical has opened its expanded restaurant, lounge and shooting range at I-80 & Highway 370. The restaurant expansion includes a new kitchen, dining room that seats 300+, bar and lounge section, live entertainment area, private event dining section, Topgolf Swing Suite, outdoor patio and lounge that seats 100+, and 20 digitalized shooting lanes.
The City of Omaha’s bond rating will remain at one of the highest rating levels. S&P Global assigned an AA+ with stable outlook, its second highest rating. Moody’s assigned its third-highest rating of Aa2 with stable outlook on the city’s general obligation bonds.
The former H&H Chevrolet dealership at 84th & L Streets has been sold, according to Investors Realty, which represented the seller. The 12.38-acre lot has a 68,586 sq. ft. building on it. A yet-to-be-identified non-profit organization was the buyer.
Grow Omaha has added a new feature to its website: “Grow Omaha Certified Podcasts.” We have identified high-quality, Omaha-centric podcasts that provide value to our followers. We launched with three podcasts: “Restaurant Hoppen” with Dan Hoppen; “The Omaha Podcast” with Matt Tompkins; and of course, The “Grow Omaha Show!” The site updates these podcasts automatically every time a new episode is dropped. Click HERE
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:
Real Estate News from CoStar – U.S. retailers’ after-tax profits declined 50 percent in the third quarter from the second quarter, underscoring a climate of rising supply and labor costs even as overall sales rose over the past year.
For U.S. retail corporations with at least $50 million in assets, after-tax profits in the third quarter totaled $21 billion, which was down by more than half from the $46.6 billion recorded in the same quarter last year. Sales for the third quarter totaled just over $1 trillion, essentially even with the second quarter but about 7 percent higher than the $950.2 billion from the third quarter last year.
Crews has started demolishing a 4-story building that was part of the Ovation Senior Living complex in Heartwood Preserve northwest of 144th & Pacific Street. The building caught on fire in April just before residents planned to move in. The building can not be salvaged because of excessive mold growth from the large amount of water used to put out the fire.
ICONIC Consulting Group, Inc. has opened is first Midwest office in Omaha at 1111 North 13th Street in North Downtown. The Dallas-based company has multiple locations in the South.
Terrain, a new source of agricultural industry analysis for U.S. farmers and ranchers, launched last month. Three leading Farm Credit Associations – American AgCredit, Omaha-based Farm Credit Services of America and Frontier Farm Credit – partnered to establish and offer Terrain to their customers.
Omaha-based HDR has been appointed as the lead design firm on three healthcare projects across the public and private sectors in eastern Australia. HDR, in collaboration with DesignInc, will deliver an AU$675 million Community Hospitals Program that will provide patients who are not critically unwell with improved access to a broad range of walk-in hospital, community health and social care services closer to home, as well as relieve pressure on major hospitals.
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
Compiled by Grow Omaha co-founJeff Bealsder and sales trainer
Sponsored by MyStaff, Inc.
Leadership & Management
“If you have a poorly functioning work group, I suggest the first thing you do is count the number of stars in the group and the number of vacuums in the group,” says Dr. Kim Hoogeveen of MindSet, LLC in Bellevue. “Until you have more stars pushing people up than vacuums pulling people down, you will be unlikely to make much progress.”
In today’s world there are few barriers to career change, says business author Jeb Blount. “Top talent can walk out of your door to another career opportunity at any time. This puts more pressure on leaders than ever before to foster a culture and team environment that compels people to stay.”
Top salespeople don’t treat customers as if they were bowling pins, where your objective is just to knock them down, take their money and run, says business author Mark Hunter. “When your objective is to influence and impact people, it’s amazing what can happen next.”
I talk a lot about goals this time of year, because goal-setting is essential for sales success. But there’s one thing you must do after setting your annual goals to make success possible: tracking.
Even if you’re thoughtful when setting your goals, if you’re like most sales pros, you don’t accomplish all of them. There are a number of reasons why you might fall short, but one of the most common ones I see is a lack of goal tracking.
Tracking is the magic ingredient that makes goal-setting so powerful.
If you write your sales goals and put them in a binder that sits on the top shelf of a little-used cabinet, you’re wasting a golden opportunity. Check your sales goals at least once a quarter, preferably once a month.
As you read your goals, think about what you have and have not accomplished. Determine if you are on schedule. In other words, at the end of the first quarter, you should theoretically have accomplished 25 percent of your goals. At the end of the year, thoroughly review and evaluate your performance on each goal.
“You are not here merely to make a living. You are here in order to enable the world to live more amply, with greater vision, with a finer spirit of hope and achievement. You are here to enrich the world, and you impoverish yourself if you forget the errand.” – Woodrow Wilson
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!
Upcoming Events in the Metro
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Santa Photo Experience on December 7th, 10th, 11th, and 14th:
Bring your kids out for a night with Santa! Christmas lists and smiling faces are encouraged. Take your photos of the Santa experience at Nebraska Furniture Mart. One of Santa’s helpers will be there to assist you, if needed, in getting family photos and encouraging smiles from those little ones!
Holiday Festival in the Forest from December 10th – 16th:
Step into a Winter Wonderland with beautifully decorated holiday trees and wreaths at Fontenelle Forest. Then, bundle up and stroll the first loop of the lighted Riverview Boardwalk. Warm up with some complimentary hot cocoa as you enjoy the day’s festive activities. There will be a self-serve ornament decorating station for all the kids (and those who are kids at heart)!
The 5th Annual Toys For Tots Bar Crawl – Omaha:
Join the most giving crawl of the year! Bring a toy donation, grab your Santa, elf, reindeer and crazy holiday costumes and get ready to party! This bar crawl features drink specials in Omaha at each crawl location. All toys collected are donated to the local Toys For Tots organization, and distributed by Toys For Tots!
Elevator Open House on December 13th:
Tour one of Omaha’s newest spaces dedicated to e-commerce companies. Elevator opens its doors to the public on the second Tuesday of each month! Swing by and take a tour of the space, and learn more about what they do for businesses and the Omaha community.
Omaha Startup Holiday Party on December 15th:
Come out to Omaha’s Startup holiday party hosted by Startup Grind Omaha and Modus Coworking! If your company is too small for your own holiday (or if you just want another one), come out to celebrate all the work you’ve put in this year with other founders and community members!
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
Insurance industry leader James R. Boyle has been elected to the Mutual of Omaha board of directors. In his most recent role as president and CEO of Foresters Financial, Boyle led the strategic repositioning of the company, rebranding a mid-sized fraternal insurer as a market-leading disruptor, rationalizing its product line to include innovative wellness focused benefits, expanding omnichannel distribution and enabling same-day mobile transaction processing. Prior to leading Foresters, Boyle was president and CEO of John Hancock, the U.S. subsidiary of Manulife Financial.
Commonwealth Electric Company of the Midwest has promoted Troy Deats to branch manager of the Omaha operation. Deats joined the company in 2008 and has worked as an estimator, project manager and senior project manager during that time.
Dave Anderson has been named as office managing partner for KPMG LLP’s Omaha office. Anderson succeeded Drew Blossom, who transitioned to a senior audit leadership role with the firm.
Wall Street: The Week in Review
with George Morgan
The author is 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.
During the introduction of Obama care, Joe Biden, unaware his mic was live, whispered to Barrack Obama, “This is a big f****** deal.” Today, the same can be said of China. Wall Street has grown weary of the crypto stuff and has belatedly turned its focus to the Chinese protests over Covid lockdowns.
Our economic troubles with China are not new. They hit the fan during the pandemic. American producers became overly reliant on Chinese suppliers for pharmaceuticals and computer chips. The pandemic put the kibosh on that.
Chairman Xi’s Jinping’s power grab is shifting China’s focus away from economic growth toward party domination, and glorification of mother China, squeezing US consumers in the process.
The other shoe in the China story involves Chinese stocks traded on US exchanges. Prior to Covid, domestic Chinese companies were growing like crazy and everything was groovy and far-out. Then the US regulators began to scrutinize the accounting practices of Chinese companies traded on American exchanges and found a lot of watered-down stocks – look that up in your Funk & Wagnall. Regulators put those companies on notice that failure to comply to American accounting practices will result in delisting, causing their share prices to collapse to zero. Translation: for investors with robo accounts that have an international component, take a look under the covers.
Cramer and his Wall Street brown-nosers preach that the Fed is omnipotent in its battle with inflation. Au contraire, all the Fed can do is raise the discount rate. The real interest rates are set by the bond traders at Morgan Stanley, Goldman Sachs, et al.
As of this writing, the yield on the 2-year treasury is 87 BP above the yield on the 10-year treasury. Translation: the bond guys think that inflation will be around for a few more years before it falls back below 3%, and that’s enough to make a decent living.
Save the dates January 28th and April 28th. I am launching a series of workshops designed to educate investors about the user-friendly financial services industry that was born and raised on Farnam Street in Omaha, aka “Wall Street West.”
Midtown Crossing Trvia Time
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.
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